Oxford Nanopore Technologies PLC (LSE:ONT) shares leapt 20% after the DNA and RNA testing group said revenue for the first half of 2025 is likely to be ahead of expectations.
The FTSE 250-listed group said revenue was around £105 million, up 25% year-on-year or 28% on a constant currency basis.
This was around 5% ahead of the current average analyst forecast and outpaced the full-year guidance range of 20-23% growth, which remained unchanged.
Gross margin is expected to be slightly below the 58.8% reported a year ago, due to a one-off inventory charge and foreign exchange headwinds, but the company maintained its full-year gross margin target of around 59%.
Cash and equivalents at 30 June 2025 were £337 million, compared to £403.8 million at the end of December.
The shares rose 29p to 175p, and are up around a third since the start of the year. However, they are still down around 67% from five years ago.