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Cambridge Cognition announced its interim results this morning with revenue of £2.17m (H1 2018: £2.75m) and the loss before tax widening to £1.74m (H1 2018: £1.02m loss)
In H1, sales were lower in the core clinical trials business due to short-term market factors, including a merger of two large customers leading to delays in finalising contracts, reduction in safety testing of two drug classes, and a dip in trial initiations for Alzheimer's drugs.
The company's cash balance was £2.06 million at 30 June 2019.
Commenting on the results, Matthew Stork, Chief Executive Officer of Cambridge Cognition, said: 'As announced in our trading update on 27 August 2019, trading in the core business in H1 has been challenging. However, R&D investment in recent years has helped deliver first half successes across a number of areas.'
'The strengths of the Company in providing biomarkers and supporting clinical trials for central nervous systems disorders puts us in a great position to thrive in the growing digital market.'