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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Oxford Biomedica Plc | LSE:OXB | London | Ordinary Share | GB00BDFBVT43 | ORD 50P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.50 | -0.16% | 306.50 | 32,231 | 11:46:58 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 306.00 | 309.50 | 310.00 | 306.50 | 310.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Medicinal Chems,botanicl Pds | 128.8M | -48.61M | -0.4582 | -6.73 | 325.71M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 11:45:19 | AT | 13 | 306.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 23/6/2025 | 11:56 | ALNC |  Oxford BioMedica completes purchase of last 10% stake in US subsidiary |
| 23/6/2025 | 07:19 | ALNC | *Oxford BioMedica acquires final 10% stake in US subsidiary OXB US from Q32.. |
| 23/6/2025 | 07:00 | UK RNS | Oxford Biomedica PLC OXB completes acquisition of US subsidiary |
| 17/6/2025 | 18:00 | UK RNS | Oxford Biomedica PLC Director/PDMR Shareholding |
| 11/6/2025 | 18:02 | UK RNS | Oxford Biomedica PLC Result of Annual General Meeting |
| 11/6/2025 | 10:55 | ALNC | Oxford BioMedica touts strong first-half momentum ahead of meeting |
| 11/6/2025 | 07:02 | UK RNS | Oxford Biomedica PLC AGM Update |
| 10/6/2025 | 10:49 | UK RNS | Oxford Biomedica PLC Holding(s) in Company |
| 05/6/2025 | 07:00 | UK RNS | Oxford Biomedica PLC Block Listing Application |
| 03/6/2025 | 07:00 | UK RNS | Oxford Biomedica PLC OXB Launches Advisory Board |
Oxford Biomedica (OXB) Share Charts1 Year Oxford Biomedica Chart |
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1 Month Oxford Biomedica Chart |
Intraday Oxford Biomedica Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 24/6/2025 | 10:39 | OXB. One owner, FSH Excellent conditionwith ejector seat | 11,154 |
| 11/6/2025 | 21:30 | Where we going | 968 |
| 13/2/2024 | 12:39 | Oxford Biomedica | 2,118 |
| 14/9/2023 | 10:29 | Open-minded posters thread | 576 |
| 26/4/2023 | 15:56 | OXB - sense and sensibility | 479 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 10:45:19 | 306.50 | 13 | 39.85 | AT |
| 10:34:35 | 308.00 | 1,225 | 3,773.00 | O |
| 10:29:41 | 307.06 | 195 | 598.76 | O |
| 10:10:27 | 308.50 | 5 | 15.43 | AT |
| 10:10:15 | 308.00 | 232 | 714.56 | AT |
| Top Posts |
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Posted at 24/6/2025 09:20 by Oxford Biomedica Daily Update Oxford Biomedica Plc is listed in the Medicinal Chems,botanicl Pds sector of the London Stock Exchange with ticker OXB. The last closing price for Oxford Biomedica was 307p.Oxford Biomedica currently has 106,093,858 shares in issue. The market capitalisation of Oxford Biomedica is £325,708,144. Oxford Biomedica has a price to earnings ratio (PE ratio) of -6.70. This morning OXB shares opened at 310p |
Posted at 23/6/2025 09:49 by harry s truman I'm quite pleased with that, simply because they previously said that they had exercised the option on the 1st of March and would compete in H1. A target actually hit (5 trading days to spare in fact) with no slippage beyond our control for once is a good day for me.I'm sure it ended up costing more than the £2.4m spot calculation in the annual report (if only in lawyer's fees) but that's always the case. My spider senses have for a while now told me that "something" will happen at Boston once it became fully OXB. Hopefully I don't need to explain that one too deeply but the Oxford nest of sites is pretty close to capacity (they tell us), yet OXB seem to be in no rush to fit out the last phase of OxBox (sometimes referred to as the fallow part). Boston has had money (quite big money) spent on it by us and of course it's a very big building which needs to be paying for itself (and paying back what we have sunk into it). There is a 2,000 litre capacity at Boston which we don't have in the UK. The (now stored) covid vaccine bioreactors in the UK are 1,000 litre, but it's not just that - I believe the suites in completed OxBox phases so far are 1,000 litre max (remember gene therapy requirement quantities - especially for trials - are much smaller, so there was never really envisioned a need for such volumes). Last I can remember hearing (from Stuart I think, so a while ago now) was that the last phase of OxBox would change from being 4 suites with a 1,000 litre max capacity to 3 with a 2,000 litre max capacity. Of course none of those have been built yet within the building shell of the last phase and we haven't bought a 2,000 litre bioreactor either. Those with long service badges for OXB spotting will remember that the Serum deal is worded (pre-France, pre-USA) in a way that it allows them access to our biggest bioreactor until we have 2,000 litre capacity and then exclusive right of first refusal to that for 10 years subject to a minimum work commitment. To my mind here (and this is just a Cluedo envelope of the day before the constructive criticism A-Team scrambles) would be to propose:- Serum have a deal which essentially cost them a lot of money to bagsy a 2,000 litre bioreactor when OXB had one available. OXB have hardly rushed to make that available - for reasons not clear. OXB USA has a 2,000 litre bioreactor and has received much enabling / development cash from OXB main. Serum would get a WHO separate territory in the USA if this was for malaria, but - recent development in an ever changing world - if they wanted to use it for something else to dodge tariffs? Had something like this happened last year then Q32/Homology would have had a claim on a share of it. As from today, 100% OXB. Just a thought. |
