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Oxford Nanopore shares jump on guidance upgrade
(Sharecast News) - Shares in Oxford Nanopore Technologies jumped on Friday after the company revealed that annual revenue growth would be at the top end of forecasts.
In a short statement to the market, the company said that it was having to postpone its planned virtual investor seminar event on 14 November pending the appointment of a new chief executive.
Oxford Nanopore, which develops DNA and RNA sequencing technology, said its CEO succession process is "actively underway" following the resignation of co-founder Gordon Sanghera in August after two decades in the role. Sanghera is expected to officially step down as CEO at the end of next year.
However, the company still updated the market on expectations for the 2025 financial year, saying it now expects constant-currency revenue growth to be at the "top end of its previously stated guidance range of 20-23%".
All other financial metrics are tracking in line with expectations, the company said.
Shares were up 8.7% at 145.3p by 1203 GMT.
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