The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.
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SMALL-CAP - WINNERS
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Oxford BioMedica PLC, up 6.9% at 244.25 pence, 12-month range 164.29p-474.50p. The gene and cell-therapy company says it is seeing decent demand for its contract development and manufacturing organisation offering, as it moves away from the Covid-19 vaccine era. Oxford BioMedica’s revenue in 2023 falls 36% to £89.5 million from £140.0 million and its pretax loss stretches to £188.5 million from £46.0 million. Hurting its bottom line is a £99.3 million impairment of assets booked in the US business, ‘driven by the cessation of revenues from Homology’. Homology Medicines Inc is a genetic medicines company and client of Oxford Biomedica US. More promisingly, Oxford BioMedica reports a ‘small increase in core business’ revenue. Chief Executive Officer Frank Mathias comments: ‘2023 was a year of transformation for Oxford Biomedica. We are building our position as a global pure-play cell and gene therapy CDMO and through our ’One OXB’ strategy are unifying our operations in the UK, US and the EU, including our newly-acquired sites in France...Despite challenging market conditions, we continue to see strong demand for our CDMO services, further solidifying our position as a world-leading global CDMO in the rapidly expanding cell and gene therapy market.’
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Digital 9 Infrastructure PLC, up 3.9% at 22.03 pence, 12-month range 14.50p-72.00p. The investor in internet infrastructure, such as data centres and subsea fibre receives a $25 million deferred consideration payment in connection with its sale of Verne Global. Digital 9 plans an additional £47 million repayment and partial cancellation of its revolving credit facility.
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SMALL-CAP - LOSERS
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Petrofac Ltd, down 31% at 15.46p, 12-month range 13.91p-87.50p. It warns a financial restructuring could see a chunk of its debt converted to equity, resulting in dilution of existing shareholders. The energy infrastructure company also flags an extra $130 million charge in its engineering and construction division and said the release of full-year results would be delayed.
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