Clinical testing firm hVIVO has reported a 30.6% increase in revenue for the first half of the financial year.
The group brought in a record £35.6m during the opening six months of 2024, up from £27.3m during the same period last year, and the board reaffirmed its full-year revenue guidance of £62m and its medium-term revenue target of £100m by 2028.
Turnover growth was driven by a record number of volunteer inoculations across multiple studies and the running of a variety of challenge models simultaneously, and the firm now has a weighted contracted order book of £71m, down slightly from £78m year-on-year.
The London-based company, which was taken over by Dublin pharma firm Open Orphan in a reverse takeover five years ago, reported a higher EBITDA margin of 24%, up from 19.1% in H1 last year.
The group’s cash position is £37.1m, an improvement from £31.3m last June, following the payment of a £1.4m dividend in …