 takeiteasy,
I like to read it first but had other priorities this morning (and still haven't read it all).
The 2023 headline numbers are what they told us they would be.
That impairment charge is huge, and is something we talked about here after it was first mentioned in The Times article. It is (to quote Plato) something I'm half chips / half rice about. On one hand it's sobering how much potential was lost there with their demise, but on the other hand it shows just how much later stage work like that is worth to us (if it runs the course).
Stuart told us last year words to the effect that he was wrapping every cost up into 2023 (everything including the kitchen sink) to give the post reset business a clean start from 2024. He's obviously done that.
My accountancy knowledge isn't great here, but I'm presuming that from next year onwards he can offset 50% of our tax due against this until it's gone?
I was expecting 50+ programmes but really hoping for more. It's 51 so that's fine.
Roch has told us that the new reporting system is here (presumably that table?) and I guess they will talk more about that in the presentation.
I'm also presuming that the 2nd commercial programme there is something we inherited from ABL (if not then that is big news they haven't told us about yet) but as I say I haven't read it all yet.
My big hope (with the results being a little late this year and the long notice of them) was that they wanted to get a headline event in. That hasn't happened, so it may have been me seeing what I wanted to see or it may simply have dragged on and couldn't be signed in time - it's something we will never find out.
Hopefully the webcast will give a few teasers for the near term. |
We have survived the first hour of trading without any violent movements either way.
The results summary contains no obvious surprises and confirms that we are on the expected track commercially with some adjustments financially for planned corporpoate events.
Confidence, which has been under pressure for many months, requires that expected objectives continue to be achieved.
A period of underpromise and overachievement will be the best recipe for a steady advance from here I think. |
breaking out |
Has that feeling a few will sell out in the first hour or 2 and then go higher-just my hunch! |
Its a reassuring 'full steam ahead' with confirmation that the decks are scrubbed and bristol fashion post Homology.We clearly don't wish to slip back below 220p.The question and answer session will determine the days price move. |
It could just be a timing thing |
GJ - agreed, Harry has been stunned into silence :) |
All seems in line with expectations, no rabbit out of the hat. |
Fair assessment reddirish |
The 50% growth in the enquiries pipeline is encouraging: a question for the Q&A would be the current level of conversion from pipeline to order book . Reiterated guidance should be enough to underpin the current share price give or take 10-15%, though there is nothing else (so far) in my mind to prompt it further. We'll wait to hear what else might be indicated at the presentation later today. |
Splitting hairs here GH, but the results should be as already guided - so something like 90m sales and a 50m loss. The interesting bit is going to be 2024 guidance and whatever else they are up to / have been up to ;) |
Good luck all with results tomorrow |
Just shows how things change. In most past years today would have been rife with predictions covering a whole spread of possibilities for tomorrow - some a bit optimistic even by my standards.
2024 seems to be a year of tightened belts, and if Mrs Trellis has no spare money this year then it's not going into a punt on OXB is it? |
I would be inclined to look at this the other way Dom. We understand that OXB have vectors for sale, and that if a partner choses our vector and process development then they are pretty much tied to us for manufacturing, but, we will also work on any partner's vector where they have no suitable production facility or just need more capacity - for instance the AZ AV in their vaccine wasn't our AV.
With that in mind, then for the CGT CDMO market to be $20bn by 2028 (remember that's CDMO fees, not total drug sales) then someone has to be making a lot of something and OXB are going to be at the front of that.
For the moment though I'm much more interested in Monday.
41 programmes at the interims in September. How many today, remembering that we recently inherited everything ABL had (including the one Phil found the other day)?
What will the guidance be for '24 now we have nearly a third of it in the bag?
Are they going to announce anything else (as per the Project Aquarius guidance at the interims)? |
Both I think Mr. President sir, sorry my mistake was saying 'lenti in a spray'. It was massive amounts of lenti for the liver. |
I thought that was cystic fibrosis Dom (the ongoing Boehringer Ingelheim partnership where they treat the first patients this summer). But it doesn't change the argument - that OXB are making a lot more money by selling shovels than they ever did finding their own gold. |
Was that not 3 years ago |
As I understood it, OXB were only responsible for the delivery using lenti in a spray. Not involved with the medication. |
That's a disappointment. We had heard positive things about how that was progressing. |
Ten years after dipping its toes into the gene therapy pool in a licensing deal with Spark Therapeutics, Pfizer has gained FDA approval for the acquired treatment.
The U.S. regulator has endorsed Beqvez (fidanacogene elaparvovec-dzkt) for adults with the bleeding disorder hemophilia B. It becomes the first FDA-approved gene therapy for Pfizer and the second in the indication following CSL and uniQure’s hemophilia B treatment Hemgenix, which became the world’s most expensive drug at $3.5 million when it was approved in 2022.
Pfizer had the chance to undercut its rival on price but decided to charge the same $3.5 million for Beqvez.
and for our younger viewers....
Sanofi parts ways with Oxford BioMedica on hemophilia tie-up inked by Bioverativ |
Looking better, good to see. |
I smell a Darktrace situation developing. |
M - You may have to be quick off the mark - or wait until the profit takers knock it back.
We're more than 30% off the bottom already. |
This is moving stealthily upwards
Haven't bought yet, waiting for Monday's results to see how the land lies but you can sense improvement rather than reversal |
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