Posted at 19/6/2025 16:25 by xoptimist I cannot see any circumstances in which some board members would have access to price sensitive information and others not and all directors except frank and lucy are non-execs. So we are definitely currently in an open period as Roch made clear at the AGM and most likely as marwalker suggests heather for whatever reason was selected to send the message after the pressure exerted by dom, northstand et al on this issue. The company rightly decided it was important to finally bring the rumours and speculation to an end and have done it to my mind in an elegant way.I am hoping that we can now get back to discussing fundamentals and I think interesting posts from both jonny and phil. A critical point is that the market thinks we have an ebitda problem. I strongly agree that this is definitely weighing on investor sentiment but i think it is wholly the result of 3 messaging mistakes by the company: 1. Mistake number one: last april stuart told us we would be “more or less” ebitda break even in 2024. We ended up negative £15.3m. At no time has the company taken this bull by the horns and explained in any detail what happened in 2024 - why things went awry - perhaps it was poor forecasting by stuart; perhaps it was a good reason and we had some extra costs on payroll for future growth; perhaps we had some unexpected spending - but without the company explaining this as a one off - not to be repeated in 2025 - the analysts like Panmure and Stifel have decided for the moment to conservatively treat it as a pattern and have marked down ebitda for both 2025 and 2026. 2. Mistake Number 2: not releasing quarterly reports. We know the second half of 2024 was ebitda positive but were both quarters? If they were, then it is highly likely Q1 of 2025 was also positive. And if so -and if oxb got its head around how quarterly reporting can stabilise the share price - then we might have been able to see a pattern of exponentially growing ebitda quarter to quarter to quarter for the past 3 quarters with the current quarter possibly the fourth quarter in a row. Similar thoughts on quarterly reporting on revenue. Most likely there is a pattern of really positive quarter on prior period quarter growth - and what is almost certainly already a sustainable pattern of forwards momentum. Meaning that the pattern might actually be so much better than the market thinks but OXB management stubbornly refuse to release quarter by quarter results and if the above is true (which i strongly believe it is) then such a decision is helping depress the share price until we get the next trading update which hopefully will be way before the interim date of second week of august. 3. Mistake number 3: Lucy’s refinement on 20% ebitda in 2026 to by the end of 2026 - is a big change in guidance. It means oxb might not run 20% ebitda margin until December 2026 - and 2026 ebitda could be anything - especially as oxb currently is unwilling to update the forward guidance and the market (including all of us) have no steer from the company on either revenue or ebitda beyond the next 18 months. This should also have been very delicately and positively explained in detail and also equally importantly spun. All of the above are very easy for OXB to address and I suspect the picture is better than the market and the analysts think. This is an act of omission not commission by the company - but if the above reasoning and thinking around the numbers is right then OXB is partly responsible for the negative sentiment by poor messaging and an unwillingness to do everything they can to defend the share price by better reporting and messaging. This we will definitely know in the coming weeks and hopefully days. |
Posted at 10/6/2025 15:22 by xoptimist HarryCoincidentally that is when I first dipped my toe into the water buying a small OXB starter position at 302p on September 8th 2023 - a price not too far away from where we are today 7 quarters later. To me, at the time in 2023, it felt like a very different company. We were facing a terrible set of annual 2023 results with revenues down 30% and massive operating losses; the IM deal was in play but not guaranteed to close; the homology debacle was weighing on sentiment; the CDMO turnaround strategy could not yet be described as successful and the share price had been nosediving for almost 2 years since its peak of 1560p in September 2021. And, very quickly after my first buy at 302p, the share price continued tumbling another 45% until it hit 168p two months later on December 1st 2023. The risk of buying OXB in the summer/autumn 2023 was so much higher than it is today with OXB now clearly a growth company and almost half way through what will be a bumper year for revenues of $165-175m; much greater transparency on the order book, backlog and pipeline - and the forward guidance; a return to profitability and as OXB continues to consolidate its superior position for excellence and customer delivery in an expanding global