Oxford Biodynamics shares sink on widening loss

AIM-listed Oxford Biodynamics (LON:OBD) has seen its share price drop by 4.62% to 155p (as of 12:40 BST) after its operationg loss for the six months to 31st March widened to £1.7 million. Revenues rose slightly, but the business continued to invest for future growth, including the formation of a US subsidiary.

CEO Christian Hoyer Millar said: “We have made further strong operational and commercial progress in the first half of the year. Our EpiSwitch™ technology platform has been adopted by prestigious clinical trials in the US and UK; we have enhanced the senior leadership team and Board to drive the next phase of growth; and have entered into promising new collaboration agreements. We were also delighted to be awarded the prestigious Queen’s Award for Enterprise: Innovation, a great recognition of the value our EpiSwitch™ platform has generated to date“.