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IDT Australia Limited ( (AU:IDT) ) has shared an announcement.
IDT Australia Limited has reported a remarkable 97.7% increase in quarterly revenue to $5.3 million, marking the highest since it initiated its strategic transformation. This surge is largely attributed to the significant growth in its Advanced Therapies business, driven by new contracts and the rising demand for Antibody Drug Conjugates and mRNA technologies. Despite typically weaker seasonal performance in the December quarter, IDT’s revenue surpassed the previous quarter by 3.5%. The company also secured $12.9 million in new contracts primarily from US-based customers, highlighting its strong market position and attractiveness due to Australia’s regulatory standards and cost advantages. Looking forward, IDT expects its full-year results to exceed those of the previous year, backed by a robust pipeline of proposals.
More about IDT Australia Limited
IDT Australia Limited is a pharmaceutical manufacturing company located in Boronia, Victoria, Australia. It specializes in the development and production of high potency and high containment pharmaceutical products for both local and international clients. The company’s facilities are cGMP compliant and are frequently audited by the US FDA and Australian TGA. IDT offers a comprehensive range of services including new drug development, scale-up, commercial active drug manufacture, and various oral and injectable finished drug dose forms.
YTD Price Performance: -4.55%
Average Trading Volume: 130,562
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$43.44M
For a thorough assessment of IDT stock, go to TipRanks’ Stock Analysis page.
