Oxford Biomedica (OXB)

Sector:

Pharma and Biotech

Index:

FTSE Small Cap

201.00p
   
  • Change Today:
      3.80p
  • 52 Week High: 470.00p
  • 52 Week Low: 166.80p
  • Currency: UK Pounds
  • Shares Issued: 99.96m
  • Volume: 191,302
  • Market Cap: £200.91m
  • RiskGrade: 125

Oxford Biomedica swings to profit on Covid-19 vaccine sales

By Frank Prenesti

Date: Wednesday 29 Jun 2022

LONDON (ShareCast) - (Sharecast News) - Covid-19 vaccine producer Oxford Biomedica swung to a profit in the half year on the back of a surge in revenues through its partnership deal with AstraZeneca and announced that Serum Institute of India has agreed to invest £50m in the group in return for a 3.9% stake in the company.
The company on Wednesday said operating core earnings rose to £27.1m from a £0.4m loss. Revenue increased by 139% to £81.3 m. On a pre-tax basis profit for the six months to June 30 amounted to £19.2.m, compared to year-on-year losses of £6.1m.

Group operating earnings before interest, tax, depreciation and amortisation for the second half were expected to be higher year on year, but lower than the first six months as a result of an increase in operating expenditure levels, the company said.

"The exceptional financial results that we have reported reflect our strong progress across the business as we continue to demonstrate our world leading expertise in gene and cell therapy," said chief executive John Dawson.

"As we move from strength to strength, and with rapid growth in the cell and gene therapy market, we are in a great position to maximise on the opportunities ahead, both in lentiviral vectors as well as other viral vector types and look forward to the remainder of 2021 and beyond with considerable confidence."

Operating expenses fell 19% to £23.6 million, which the company pinned on a higher recovery of batch manufacturing costs, which was reflected in increased cost of goods.

Oxford Biomedica said it continued large-scale commercial manufacture of AstraZeneca's Covid vaccine from three manufacturing suites. The two companies in May committed to increase the number of batches in the second half of the year 2021 - leading to Oxford lifting forecasts of cumulative revenues from the contract to be in excess of £100m by the end of the year.

In a separate statement, Oxford Serum Institute of India had agreed to invest just over £50m in the group in return for a 3.9% stake in the company.

Proceeds of the deal will be used to fund the development of the fallow area at Oxbox, the group's manufacturing facility based in Oxford "into a flexible advanced manufacturing space and the validation of several independent cGMP suites, expected to come online in mid-2023", Oxford Biomedica said.

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 201.00p
Change Today 3.80p
% Change 1.93 %
52 Week High 470.00p
52 Week Low 166.80p
Volume 191,302
Shares Issued 99.96m
Market Cap £200.91m
RiskGrade 125

OXB Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
42.06% above the market average42.06% above the market average42.06% above the market average42.06% above the market average42.06% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Price Trend
78.17% below the market average78.17% below the market average78.17% below the market average78.17% below the market average78.17% below the market average
43.86% below the sector average43.86% below the sector average43.86% below the sector average43.86% below the sector average43.86% below the sector average
Income Not Available
Growth
4.75% above the market average4.75% above the market average4.75% above the market average4.75% above the market average4.75% above the market average
51.35% above the sector average51.35% above the sector average51.35% above the sector average51.35% above the sector average51.35% above the sector average

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 7
Sell 0
Strong Sell 0
Total 10
neutral
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 28-Mar-2024

Time Volume / Share Price
18:00 22,539 @ 200.71p
16:35 42,031 @ 201.00p
16:35 1 @ 201.00p
16:35 209 @ 201.00p
16:35 290 @ 201.00p

OXB Key Personnel

CFO Stuart Paynter
CEO Frank Mathias

Top of Page