Oxford Biomedica Investors - OXB

Oxford Biomedica Investors - OXB

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Stock Name Stock Symbol Market Stock Type
Oxford Biomedica Plc OXB London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
9.50 2.57% 379.50 16:29:59
Open Price Low Price High Price Close Price Previous Close
360.00 360.00 386.50 379.50 370.00
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Industry Sector
PHARMACEUTICALS & BIOTECHNOLOGY

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Top Posts
Posted at 28/10/2022 13:13 by dominiccummings
Almost 50% in large investors.
Posted at 21/10/2022 11:29 by gigabit
This is shaky ground. The information provided (which I have included below) formed the basis on which investors were invited to participate in the share placing. Was significant further information being deliberately withheld and potential investors misled? Surely you are not suggesting that.

Incidentally I see that the option price is actually 5.5x revenue so I underestimated the cost by 10% although there is a cap at GBP 55.5 million which, no doubt, you will find very reassuring!

Pursuant to the terms of the LLC Agreement, at any time following the third anniversary of completion of the Transaction, Oxford Biomedica US will have the option to purchase from Homology all of Homology's membership interests in Oxford Biomedica Solutions (the "Call Option") and Homology will have the option to require Oxford Biomedica US or Oxford Biomedica Solutions to purchase all of Homology's membership interests in Oxford Biomedica Solutions (the "Put Option"). The purchase price payable by Oxford Biomedica US or Oxford Biomedica Solutions on exercise of the Call Option or the Put Option will be equal to the amount Homology would be entitled to receive upon a liquidation of Oxford Biomedica Solutions assuming all of the assets of Oxford Biomedica Solutions' AAV Manufacturing and Innovation Business are sold for a purchase price based on a valuation equivalent to a multiple of 5.5 times the revenue of Oxford Biomedica Solutions over the twelve months prior to the date of exercise. In addition, the maximum purchase price payable by Oxford Biomedica US or Oxford Biomedica Solutions on exercise of the Call Option or the Put Option will be capped at US$74.1 million (GBP55.4 million). Additionally, upon a change of control of Homology, Oxford Biomedica US has the right to purchase all (but not less than all) of Homology's interests in Oxford Biomedica Solutions for the same purchase price payable on exercise of the Call Option or the Put Option, except that, on a change of control of Homology occurring within one year of completion of the Transaction, only Oxford Biomedica Solutions' revenue from the date of completion of the Transaction to the closing date of the change of control transaction will be included in the calculation of the purchase price. The purchase price payable for Homology's interests in Oxford Biomedica Solutions is subject to the same maximum price as described above.

Posted at 19/10/2022 14:24 by gareth jones
Where does this stop? The company (presumably) has regular briefings with major investors, house brokers go around selling the story to institutional investors, the companies PR makes as many avenues of knowledge sharing as they can, they make sure science editors or major newspapers are aware of the opportunities. The blackest hour hopefully is just before dawn but this seems a relentless downward spiral with no obvious kick back!I am a very LTH as most are aware.
Posted at 08/10/2022 21:46 by qnq
Gigabit, the whole market crashed on Friday on US data.
youre arguments always negative, not seen a single positive one. why dont you look into how the company positioning as a global leader in the lenti vector. have you read aboit the follicular leukemia? or you read and ignored it!
this company is becoming more american and away from the rubbish and destructive UK investors and their hedge funds that short to cause pain without thinking about the damage they cause. bet you people in these hedge funds never think cancer can knock on their doors or doors of people they care for. peob you think the same.
I am long this company and I repeat my view, in the US it will be worth $3-$5 bln.

Posted at 26/9/2022 08:42 by marcusl2
Trader who made billions in 2008 buys pound near all-time low
MON, SEP 26, 2022 - 4:29 PM UPDATED MON, SEP 26, 2022 - 4:30 PM
25689103H168885.jpg
The Artradis Fund Management office in Singapore in 2006. Stephen Diggle founded the firm in 2001. The firm went on to earn its name for lucrative bets in 2007 and 2008. PHOTO: BLOOMBERG
A FORMER hedge fund manager who shot to fame for a US$2.7 billion volatility trading gain during the global financial crisis is buying the pound on a day when the currency has slumped to an all-time low.

Stephen Diggle used 10 per cent of the assets of a “small fund” to buy sterling to finance investments in the UK, especially stocks of companies that have earnings in the greenback, but costs in the British currency, he said in an e-mail. He didn’t specify the name and size of the fund.

“I’m not calling a trading low. Who the hell knows?” said the Singapore-based investor. “But against a 5- or 10-year average, sterling is very cheap now.”

Investors are dumping the currency after British Chancellor of Exchequer Kwasi Kwarteng vowed to implement more tax cuts, risking sending the country’s inflation rate and government debt surging. Sterling sank the most since March 2020, at the outset of the Covid-19 pandemic.

