hVIVO plc

Equities

HVO

GB00B6ZM0X53

Healthcare Facilities & Services

Delayed London S.E. Other stock markets			5-day change	1st Jan Change
- ^GBX	-.--%		+18.92%	+41.94%

Feb. 14	Hvivo Completes Secondary Placing	MT
Feb. 14	Hvivo Shareholders Plan Secondary Placing to Sell 14 Million Shares	MT

HVIVO achieves record revenue and initiates dividend policy following successful year

April 09, 2024 at 07:53 am EDT

(via NewsDirect)

hVIVO PLC (AIM:HVO) chief executive Yamin 'Mo' Khan discusses the company's record-breaking financial results in 2023 in an interview with Proactive's Stephen Gunnion.

hVIVO announced a 16% year-on-year growth in revenue, reaching £56 million, with an EBITDA margin increase from 18.7% to 23.3%, surpassing prior guidance. The company's absolute EBITDA rose to £30 million, a 44% increase from the previous year.

Khan attributed the success to hVIVO conducting more human challenge trials, leading to improved patient recruitment efficiency and better utilisation of facilities and staff. Despite challenges such as MHRA delays, significant funding for a new Canary Wharf facility positively impacted the financial results. hVIVO also initiated an annual dividend policy, planning a £1.4 million dividend distribution following a strong cash generation year.

The Canary Wharf facility's development, notably ahead of schedule, includes a 50-bed quarantine facility and a laboratory, set to be fully operational by the end of July. This expansion is expected to enhance operational efficiency, increase revenue potential to up to £95 million, and strengthen hVIVO's position in the human challenge trial industry globally.

For 2024, the company anticipates hitting a £62 million revenue target, with £180 million in the weighted order book ensuring a robust pipeline. Despite a study cancellation, hVIVO remains confident in its revenue and EBIT margin targets.

Looking forward, hVIVO aims for a £100 million revenue target by 2028, driven by expanding its human challenge trials, increasing clinical trial services, and exploring M&A activities, supported by a strong cash reserve.

Contact Details

Proactive UK Ltd

+44 20 7989 0813

uk@proactiveinvestors.com

Latest news about hVIVO plc

Hvivo Completes Secondary Placing	Feb. 14	MT
Hvivo Shareholders Plan Secondary Placing to Sell 14 Million Shares	Feb. 14	MT
Hvivo Wins GBP6 Million Antiviral Testing Contract	Jan. 02	MT
Hvivo Secures GBP17 Million Contract for RSV Antiviral Drug Testing; Stock Surges	Dec. 13	MT
Earnings Flash (HVO.L) HVIVO Reports H1 Revenue GBP27.3M	23-09-12	MT
Earnings Flash (HVO.L) HVIVO Posts H1 EPS GBX0.58	23-09-12	MT
HVIVO Limited Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-12	CI
Lab Services Company Hvivo to Build New London Facility	23-08-29	MT
HVIVO plc Plans for A New Facility to Meet Growing Demand	23-08-29	CI
Hvivo Wins GBP13 Million Contract from Global Pharma Client	23-07-25	MT
HVIVO Surges 10% on GBP7 Million RSV Drug Testing Contract With Asian Pacific Drugmaker	23-02-06	MT
UK's hVIVO Signs GBP2.5 Million Contract for RSV Vaccine Candidate Testing	23-01-04	MT
HVIVO Up 9% With $16 Million Antiviral Testing Contract	22-11-10	MT
HVIVO Announces £10.4 Million Contract with Existing Big Pharma Client	22-08-22	CI
Cocrystal Pharma Engages hVIVO to Conduct Phase 2a Human Challenge Influenza A Clinical Trial with Novel, Broad-Spectrum Antiviral Candidate CC-42344	22-08-08	CI
HVIVO Limited Signs £6.2 Million Influenza Human Challenge Study Contract	22-08-04	CI
Hvivo Signs £7.2 Million Contract with an Existing Top 5 Global Pharmaceutical Company to Test Its Orally Administered Antiviral Product	22-06-14	CI
HVIVO Signs GBP 14.7 Million Influenza Contract	22-06-01	CI
HVIVO Signs a £7.3 Million Influenza Human Challenge Study Contract Win	22-05-18	CI
HVIVO Receives New Study with an Existing Big Pharma Client to Act as A Vaccination Site for A Phase II Field Study	22-05-05	CI
HVIVO Signs Substantial Contract with an Existing Top 5 Global Pharmaceutical Client to Manufacture Virus for Use in Human Challenge Studies	22-05-04	CI
HVIVO Wins £5 million RSV Human Challenge Study Contract	22-03-25	CI
HVIVO Announces Positive Results from RSV Human Challenge Study	22-02-17	CI
HVIVO Signs £5 Million Influenza Human Challenge Study Contract with a Biotech Company	21-12-21	CI
Hvivo Limited Signs $13.4 Million Contract with A US-Based Biotechnology Company to Test Its Novel Antiviral Candidate Using the Hvivo Influenza Human Challenge Study Model	21-12-10	CI

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Company Profile

hVIVO plc, formerly Retroscreen Virology Group plc, is a holding company. The Company is engaged in a life sciences business pioneering a technology platform of human disease models to accelerate drug discovery and development in respiratory and infectious diseases, including flu, respiratory syncytial virus (RSV), asthma and common cold. It has commercialized approximately four disease models, enrolled over 2,000 subjects and conducted approximately 40 product validation studies for a range of industry, government and academic clients and collaborators. The Company offers services, such as challenge study services, lab services, and target and biomarker discovery. It offers viral challenge studies in healthy volunteers in influenza, human rhinovirus (HRV) and RSV. Its lab services include assay development, transfer and optimization across the immunological, molecular and cell-based assay platforms, including offering options in sample matrix testing and specialty biomarker assays.

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Healthcare Facilities & Services

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