- Neuroscience-focused digital technology company Ixico said Tuesday one of its pharmaceutical clients would no longer require the company's imaging equipment after ending a phase II/III clinical study in Alzheimer's Disease.

The end of the clinical study is not expected to materially impact Ixico's performance in the current financial year.

The contract had previously expanded in September 2017 to a value of $7.7m to the end of 2024. Over the past three years, Ixico had recognised $2.0m of this total.

Ixico confirmed it remained on track to deliver double-digit revenue growth, generating revenues in excess of £4.5m, and meet market expectations for the current financial year.

'Whilst it is disappointing that this project will not continue for the full contract term, our broad neurological focus, order book and pipeline mitigates such challenges that can arise in our client's clinical development programmes,' Giulio Cerroni, Chief Executive Officer of IXICO.

At 9:27am: [LON:IXI] IXICO plc share price was -2.5p at 31p

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