Feedback plc notes that TexRAD, its texture analysis software product will be used by Imaging Endpoints II, LLC, its exclusive partner, for imaging core lab purposes in a forthcoming drug trial in the United States. A study will shortly be commenced of colorectal cancer patients (Stage IIIc) with either Regorafenib or Standard of Care (No Treatment) after adjuvant FOLFOX. The Sponsor is US Oncology Research and the Collaborator is Bayer Healthcare Pharmaceuticals, Inc./Bayer Schering Pharma.
Following the recent announcements of new sales of TexRAD, the Company announces an update on current trading.
Revenue for the current financial year ending May 2015 is expected to be in line with market expectations however due to contractual settlement costs, the product sales mix and the timing of the revenue recognition from the new TexRAD sales, the loss for the year will be higher than the current market expectations.
We continue to seek to broaden the Company’s profile in the medical imaging software sector and are in active discussions with a number of potential customers for research versions of the TexRad product.