Oxford Biomedica Share Discussion Threads

[takeiteasy] 15/3/2024 17:05

Or is it our friendly partner adding to their 6% holding - as they said they would via market purchases. Let's see if we get any holdings announcement next week. If so, this will set a floor under the share price around 190p, but all needs to be confirmed so just a theory for now :)

[dominiccummings] 15/3/2024 16:48

Big short trying to close

[takeiteasy] 15/3/2024 16:37

so now we know why price dropped !

[smoothtosmooth] 15/3/2024 16:22

Looks like MMs trying to walk it down with small trades.

[takeiteasy] 15/3/2024 16:22

no support at all atm at any level confirming a view that any recovery is a pipedream for some - crikey, this firm is going to have nail down their defences with rivets to get any further share price recovery - did not feel they were disliked this muchhave a nice weekend all!

[harry s truman] 15/3/2024 15:57

Personally I've been very pleased with the quality / quantity of information from OXB of late, which I think has been very well received (and is reassuring for) small PI's like us.

Another possibility to add to the list of things holding us back at the moment, is that some analysts (like Numis) have openly doubted that OXB can do what they are forecasting.

There's only really one way out of that, which of course would be audited numbers to reflect the progress. But unless we move to quarterly reporting then we're not going to see any of those until H2.

Unfortunately that is what it is. There's always the possibility of news, which could easily be very big news about anything really, but if nothing else before we can certainly expect a good presentation at the end of April.

[steeplejack] 15/3/2024 14:00

You can currently buy 10/- at 191.5p which isn't a mind boggling sum of money but in the context of the pretty low daily volumes it shows that there's stock on offer.This recent fall back has caught me out.I thought OXB was on the up.Afterall,there's IM and Novo in OXB's proverbial corner.The company have updated in positive fashion.However,there is a systemic malaise in the UK market.Business commentators like Tom Stevenson might point out that UK equities are fundamentally good relative value but it seems to no avail.The long term corralling of institutional investment into bonds and away from equities which has been in no small part obliged by government regulation has now left UK equities in a near state of torpor.The disinterest is palpably and an extra 5/- British ISA allowance is a laughable response to what is a crisis for UK equities.

[dominiccummings] 15/3/2024 13:57

Thanks Cousin. Sounds sense to me.

[cousinit] 15/3/2024 13:48

I put a lot of it down to the general malaise in the UK markets. Those needing to sell something (anything!) at lower end of the market cap spectrum see a bit of natural liquidity and use it to shift stock. Also, there's far more restraint around liquidity. Managers of open ended funds are now very conservative on the liquidity level of the holdings (eg days to sell position/portfolio at 30% of average volumes)

Clearly there's a fair dose of scepticism thrown in to boot.

I'm not saying this is the case, but at times those watching the news flow carefully can join together information in such a way that the market doesn't seem to reflect and use that as an opportunity to take a chunkier position (ie a bigger picture development playing out but delivered piecemeal)

[dominiccummings] 15/3/2024 13:33

Well. This week's price action seems to have shut us all up?

A great report from the company, good coverage from RBC, and a rise all last week. Now sentiment and interest down this week.

What is happening? Do investors not believe the story? Is something more happening that we don't know about?

[pharmaboy3] 15/3/2024 08:56

On bloomberg now! :FDA sits today to discuss car t for first line treatment .Big story

[harry s truman] 14/3/2024 21:07

tbh Phil, I listened to that same thing a couple of times myself. He was very positive and of course we are getting on for six months later with that work too. It would be very nice to have something else in commercial supply soon.

[philh75] 14/3/2024 20:20

This bit stood out for me:

with the demand coming from our clients and programs that have been successful in phase one, then phase two and now today in phase three at process characterization or process validation stage.

So we have work in phase 3, which is good confirmation.

[harry s truman] 14/3/2024 20:05

That's a great link Phil. YouTube transcript here for anyone who can't see the video:-

Good afternoon everyone thanks for the opportunity to present today. I'm going to be presenting Oxford Biomedica where I am leading the commercial efforts including the sales team marketing and and strategy as well as corporate development. We have positioned ourselves as a quality and innovation CDMO specialized in viral gene therapy and it's really part of our strategy. A number of CDMOs have decided that they wanted to work in multiple modalities. We've made the opposite decision. We want to stay focused on only one thing - what we do best - manufacturing viral vectors and I will drive you through a a number of key facts and and data about the company in the next 10ish minutes.