market. That I can sadly say that the share price today is only 10 per cent higher than my first purchase of shares 21 months ago - and after 7 quarters where the OXB story has got stronger and stronger - I think just emphasizes my point about how undervalued we are and how poorly the company does in IR and soliciting investor interest. And if the art of investment is the balance between upside and downside risk then Briarwood buying in today at somewhere around 330-360p per share - with all of the de-risking that has been done over the past 7 quarters - is a smarter bet than was my bet in September 2023. So yes I do think Briarwood has been extremely clever in terms of opportunity, timing and execution. And their confidence helps mitigate my own frustration at where the share price is today compared to where it should be. |
Posted at 10/6/2025 14:07 by xoptimist You have really got to hand it to Briarwood for perfect timing and execution. They have managed to buy 10.1m shares so far this year (2025) on the open market without making any significant positive impact on the share price. And with the share price today still down 19.2% YTD.And if the reporting is right they bought more than 3m shares in a 10 day trading period between March 21st-April 3rd during which the share price actually fell more than 10% from 304p to 271p. This tells us I think 3 important things: 1. Briarwood are extremely savvy opportunistic investors and traders and continue to have huge confidence in their investment thesis in OXB. By now they are a part of the Big 4 inner circle and are being regularly briefed with confidential insider information by Frank and Lucy. So this latest continued buying is a strong positive signal from one of the Big 4 which is not constrained from purchasing shares by any closed period. The fact that they haven't yet claimed a board directorship yet suggests they wish to continue to have the freedom to continue buying in the market and building their position. 2. As Dominic wisely pointed out in his post of yesterday the Fund managers who have been selling have let their clients down - rushing for the exit in a disorderly way and selling with little regard to maximizing value for their investors. We cant be sure whether the selling is done yet - there may be still a couple more million shares being offloaded by our fair weather friends - but it is a good bet that Briarwood will continue to mop up these shares building their position into the high teens and why wouldn't they given their strong conviction in this trade and given that they can still buy shares at a price of 2.1x 2025 sales and 1.6x 2026 sales. 3. Sadly for us it is fairly certain that Briarwood has been the only institutional buyer this year. Nice as it is to see OXB's forthcoming participation in a global CGT/CDMO roadshow - the company is still doing so much better at winning clients, making sales and building pipeline than in the critical task of exciting/seducing/at |
Posted at 06/6/2025 09:20 by xoptimist If there is going to be a bid by private equity it will be in the next two months. Sooner rather than later.The heavy selling and rapid 50% collapse of our share price in the two month period this year from 28th January to 9th April (with the share price down from 444p to 232.50p at its lowest) created the scent of blood in the water and will have attracted the PE sharks to circle. OXB's annual results presentation on April 9th coincided with the low point of the share price; halted the collapse and created clear evidence of how deeply undervalued OXB is and how strong was the growth path ahead - the perfect combo for the PE sharks of a low valuation and big growth story which was not being recognized or priced in by the market. And therefore a time limited opportunity for private equity to make a cheeky offer and take the company private with a plan for an onward sale to big pharma in 2-3 years time at 4-5x what they might be able to pay today. And our slow grind in the share price since April 9th amidst continued heavy selling would have created the time for PE Funds to do their sums and due diligence and sharpen their pencils. But thankfully time is running out now to make the low ball bid that PE would want to make of 500-600p. The window is closing. The selling is clearly drying up and the share price rising a little less slugishly. The short sellers with 1.2m shares must be starting to worry and think about closing or trimming their positions. And if things go as expected and as Frank and the numbers clearly indicated in the April update we will get very good figures at the time of the interims in early to mid August. At that time we will have confirmation of a bumper 2025 and clear visibility into what I think will be a thumping 2026. The share price should be definitely back above 400p and hopefully above 500p and then we will be finally heading back into the FTSE250 in Q4 - ruling out any opportunity for PE and returning the opportunity to Big Pharma who are the only ones who can pay the kind of hefty multiples most OXB long term shareholders want to see and who can take a long term and strategic industry and synergy/consolidatio Like others on this site it remains my preference and my hope that we are going to follow the market re-rating approach and - much as our analysts consensus suggests - see 550-600p this year and 800-850p next year. The thing that worries me about any bid by PE or Big Pharma is that we smaller retail shareholders wont have any role in decision making as the decision will be made between Frank and the big 4. So my hope is that the recent upwards momentum continues (and it looks like it is underway again this morning); the selling dries up; Briarwood keeps buying and is joined by at least one other quality institutional buyer and we quickly get back to where we were in January with the prospect of good news in August and a more sane valuation which keeps the sharks at bay. Fingers crossed. |
