StockMarketWire.com - Pharmaceutical company Clinigen warned on performance as the reduction in hospital-based oncology treatments and delays to clinical trial dented demand for proleukin amid the ongoing pandemic impact.

Adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, is now expected to be within a range of £114m to £117m for the full year 2021, while revenues1are expected to be in-line with prior guidance and consensus expectations.

'The group believes it is prudent to expect this reduced level of demand for Proleukin to remain until revitalisation efforts into new indications alongside novel cell therapies are successful and normal Hospital and Cancer Centre Services have resumed,' the company said.

Looking ahead, the company said it expected to achieve double digit EBITDA growth in FY22, following faster-than-expected progress on the launch of Erwinase and ongoing market shares gain in its service end-markets.


Story provided by StockMarketWire.com