As we're a listed company let me start with some forward looking statements that I'm going to pass quickly and introduce the company. So we've been operating in that space for more than 25 years. The company was actually created in 1995 and we are operating from the very beginning of the value chain with the gene of interest, the design of the vector, the optimization of the vector, through process and analytical development, clinical manufacturing and finally commercial manufacturing as well.

We are today running a process for a vector that is a commercial vector and approved in more than 40 countries, last time I checked the number it was 43 countries to be extremely accurate here, and although we've been known during many years as a company was working on lentiviruses we work on multiple viral vectors we do deliver lentiviruses but also AAVs, adenoviruses but also VSV, HSV and a number of other vectors the list is quite long.

Looking at the past 10 years where the the vast majority of the activity happened we've delivered shy of 400 successful GMP batches and looking at the number of projects on which we work today we're working on more than 40 active programs in parallel at different stages. Obviously process development, clinical manufacturing or commercial manufacturing.

If we're looking at the GCT space only we have one successful BLA submission (Novartis Kymriah) if we're looking at CGT and vaccine manufacturing since we manufactured the vaccine for AstraZeneca then we have two successful BLA submission and we have more than 30 successful IND submissions, again looking at the past at the past 10 years.

We're also known as a company that is operating primarily based on its technology platform. Well it's true and it's not true. Indeed we have developed our platforms on lentiviruses and AAVs but we're also taking a number of projects where our clients are coming to us with a vector and they want either optimization or directly process development or directly manufacturing.

We have a number of sites. We usually say we have two locations, which is true but we have more sites than two. We have four sites out of Oxford UK and one site in Bedford Massachusetts USA. In Oxford you see four sites here on the slide, the first one being our development, analytical development and process development centre Windrush Court, where we really have Labs that are amazing. I remember the first time when I when I visited what struck me was the level of Automation and indeed we know that what we do is extremely labour intensive, so investing in automation has been a a key theme in the company to make sure that we were increasing the throughput and I'll come back to that in one of the next slides when we touch on innovation.

We have three bioprocessing centres. As you see here on the slide most of of them are FDA and MHRA approved and when I say MHRA I should actually say MHRA and EMA approved. The biggest one being called OxBox where we have four GMP Suites and we have a plan to expand and bring online another 2 GMP suites as we're increasing our commercial manufacturing footprint with the demand coming from our clients and programs that have been successful in phase one, then phase two and now today in phase three at process characterization or process validation stage.

The site in Bedford is a site that we acquired about 18 months ago now where the technology that had been developed there was on AAV. As of now we're tech transferring lentiviruses into US and AAV into UK so that we can deliver all platforms from all the the geographies. So more to come on that and I have a slide later to cover the future expansions.

Talking about innovation many people look at innovation like breakthrough innovation. That's not the way we look at innovation. We're looking at innovation as any kind of activity that helps moving the needle. So it can be maximizing data integration and analyses, working with artificial intelligence, working with algorithm to make faster decisions, to improve the sequence of our vectors. It can be automation that I mentioned before it can be the vector themselves to target these vectors or optimize the level of expression minimize the RNA transcript that you don't want and maximize the RNA transcript that you do want.

It can be about improving the existing generation of AAV or Lentivectors that we have in house to make sure that we increase the productivity but not only that we increase the quality level of the products coming out of a of a standard GMP batch. We're working on optimizing the productivity not only through the
design of the vector but through the design of the process so we have a standard process that that we're using - suspension. We've optimized that process to run it in suspension and perfusion so that we can push up the productivity and the average increase in productivity when we move to perfusion is about four times more than the suspension non-perfusion process.

Last but not least where working on producer cell lines or packaging cell lines. Not all the clients have the same need, so we're trying to innovate through the entire portfolio of tools that we're proposing as part of our toolbox that we usually call the platform. The recent Innovation that we have delivered, I just mentioned, the suspension process, suspension perfusion, so I'm not going to come back on that. Just one point - increasing productivity, but I also mentioned it, increasing the quality as well - by increasing the purity of the vector that is produced.

We've launched our fourth generation of lentiviral vector that has an improved quality but also an increased potency and a higher capacity. We can increase the size of a gene of Interest by 1 KB in TetraVecta, that is the brand name we're using for that platform, versus the third generation.

