UK's Oxford Biodynamics slumps to record low on cash concerns

Oxford Biodynamics

14/10/2024 08:58

** Shares of Oxford Biodynamics  OBD.L  slump as much as 40%
to a record low of 2.20p, stock top pct loser across London
    ** The precision clinical diagnostics co begins review of
strategic options to cut costs and maximise cash runway 
    ** OBD will explore funding options and consider 
licensing or sale of assets or possible hive-off of U.S.
business into separately funded entity
    ** Co says will require additional cash resources by early
Q1 of 2025 
    ** Stock at session low as of 0743 GMT, taking YTD losses to
~92%

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))