Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Oxford BioDynamics (LON: OBD) share price is trading lower on Friday despite its announcement that it has signed a lease agreement for a new laboratory and office space at Oxford Business Park to expand its UK facilities.
The new space is 24,000 square feet and will house the company’s growing UK infrastructure. OBD recently launched its EpiSwitch CST Covid Severity Test and EpiSwitch Explorer Array Kit.
The AIM-listed company said the larger space will allow it to operate independent processing lines for commercial test development and product support, biomarker discovery contracts, clinical trial support and internal R&D projects.
It will also provide custom-designed space for product manufacturing, sample and consumables storage, and offices and meeting rooms to accommodate its entire UK team.
Development work is expected to be completed in late July.
“This new lease comes at an exciting time for OBD, following the launch of both our prognostic test for COVID-19 severity and the EpiSwitch® Explorer Array Kit. It marks the next important step of the continued roll-out of our expanded strategic focus,” said Dr Jon Burrows, CEO of Oxford BioDynamics.
Oxford BioDynamics share price is down over 1.8% following the news, at 91.4p.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .