International Biotechnology Trust PLC released its annual report and financial statements for the year ended August 31, 2024. The report highlights include
The net asset value (NAV) rose by 15.9% per share, outperforming the NASDAQ Biotechnology Reference Index, which rose by 15.3%.
The NAV per share of the quoted portfolio, sterling-adjusted and with dividends reinvested, rose by 15.4%.
Successful identification of mergers and acquisitions candidates, with two quoted holdings being acquired during the financial year.
The unquoted exposure represents 8.6% of the companys total assets, primarily invested in two SV venture capital funds.
The companys dividend policy is to make dividend payments equivalent to 4% of the companys NAV.
Alexa Henderson was appointed as a non-executive Director and Audit Committee Chair, effective January 1, 2025.
The companys portfolio managers will present at an investor webinar on December 5, 2024.
The companys outlook is positive, with the recovery in the biotechnology sector and strong fundamentals, including an aging demographic, efficient clinical trials, and innovations in disease areas.