Diggle co-founded volatility hedge fund Artradis Fund Management in 2001. Artradis earned its name for lucrative bets in 2007 and 2008. Later his family office, Vulpes Investment Management, invested in assets including biotechnology ventures, avocado orchards in New Zealand, German real estate and European rearmament firms, the stocks of which surged on the Russian invasion of Ukraine.

The sterling bet wasn’t just opportunistic currency trading, as the firm has investments in the UK that need the pound, Diggle wrote, adding that he doesn’t see

HTTPS://www.bloomberg.com/news/articles/2022-09-26/trader-who-made-billions-in-2008-buys-pound-near-all-time-low?leadSource=uverify%20wall

Posted at 23/9/2022 20:50 by marcusl2
Remember on 7th June when OXB were £5.02

Oxford Biomedica, Smith & Nephew 'vulnerable' to takeover
RBC anticipates more takeovers in the healthcare space after a flurry of recent bids for mid-cap listed assets

Oxford BioMedica PLC - Oxford Biomedica, Smith & Nephew “vulnerable” to takeover
Oxford BioMedica PLC (LSE:OXB), Smith & Nephew PLC (LSE:SN) and Spire Healthcare Group Plc (LSE:SPI) are among UK midcap health-care companies "vulnerable” to takeovers from private-equity (PE) firms, investment bank RBC Group says.

The stocks trade below historical multiples and have under-geared balance sheets - making them ripe for "PE firms seemingly well-funded and large trade players having strong balance sheets, and in some cases post-COVID earnings holes to fill," according to the bank.

A trade buyer or investment firm seeking greater exposure in cell and gene therapy, with the ability to “leverage R&D costs”, may be interested in Oxford Biomedica, RBC said.

The bank’s analysis of the listed biotech company found its earnings were “depressed by very high investment into R&D, as well as underutilisation of existing capacity”.

The company is estimated to post a net loss in 2022, rocked by finance expenses that threaten to lessen the earnings per share for shareholders, despite boosting its revenue by 63% to 142.8m in 2021.

Oxford Biomedica is currently trading on a multiple of “3-4x”, RBC said, whereas a potential IRR could be 90% for an investor willing to use debt to finance its research and development activity.

HTTPS://www.proactiveinvestors.co.uk/companies/news/984190/oxford-biomedica-smith-nephew-vulnerable-to-takeover-984190.html

Posted at 16/9/2022 17:34 by harry s truman
Investors Chronicle and Times out with stories. Bot manage to list different figures and quote analysts who weren't on the call.

The headlines are in both cases about the vaccine work and not the company's achievements.

hTTps://www.investorschronicle.co.uk/news/2022/09/15/waning-vaccine-demand-puts-oxford-biomedica-in-the-red/

Waning vaccine demand puts Oxford Biomedica in the red

The company is counting on new partnerships to bring it back to profit in the years to come

September 15, 2022
By Jennifer Johnson

Swings to an operating loss

£42mn in net cash, but short-term debts loom

Oxford Biomedica (OXB) is working hard to transform its business in the wake of plummeting sales of the AstraZeneca (AZN) Covid-19 vaccine. The specialist drugmaker, which made its name in cell and gene therapies, has signed five new or expanded customer partnerships in the year to date.

But these new agreements have yet to feed through to the bottom line in a meaningful way, and the company swung to an operating loss of £19.2mn compared with a £19.7mn profit in the same timeframe last year.

Looking ahead, Biomedica appears to be positioning itself for transatlantic expansion as a contract development and manufacturing organisation (CDMO), or provider of outsourced drug development services. In January, the company announced it had entered into an agreement with Boston-based Homology Medicines to establish Oxford Biomedica Solutions (OBS), a maker of viral-vector-based vaccines.

Biomedica has an 80 per cent stake in the new venture. Costs related to the acquisition drove operating expenses up to £56.2mn, while free cash flow generation slipped into negative territory at £30.5mn. At the end of last month, the company had £42.1mn of net cash on its books. With £64mn of short-term debt up for repayment in March 2023, investors have some reason to be jittery, at least short of any rescheduling.

While broker Liberum has said it anticipates a restructuring and partial repayment of the loan facility in the first quarter of next year, there’s clear reason to hesitate while Biomedica transforms. The integration of OBS is due to be completed sometime in the first half of 2023 and the business is expected to reach the Ebitda breakeven point in the first half of 2025. For now, Oxford Biomedica is a work in progress. Hold.

Last IC view: Hold, 600p, 20 April 2022

Posted at 30/6/2022 20:58 by marcusl2
Hedge funds are hunting for bargains in the beaten-down biotechnology sector, betting that a vicious sell-off has run its course and that lower valuations will breathe life back into deal flow.

