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Share Name Share Symbol Market Type Share ISIN Share Description
Biopharma Credit Plc LSE:BPCR London Ordinary Share GB00BDGKMY29 ORD USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.006 0.63% 0.96 413,247 09:24:47
Bid Price Offer Price High Price Low Price Open Price
0.952 0.958 0.96 0.96 0.96
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Unknown 99.47 79.67 5.80 16.6 1,319
Last Trade Time Trade Type Trade Size Trade Price Currency
10:34:31 O 2,713 77.065 USD

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Date Time Title Posts
21/1/202307:02::: BIOPHARMA CREDIT PLC :::138

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Biopharma Credit (BPCR) Top Chat Posts

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Posted at 27/1/2023 08:20 by Biopharma Credit Daily Update
Biopharma Credit Plc is listed in the Unknown sector of the London Stock Exchange with ticker BPCR. The last closing price for Biopharma Credit was US$0.95.
Biopharma Credit Plc has a 4 week average price of US$0.94 and a 12 week average price of US$0.94.
The 1 year high share price is US$1.05 while the 1 year low share price is currently US$0.89.
There are currently 1,373,872,373 shares in issue and the average daily traded volume is 1,133,000 shares. The market capitalisation of Biopharma Credit Plc is £1,318,917,478.08.
Posted at 11/1/2023 16:22 by williamcooper104
Not sure it's a good comp - though it's a good fund - I hold it too OCSL is wider than just life sciences/biotech - lending to multiple sectors - plus its leveraged about 50/50 HTGC/TRIN/HRZN/TPVG are all BDCs that do life sciences biotech with wider tech venture lending - again they are all levered usually 1 for 1 - riskier than BPCR but worth a look at the right time in the market, or adding to cautiously (I've held HTGC for years) - they are volatile but often through of big special dividends - BDCs usually also have small equity positions/warrants which gives you more upside
Posted at 11/1/2023 15:43 by smidge21
OCSL (from Oaktree) looks an interesting companion to BPCR
Posted at 22/11/2022 11:32 by speedsgh
NEW INVESTMENT OF UP TO US$50.0 MILLION - HTTPS://polaris.brighterir.com/public/biopharma_credit/news/rns/story/wko18vx

BioPharma Credit PLC (LSE: BPCR), the specialist life sciences debt investment trust, is pleased to announce that it, through its fully owned subsidiary, together with BioPharma Credit Investments V (Master) LP ("BioPharma-V" and jointly with the Company, the "Lenders") has entered into a definitive senior secured loan agreement with Immunocore Limited ("Immunocore"). The Company will invest up to US$50.0 million and BioPharma-V will invest up to an additional US$50.0 million.

Based in the UK, Immunocore is a publicly traded biopharmaceutical company with a current market capitalization of ~US$2.9 billion (Ticker: IMCR - NASDAQ). Immunocore currently markets KIMMTRAK (tebentafusp-tebn), a treatment for metastatic uveal melanoma, a rare form of eye cancer. Approved by the FDA on 26 January 2022 and the EU on 4 April 2022, KIMMTRAK generated US$40.4 million in sales during the third quarter of 2022.

Under the terms of the transaction, the Company will invest up to US$50.0 million (US$25.0 million in the first tranche, which was drawn on 8 November 2022, and up to an additional US$25.0 million by 30 June 2024) and BioPharma-V will invest up to US$50.0 million in parallel, with the Company acting as collateral agent. The loan will mature in November 2028 and will bear interest at 9.75% per annum for the first tranche and 3-month SOFR plus 8.75 per cent. per annum subject to a 1.00 per cent. floor for the second tranche, along with an additional consideration of 2.50 per cent. The additional consideration with respect to the first tranche was paid at funding and will be due and payable with respect to the second tranche either at the funding of the second tranche or upon expiration of the second tranche commitment.

Pedro Gonzalez de Cosio, CEO of Pharmakon Advisors, LP. the Company's investment adviser said:

"We are excited to partner with Immunocore as it continues to advance in its mission. Led by a highly experienced management team, Immunocore is a pioneering, commercial-stage T cell receptor biotechnology company working to develop and commercialize a new generation of transformative medicines to address unmet needs in cancer, infectious and autoimmune diseases."

Posted at 22/11/2022 11:30 by speedsgh
Net Asset Value(s) and Monthly Factsheet - HTTPS://uk.advfn.com/stock-market/london/biopharma-credit-BPCR/share-news/BioPharma-Credit-PLC-Net-Asset-Values-and-Monthly/89605200

As at the 31 October 2022 the unaudited net asset value per Ordinary Share, including current period revenue, was 99.55 cents. The Company's factsheet will be located on the Company's website, hxxp://bpcruk.com.

