LONDON (dpa-AFX) - Oxford Biomedica plc (OXB.L), a gene and cell therapy company, on Wednesday reported that its net loss narrowed in fiscal 2024 compared with the last year, with growth in revenues.
Oxford Biomedica is currently trading 3.32% lesser at 247.50 pence on the London Stock Exchange.
Looking ahead, for 2025, the company expects revenue to range between 160 million pounds and 170 million pounds, which is in line with medium-term revenue guidance. This is expected to be stronger in the second half of the year, similar to how it has been in previous years.
The company anticipates Operating EBITDA profitability in 2025, with a small profit in the low single-digit millions of pounds.
The company's medium-term guidance from 2023 to 2026 includes a goal of increasing its revenue by more than 35% each year.
Oxford Biomedica also expects an operating EBITDA margin of around 20% by the end of 2026.
For the year ended on December 31, 2024, loss before tax narrowed to 47.27 million pounds from loss of 188.53 million pounds last year.
Net loss for the year also narrowed to 43.19 million pounds from loss of 157.49 million pounds in the prior year.
Loss per share was 41.75 pence versus 163.11 pence the prior year.
Operating loss narrowed to 39.38 million pounds from 184.17 million pounds in the previous year.
Operating EBITDA loss narrowed to 15.3 million pounds from loss of 52.8 million pounds in the prior year.
Revenue rose 44% to 128.80 million pounds from 89.54 million pounds last year.
Further, Independent Non-Executive Director, Audit Committee Chair Stuart Henderson has informed the Board that he intends to retire from the Board.
Colin Bond, who joined the Board as an Independent Non-Executive Director in January 2025, will take over Henderson's role. Bond recently was Chief Financial Officer of Sandoz.
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