Cyprotex PLC ("Cyprotex" or the "Company" or the "Group")
Final results for the year ended 31 December 2009
Resilient performance in difficult market for pre-clinical CRO's
Cyprotex PLC (AIM:CRX), the drug discovery technology and information company, today reports its final results for the year ended 31 December 2009. Cyprotex enables its customers to access secure, high quality Absorption, Distribution, Metabolism, Excretion / Toxicity (ADMET) data without incurring significant overheads. Its highly automated platform guarantees high throughput, reproducibility and rapid turnaround of ADMET data, setting new industry standards for this sector of the market.
· Revenues hit £5 million for second successive year at £5.00 million (2008: £5.18 million)
· Second year of profitability with operating profits at £0.46 million (2008: £0.57 million)
· Cash and cash equivalents up £0.49 million at £2.07 million
· Strong positive cash flow from operations at £0.90 million up £0.36 million
· Doubled number of strategic customers in 2009 (being customers contributing annual revenues in excess of £250,000 each) from three to six
· Won over twenty new customers
· Newly internally developed assays generated over £300,000 of revenues
· Investment in laboratory space and state of the art mass spectrometer secured new strategic customer
· Strategic alliance announced with Sygnature Chemical Services Limited, a leading provider of medicinal and computational chemistry services
· Launched Cloe® Gateway, our new web based portal for access to Cyprotex services
Steve Harris, Chairman of Cyprotex PLC, said:
"Cyprotex's results represent an impressive performance against a very difficult market currently for the pre-clinical CRO sector. Cyprotex continues to attract new customers, expand its offerings and is investing in new laboratories to service both the ADME and pre-clinical toxicology markets"