Hvivo reports significant growth in earnings and revenue

Hvivo, previously known as Open Orphan, saw a significant increase in earnings during the first six months of the year, marking a 67.6% rise. Earnings before interest, taxes, depreciation, and amortisation reached £8.7 million (€10.32 million), up from £5.2 million (€6.2 million) during the same period in 2023. The company also experienced a 30.6% growth in revenue, reporting £35.6 million (€42.23 million) for the first half of the year, as outlined in a recent trading update.

The London-based firm specialises in conducting drug trials known as challenge studies, using its clinics in the city. At the end of June, Hvivo’s contracted orderbook was valued at £71 million, a decrease from £78 million at the same time last year. Despite this, the company opened its new facility in Canary Wharf during this period and achieved a record number of volunteer inoculations, carrying out six challenge trials and five challenge agents in the first half of the year.

Hvivo’s ability to use multiple quarantine facilities to complete projects ahead of schedule contributed to its revenue growth. Among the notable contracts signed in the first half was a £6.3 million deal related to Human Rhinovirus, the virus responsible for the common cold, as well as a £2.5 million contract for an Omicron characterisation study. Earlier in the month, the company ceased trading on the Euronext Growth index in Dublin to focus on its primary listing on the AIM market of the London Stock Exchange.

The firm maintained its revenue guidance of £62 million for the year, with Ebitda margins expected to be at the higher end of market forecasts, currently set between 22% and 24%. Additionally, 100% of this year’s revenue guidance has already been secured, and the company expressed confidence in its outlook for 2025. There are also short to medium-term potential opportunities valued at approximately £40 million.

Chief executive Yamin ‘Mo’ Khan highlighted the company’s progress in expanding its service offerings, including human challenge trials, clinical site studies, laboratory services, and volunteer/patient recruitment. He also noted that operational efficiencies are likely to improve further with the growth of these services, increased automation, and the move to the new Canary Wharf facility.

hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials, providing end-to-end early clinical development services for its broad and long-standing client base of biopharma companies.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Facebook
    X
    LinkedIn
    hVIVO plc

    More articles like this

    hVIVO plc

    Inside hVIVO’s cutting-edge QA facility at Canary Wharf

    hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials,

    hVIVO plc

    Virus portfolio for RSV research and development

    Respiratory Syncytial Virus (RSV), discovered in 1956, is a common and contagious RNA virus responsible for a range of respiratory illnesses worldwide. Initially identified by Dr. Robert Chanock and colleagues in chimpanzees, RSV belongs to the

    hVIVO plc

    Clinical trial eligibility: Pre-screening and Screening

    In clinical trials, ensuring patient safety is paramount, and researchers must identify suitable participants who meet specific requirements. To this end, there are distinct processes involved, known as pre-screening and screening, which help determine whether a

    hVIVO plc

    Connecting Airway Epithelial Cell Models with Human Challenge Studies

    Airway epithelial cells cultured in Air–Liquid Interface (ALI) conditions provide an environment that closely resembles the human airway system. This method facilitates improved oxygen availability and supports cellular differentiation, replicating the physiological conditions of the human

    hVIVO plc

    Esmée shares her FluCamp clinical trial volunteer experience

    hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials,

    hVIVO plc

    Overcoming challenges in high-growth regulated industries

    The Navigating Risk podcast recently explored the challenges faced by high-growth businesses operating in highly regulated industries, particularly life sciences. Helen Yates, the Editor of Global Thought Leadership, engaged in a conversation with Mo Khan, the

    hVIVO plc

    Take a 360° interactive tour of a FluCamp Volunteer Room

    hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials,

    hVIVO plc

    Clinical trial approval process in the UK

    The process of obtaining approval for clinical trials is comprehensive, as it involves multiple regulatory bodies that ensure the safety and efficacy of the medical interventions being tested. Researchers begin by meticulously planning the trial, outlining

    hVIVO plc

    hVIVO reports positive results from RSV antiviral human challenge trial

    hVIVO plc (LON:HVO), a fast-growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, has noted the announcement by Enanta Pharmaceuticals, reporting positive topline results from

    hVIVO plc

    The importance of Clinical Trial Monitoring

    Monitoring is essential from the moment a clinical trial is planned until it concludes. This ensures that the study remains unbiased, patient safety is prioritised, and accurate results are achieved. The process of clinical trial monitoring

    hVIVO plc

    The future of vaccine development through human challenge trials

    Testing new treatments and vaccines often requires years, if not decades, to gather sufficient data. In response, scientists are turning to a more direct approach that involves deliberately infecting volunteers with potentially deadly pathogens. A notable

    hVIVO plc

    The impact of Clinical Trial results on medical advancements

    Clinical trials play a pivotal role in advancing the medical industry by allowing new treatments and interventions to be rigorously tested for both effectiveness and safety. Understanding how clinical trial data is used is essential to

    hVIVO plc

    hVIVO reports strong first half, delivering record revenues and margins

    hVIVO plc (LON:HVO), a fast-growing specialist contract research organisation (CRO) and world leader in testing infectious and respiratory disease products using human challenge clinical trials, has announced its unaudited interim results for the six-month period ended 30 June 2024.