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Highlights

  • Bioventix’s FY24 turnover increased by 6.2% YoY, reaching GBP 13.61 million, with growth from biotin blockers and T3 antibodies
  • Operating profit for FY24 rose by 5.5% YoY, reaching GBP 10.58 million, supported by higher royalties and revenue growth
  • The company ended FY24 with a GBP 6.0 million cash balance, boosted by Q3 royalties

Bioventix PLC (LSE:BVXP) is a UK-based company that develops and supplies high-affinity monoclonal antibodies for clinical diagnostics and blood testing.

In the fiscal year 2024 (FY24), Bioventix’s turnover reached GBP 13.61 million, reflecting a 6.2% year-over-year increase compared to FY23's GBP 12.82 million. The growth was driven by steady sales of vitamin D antibody (GBP 5.9 million, +1%), along with growth in biotin blockers (+35%) and T3 antibodies (+21%). However, declines in progesterone (-15%), estradiol (-7%), testosterone (-29%), and drug-testing antibodies (-21%) partially offset the overall positive performance.

Operating profit for FY24 stood at GBP 10.58 million, marking a 5.5% YoY increase from GBP 10.03 million in FY23. This growth was supported by revenue expansion and higher royalties from Tau antibodies and Chinese customers. However, the profit was slightly moderated by adjustments related to troponin royalty overpayments (GBP -327K), a maturing vitamin D market, and a rise in tax rates from 19% to 25%.

Bioventix concluded the year with a cash balance of GBP 6.0 million, supported by royalties in Q3. The board declared a second interim dividend of GBX 87 per share, bringing the total dividend to GBX 155 per share, paid on 21 November 2024.

Company Outlook

Bioventix has shown consistent financial growth, driven by its established products in mature diagnostic markets. The company is hopeful about the initial success of its Tau/Alzheimer's antibodies and anticipates ongoing progress ahead.

Top 10 Shareholders

The top 10 shareholders together hold approximately 65.11% of total shareholdings. Gresham House Asset Management Limited leads with around 12.03%, followed by Liontrust Investment Partners LLP with about 11.00%, as shown in the chart below:

Stock Information

The stock price of BVXP has experienced a decline of approximately 5.20% over the past month and a more significant drop of around 28.48% over the last six months. Its 52-week range spans from a low of GBX 2,700.00 to a high of GBX 4,845.00. Currently, the stock is trading below the average of its 52-week high and low, with a closing price of GBX 2,825 as of 12 March 2025.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 12 March 2025. The reference data in this report has been partly sourced from EODHD/Others.

 Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.