EKF Diagnostics Holdings expects adjusted EBITDA to comfortably exceed forecasts.
The company said revenues for the year ended 31 Dec were in line with expectations and net cash stood at £6.8m.
The company also announced that it intends to spin-out its sTNFR biomarker technology into a separate entity to enable it to exploit opportunities to realise value from this technology, which having been fully impaired and has a current carrying value of nil.
sTNFR1/2 (Soluble Tumour Necrosis Factor Receptors 1 and 2) are novel biomarkers used to identify type 1 and type 2 diabetes patients at highest risk of progressive Diabetic Kidney Disease (DKD) potentially leading to End Stage Renal Disease (ESRD).
EKF said the directors intended to establish a joint venture to develop sTNFR as a routine test for predicting the progression of diabetic patients to ESRD and will make further announcements at the appropriate time.
At 9:03am: (LON:EKF) EKF Diagnostics Holdings PLC share price was +0.45p at 26.95p