BioPharma Credit net asset value ticks up but total payout lower

(Alliance News) - BioPharma Credit PLC on Wednesday reported an uptick in net asset value as it ...

Alliance News 27 March, 2024 | 11:19AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - BioPharma Credit PLC on Wednesday reported an uptick in net asset value as it expects its investment pipeline to grow this year.

The London-based closed-ended investment company focused on the life sciences industry said net asset value per share edged up 1.5% to 102.93 US cents as at December 31 from 101.39c a year prior.

The total dividend for 2023 is 10.21c, down 22% from 13.08c in 2022.

Looking ahead, Chief Executive Officer Pedro Gonzalez de Cosio said: "Following shareholder feedback, we have announced adjustments to the company's discount control mechanism and accordingly we look forward to capitalising on an active pipeline of new investment opportunities to ensure that the company has the potential to participate in attractive new investments."

He added: "We expect our investment pipeline to grow as new products and companies enter the market in 2024 and beyond. Pharmakon's extensive network and thorough approach will continue to identify strong investment opportunities. We remain focused on our mission of creating the premier dedicated provider of debt capital to the life sciences industry while generating attractive returns and sustainable income to investors."

BioPharma shares rose 2.8% to 73.00 pence each on Wednesday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
BioPharma Credit Ord 0.88 USD 0.00

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures