StockMarketWire.com - Data analytics company Ixico warned it expected a slowdown in revenues in the second half of the financial year amid customer delays to new projects in the wake of the going Covid-19 pandemic.

Ongoing work on clinical trial projects was necessarily deferred and new projects delayed into the next financial year by pharmaceutical sponsors, the company said.

'Given the nature of these trials, however, the company expects that any deferred project activity would be reactivated in future periods, enabling Ixico to recoup the related deferred revenue in due course,' it added.

Ixico also said it had won a new contract for a late-phase open label study in Huntington's disease.

The four-year contract would run to 2024 with a total value of £10.5m, with the expectation that the majority of the revenue would be generated in 2022 and 2023.

Citing the uncertainty around the level and duration of disruption to clinical trial operations due to COVID-19, the company said it was not currently able to provide clarity regarding the outlook for 2020.

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