- OptiBiotix reported strong invoiced sales numbers for all its divisions, with its ProBiotix division posting the strongest growth of 57.7 per cent for the first half.
- Many of the company’s partners have introduced new products, while others have expanded their existing product range and territories.
- The company is in the strongest position it has ever been in with a large and valuable intellectual property portfolio.
AIM-listed life sciences company OptiBiotix Health Plc (LON: OPTI) has reported strong sales numbers in the first six months of the year, ending 30 June 2021.
Each division in the company have extended growth momentum as far as invoiced sales are concerned. Most importantly, LPLDL® and SlimBiome®, two award-winning and highly successful products from the OptiBiotix stable, registered a robust 44.3 per cent surge in the total invoiced sales, amounting to £1.074million. On the back of the better-than-expected number, the company now believes that it will be able to meet and may even exceed the sales forecast for the full year. This is a new milestone in OptiBiotix’s growth journey.
Strong growth in invoiced sales in H1
The sales numbers for the first six months of the financial year 2021 clearly indicate that the company is on the right path and its pragmatic strategy is now bearing fruit. Though the numbers are based on invoiced sales from divisional sales reports, they clearly show that the demand and reach of the company have expanded.
Invoiced sales of ProBiotics, also surged by 57.7 per cent to £536,998, compared to £340,429 in the first half of 2020. Similarly, PreBiotics invoiced sales were up by 35 per cent from £398,271 in H1 2020 to £537,850.
In the first half there was no significant contribution from licence or royalty payments, as typically the company receives them in the second half of the year. Also, the amount of £900,936 received on shares disposal of SkinBioTherapeutics Plc, a company focused on skin health, is not included in the numbers of the first half.
Big stride on commercial front
The first half of the year has been enormously productive for OptiBiotix despite the challenging trading environment amid Covid-19. Many of the company’s partners introduced new products, while others expanded their existing product range and territories. Based on the first half performance, strong revenue growth is expected in the second half and beyond.
OptiBiotix has been working on commercialising its pipeline of second-generation products, SweetBiotix and MicroBiome Modulators, which are generating strong interest in the market.
The company has already been working with its US partner for the industrial level ramp-up of SweetBiotix and has also collaborated with various top-notch businesses that have signed Material Transfer Agreements to develop applications. OptiBiotix will also be scaling up and commercialising another group of SweetBiotix products along with a world-renowned company.
OptiBiotix has made strong progress with regards to its other second-generation product, MicroBiome Modulators, and has reached a level and position where it can produce in large volumes.
Vibrant future in sight
OptiBiotix has been on a growth journey and is strengthening its position over time. With the robust sales growth in the first half, it is now in the strongest position it has ever been in, with a large and valuable intellectual property portfolio. While it is focussing on second-generation pipeline products, it is also in active discussion with various corporate partners who are willing to acquire rights for its first-generation products in major strategic markets.
Its second-generation product, SweetBiotix, is being evaluated by different major corporate partners for use in their products, and the company has several Material Transfer Agreements in place with them. There were covid-related disruptions that delayed the lab testing, but positive outcome can be expected in the second half of the year. The same is true for the other second-generation product. Optibiotix is of the view that it has managed to successfully develop an approach, allowing it to manufacture microbiome modulators in volume in the first half.
The management is of the view that new product launches and its expansion in new territories extension along with existing partners, will boost the growth prospects of the company. Also, the continuing flow of new agreements and product launches has put the company in a confident position about its further growth.