GCISyncona NAV grows in Q3
(Sharecast News) - Life sciences investor Syncona (SYNC) said on Thursday that its net asset value had grown in the three months ended 31 December, driven by a prioritisation of capital allocation across its portfolio to enable the delivery of key inflection points.
Syncona said net assets had risen from £1.2bn at the end of September to £1.25bn at the end of December, with a NAV per share return of 5.4% in the period, driven by a £111.1m increase in the value of Autolus Therapeutics.
The FTSE 250-listed group added that over the nine months to 31 December, NAV per share returned 0.9%, with its life science portfolio generating a return of 3.0%.
Chris Hollowood, chief executive of Syncona Investment Management, said: "We have continued to take decisive action to support our companies' ability to deliver on their next key clinical milestones to maximise value across the portfolio against a continuing challenging market backdrop in the third quarter.
"Looking ahead, we have six key value inflection points over the next 12-36 months with the potential to drive significant NAV growth and are funded to deliver these. We will continue to take a rigorous approach to capital allocation and portfolio management, whilst also continuing to fuel our long-term growth by creating new companies across the new frontier of science."
As of 0900 GMT, Syncona shares were down 0.087% at 115.50p.
Reporting by Iain Gilbert at Sharecast.com
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.