A leading firm testing infectious diseases, hVIVO, has reported a record year as it looks to start work on an £80m orderbook in 2024.
The London-listed firm said it achieved revenue of £56m for the full 2023 financial year, ahead of market expectations and up 15.5 per cent from the £48.5m it hit in 2022.
hVIVO has guided for £63m in 2024 as it starts the year with a strong contracted orderbook of £80m as of the end of December.
Shares in the company spiked five per cent when the markets opened.
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.