Bioventix profits will beat forecasts, boost eyed from Siemens link

22nd Aug 2016 09:34

(ShareCast News) - Bioventix revealed that revenues and profits will be ahead of expectations for the full year thanks to currency effects and continued demand for its monoclonal antibodies.Revenue for the year to 30 June will come in at £5.3m, which is at least 11% ahead of the forecast £4.8m and 22% up on the previous year, with profits also confirmed as beating estimates as the cost base has not accelerated. Encouraged by recent developments from project partner Siemens Healthcare Diagnostics, management said they were confident the troponin antibody will contribute significantly to results in 2018.Troponin, which was created by Bioventix and is being used by Siemens in a product under development, was highlighted in a presentation at the American Association of Clinical Chemistry, where Siemens described for the first time its development programme.Bioventix said: "Troponin remains an important product for Bioventix's future performance, as we expect to commence significant sales during the financial year ending 30 June 2018, which will offset revenues from other products which are expected to reduce during this period."House broker FinnCap said it assume in its base case a European launch in mid-2017, with a US launch in mid-2018.Pending a conversation with the company, analysts forecast EPS increases for both 2016 and 2017 in be in the range of 13-20%, while estimating net cash at 30 June 2016 of around £5.2m.