Business
Oxford BioMedica Interim Results
Oxford BioMedica Interim Results.
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \nRNS Number : 6193A Oxford Biomedica PLC 13 September 2018 \n\n \n \n \n \n \n \nOXFORD BIOMEDICA PLC\nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2018\n \nOxford, UK - 13 September 2018: Oxford BioMedica plc (\"Oxford BioMedica\" or \"the Group\") (LSE: OXB), a leading gene and cell therapy group, today announces interim results for the six months ended 30 June 2018.\n \nFINANCIAL HIGHLIGHTS\n- Gross income growth of 118% to £36.0 million (H1 2017: £15.7 million)\n- Operating EBITDA of £11.9 million compared to a loss of £2.1 million in H1 2017\n- Licence income of £18.3 million recognised (due to Axovant and Bioverativ deals), segmented by Product (£10.2 million) and Platform (£8.1 million)\n- Cash inflow, before financing activities, of £12.2 million compared to an outflow of £2.2 million in H1 2017\n- Cash at 30 June 2018 was £44.0 million (31 December 2017: £14.3 million), reflecting significantly improved trading performance and placing to raise £20.5 million (gross)\n- £3.0 million capital expenditure grant received from Innovate UK to support the UK's efforts to produce viral vectors and ensure adequate supply to service expected demand\n- Gross proceeds of £20.5 million raised from new and existing investors through a placing to fund the proposed expansion and fit-out of the additional bioprocessing facilities at a new facility in Oxford\n- Share consolidation completed to reduce the number of issued ordinary shares in the Oxford BioMedica by a factor of 50 whilst increasing the trading price of each Existing Ordinary Share proportionally\n \nOPERATIONAL HIGHLIGHTS (including post period-end events)\nNovartis' commercialised product Kymriah™\n- The collaboration with Novartis continues to progress well with Kymriah's approval by the Federal and Drug Administration (FDA) to treat adult patients with relapsed and refractory (r/r) B-cell diffuse large B-cell lymphoma (DLBCL), the second indication for this transformative and innovative therapy in the US\n- The European Commission (EC) and Health Canada also approved Novartis' Kymriah for the treatment of children and young adults with r/...