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hVIVO contract win the first of many in 2024, says analysts

Published 02/01/2024, 11:41
Updated 02/01/2024, 12:10
hVIVO contract win the first of many in 2024, says analysts

Proactive Investors - Analysts at Liberum believe hVIVO PLC (LON:HVO), the scientific trials company, is in a strong position to win additional contracts after sealing a £6.3 million deal to research treating the common cold.

hVIVO will conduct the research using the human challenge study model for an unnamed biotechnology firm.

The study hopes to provide strong evidence in favour of regulatory approval as well as send future trials in the right direction.

Although hVIVO is yet to reveal its 2024 guidance, analysts at Cavendish say it will achieve revenues of £60 million, up from the £55 million forecast for 2023.

Tuesday’s contract win in addition to last month’s £16.8 million deal to test RSV has left management in a comfortable position to reveal healthy guidance.

Details of which are likely to be presented alongside a trading update later this month.

Cavendish said: “As the world leader in testing infectious and respiratory disease vaccines and therapeutics using human challenge clinical trials, we believe hVIVO is in a strong position to win new contracts.

“The company’s orderbook has grown in recent periods, and is diversified across multiple clients, challenge agents and geographies, providing a strong foundation for long-term revenue growth.”

Shares in hVIVO are up almost 8% on Tuesday at around 25p.

Read more on Proactive Investors UK

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