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- Neuroscience technology company Cogstate (CGS), has achieved an additional $19.1 million of clinical trials sales contracts so far this quarter
- The total value of contracts executed since July 1st is $26.8 million, which is the best half year result the company has ever recorded
- Focusing primarily on brain health, Cogstate provides insights into a number of strategies, plans and designs for optimal clinical trials
- Cogstate is up 28.3 per cent today with shares trading for 38.5 cents each
Neuroscience technology company Cogstate (CGS), has achieved an additional $19.1 million of clinical trials sales contracts so far this quarter.
The total value of clinical trials sales contracts executed since July 1 2019 is $26.8 million which is the best half year result the company has ever recorded.
“The level of sales contracts executed in this December half year is a reflection of accelerating demand for the Company’s scientific solutions and technologies,” CEO Brad O’Connor said.
“Over the last month especially, we have executed a number of contracts in respect of studies that are planning to begin in the March quarter of 2020,” he added.
While the results have impressed the company, it provided guidance at the start of the 2020 financial year of 50 per cent growth in clinical trials sales contracts.
However, the December half-year result has exceeded its expectations.
Cogstate focuses on designing better studies and clinical trials to reduce risks.
Focusing primarily on brain health, Cogstate provides insights into drug development strategies, protocol design, test selection for screening, safety and efficacy, exploratory measures and innovative methods, test design and development, statistical plans, analyses and reports.
“Cogstate has seen continued sales growth in rare disease indications as well as a rebound in investment by our customers in Alzheimer’s disease, an area that was negatively impacted throughout the 2019 financial year by a series of clinical trial failures,” Brad recalled.
The company has a strong pipeline of sales opportunities it’ll pursue prior to the end of the financial year.
Cogstate is up 28.3 per cent today with shares trading for 38.5 cents each at 11:29 am AEDT.
