Oxford Nanopore Technologies PLC surged 6.6% to 130.2 pence on Tuesday, paring declines from a July trading update that had pushed the stock to a 52-week low of 95.7 pence.
The biotech firm’s interim results for the six months ended June 30 showed gross margin widening by 400 basis points to 62.2%, while adjusted EBITDA losses more than halved to £22.1 million from £48.3 million a year earlier. Adjusted operating costs fell nearly 7% year-over-year, and clinical revenue rose 35.4%. Management reiterated a target of adjusted EBITDA breakeven by 2027.
A new global cross-licensing agreement is expected to generate $20 million in licensing fees in the second half of FY26, with an additional $15 million in committed product purchases across FY27 and FY28. Revenue headwinds persisted from China and the Middle East, the company noted.
Analysts at Berenberg maintained a Buy rating but trimmed the price target to £2.00 from £2.20. The FTSE 100 was little changed on the day, while UK July CPI inflation rose to 2.9% year-on-year, matching forecasts and tempering expectations for further Bank of England rate hikes.
