EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care business, provides shareholders with the following update on current trading.
The Company is pleased to announce that revenues for the year ended 31 December 2017 are in line with expectations whilst adjusted EBITDA is expected to comfortably exceed expectations. Net cash at the year end is £6.8m.
The Company also announces that it intends to spin-out its sTNFR biomarker technology into a separate entity to enable it to exploit opportunities to realise value from this technology, which having been fully impaired and has a current carrying value of nil. sTNFR1/2 (Soluble Tumour Necrosis Factor Receptors 1 and 2) are novel biomarkers used to identify type 1 and type 2 diabetes patients at highest risk of progressive Diabetic Kidney Disease (DKD) potentially leading to End Stage Renal Disease (ESRD).
The Directors intend to establish a joint venture to develop sTNFR as a routine test for predicting the progression of diabetic patients to ESRD and will make further announcements at the appropriate time.
Download the full announcement.
|EKF Diagnostics Holdings plc
Julian Baines, CEO
Richard Evans, Finance Director and COO
Tel: 00 44 29 2071 0570
|N+1 Singer (Nomad & Broker)
Alex Price / Shaun Dobson / Ali Laughton-Scott
|Tel: 020 7496 3000|
Walbrook PR Limited
|Tel: 020 7933 8780 or
Mob: 07980 541 893 / 07584 391 303