UK's Oxford Nanopore falls as US government funding cuts cloud outlook

Oxford Nanopore Technologies

04/03/2025 11:12

** Shares of British biotech firm Oxford Nanopore Technologies ONT.L fall as much as 11% to 93.1p

** Warns that changes to Federal funding in the US for institutions such as the National Institutes of Health (NIH) and tighter export controls could impact revenue growth in 2025

** Group exposure to NIH estimated to be between 10-15% of revenues

** Co expects to break even on adjusted EBITDA basis in FY27 and become cash flow positive in FY28

** Forecasts 2025 revenue growth between 20%-23% on a constant currency basis

** Expects to take charge of 6 million pounds in 2025 from a 5% cut in workforce concluded in January

** Stock has fallen about 25% over last 12 months

 (Reporting by Raechel Thankam Job in Bengaluru)

 ((RaechelThankam.Job@thomsonreuters.com))