Oxford BioMedica touts strong first-half momentum ahead of meeting
Oxford BioMedica PLC reported ‘strong commercial momentum’ during the first half of the year, in a statement ahead of its annual general meeting on Wednesday.
The Oxford, England-based cell and gene therapy contract development and manufacturing organisation said it remains on track to deliver guidance set out in April, when it had forecast compound annual revenue growth of more than 35% for the four-year 2023 to 2026 period, as well as a ‘pivot to profitability’ in 2025.
‘We have delivered strong operational performance so far in the first half of the year, reflecting disciplined execution across our global sites and sustained commercial momentum,’ said Chief Executive Officer Frank Mathias.
‘The company reiterates its financial guidance today and remains focused on supporting clients across all stages of development. OXB remains confident in its near and medium-term targets as set out earlier this year.’
Shares in Oxford BioMedica were up 1.7% at 339.25 pence each in London on Wednesday morning. The stock has risen 4.2% over the past year.
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