LONDON (ShareCast) - (Sharecast News) - Shares in Feedback sparked in early trading on Wednesday, after the clinical infrastructure specialist adopted an optimistic outlook on the back of a recent fundraising.
Updating on half-year trading, the AIM-listed business - which provides healthcare software and systems - said reported revenues in the six months to 30 November would likely be flat at £0.4m.

Core product Bleepa, a communication and collaboration platform, accounted for around 90% of that.

Cash and cash equivalents as at the period end were around £7.3m, more than £2m higher than the same period a year earlier, however, after approximately £5.1m was received from a recently-completed fundraising.

A further £0.5m was received shortly after the period end.

Shares in Feedback fell sharply when it announced the heavily-discounted fundraising last month, and the stock has now lost 75% so far this calendar year.

However, looking to the rest of the financial year, Feedback said the fundraising "enables the company to build scale for implementation and provides a runway for delivery".

It continued: "The board believes that Bleepa is uniquely positioned to address one of the key underlying challenges to NHS reform, and is perfectly aligned with the strategic aims of the government, proposed NHS digitalisation and a shift to delivery of care in communities via a neighbourhood health service."

Contracts with integrated care boards remained the "nearest term" opportunity to build meaningful revenue streams, it added, although talks with central and national teams were ongoing.

As at 0845 GMT, shares were trading 6% higher at 17.5p.

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