[31/10/22: 99.55 cents per share]
[30/9/22: 102.17 cents per share]
[31/8/22: 101.36 cents per share]
[31/7/22: 101.67 cents per share]
[30/6/22: 100.72 cents per share]
[31/5/22: 99.81 cents per share]
[30/4/22: 100.83 cents per share]
[31/3/22: 100.11 cents per share]
[28/2/22: 101.03 cents per share]
[31/1/22: 100.07 cents per share]
[31/12/21: 99.26 cents per share]
[30/11/21: 98.94 cents per share]
[31/10/21: 100.23 cents per share]
[30/9/21: 99.62 cents per share]
[31/8/21: 99.22 cents per share]
[31/7/21: 100.38 cents per share]
[30/6/21: 99.80 cents per share]
[31/5/21: 100.93 cents per share]
[30/4/21: 100.27 cents per share]
[31/3/21: 99.85 cents per share]
[28/2/21: 101.40 cents per share]
[31/1/21: 100.84 cents per share]
[31/12/20: 100.37 cents per share]
[30/11/20: 99.91 cents per share]
[31/10/20: 101.13 cents per share]
[30/9/20: 101.00 cents per share]

Posted at 07/11/2022 09:42 by davebowler
Liberum-Increased flexibility in discount control mechanismMkt Cap £1,134m | Share price $0.96 | Prem/(disc) -5.3% | Div yield 12.0%EventIn order to reduce the costs to shareholders of the discount control mechanism and increase flexibility for the company, it has changed the discount control mechanism in two regards:If the discount is greater than 5% over a three-month period, the company is required to apply up to 50% of proceeds from debt repayments in purchasing company shares until such time that the two-week discount is less than 5% (previously 1%).If the discount is greater than 10% over a six-month period, the company is required to apply up to 100% of proceeds from debt repayments in purchasing company shares until the such time that the two-week discount is less than 5% (previously 1%). Liberum viewThis is an eminently sensible change to the discount control mechanism given the pressure put on the shares' discount to NAV and it follows best practice used in portfolio rebalancing where the most effective rebalancing rule is to rebalance once a limit is breached, but only to rebalance to the limit that was breached and no further to reduce costs. In this respect, it would have been even better for the company to rebalance only to a 10% discount to NAV instead of 5% in case the second trigger is met. But in the name of balancing investor goals of limiting the discount while reducing the costs of the discount control mechanism (which can be 3% of NAV for a round-trip of purchasing and then re-issuing shares), it makes sense to buy shares in case the second trigger is met until the discount is reduced to 5% on a two-week basis.
Posted at 20/10/2022 06:57 by jonwig
New loan:

https://www.investegate.co.uk/biopharma-credit-plc--bpcr-/rns/new-us-140.0-million-investment/202210200700044805D/

mature in October 2027 and will bear interest at a rate based upon the secured overnight financing rate (SOFR), subject to a SOFR floor of 2.5 per cent., and a margin of 7.75 per cent. per annum. A one-time additional consideration of 2.0 per cent. of the total loan amount is also payable upon funding of the loan.

SOFR is currently 3.05%.

Posted at 06/10/2022 08:28 by davebowler
Liberum-
Sale of Global Blood Therapeutics nets $42.9m in profits

Mkt Cap £1,132m | Share price $0.94 | Prem/(disc) -7.1% | Div yield 7.4%

Event

Pfizer completed the acquisition of Global Blood Therapeutics (GBT) on 5 October. BioPharma Credit had a $132.5m investment in a senior secured loan to GBT which was prepaid due to the transaction. As a result, BPCR received $175.4m including $42.9m in accrued interest, paydown, prepayment and make-whole fees for an IRR of 27.6%.

Liberum view

The IRR achieved with the GBT sale is the highest BPCR has ever achieved and one of the highest the asset manager of BPCR, Pharmakon, has ever achieved. The chart below is taken from the last annual report of BPCR with today's announcement added by us. It is an excellent result in a difficult time for biotech investments

Posted at 27/7/2022 09:50 by speedsgh
Net Asset Value(s) and Monthly Factsheet - HTTPS://uk.advfn.com/stock-market/london/biopharma-credit-BPCR/share-news/BioPharma-Credit-PLC-Net-Asset-Values-and-Monthly/88646139

As at the 30 June 2022 the unaudited net asset value per Ordinary Share, including current period revenue, was 100.72 cents. The Company's factsheet will be located on the Company's website, hxxp://bpcruk.com.

