Hvivo, formerly known as Open Orphan, has reported a 30 per cent jump in revenue to £50.6 million (€57.2 million) for last year. The Dublin and London-listed pharmaceutical company said bigger contracts with clients drove the size of its order book to £76 million by the end of last year, up 65 per cent on 2021 and six times what it was in 2020.
In a trading update on Tuesday, it forecast revenue for this year would rise further to £55 million
As of December 31st last, the group’s cash position was £28.4 million, up from £15.7 million in 2021. Hvivo said EBITDA (earnings before interest tax depreciation and amortisation) margins were 17.9 per cent, ahead of previous guidance and up from 7.4 per cent in 2021.
hVIVO plc (formerly Open Orphan plc) 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.
