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HARDMAN & CO RESEARCH Hardman & Co Research: Oxford BioMedica (OXB): De-leveraging the balance sheet

Directive transparence : information réglementée

18/06/2019 08:15

Hardman & Co Research
Hardman & Co Research: Oxford BioMedica (OXB): De-leveraging the balance sheet

18-Jun-2019 / 07:15 GMT/BST


Hardman & Co Research: De-leveraging the balance sheet

Oxford BioMedica (OXB) is a specialist, advanced therapy, viral-vector biopharma company. It offers vector manufacturing and development services, while developing proprietary drug candidates, with its LentiVector(R) platform. 2018 saw significant growth in gross income, primarily through licensing deals, to deliver OXB's first underlying operating profit. OXB is, however, carrying a significant loan of $55m, which is relatively expensive with an interest rate of 9% plus US LIBOR, and also exposes it to forex risk. Equity financing of £53.5m from Novo Holdings A/S has been agreed, allowing repayment of the loan and securing a strategic partner. Please click here for the full report:

https://www.hardmanandco.com/research/corporate-research/de-leveraging-the-balance-sheet/

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825987  18-Jun-2019 

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