Oxford Nanopore shares surge

Oxford Nanopore shares closed almost eight per cent higher yesterday after the recently listed  University spinout upped the 2022 and 2023 sales forecast for its life sciences unit bolstered by multi-million dollar long tern contract win in the UAE.

The Genomics group forecast revenue for the core unit will hit between £170m and £190m in 2023, a significant boost from the previous estimate of between £165m  and £175m that it released ahead of its  £3.5bn London debut in September.

Its revised forecast came alongside an announcement of a new $68m three-year contract with Abu Dhabi- based G42 Laboratory.

The new contract is expected to generate revenues after the end of 2021, the group is maintaining its life sciences guidance for the current year of £10.5- 11m – the result of its 60-70 per cent  growth this year as announced in October.

LSE’s eight biggest listing this year, Oxford Nanopore’s debut was  warmly received with shares surging 45 per cent  valuing it almost £5bn.

In May 2019, Oxford Nanopore has made Flongle starter packs available to purchase https://store.nanoporetech.com/flongle.html, after initial testing in an early-access programme.  Flongle introduces a new paradigm of smaller, on-demand DNA or RNA sequencing tests, with the potential to transform a range of applications where rapid insights are required at low cost.