29th Apr 2024 10:42
(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Oxford BioMedica PLC, up 6.9% at 244.25 pence, 12-month range 164.29p-474.50p. The gene and cell-therapy company says it is seeing decent demand for its contract development and manufacturing organisation offering, as it moves away from the Covid-19 vaccine era. Oxford BioMedica's revenue in 2023 falls 36% to GBP89.5 million from GBP140.0 million and its pretax loss stretches to GBP188.5 million from GBP46.0 million. Hurting its bottom line is a GBP99.3 million impairment of assets booked in the US business, "driven by the cessation of revenues from Homology". Homology Medicines Inc is a genetic medicines company and client of Oxford Biomedica US. More promisingly, Oxford BioMedica reports a "small increase in core business" revenue. Chief Executive Officer Frank Mathias comments: "2023 was a year of transformation for Oxford Biomedica. We are building our position as a global pure-play cell and gene therapy CDMO and through our 'One OXB' strategy are unifying our operations in the UK, US and the EU, including our newly-acquired sites in France...Despite challenging market conditions, we continue to see strong demand for our CDMO services, further solidifying our position as a world-leading global CDMO in the rapidly expanding cell and gene therapy market."
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Digital 9 Infrastructure PLC, up 3.9% at 22.03 pence, 12-month range 14.50p-72.00p. The investor in internet infrastructure, such as data centres and subsea fibre receives a USD25 million deferred consideration payment in connection with its sale of Verne Global. Digital 9 plans an additional GBP47 million repayment and partial cancellation of its revolving credit facility.
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 31% at 15.46p, 12-month range 13.91p-87.50p. It warns a financial restructuring could see a chunk of its debt converted to equity, resulting in dilution of existing shareholders. The energy infrastructure company also flags an extra USD130 million charge in its engineering and construction division and said the release of full-year results would be delayed.
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By Eric Cunha, Alliance News news editor
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