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Yes mine was about 15% down so must have been.
My allocation via Primary Bid got scaled back by a modest 10%, which implies the subscription has been fully taken up.
Net loss for the quarter ended September 30, 2021 was $(30.6) million or $(0.54) per share, compared to a net loss of $(28.2) million or $(0.62) per share for the same period in 2020.
Total operating expenses for the quarter ended September 30, 2021 were $32.3 million, compared to $28.8 million for the quarter ended September 30, 2020, and consisted of research and development expenses and general and administrative expenses.
Oxb must be very confident that they can bring something to the table and turn around the fortunes of this company as cashburn is a real issue and R&D is very expensive and slow. Sounds like the early days of Oxb….Homology say they have funds that will see them through to q1 2023.
Looks like the placing price will be 810p. Decent discount from yesterday but there or there abouts the closing price today, wonder if the market knew or whether they've just priced it at closing? I was hoping there would be a discount on the closing price but all things considered 810 feels OK and plenty of room to grow
At least it’s the weekend now. Not sure what is going to change sentiment here in the short term !
On 13 December 2021, Oxford Biomedica announced that Novartis extended the terms of its initial commercial supply agreement to the end of 2028 and Oxford Biomedica regained the rights to its LentiVector® platform relating to three CAR-T targets, including CD19 targeted therapies. As result of the agreement Oxford Biomedica has the right to work with potential pharmaceutical and biotech partners other than Novartis across all CAR-T targets. In addition, under the terms of the new agreement Novartis has been granted additional flexibility in ordering of GMP batches across Oxford Biomedica's multiple GMP facilities but will no longer have a minimum order commitment;
On reading the up date I notice
OXB have now up dated the market see below
www.lse.co.uk/rns/OXB/us-agreement-and-proposed-placing-of-shares-ymbfn1ztsoepfso.html
I would still prefer a take over from another company at this price .
BE HAPPY
Dave
OXB have just updated it's web site . personally I would prefer a take over offer right now ,see web site below
www.lse.co.uk/rns/OXB/us-agreement-and-proposed-placing-of-shares-ymbfn1ztsoepfso.html
BE HAPPY
DAVE
I have been trying to get an angel on why the OXB price has collapsed .The last time this fell 50%, was when our founders wife sold her shares and Sanofi handed back Trovax .
Any way I have found out a bit more about the joint venture between Oxford Bio solutions, and the American company Homology, primarily they want to set up new manufacturing /lab facilities in the US ,see web sit page below
www.oxb.com/OxfordBiomedicaandHomologyMedicines
As we know our AZ contract was for 3 years from Nov 2020,which means it is now running down ,the Novartis contact which has been extended is also running down over the next 3 years ,and with no evidence of any of our lead drugs coming to market over the next 3 years, things don't look good for OXB from the end of 2023 ,and with Sanofi handing back our eye products ,OXB income streams after 2023 don't look good.
Therefore, maybe this joint venture is their answer to that gap ,but why would our C.E.O not want to over see this venture ?
As we all ready know Novartis are also building a new big manufacturing site in the USA, for their Bio Meds, as they want to bring all their Bio product production under one roof in the state's .
To me OXB should be telling us more about this JV and the price they expect to get, as the document I have seen talks of £130m and £80m.To be honest, I would have preferred a take over of OXB ,I suppose it is possible that A.Z or one of the other big boys could step in ,and offer £10 +per share, if they did, I would snap their hand off
BE HAPPY
Dave
for
Yes thought about about a small flutter through Primary Bid and then did a little research.Buying into a joint venture with a loss making outfit that seems to have plenty of cash and then Oxford would take 80% rather than 50:50. I know joint ventures are all the rage but with the CEO leaving there are enough warning flags for me to pass on this one. I wonder what Neil Woodford would do.
The CEO departing recently is a little strange. If this is such a great deal why not hang around until completed. The new companies share price has performed very poorly over the last 5 years, obviously needs a cash injection and could be quite costly to run.
Hopefully Oxb haven’t got to big for their boots..
I've put a small amount of money into primary bid but to be honest I'm getting the same vibes that this may be a bad call. The SP keeps sinking and the fact they've extended the deadline means that they're not being picked up in the numbers expected. That said, it's hard to tell if that's specific to this share or just a sign of a choppy market at the moment. Anyway, am I can hope for now is that they put a decent discount on top of the current SP to give me a shot at getting in at a good price and hope that the IIs are in so it doesn't tank further after bookbuilding.
Given that the share price has nearly halved over the past few months and today’s reaction to the RNS we can see that the market is not looking very favourably on our short term prospects.
Let us hope they can make this strategy work very quickly otherwise we will just fade away. Not pleased to say this as I have for me, a considerable amount invested looking for this share to come good.
I sold some time ago but am suspicious of primary bid offer and intend to wait and see.
I am a possible bottom feeder who admired OXB for many years but became fed up with the lack of return. I was never quite sure if I had backed a duff company or a good one that the markets were under valuing. Today, not sure but tempted by the sp.
Book building doesn't look like it is going well. They keep extending the application deadline.
Stevec, yes imv it is a good company with good prospects but like many others the ceo's ambition may or may not be to maximise shareholder returns. ref this offer - the fall looks overdone because it is only around 10% of mcap and much of that is already earmarked for ii's . If by some stroke of luck the AZ vaccine was found to be superior to the pfizer vaccine [ because it had greater impact on T cells]this would go through the roof. I am unsure whether to add or not.
Yes and if I hadn't bought last week I probably would be now and wait hopefully for the bounce.
We are completely in the dark - as usual.
Hope the hangover was worth it!
Out for the first time for a while tonight with a few friends so good job the market is closed tomorrow!
Would make you wonder if the recent sp has been manipulated at the expense of the pi’s to allow certain investors to buy into this new issue at a cheap price? On the plus side this is perhaps only a temporary blip! All very complicated.
Slightly hungover this morning. Seems to be scant on detail and overly complicated. One thing for sure is Oxb would make a great boat….it never leaks!
Steve
You have asked the question I was going to.
There are no details that I can see about the price or the terms e.g. 1 for every 3 held .
Also (and I realise this is only a personal preference) I don't like Primary Bid. Why couldn't it have been a simple rights issue for existing pis? This overcomplicates the whole thing but until we get a price and terms I have no idea what it means. Clearly the market doesn't like it as down we go.
I am beginning to think that OXB doesn't want us pis although we were the ones that funded it and kept it going in the early days. IIs now the route for them imho so I will be looking to exit (despite having bought last week before the latest fall) as soon as I can. Disillusioned I am afraid
Does anyone have an opinion on the primary bid offer? Is this a good company? The SP is down but there's no details on what price the placing will be at
Oxford Biomedica broadens leading viral vector offerings by incorporating Homology's established AAV capabilities into a newly-formed AAV Manufacturing and Innovation Business in the US with Homology as 20% owner
Proposed Placing to raise total gross proceeds of approximately £80 million
I think the recent fall here has caught many of us on the hop. My portfolio is down but saved by banking stocks but my Baillie Gifford and Legal and Generals funds have taken a real hit. Was close to selling some Aviva ( biggest holding)on Monday and banking some profit but managed to sit on my hands luckily as it is heading back towards its year high.
Kern, your recent buy could seem like good value in a few months. Keep well.
After banks I should of put “now” :-)
I personally wouldn’t touch any shares unless it’s banks till about 1 to 2 weeks after the interest rates go up. Hope both you and shatter are well. Things will turn but it’s a matter now of how long it will take. :-)