Oxford BioMedica shares fall as revenue to stay below 2022 level

(Alliance News) - Oxford BioMedica PLC on Monday said it was confident of delivering "another year of strong progress," noting strength of demand.

The Oxford, England-based cell and gene therapy contract development and manufacturing company predicted annual revenue growth and "further strong progress" in 2025.

For 2024, revenue growth in the range of 42% and 44% to GBP126 million and GBP134 million is expected, up from GBP89.5 million in 2023, but at best 4.3% lower than GBP140.0 million in 2022.

The firm anticipates operating earnings before interest, tax, depreciation and amortisation profit of the second half, but a "mid to high-teens" loss for the full-year.

Oxford BioMedica added: "Given the strength of demand the company is seeing, the commercial momentum in the business and the successful execution of the 'One OXB' strategy, management is confident of delivering another year of strong progress on revenues and Ebitda profitability in 2025, in line with its existing guidance."

The company will release 2024 results on April 9.

Oxford BioMedica shares fell 4.2% to 373.50 pence each on Monday morning in London.

By Tom Budszus, Alliance News slot editor

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