Oxford Biomedica flags sharp rise in first-half revenue

(Sharecast News) - Oxford Biomedica reported a sharp rise in first-half revenue and strong commercial momentum on Monday, as it reiterated its full-year guidance and pointed to growing demand across its cell and gene therapy manufacturing platforms. Revenue for the six months ended 30 June were expected to come in between £70m and £73m, representing a year-on-year increase of 38% to 44% from £51m in the first half of 2024.

The London-listed company reaffirmed its full-year guidance for revenue of £160m to £170m, and continued to forecast low single-digit operating EBITDA profitability on a constant currency basis.

"With our multi-vector, multi-site model now fully in place, our strong operational and commercial progress continued in the first half of the year, reflecting both our execution capabilities and the growing trust in OXB as a leading cell and gene CDMO partner," said chief executive Dr Frank Mathias.

The company said it signed £149m in new client orders during the first half - more than double the £56m recorded in the same period last year - bringing the total revenue backlog to £222m.

Over £165m of the 2025 revenue target was already contracted, compared with £103m a year earlier, providing what the company described as "clear visibility" into the second half, when revenues are expected to be weighted.

OXB said it continued to see increasing demand for its lentiviral vector services, especially from clients preparing for late-stage and commercial launches.

The company also reported sustained growth in adeno-associated virus (AAV) programmes and said its global operations across the UK, the US and France were enabling efficient delivery for clients at all stages of development.

Operationally, Oxford Biomedica completed the acquisition of the remaining 10% of its US subsidiary, OXB US, from Q32 Bio in June.

It said it was also expanding manufacturing capacity in the UK and transferring AAV platform capabilities to its French sites, with GMP capabilities in France expected to be in place by the first half of 2026.

The company said it would publish its interim results on 23 September, and host a capital markets day on 15 October.

At 1141 BST, shares in Oxford Biomedica were up 5.61% at 404.5p.

Reporting by Josh White for Sharecast.com.