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I am pleased to present my first Annual Report since taking over as Chairman of the Company in December 2017. It has been a highly successful year, with the Company reaching its lowest 12-month average discount since inception and even trading at a premium during December and January. Both the Company’s NAV per share and share price traded at an all-time high on numerous occasions in the last three months of the year. Whilst the NAV underperformed the NASDAQ Biotechnology Index (NBI), returning 8.6% versus the NBI return of 10.1%, Shareholders were rewarded with a share price total return of 13.7% during the year, including the dividend payment equal to 4% of NAV as at 31 August 2017. By contrast, the FTSE All-Share Index provided a total return of just 4.7%, demonstrating another strong year of growth and returns for biotechnology investors.

Published on 30th October 2018

Science background with molecule or atom Abstract structure for Science or medical background
Science background with molecule or atom Abstract structure for Science or medical background


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