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Oxford BioMedica (OXB): De-leveraging the balan...
Oxford BioMedica (OXB): De-leveraging the balan....
About this update from Oxford Biomedica Plc
[{"type":"text","content":"\n \nHardman & Co ResearchHardman & Co Research: Oxford BioMedica (OXB): De-leveraging the balance sheet18-Jun-2019 / 07:15 GMT/BST\nHardman & Co Research: De-leveraging the balance sheet\n\nOxford BioMedica (OXB) is a specialist, advanced therapy, viral-vector biopharma company. It offers vector manufacturing and development services, while developing proprietary drug candidates, with its LentiVector(R) platform. 2018 saw significant growth in gross income, primarily through licensing deals, to deliver OXB's first underlying operating profit. OXB is, however, carrying a significant loan of $55m, which is relatively expensive with an interest rate of 9% plus US LIBOR, and also exposes it to forex risk. Equity financing of £53.5m from Novo Holdings A/S has been agreed, allowing repayment of the loan and securing a strategic partner. Please click here for the full report:\n\nhttps://www.hardmanandco.com/research/corporate-research/de-leveraging-the-balance-sheet/\n\nTo contact us:Hardman & Co35 New Broad StreetLondonEC2M 1NHwww.hardmanandco.comFollow us on Twitter @HardmanandCo\n Contacts:Mike Foster+44 20 20 7451 7050\n [email protected]\n \n \n\nHardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement.\n\nAbout Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the UK and abroad with outstanding research, investor engagement programmes and advisory services. Some of our notes have been commissioned by the company which is the subject of the note; this is clearly stated in the disclaimer where this is the case.\n\nHardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259.\n\nOur research is provided for the use of the professional investment community, market counterparties and sophisticated and hig...