That was a surprise at 3pm!
Well everyone has covered my thoughts. I said before, investing in more Pizza ovens to satisfy demand is fine by me.
A briefing for analysts will be held at 9.30 a.m. GMT on 15 March 2018 at 85 Gresham Street, London, EC2V 7NQ. There will be a simultaneous live conference call with Q&A and the presentation will be available on the Group's website at www.oxfordbiomedica.co.uk. An audio replay file will be made available shortly afterwards.
Oxford BioMedica is the first and only commercial supplier of lentiviral vectors to the gene and cell therapy market. The Company estimates that the lentiviral vector bioprocessing market was worth approximately $200 million in 2017 and is expected to grow at a 15.4 per cent. compound annual growth rate from $158 million in 2015 to $800 million by 2026. These estimates exclude milestones and royalties from partnerships which may be earned by companies operating in this space.
The Company expects OXB-102 (Parkinson's disease) to advance into clinical development in H1 2018. The Board expects to spin out / out-license at least one of the Group's in-house product candidates before the end of 2018.
Oxford BioMedica believes it can grow its market share of the bioprocessing market to between 25 per cent. and 30 per cent. with new facilities to be funded from the proceeds of the Placing.
The Company has a short list of potential sites identified as potential suitable premises for its bioprocessing expansion plans. The lead facility is in Oxford and close to the Company's existing headquarters and the Company has been negotiating a potential long lease for the premises which is around 84,000 sq. ft (7,800 sq. mts) and is currently vacant. The Company has been working with a third party consultant to advise on facility layout and anticipated costs of fit out with phase I and II of the plans contemplating that 45,000 sq.ft (4,200 sq. mts) are converted into four GMP suites, a fill and finish facility and warehouse and office space with additional space available for further future expansion as required. The Company believes that this expansion plan will be sufficient for its biomanufacturing requirements for the foreseeable future. The Company estimates that the costs of conversion, fit out and finishing of phase I and II will be GBP19.0 million split as to GBP14.0 million on 4 GMP vector suites, GBP3.0 million on fill and finish suites and GBP2.0 million on the warehouse and administrative offices. The Company expects to incur these development costs between Q2 2018 and H1 2021, with the first phase of expansion expected to come on stream in Q3 2019.
Gross income (revenue and other operating income) was GBP39.4 million
Cash balances as at 31 December 2017 were GBP14.3 million compared to GBP15.3 million at 31 December 2016.
discussions with several large pharmaceutical companies about potential collaboration and licence agreements are ongoing. The Company is also in discussions with additional companies around feasibility studies, which provides the Company with a large pipeline of opportunities.
Positive imo and at a small discount. I reckon this will be a very busy year.
