Stock Spotlight: Oxford Nanopore to 'soar to heady heights' despite 'discount to US counterparts'

22% year-on-year growth

Oxford Nanopore Technologies’ recent growth surge has reinvigorated analyst and manager outlooks for the company, despite the fact it may take years for it to break even.

In an H1 2023 trading update last week, the biotech company - a stock once best known as a holding of Neil Woodford - reported £86m in revenue for the period, representing 22% year-on-year growth on a reported basis, and 16% on a constant currency basis. Stock Spotlight: YouGov GfK deal a 'shrewd' business move Full year revenue was expected to fall between 16-30% on a constant currency basis, with CEO and co-founder Gordon Sanghera noting "demand for our technology continues to grow from an increasingly broad and diverse base of customers". He continued: "We have also made conside...