LONDON (dpa-AFX) - Oxford Biomedica plc (OXB.L), a gene and cell therapy group, Tuesday reported that its first-half net loss was 6.7 million pounds, narrower than 10.2 million pounds last year.
Operating loss was 5.8 million pounds, compared to loss of 6.1 million pounds last year.
Operating EBITDA loss narrowed to 0.4 million pounds from loss of 1.4 million pounds a year ago.
Revenue increased 6 percent to 34.0 million pounds from 32.1 million pounds in the prior year.
Looking ahead, the company said it continues to target improved financial performance in 2020. Operating EBITDA for the Group is expected to be in the low to mid-single digit million range for the year.
The company expects a stronger second half to the year.
The partnership with AstraZeneca for their potential COVID-19 vaccine (AZD1222) is likely to boost revenues in the year in excess of 10 million pounds subject to successful scale up and regulatory approval of the fourth bioprocessing suite within Oxbox early in the fourth quarter of 2020.
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