Open Orphan: Firm foundations for growth laid in H1
In the six-month period to June 2020, ORPH focused on integration and restructuring following its acquisition of lab services and challenge studies specialist hVIVO in January. The company is currently positioned to deliver and maximise the potential its world-leading clinical research organisation (CRO) services and facilities, setting the stage for the acceleration in the pace of growth already in evidence in Q3 2020. The company is well on track to deliver cost savings to reach its target of operating profitability, now set for Q4 2020, signalling a swift turnaround of the Venn and hVIVO subsidiaries. Looking ahead, potential can come from continuing to leverage its ‘traditional’ human viral challenge (HVC) studies and with a solid pipeline of contracts indicating 100% utilisation of the London-based quarantine facility to the end of 2021 at least. The potential launch and commercial roll-out of a successful HVC model to help accelerate the development of COVID-19 therapies and vaccines can be transformational for ORPH and potentially for the field of vaccine or antiviral drug development.
Quick facts: Open Orphan PLC
Price: 25.325 GBX
Market Cap: £169.18 m
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