[30/6/22: 100.72 cents per share]
[31/5/22: 99.81 cents per share]
[30/4/22: 100.83 cents per share]
[31/3/22: 100.11 cents per share]
[28/2/22: 101.03 cents per share]
[31/1/22: 100.07 cents per share]
[31/12/21: 99.26 cents per share]
[30/11/21: 98.94 cents per share]
[31/10/21: 100.23 cents per share]
[30/9/21: 99.62 cents per share]
[31/8/21: 99.22 cents per share]
[31/7/21: 100.38 cents per share]
[30/6/21: 99.80 cents per share]
[31/5/21: 100.93 cents per share]
[30/4/21: 100.27 cents per share]
[31/3/21: 99.85 cents per share]
[28/2/21: 101.40 cents per share]
[31/1/21: 100.84 cents per share]
[31/12/20: 100.37 cents per share]
[30/11/20: 99.91 cents per share]
[31/10/20: 101.13 cents per share]
[30/9/20: 101.00 cents per share]

Posted at 28/6/2022 07:56 by davebowler
Liberum;
Small NAV gain expected after Epizyme takeover

Mkt Cap £1,053m | Share price $0.94 | Prem/(disc) -5.8% | Div yield 7.4%

Event

Ipsen has agreed to acquire Epizyme, one of the borrower's in BPCR's portfolio (representing 7.4% of total investments). The transaction is expected to close in Q3 2022. The main focus of the acquisition is Tazverik, a small molecule drug for the treatment of several cancer types. The drug was granted accelerated approval by the US FDA in 2020.

Epizyme is a biopharmaceutical company focused on cancer and other diseases through novel epigenetic medicines. Biopharma Credit has a $110m outstanding loan to Epizyme. The total facility to Epizyme is $220m, with the remainder funded by Biopharma Credit Investments V. Depending on the time of the prepayment, BPCR expects to receive between $3m-$7m in prepayment and make-whole fees.

Liberum view

BPCR's loans are typically structured to provide protection against cash drag from repayments in the form of prepayment fees and make-whole penalties. At 31 May 2022, BPCR had cash of $12m and $138m drawn under its credit facilities. We expect robust performance as 58% of the portfolio benefits from floating rate coupons. LIBOR floors on these loans range from 1-2% and further uplifts in LIBOR from current levels will deliver incremental improvements in returns. The prepayment penalties on the Epizyme loan will add between 0.2%-0.5% to NAV. We note recent weakness in the share price and believe the shares offer considerable downside protection at these levels. The company has a discount control mechanism in place if the discount trades at an average discount in excess of 5% in any three-month rolling period.

Posted at 15/12/2021 09:03 by davebowler
Liberum;
New investments of up to $113m in Evolus and Global Blood Therapeutics

Mkt Cap £1,008m | Share price $0.97 | Prem/(disc) -3.0% | Div yield 7.5%

Event

BioPharma Credit has announced two new investments worth $88m immediately and up to $25m over the next 12 months, alongside the BioPharma Credit Investments V fund. The two new counterparties are Evolus (up to $63m) and Global Blood Therapeutics (up to $50m). BPCR had $248m of cash at 31 October 2021.

An agreement has been reached with US-based Evolus for a senior secured loan, with BPCR committing $38m in the first tranche, followed by up to $25m by the end of 2022. Evolus markets Jeuveau, a neurotoxin used for aesthetics. The company reported H1 2021 revenue of $64m and trades at a market cap of $300m. The loan will mature in December 2027, paying interest at 3-month LIBOR plus 8.5% p/a, subject to a 1.0% floor along with an additional fee of 2.25% of the loan amount payable upon funding of the first tranche.

The Global Blood Therapeutics (GBT) investment follows an amended loan agreement resulting in BPCR investing an additional $50m in the GBT loan. GBT markets Oxbryta (voxelotor), used to treat sickle cell disease. Revenue over the first nine months of the year was $139m. An original $150m loan was agreed with GBT in December 2019 (BPCR invested $83m). The latest agreement for a third tranche totalling $100m (50:50 split between BPCR and BioPharma-V) will mature in December 2025. In exchange for lengthening the maturity of the first two tranches from December 2025 to December 2027, the syndicate will receive a one-time 1.25% fee.

Biopharma Credit share price data is direct from the London Stock Exchange
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