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4basebio’s half-year results for the period ended 30 June 2023 reflect continued progress towards its main objective of producing GMP-grade synthetic DNA, with a focus on building out its commercial footprint. It generated revenues of £0.24m (+57%, with all growth coming from the sale of DNA and Hermes™ nanoparticles) with an adjusted net loss of £3.5m (H1 2022: £2.4m, +46%) and period-end cash of £3.6m, having drawn a further €4m from its €23m loan facility that gives it a cash runway into 2025
Companies: 4basebio PLC
Cavendish
17th April 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acquire the entire issued share capital of 3radi
Companies: ARS TIDE SCE SNX ECK CNS TST SPEC SSTY
Hybridan
Diaceutics has released a trading statement for the year to December 2023 guiding to revenue growth of 22% YoY to £23.7m, up 19% on a constant currency basis. The order book jumped 57% to £26.6m, of which c£12.3m is expected to be realised in FY24, and which currently stands at £30.8m. The proportion of recurring revenue continues to increase and is now over 50% (FY22 35%). Cash at YE23 stood at £16.7m, indicating a near halving of the rate of cash burn in 2H23 compared to 1H23. We adjust our FY
Companies: Diaceutics Plc
Capital Access Group
Tissue Regenix is a commercial-stage regenerative medicine business with a broad range of products targeting large addressable markets in orthopaedics/sports medicine, biosurgery and dental. Its differentiated product portfolio is underpinned by two proprietary processing technologies (BioRinse® and dCELL®) that deal with the repair or replacement of bone and soft tissue (e.g. skin, tendons). Its last trading update was positive, indicating 24% (26% CER) revenue growth in 2022 and a move into EB
Companies: Tissue Regenix Group plc
Tissue Regenix reported full-year results to 31 December in line with its January trading update that indicated it had reached EBITDA profitability in Q4. What was undisclosed then was that it included a $0.45m provision, without which it would have generated an adjusted EBITDA of c.$0.4m in H2, illustrating the positive underlying progression to a profitable and sustainable growth company. The outlook remains positive – new products, new geographies and additional distributors/strategic partner
Tissue Regenix reported interim results in line with its July trading update that indicated it had reached adjusted EBITDA profitability, driven by sustained c.19% CER revenue growth. With new products, new geographies and additional orders from distributors/strategic partners fuelling growth, the outlook remains positive. We nudge up our forecasts to reflect the adjusted EBITDA progress but suggest that the risk of changes remains to the upside. We reiterate our target price of 120p, at which l
Tissue Regenix has announced positive developments to expand its operations in Europe, following the approval of its Irish logistics hub, received in October 2023. The company has made its first shipment of allograft products from the Irish hub, marking a key milestone for the European market. Additionally, Tissue Regenix has signed new distributors covering Ireland (including Northern Ireland) and Turkey. These agreements follow the signing of a Spanish distributor in October 2023. We see both
Tissue Regenix has provided a trading update for the 12 months to December 2023, noting strong trading delivering revenue growth of over 20% in the year. Group revenues are expected to be $29.5m, ahead of our $29.0m forecast, with H2/23 revenues delivering the sixth consecutive period of half-on-half double-digit revenue growth. Significantly, Tissue Regenix generated an adjusted EBITDA profit for the year, again expected to be ahead of our forecast. Cash at year-end was $4.5m (H1/23A: $4.1m). L
Companies: VEL FRP CHAR POLB
Tissue Regenix has reported on strong performance through 2023, noting record revenues driven by product adoption and expanded distribution, positive adjusted EBITDA for the first time and an increased cash position versus H1/23. FY23 revenues grew 20% to $29.5m supported by 25% growth from BioRinse products and 17% growth from dCELL products. Significantly, Tissue Regenix reported its first adjusted EBITDA profit for the year, +$0.9m, supported by revenue growth and cost management. We expect t
Poolbeg Pharma has announced FY 2023 results to end December 2023, which positively reflect the company’s capital-efficient operating model with net cash of £12.2m being reported, significantly ahead of our expectations (2023E: £10.9m). Meaningful R&D progress whilst maintaining financial prudence means that Poolbeg enters 2024 with a strong balance sheet in absolute terms and relative to many biotech peers, with a cash runway (to fund the existing R&D pipeline) we forecast will extend into 2026
Companies: Poolbeg Pharma PLC
Companies: STX FADL POLB
Companies: CNC RNO MAI IUG CUSN POLB
Following Creo Medical’s H123 trading update (see our August note), management has reported detailed results, including a 42% increase (sequentially over H222) in the volume of Speedboat Inject procedures, coupled with expansion into the US consumables business market. Creo continues to build momentum with its Pioneer training programme. Management remains active on licensing and regulatory fronts, through its robotic deals with Intuitive and CMR, further exploration of potential licensing for i
Companies: Creo Medical Group Plc
Edison
Hikma’s all three segments continued their healthy performance in Q3. While the management upgraded its 2023 guidance for two segments, Injectables was held back by temporary capacity constraints, which led to this segment’s lower-than-expected performance in Q3 and a slight downward revision to the full-year outlook. Nonetheless, the Injectables’ situation is expected to normalise in 2024. Overall, the strong ongoing momentum, the promising long-term prospects for generics/biosimilars and a hea
Companies: Hikma Pharmaceuticals Plc
AlphaValue
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