11th Nov 2021 14:30
Syncona Ltd - FTSE 250-listed London-based investment trust focused on healthcare - Net asset value per share ends September 30 at 171.7 pence, down 11% from 193.8p at the end of March. Drop is blamed, predominantly, on the decline in share prices of two of its listed holdings, Freeline Therapeutics Holdings PLC and Achilles Therapeutics PLC.
Life Sciences portfolio ends financial half-year at GBP666.6 million, down from GBP722.1 million at end of March. Capital pool investments rises to GBP567.5 million from GBP417.2 million.
Chief Executive Martin Murphy says: "Syncona has always taken a hands-on, partnership approach to supporting our companies as they progress towards key clinical, financial and operational milestones. This has been particularly important in recent months when our portfolio companies have needed to take decisive actions to address issues and adapt to specific challenges, some of which are inherent in clinical development.
"Whilst we are disappointed by the decline in NAV during the period, we are continuing to build a diverse portfolio across the development cycle and therapeutic areas and remain confident in our companies' potential. The substantial capital that a number of our companies have accessed so far this year validate the significant opportunity ahead for them," Murphy adds.
Current stock price: 203.25 pence, down 1.1% on Thursday
Year-to-date change: down 22%
By Paul McGowan; [email protected]
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