23rd Sep 2025 10:48
(Alliance News) - Oxford BioMedica PLC on Tuesday hailed its "strong revenue pipeline" and growth visibility, as it kept its financial outlook for the full-year unaltered.
The Oxford, England-based gene and cell therapy developer reported a pretax loss of GBP26.0 million for the six months to the end of June, narrowing from GBP35.7 million a year prior.
Driving the improved loss was a 44% top line gain, as revenue grew to GBP73.2 million from GBP50.8 million.
The company said revenue from manufacturing services increased by 25% to GBP34.4 million from GBP27.6 million, owing to an increase in the number of batches manufactured for clinical clients, and in preparation for commercial launch.
Development services revenue advanced 48% to GBP28.5 million from GBP19.3 million, as client products progressed their clinical development, noted Oxford BioMedica.
Procurement and storage services realised revenue of GBP8.6 million, up from nothing. "This revenue line, recognised as point in time, represents additional procurement and storage services, representing OXB's readiness to provide clients stability of supply and the maturity of the group in its capacity as a CDMO," said the company.
While operating costs improved 10% to GBP30.3 million from GBP33.9 million, these gains were more than offset by an increase in administration expenses. These rose 43% to GBP20.6 million from GBP14.4 million.
Shares in the company fell 8.1% to 578.98 pence on Tuesday morning in London.
Looking ahead, Oxford BioMedica said financial guidance and capex expectations for 2025 are unchanged.
Revenue is expected between GBP160 million and GBP170 million on a constant currency basis. This figure came in at GBP128.8 million for 2024.
Oxford BioMedica also expects earnings before interest, tax, depreciation and amortisation profitability in the low single digit millions on a constant currency basis. It reported an operating Ebitda loss of GBP15.3 million in 2024.
Chief Executive Officer Frank Mathias said: "The first half of 2025 has been a period of strong delivery for OXB, driven by sustained high demand for our CDMO services across all vector types.
"With our order book more than doubling year-on-year and a strong revenue pipeline, we have good visibility on our growth trajectory and confidence in delivering our near and medium-term financial guidance."
By Christopher Ward, Alliance News reporter
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