Investors

p>OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease, diabetes and skincare, announces its unaudited results for the six months ended 30 June 2024.

 

Download To view a full version of the results in  PDF format  click here

Highlights

• Significantly increased order book and solid sales performance/li>
• Reported revenues decreased by 21.3% to £276K (H1 2023: £351k), although sales orders received during the period were substantially higher than in H1 2023
• Strong strategic and commercial progress achieved in the first half has continued in the second half to date
• E-commerce sales increased three-fold
• Healthy balance sheet with gross assets of £8.0m (30 June 2023: £9.9m), no debt and cash of £1,263K (30 June 2023: £893K)
• Successful placing to raise £1,350,500 through the issue of 6,752,500 new ordinary shares of 2 pence each in the Company in March 2024
• Launch of LeanBiome® in Muscletech®, a leading sports nutrition brand
• Partnership agreement with Morepen for SlimBiome® containing finished products
• Manufacturing agreement with KAG Industries
• Roehampton University submitting the results of a third human study on SlimBiome® for publication, which demonstrated statistically significant benefits to appetite and hunger regulation with no safety, compliance or tolerance issues reported by the participating volunteers. This study underlined the effectiveness of a single dose of SlimBiome® in delivering hunger-free weight loss by non-invasive means, and was timely in view of the growing consumer, media and pharmaceutical interest in this field

Stephen O’Hara, CEO of OptiBiotix Health plc said: “The fundamentals of our marketplace remain very exciting, with a range of recent market reports highlighting that products across the entire OptiBiotix portfolio have the potential to meet growing demand as solutions to a wide and increasing range of lifestyle-related health challenges. Given the excellent customer reviews, high customer return rates, multiple industry awards, and new customers launching products in key markets we believe there is a substantive opportunity to leverage market interest by increasing customer awareness of our products either directly through social media channels or indirectly through investing with our partners, and so build a successful and profitable business.

“The commercial traction we are now enjoying in our first-generation products with large partners in key markets, and the interest shown by other partners in our potentially industry-changing second-generation products, allows us to look to the future with a high degree of confidence. In the shorter term, based on orders already placed, we are also confident that full year revenues will be well ahead of those reported in 2023.

“With appetite suppression, gut health, sugar alternatives and modulation of the human microbiome all attracting ever-increasing interest, we believe that the Company is strongly placed to achieve profitability through growing sales of its now proven first-generation products, while progressing towards the commercialisation of our even more exciting second-generation products, SweetBiotix® and human microbiome modulators.

“We are confident that our strategy will deliver an improved sales performance for the rest of this year, and will continue in 2025, and look forward to demonstrating the long-term growth potential of the Group.”

This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

 

 

For further information, please contact:

OptiBiotix Health plc		www.optibiotix.com
Neil Davidson, Chairman		Contact via Walbrook below
Stephen O'Hara, Chief Executive
Cairn Financial Advisers LLP (NOMAD)		Tel: 020 7213 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Peterhouse Capital Limited (Broker)		Tel: 020 7220 9797
Duncan Vasey / Lucy Williams
Walbrook PR Ltd		Mob: 07876 741 001
Anna Dunphy