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An update from Circassia Pharmaceuticals ( (GB:NIOX) ) is now available.
NIOX Group reported a strong 2025 performance, with revenues rising 17% to about £48.7m, driven by 7% growth in its core clinical business and a 77% surge in research revenues linked to an exceptional wave of pharma-sponsored asthma and COPD studies. Adjusted EBITDA climbed 21% to roughly £16.7m, beating market expectations and lifting margins, while cash nearly doubled to £19.9m despite a £5m dividend, underlining robust cash generation and a debt-free balance sheet. The group successfully launched its next-generation NIOX PRO device with first sales in December, and management expects its direct US sales push, expanding FeNO use in COPD and a predominantly recurring clinical revenue base to underpin future growth, though it cautions that 2025’s unusually strong research income is unlikely to be repeated.
The most recent analyst rating on (GB:NIOX) stock is a Hold with a £77.00 price target. To see the full list of analyst forecasts on Circassia Pharmaceuticals stock, see the GB:NIOX Stock Forecast page.
Spark’s Take on GB:NIOX Stock
According to Spark, TipRanks’ AI Analyst, GB:NIOX is a Neutral.
Circassia Pharmaceuticals’ overall stock score is driven by its strong financial performance and positive corporate events, which are offset by neutral technical indicators and a high P/E ratio suggesting overvaluation. The company’s robust cash flow and low leverage provide a stable foundation, while recent corporate actions signal confidence in future growth.
To see Spark’s full report on GB:NIOX stock, click here.
More about Circassia Pharmaceuticals
NIOX Group plc is a UK-based medical device company specialising in point-of-care fractional exhaled nitric oxide (FeNO) testing used in the diagnosis, monitoring and management of asthma and COPD. The group generates revenues from clinical sales, largely recurring test kit usage, and research contracts with pharmaceutical companies, serving healthcare providers and drug developers focused on respiratory disease and Type 2 airway inflammation.
Average Trading Volume: 953,064
Technical Sentiment Signal: Buy
Current Market Cap: £288.3M
For detailed information about NIOX stock, go to TipRanks’ Stock Analysis page.

