Research on Oxford BioDynamics Plc (OBD:LON) from Trinity Delta
Trinity Delta view: Oxford BioDynamic’s £9m raise alleviates the overhang caused by the known funding constraints and provides breathing space to allow management to pursue key strategic goals. The priorities are: commercial execution, converting the strong science into revenue-generating operations; disciplined resource allocation, capital is directed to programmes with the highest near-term value; greater customer adoption, as real-world utility demonstrates worth; and strategic partnerships, as deals are the only way to achieve a global reach. The EpiSwitch Orion cloud-based 3D genomics platform remains a primary focus and, together with growing EpiSwitch test volumes, should create shareholder value. Longer-term, in our view, sustainable volume growth will require substantial ongoing commercial investment. Hence, the importance of striking attractive deals with third-party partners should not be underestimated.
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