Posted at 27/5/2025 10:37 by xoptimist Hey Harry - and once again I wonder whether everybody isn’t right in some way.As you know I do not believe there is currently a Novo bid in the wings. But as you suggest in your latest post I do think the most likely bidder today is private equity and any bid from a PE fund is likely to be around the 600p level. I think we are also agreed that such a bid is highly unlikely to pass muster amongst the key six shareholders who control 50% of the company. The only possible shareholder who may be tempted at 600p is Briarwood who have spent about $50m acquiring their 12 per cent stake. The prospect of making a quick turn, almost doubling their money and a bird in the hand being worth two in the bush may make such a bid attractive. But ultimately without at least one other of the big 4 shareholders with them – which is extremely unlikely – they will have no choice but to sit it out for a bigger return. One thing is for sure we wont hear about such bids – as they will be killed still born by Frank having chats with the big 4 - and it wouldn’t surprise any of us if there had been opportunistic bids during the collapse of the share price over the last 5 months. Unless there is a very hungry PE fund that could pay above the odds at 800p then the message being sent by the big OXB shareholders is that OXB is not available to PE valuation expectations. So that just leaves a big pharma bid or a market re-rate. So whilst I don’t believe any big pharma bid is currently in play I think Phil will most likely one day turn out to be right. Although it seems inconceivable to me that anyone would this year be willing to pay Phil’s “conservative& Like you I hope so much that Phil is right and Novo or some other pharma company is so enamored by OXB’s prospects that they are willing to pay a huge multiple for it. Fingers crossed. In the meantime I think we must base our investment case on a market re-rate and this then becomes a judgement call on what we think the value should be of our company in the current equity marketplace. I think Phil did an eloquent job of highlighting the differences we have in this group over valuation. Based on market re-rating as OXB progresses I do think the analysts - some of whom I have chatted with and some of whom are CDMO specialists covering multiple CDMOs – have a fair sense (by no means perfect) of peer comparables and as Stifel made clear there is an industry valuation discount for companies like OXB which are not currently profitable. I share the consensual view of our analysts currently about what would be the correct value this year – around £6.00 per share – which would be a 3.85 multiple of 2025 sales. I did think we would be much closer to that – certainly over £5.00 per share – in the wake of the annual results last month. But if we get to £6.00 by Q4 this year I will still be pleased. For next year I would expect £8.00-8.50 per share which would be a 4.3 multiple of 2026 sales – the higher multiple to sales justified on the back of increasing confidence around sustainable profitability. I think the above – which suggests a 160% increase in the share price in the next 18 months - is realistic but should be seen as on the bullish end of the scale and if achieved will certainly be pleasing to me. These I think are well managed – albeit optimistic – expectations/assumpt Once again no bad scenario currently on the horizon. |
Posted at 26/5/2025 09:45 by harry s truman gh,Maybe cue the Hovis tune would be more fitting, but for anybody who has been here long term, then current OXB is a walk in the park. All the old hands will remember our cash windows and big hopes that some deal / announcement would always come before JD had to go to the market and either try to place more shares or borrow more money - either way with us always over a barrel. That problem has been history for quite a while now and today the question is simply one of how good it can realistically get before someone else wants OXB more than we do. We don't develop our own drugs anymore and so that chance of the Hail Mary moment for any biotech - discover / prove in trials / get approved / sell - just won't happen, but if we are honest that is literally 100s to 1 against anyway from early stage promise. We have a very good owned and in-house developed lentiviral vector system. Arguably the best in the world and certainly the first approved. We have bought in other vectors / capacity and improved both. Admittedly with Homology that plan could have gone better, but the problem is also history now and in a month or less the Boston plant is 100% ours. OXB make money