Hardman & Co Research Hardman & Co Research: Oxford BioMedica (OXB): De-leveraging the balance sheet 18-Jun-2019 / 07:15 GMT/BST *Hardman & Co Research: De-leveraging the balance sheet* Oxford 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 GBP53.5m 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: https://www.hardmanandco.com/research/corporate-research/de-leveraging-the-bal ance-sheet/ [1] +-------------------------+----------------+-------------------+ |*To contact us:* |*Contacts:* | | | | |mf@hardmanandco.com| |Hardman & Co |Mike Foster | | |35 New Broad Street | | | |London |+44 20 20 7451 | | |EC2M 1NH |7050 | | |www.hardmanandco.com | | | |*Follow us on Twitter* | | | |@HardmanandCo | | | +-------------------------+----------------+-------------------+ *Hardman & Co Research can still be accessed for free after MiFID II. Please *click here [2] *to read the statement.* *About 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. Hardman 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. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. End of Announcement - EQS News Service 825987 18-Jun-2019 1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=f7f5d1057e2fb76ec9378ff2a6499a63&application_id=825987&site_id=vwd&application_name=news 2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=5a632f52f80bd372265e4041a743aa1c&application_id=825987&site_id=vwd&application_name=news
(END) Dow Jones Newswires
June 18, 2019 02:15 ET (06:15 GMT)
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