A Nasdaq index of biotech stocks has tumbled almost a third from its all-time high last August, as hopes about the Covid-19 pandemic boosting the industry gave way to worries about frothy share prices. The sharp sell-off has, in turn, left many companies struggling to raise new funding.

However, some hedge fund managers now believe that prices have fallen too far relative to firms’ drug development prospects and their remaining cash levels. Those investors have started buying up stocks on the cheap, or launching portfolios to capitalise on the turmoil.

“This is the worst correction [in the biotech sector] I have seen in my 22-year career”, said Michele Gesualdi, founder of London-based investment group Infinity Investment Partners. “We have never seen stress like this.”

Gesualdi’s firm, which manages $1.5bn in assets, recently launched a new fund specifically to focus on opportunities in the life sciences sector. He added that the sector is, on all metrics, “as cheap as it has ever been”.


Industry insiders attributed the sell-off in the sector in part to the departure of so-called tourist investors who do not specialise in biotech but who were hunting for returns during the early stages of the pandemic. Investors have also grown concerned about regulatory scrutiny of dealmaking and the possibility that companies may start to run out of funding.

The ensuing market reversal has proved particularly difficult for a sector that had grown accustomed to record-low interest rates and a seemingly never-ending equity bull market. Such companies’ future profits are highly valued when interest rates are near zero, but appear less so when borrowing costs rise.

“Coming out of the Covid tunnel, seeing inflation rise at [a] higher pace than predicted by any central bank, the [biotech] sector has faced unexpected adversity,” said Philippe Wolgen, chief executive of Australian biotech Clinuvel Pharmaceuticals, whose share price has fallen from almost A$45 in September to A$15 (US$10).

After a “catastrophic” fall in the sector, fund managers and bankers “are openly expressing their aversion to perpetuating these risky ventures”, he added, referring to backing companies with little prospect of revenues in the near term. However, he said investors were starting to look at “genuine business[es]” in the sector.

Mergers and acquisitions activity, meanwhile, traditionally a major support for valuations as big pharmaceutical companies look for ways of building their drugs pipeline, has also dried up. The deal count in 2022 has fallen to its lowest level for the opening six months of a year in more than a decade, according to Evaluate Pharma.

The sell-off has hit some specialist healthcare hedge funds hard. One of the highest-profile funds to suffer is New York-based Perceptive Advisors, which lost about 32 per cent last year and is down 35 per cent this year to late June, according to numbers sent to investors and a person familiar with the performance.

California-based Endurant Capital, run by Vietnamese trader Quang Pham, lost 6.8 per cent in its Health Master fund this year to the end of May, although it has made back some ground in June. Last year San Francisco-based Asymmetry Capital shut after losses, with its founder highlighting how difficult life had become for small, biotech-focused funds.

Nevertheless, some managers believe now is the right time to build exposure to the sector.

“It’s the one area where there’s been complete and utter capitulation,” said Andrew Clifford, chief executive of Sydney-based Platinum Asset Management, which manages $14bn in assets. The firm is launching an EU-regulated version of a health sciences fund it already manages, as it tries to profit from the sell-off.

SYZ Capital has also been adding to its positions in funds trading the sector, and sees opportunities in the US and, longer term, in China. “We are positive on biotech”, said Cedric Vuignier, head of liquid alternative managed funds.

Recommended
Biotech
Biotechs face ‘funding Sahara’ as easy money runs dry

UBS’s hedge fund unit O’Connor earlier this year hired a team from Alera Partners to run a new strategy betting on rising and falling prices and focused on healthcare therapeutics. The strategy is part of O’Connor’s multi-strategy fund, but could eventually be launched as a separate fund, said a person familiar with the firm’s plans.

“Healthcare is a perfect example of where we want to be exposed,” said chief investment officer Kevin Russell, who believes there is capacity for more than $1tn of deals in the sector as pharma companies try to build their drug pipeline.

Russell added that there had been “very little distinguishing between stocks” by investors.

“We think [this] is a function of a lack of experience and scientific knowledge” among investors, and should present opportunities for O’Connor to make money betting on rising and falling prices, he said.

laurence.fletcher@ft.com

HTTPS://www.ft.com/content/bfd7d96f-2af9-4614-b1eb-78949365de9a

Posted at 17/6/2022 14:45 by marcusl2
Michael Strobaek, global chief investment officer at the Swiss lender, said financial markets had been caught in a “perfect storm”, with surging inflation, higher interest rates and the war in Ukraine all taking their toll on investor sentiment.

Mr Strobaek said this storm had intensified in recent days after the Federal Reserve announced its biggest interest rate rise since 1994 and the Swiss National Bank also wrongfooted markets with aggressive monetary policy tightening.

He added: “Both equities and bonds have corrected, which means that investors have had almost no place to hide. Even well diversified portfolios have taken a hit.”

