Ixico Shares Fall as Roche Halts Huntington's Disease Trial

By Adria Calatayud

Shares in Ixico PLC fell Tuesday after the company warned of a likely revenue hit as its largest pharmaceutical customer, Roche Holding AG, plans to stop dosing participants in a phase 3 trial in Huntington's disease.

The London-listed neuroscience data-analytics company said revenue relating to this trial and open-label extension studies in Huntington's disease are a material component of its contracted revenue across fiscal 2021 and future fiscal years to 2024. As a result, there is a likelihood that the customer's decision will hurt Ixico's performance, it said.

The maximum impact on revenue would be 2.7 million pounds ($3.7 million) for the remainder of the year to Sept. 30 and around GBP5 million in fiscal 2022, Ixico said.

The company said it is seeking clarification from its customer, but said it still maintains a strong contracted order book totaling more than GBP12 million excluding all potential revenue from this trial.

Shares in Ixico at 1524 GMT were down 25% at 79.50 pence.

Write to Adria Calatayud at [e-mail]

(END) Dow Jones Newswires

March 23, 2021 11:44 ET (15:44 GMT)

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