this year and in the next few years that gearing / economy of scale will make them a very profitable CDMO and likely the only profitable one which is 100% cell and gene therapy focussed. What will happen next? Well either OXB goes on to become that very successful specialist CDMO (my personal preference) or someone else wants it more than our major shareholders and is prepared to pay wat they ask (out of my control). Quite a few similar companies have been snapped up now (examples previously given) and OXB is the obvious target for anyone with desires on a piece of this industry whilst there are still players like OXB available. SJ has written many times words to the effect that the market is clinical (ruthless?) and won't over pay - so we'll simply get the least any bidder can get away with. Phil has put forward the other case with some justification of why a bidder might be prepared to pay much more. I can honestly see both arguments and whilst I hope for some of Phil's top end possibilities I also accept that if an offer comes from some wheeling / dealing private equity type house at a time when one or more of our major holders might need the money (we have to admit that the post-covid economy has become the disaster which was predicted by many at the time - re shutting down / locking down / printing money) then we will get what we get - but that needs much more than one of our major holders to reluctantly agree. I can't do anything about any of this and "if" it comes soon then it just comes. I think I've been pretty clear in recent years that my personal target is simply to see OXB back in the FT250 as I believe them to be a 250 company. Next review / reshuffle date is Wednesday night and there is basically no chance of that now - meaning my next focus will soon become the end of August review. Regarding the possible scenarios for the end of OXB as we know it, then I think if our eventual buyer is Novo Holdings to make OXB part of Catalent, then their structure (no shareholders, etc.) would allow them to make a more generous offer to win support and close it all out very quickly in a friendly way. For a city business looking to simply become a middle man as OXB turns profitable, sit on it for a few years and then either sell it on to a big pharma or re-float it in true PE style as the next greatest thing, well, the price would be as low as they could get away with - but I think maybe the boat has sailed with that one as of course we all see the projections. Who would sell cheaply now after decades of holding and hoping, when the near term story suddenly looks very good? If you think about it then 6 holders - Novo Holdings (Copenhagen) Institut Mérieux SA (Lyon) Briarwood Chase Management LLC Vulpes Investment Management (Singapore) M&G Investments (London) Serum Life Sciences Ltd (UK) - now own over 50% between them. If all 6 stick together and say no thanks, then it's simply impossible to make any bid unconditional. Even if one of them folds it still needs everybody else in the remaining 49% (people like us included) to all roll over. In that 49% there are people like Mr Shah who has owned 3% (now diluted down to 2.5%) for as long as I have held shares. Are the likes of him going to sell cheaply? If there is a closed period in OXB which has been going on for c18 months now (and let's be honest, we don't know for sure) then that likely relates to something which completely changes the game. If that breaks soon then all bets are off anyway. |
Posted at 07/5/2025 16:09 by seanje The OXB share price is severely testing my patience. We have had our full year results, the company presentation and every opportunity for trumpets to be blown and rabbits in hats if not pulled at least to be alluded to. My concern is it will be another five months before we are assured of getting some figures and given current form there is no guarantee it won't just be a regurgitation of what we have already been told even then. In the current market climate the good news needs to be screamed from rooftops and expectations raised. Instead we seem to have a company that gives the impression of having nothing to shout about and no story to be told. |
Posted at 05/5/2025 10:29 by xoptimist Thanks Harry and Phil.There is nothing contentious here and as you both know I love the strength of your convictions. And if £10 is “ludicrously cheap” and a takeover bid of £14-18 comes along in the next few months then everyone here in this community will be ecstatic except one or two people who seem to show up occasionally to promote the sell side. I will be one of the most ecstatic as I have allowed myself to get more overweight in OXB than I had planned - and this does worry me some nights. Despite the passion of your positions you have both graciously acknowledged that takeover bid talk is all speculation. Intelligent speculation but speculation never the less. Absent of any facts. One of the most important lessons of life I try to live by is to manage my own expectations. In all things – relationships, parenting, business, going to the theatre and English weather forecasts. And when investing in the markets to do my best not to fall into a trap I have been in more times than I care to mention – talking up my own book and doubling down on my speculative thinking and