Vaccine research group Open Orphan says it is on target for revenues of around £40m (€48m) in 2021.
In a trading update published today, the company said it expects earnings before interest, tax, depreciation and amortisation (EBITDA) to be positive in 2021, after a negative result in 2020.
Open Orphan finished 2021 with cash and cash equivalents of £15.6m (around €19m).
Open Orphan (LON:ORPH) was founded in 2017, with the goal of rapidly building Europe’s leading pharma services company by a management team with extensive industry and financial expertise. The company comprises of two commercial specialist CRO services businesses (Venn Life Sciences and hVIVO) and is also developing a genomics data platform business (Genomic Health Data).