Testing demand buoyed by lockdown easing14 Apr 2021 20:55
The article refers to SourceBio, which is in the same business. The ironic thing being that the EV/EBITDA ratio for SBI is approximately 9.75, how does that compare? NCYT EV/EBITDA 0.75, therefore SBI has a valuation > x10!! Absolute madness, you think that NCYT was a basket case!!
New article today in the IC mentions SBI and how "testing will only become more important – in turn drawing greater levels of investment":
Https://www.investorschronicle.co.uk/news/2021/04/14/testing-demand-buoyed-by-lockdown-easing/
"SourceBio International's (SBI) IPO on the junior market took place in October. While 2020 results showed a more than doubling of annual revenues to £50.7m, over two-thirds of that figure stemmed from SourceBio’s new infectious disease testing business, which includes workplace Covid testing and consumer ‘test to release’ travel kits."
It also notes re SBI's partner Oxford Nanopore:
"Oxford Nanopore is a case in point. The group secured a £113m contract last summer to supply the UK government with its ‘LamPORE’ rapid testing kit for Covid-19. Quite a sum compared with Oxford’s 2019 revenues of £52m.
The company, which was spun out of Oxford university in 2005, focuses on genomic sequencing technology. Its expertise has been used during the pandemic to track Covid-19 variants around the world.
In March, Oxford unveiled plans for a London flotation – and as Nilushi Karunaratne explored last week, it could be valued at more than £4bn by one estimate."
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