(Alliance News) - Ixico PLC on Friday said it has signed a start-up agreement with a new client to provide MRI imaging services for an early phase clinical trial in multiple system atrophy, a rare nervous system condition that causes gradual damage to nerve cells in the brain.
The London-based AI data analytics company presumes a contract value of around GBP600,000 in early 2023 and expects the trial to last for two years.
The news comes a day after Ixico said that a client decided to discontinue a phase two trial previously announced by company. On Thursday it said it expects to suffer a reduction in anticipated revenue of GBP100,000 for 2023 amid a total reduction in the order book of GBP600,000. Financial guidance is not impacted by the cancellation, Ixico said on Thursday.
Ixico shares were 5.5% higher at 26.90 pence each on Friday morning in London, but 5.8% lower than on Monday, when they traded at 28.55p each. The stock is down 56% over the past 12 months.
By Tom Budszus, Alliance News reporter
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Ixico (IXI)