convictions. As you know – and as I have written a few times previously - my base case remains that OXB will over the next 18 months re-rate. First this year through readmission to the FTSE250 to 500-600p; and then next year to 700-850p. At 850p per share that would be 4x sales of £225m in 2026. That seems like a fairly reasonable, albeit bullish, investment thesis given the good fundamentals and growth that OXB is now consistently producing. If this happens then OXB will deliver stellar returns – returns that I wish I could replicate throughout my portfolio. And if this comes to pass I shall be opportunistically trimming from time to time and taking profits along the way – and leaving enough on the table in the hope that the big bid comes along. Not repeating mistakes that I have made before in other companies – and some OXB shareholders made a few years ago – of just holding in the hope of an ever increasing share price and blue sky ahead. So, in a fundamental sense – unless you are Serum with a share price above £14 – it doesn’t matter who is right or wrong here because there is no bad case scenario for most of us no matter how often the short side try to argue otherwise. Also, importantly, as the journalists are fond of concluding: “time will tell”. Although as the months slip by since the Catalent deal got final approvals in the US last year, the educated bet that Novo has a long held bid for OXB in play as one critical part of building out a global CDMO company - surely gets weaker. However, if you live long enough you see it all. And no doubt at some time a bid will come for OXB. Perhaps from Novo or BMS or A.N. Other. In the meantime I don’t think anyone should find it ludicrous or objectionable to base the investment case in OXB on a fairly robust view that if the company continues to hit its strong growth trajectory, as seems very likely, the share price will definitely double and may triple over the next 18-24 months. So if there are legitimate differences of expectations here it is between very bullish to ultra bullish. Not bad really….. |
Posted at 04/5/2025 19:35 by xoptimist Yes the beautiful thing about OXB now is that as shares consolidate into 4 top shareholders currently with about 44% of the company - all of these plus several others with perhaps the exception of Briarwood - are going to want to see a price at least above 1000p and maybe as has been suggested here above 1400p.In the event of a takeover bid not made by Novo - Novo and IM will be very reluctant sellers both having strategically invested on the thesis of a long term patient industry play in OXB. Novo has a much higher average share price than IM (who are probably averaged in the mid low to mid 300s) - but both parties aren't looking for a turn. And if the Novo deal was in play back in 2023 (the last time directors bought shares) when the IM was being baked - its hard to believe IM would have gone ahead knowing that they would be very short term shareholders. And they would have had to have been told in DD by Frank and Co. Vulpes is probably going to be the toughest on acqusition price having been invested in OXB for a very long time (at least 13-14 years?) and I have no idea of their average share price but surely must be north of 500p. Our Chairman is also thankfully underwater having bought his last quarter million shares in 2022 and 2023 at an average price of 647p. It is only Briarwood - very cleverly probably also in with an average share price in the low to mid 300s - who may be more willing for a cheeky 2x or 3x quick turn. But they are clearly in a minority no matter how much they continue to build their stake which hopefully they continue to do. So the odds are stacked strongly for a bid having to start no lower than 10 pounds and possibly a good deal higher. Novo are the obvious candidate but hopefully there are others waiting in the wings. BMS, a long term OXB partner, are back on the acquisition trail having recently announced they are buying 2seventy bio - their partner in the T cell immunology multiple myeloma treatment called Abecma. They are paying $286m for it which was an 88% premium to market price. 2seventybio remains one of the possible candidates to be the OXB's new commercial client in a deal announced in last year's March 20th RNS with "a new undisclosed US-based biotechnology company....for the commercial launch of its CAR-T programme targeting multiple myeloma". J&J are also a candidate although difficult to see their multiple myeloma partner Janssen (wholly owed by J&J) fitting the RNS description as well as 2seventy bio. Like many other Big Pharma firms BMS needs to acquire new assets and strengthen its pipeline for sustainable long term growth. If the stars are aligning for Novo buying OXB now that Catalent is baked - perhaps they are also aligning for BMS to buy OXB now that the 2seventy bio deal is nearing completion this quarter. Wouldn't that be lovely for us if there was a competitive battle for OXB by two giants? All of this seems quite a long way away from what for now seems to be an inability to break free from being annoyingly range bound 280-310p. But things can happen very quickly. Or not. Patience, and sleuthing, remain annoying necessities of owning OXB shares. |
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