We've very recently (installed?) high-titre packaging cell lines as well. We've scaled up AAV from 500 litre to 2,000 litre and we've also automated. I mention automation as part of the innovation, we've automated the RCL assay which we know is part of the bottle necks that the industry is facing right now.

I said it before we're delivering end to end. That's true for any platform that we manipulate. That's true for lenti for AAV but also for adenoviruses and when we say we deliver end to end Services we don't forget that there are key aspects of the project that we run. It's not only about technology it's also about making sure that the QA release can be done on time and quickly because we know that we need that material for patients. It's also about being supportive at every step of a project whether it's on the strategy very early or at the very end on the CMC support so that's what we mean by end to end services.

We do have plans to expand our capacity. It's been made public in the news about two weeks ago, we're currently buying two sites in France because we needed additional footprint in the process and analytical development space, but we also wanted to be closer from our clients in continental Europe. So we're adding two sites who have experience and expertise in vaccine manufacturing in the cell engine therapy space. Like Oxford Biomedica they've been operating since 1995, so quite a significant experience here.

They're bringing to our larger organization multiple platform experience including measles, MVA, vaccinia, I mean you name it the list is long here, suspension and adherent platforms here and they've been operating as a CDMO, so for us it was a natural where to expand our our footprint and bring more capabilities and capacity to our clients who actively demand for more.

So the new Oxford Biomedica network will have expanded capacity and capabilities and we want to make sure that we continue the investment especially at process characterization stage where we see a lot of demand these days. Especially to have access to slots quickly. Time is of the essence as we know in our in our industry, but it's also bringing to us complementary capabilities with, I believe, one of the most compelling offerings in the vector space and we're eager to welcome new colleagues and see how much we can cross fertilize between the existing sites.

I wanted to make sure I was saving time for questions and I think we have about four minutes if there are any questions in the audience thank you
no? if no question you can meet us during the rest of the event anywhere so
wish you a good week thank you.

[philh75] 14/3/2024 16:00

Seb in a talk back in October, good to hear his take on the Oxb story:

[harry s truman] 14/3/2024 00:09

I would guess that Mustang won't be one of our confidential clients FH.

My logic is that they had their own facility to make their vector (before selling that plant to someone else) so I would say their own lentivector but now made by someone else (Minaris or maybe Ubrigene).

[fhasson] 13/3/2024 22:25

https://www.fiercebiotech.com/research/mustang-bio-and-city-hope-car-t-therapy-glioblastoma-extends-survival-phase-1-trial

[jasierock] 13/3/2024 18:16

Well I've not even looked here since January and the first day I do I see we have been up near 220 but have dropped off again to less than 2 quid - see you again in 3 months. GLA

[dominiccummings] 13/3/2024 17:06

Wrong 'Oxford' - you are looking at Oxford Biodynamics, not OXB

[inaminute] 13/3/2024 17:01

Apologies, wrong Oxb!!

[inaminute] 13/3/2024 16:57

Primary Bid offer

[brucie5] 13/3/2024 16:42

Chartwise, nothing of great significance, though it has closed under £2.00. I see the share price still holding over both the 50 and 100 sma. No doubt these will be tested in the absence of any greater enthusiasm for the shares, in which case a fall to previous support of 1.70 is on the cards.
I think Harry said we can look forward to some further update in April?

[steeplejack] 13/3/2024 14:37

One’s going to have to be patient here.We balked at going through the year high at 220p.Harry’s summation is fair,the market is adopting a fairly simplistic attitude towards OXB,a post covid company with changed management and changed corporate orientation.The Times article was pretty insipid.I’m not quite sure why they wrote it.

I suspect there’s a proprietary book nicking a few pennies out of this on a daily basis….which is irritating!

[dominiccummings] 13/3/2024 13:52

Is there any logic at all in the buying/selling of this share? 3% up, then turnaround nearly 10% to 5% down, yesterday down, most of last week up. Odd sort of market.

[harry s truman] 13/3/2024 13:31

Easy for me to say, but you just need to wait.

OXB have never updated at this frequency and the news has been good every time.

The "company" problem is simply that most of the market had never heard of OXB pre-covid and now see them as a struggling covid stock. If you just looked at the last 2 years in isolation then there is something to that view.

The "economy" problem is something different.

OXB will resolve this in time. Might be big news which changes the game, but it might also need audited figures at the interims before some are convinced.

Short term it's going to be up and down and there's not a lot you can do other than remind yourself that they are winning work and have cash in the bank.