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Cogstate Ltd ( (AU:CGS) ) has issued an update.
Cogstate Ltd reported a significant increase in financial performance for the half-year ending December 31, 2024, with a 19% overall revenue growth and a 27% increase in clinical trials revenue compared to the previous year. The company also saw an 86% growth in net clinical trials sales contracts, driven by an expanded offering and improved funding for USA-based biotech firms. Despite increasing revenues, Cogstate managed to reduce its employee count, enhancing operational efficiency, while maintaining stable gross-profit and EBIT margins. The company’s cash reserves also grew, bolstered by a buyback of ordinary shares, reflecting strong financial health and strategic investment in technology.
More about Cogstate Ltd
Cogstate Ltd is a neuroscience technology company specializing in optimizing brain health assessments to aid the development of new medicines and enable earlier clinical insights in healthcare. The company offers computerized cognitive tests and electronic clinical outcome assessment solutions, supporting clinical trials and the healthcare market. Cogstate collaborates with pharmaceutical partners, including Eisai, to distribute its assessments across the USA and Asia.
YTD Price Performance: 0.29%
Average Trading Volume: 16,598
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $115.5M
Learn more about CGS stock on TipRanks’ Stock Analysis page.
