Oxford BioDynamics PLC has released its preliminary results for the year ended 30 September 2023, along with a notice of its Annual General Meeting. The company, known for developing precision medicine tests based on the EpiSwitch® 3D genomics platform, reported several corporate, operational, and financial highlights. These include the processing of 516 EpiSwitch® CiRT tests, the establishment of a US clinical laboratory, successful fundraises, and the launch of the EpiSwitch® PSE Prostate Screening Test in the US and UK. The company also reported a revenue of £0.5m and an operating loss of £10.2m, reflecting investments in team and infrastructure to support CiRT and PSE.
Post-year end highlights include the assignment of a unique CPT-PLA code for PSE, an agreement with leading UK health insurer Bupa UK to cover EpiSwitch CiRT, and discussions regarding monetizing the company's pipeline assets. The company's CEO, Jon Burrows, expressed gratitude to investors for their support and outlined the company's dedication to growing sales of both EpiSwitch® CiRT and EpiSwitch® PSE across all markets and channels, as well as pursuing opportunities to monetize assets from within their pipeline of deployable tests.
The company's Annual General Meeting is scheduled to be held on 27 March 2024, and an investor webinar is set to take place on 17 January 2024. The management team will conduct a live presentation via the Yellowstone Advisory webinar platform, addressing questions from existing and potential shareholders. For further details, interested parties are directed to the company's contact information provided in the announcement.