4th Jun 2025 11:16
(Alliance News) - Biotech Growth Trust PLC on Wednesday said its net asset value declined during its most recent financial year, as market volatility weighs on investor appetite.
The biotechnology-focused investor said net asset value per share at March 31 was 815.9 pence, down 24% from 1,078.9p a year before.
NAV total return for the year that ended March 31 was negative 24%, compared to a negative 6.0% return on its benchmark index, the Nasdaq Biotechnology Index. Biotech Growth had delivered a positive 27% return the year before, while its benchmark had a positive 5.0% return.
The trust swung to a pretax loss of GBP82.5 million during the year, from a GBP74.8 million profit the year before.
"The biotech sector continues to be a dynamic and rapidly evolving space, with developments in science and technology translating into groundbreaking clinical advancements and innovations which are reshaping the future of healthcare. The sector presents compelling investment opportunities, reinforcing our confidence in its long-term growth potential," said Chair Roger Yates.
"In the short term, macroeconomic and geopolitical uncertainties, including trade tensions, regulatory developments, and general market volatility, will present challenges. In addition, these broader economic conditions may adversely influence investors’ risk appetites. Despite these risks, we remain optimistic about the sector’s ability to generate long-term value through scientific and technological breakthroughs."
Shares in Biotech Growth Trust were up 1.9% at 750.00 pence each in London on Wednesday morning. The stock is down 21% over the past year.
By Emily Parsons, Alliance News reporter
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