Oxford Biomedica (OXB)

Sector:

Pharma and Biotech

Index:

FTSE Small Cap

398.00p
   
  • Change Today:
    -10.50p
  • 52 Week High: 445.00
  • 52 Week Low: 166.80
  • Currency: UK Pounds
  • Shares Issued: 105.36m
  • Volume: 91,279
  • Market Cap: £419.33m
  • RiskGrade: 125

Oxford Biomedica announces placing to inject £20.5m for expansion

By Duncan Ferris

Date: Friday 09 Mar 2018

LONDON (ShareCast) - (ShareCast News) - Oxford Biomedica intends to raise approximately £20.5m by way of a conditional placing of ordinary shares to raise money for expansion of bioprocessing facilities, the company said on Friday.
The placing of up to 174,346,817 new ordinary shares at 11.75p will be conducted via an accelerated bookbuild launched today, and will represent a 5.85% discount to the 8 March closing price and a 12.45% discount on the market price at the time of announcement.

The gene and cell therapy company's planned expansion to be funded by the proceeds will include four new GMP vector suites and the filling and finishing of suites, warehousing and office space.

John Dawson, chief executive of Oxford Biomedica, said: "This fundraise will allow us to exploit our market leading position by giving us the capacity to service this rapidly growing market that is expected to be worth $800 million annually, by 2026."

The company has developed strategic partnerships with Novartis, Bioverativ, Sanofi, GSK, Orchard Therapeutics, GC LabCell and Immune Design, giving it long term interests in gene and cell therapy.

"With the approval of the first approved gene therapy in the US, Novartis' Kymriah, we have seen an increase in business development activity and this has reinforced our belief that the market for lentiviral vectors is positioned to grow significantly over the next few years," said Dawson.

Kymriah is a pioneering CAR-T cell cancer therapy which showed an 83% overall remission rate in clinical trials in New Jersey.

Oxford Biomedica stated that it has 7 further therapies which could potentially gain approval in the next few years and estimates that it could stand to gain "in excess of $100 million over the next three years for supply of vector to Novartis in relation to Kymriah."

As of 1617 GMT, Oxford Biomedica's shares were down 3.53% at 12.04p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

OXB Market Data

Currency UK Pounds
Share Price 398.00p
Change Today -10.50p
% Change -2.57 %
52 Week High 445.00
52 Week Low 166.80
Volume 91,279
Shares Issued 105.36m
Market Cap £419.33m
RiskGrade 125

OXB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
31.96% below the market average31.96% below the market average31.96% below the market average31.96% below the market average31.96% below the market average
16.00% above the sector average16.00% above the sector average16.00% above the sector average16.00% above the sector average16.00% above the sector average
Price Trend
88.50% above the market average88.50% above the market average88.50% above the market average88.50% above the market average88.50% above the market average
96.00% above the sector average96.00% above the sector average96.00% above the sector average96.00% above the sector average96.00% above the sector average
Income Not Available
Growth
52.8% below the market average52.8% below the market average52.8% below the market average52.8% below the market average52.8% below the market average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average

What The Brokers Say

Strong Buy 1
Buy 3
Neutral 5
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

OXB Dividends

No dividends found

Trades for 31-Oct-2024

Time Volume / Share Price
16:40 15,468 @ 397.43p
16:35 18,278 @ 398.00p
16:35 7 @ 398.00p
16:35 357 @ 398.00p
16:35 242 @ 398.00p

OXB Key Personnel

Chair Roch Doliveux
CEO Frank Mathias
CFO Lucinda (Lucy) Crabtree

Top of Page