However, the Credit Suisse executive said investors should not lose faith, adding that it would be “ill-advised” to exit markets now.

Posted at 28/1/2022 10:17 by chillpill
Take it or leave it. Don’t moan about it!

OXFORD BIOMEDICA PLC

(" Oxford Biomedica " or the " Company ")

Retail Offer by PrimaryBid

Oxford Biomedica plc ( LON : OXB ), a leading cell and gene therapy group, is p leased to announce, a conditional offer for subscription via PrimaryBid (the "Retail Offer") of new ordinary shares of 50 pence each in the capital of the Company ("Retail Offer Shares") .

The Company has also announced today that it has entered into an agreement with Homology Medicines, Inc. (Nasdaq: FIXX) ("Homology"), pursuant to which Oxford Biomedica (US) Inc. ("Oxford Biomedica US") will acquire an 80 per cent. ownership interest in a newly formed AAV focused manufacturing and innovation business, Oxford Biomedica Solutions LLC ("Oxford Biomedica Solutions" or "Oxford Biomedica Solutions' AAV Manufacturing and Innovation Business"), at an implied pre-money Enterprise Value of approximately US$175 million (GBP 131 million) (the "Transaction").

In addition, the Company has also announced today that it proposes to raise total gross proceeds of approximately GBP80 million (gross) pursuant to: (i) a non-pre-emptive placing of new Ordinary Shares with certain existing shareholders and other institutional investors of up to 4,858,410 new ordinary shares (the "Firm Placing Shares") (equating to 5.6 per cent. of the Company's existing issued share capital as at the last practicable date prior to this Announcement), utilising the unused authorities granted at the annual general meeting of the Company for 2021 to issue ordinary shares for cash on a non-pre-emptive basis (the "Firm Placing") and (ii) subject to shareholder approval, a non-pre-emptive conditional placing with certain existing shareholders and other institutional investors of a further number of new ordinary shares (the "Conditional Placing Shares"), to be issued under the new authorities to be sought at a general meeting of the Company to issue ordinary shares for cash on a non-pre-emptive basis (the "Conditional Placing") such that the total gross proceeds from the Firm Placing, the Conditional Placing and the Retail Offer together reach an amount of approximately GBP80 million (the Firm Placing, the Conditional Placing and the Retail Offer, together being the "Equity Financing"). The Equity Financing will be conducted through a bookbuilding process (the "Bookbuild"). The Joint Bookrunners of the Equity Financing reserve the right to issue additional Conditional Placing Shares.

The Retail Offer is conditional on (i) completion of the Firm Placing and the Conditional Placing, such that if both the Firm Placing and the Conditional Placing do not complete, the Retail Offer will not complete and (ii) shareholder approval of the issue of the Retail Offer Shares at the general meeting of the Company to be convened in early March 2022 (the "General Meeting"), such that if shareholder approval is not obtained, the Retail Offer will not complete.

Applications will be made for the Retail Offer Shares to be admitted to the premium listing segment of the Official List (the "Official List") of the Financial Conduct Authority (the "FCA") and to be admitted to trading on the main market for listed securities of London Stock Exchange plc (the "London Stock Exchange") (together, "Admission"). Settlement for the Retail Offer Shares and Admission is expected to take place on or around 8.00 a.m. (London time) on or around 11 March 2022, and dealings in the Retail Offer Shares will commence at that time. The date for Admission of the Retail Offer Shares is subject to the timing of admission of the Conditional Placing Shares and the date that the Company posts a circular to its shareholders to convene the General Meeting. When the Company posts the circular to shareholders it will confirm any changes to the timetable for Admission of the Retail Offer Shares.

At completion, the net proceeds of the Firm Placing, the Facility and the Company's current cash balances will allow the Company to acquire the 80 per cent. ownership interest in newly-formed Oxford Biomedica Solutions' AAV Manufacturing and Innovation Business for a US$130 million (GBP97 million) cash consideration payable to Homology and a US$50 million (GBP37 million) capital injection into Oxford Biomedica AAV Manufacturing and Innovation Business to fund growth. Should the Firm Placing not complete, then the Company would propose to utilise the Facility and its existing cash resources to fund the Transaction.

The net proceeds of the Firm Placing, the Conditional Placing, the Facility and any other surplus funds after completion of the Transaction will fund the Company's existing capital requirements in respect of Oxbox and Windrush Innovation Centre (estimated at GBP65 million), cover the expenses of the Transaction, the Placing and the Facility and provide additional working capital for the Group.

Retail Offer

The Company values its retail investor base and is therefore pleased to provide private and other investors the opportunity to participate in the Retail Offer by applying exclusively through the PrimaryBid mobile app available on the Apple App Store and Google Play. PrimaryBid does not charge investors any commission for this service.

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