Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ILIKA PLC. We currently have 29 research reports from 4 professional analysts.
|23Mar17 07:00||RNS||Patent grant for solid-state batteries in USA|
|17Mar17 18:25||RNS||Replacement: Trading update|
|17Mar17 07:00||RNS||Trading update|
|14Mar17 07:00||RNS||Collaboration with Galvani Bioelectronics|
|09Mar17 07:00||RNS||Toyota Funds Collaboration with Ilika|
|10Feb17 09:18||RNS||Holding(s) in Company|
|02Feb17 07:00||RNS||Materials development grant for Hard Disk Drives|
Frequency of research reports
Research reports on
Licensing revenue timing and recognition prompts top line forecast reduction
17 Mar 17
Ilika continues to make progress on the commercialisation of its Stereax™ solid-state battery platform, as well as the continued delivery of its materials discovery, development and optimisation expertise to blue-chip OEMs, with recent contract awards that include renewals and extensions from Seagate and Toyota. In our interim update on January 9th, we flagged how timing uncertainty in first upfront licensing payments from high prospect solid-state battery commercialisation OEMs may affect c.50% of our FY forecasts. In today’s trading update Ilika has been cautious, and predicts first licensing payments will not land before year end. We reduce FY17 and FY18 revenue forecasts by 56% and 40% to £1.1m and £2.9m respectively, which feed through to a reduction in FY18 closing cash balance of 51% from £6.9m to £3.4m. We reiterate this scenario was well flagged, and remain highly positive on the prospect of Ilika commercialising its world-class, solid-state battery platform in its high-growth, target mass markets.
Ilika enters £1m bioelectronics deal with GSK and Verily Life Sciences partnership company Galvani Bioelectronics
14 Mar 17
This morning’s announcement from Ilika, although relatively modest in initial top line impact, has significant commercial implications in the medium to longer term. Galvani was established to advance bioelectronic medicine, an emerging scientific field aimed at using tiny implantable devices to control electrical signals in nerves to treat a range of debilitating chronic diseases. Galvani combines GSK’s world-leading drug discovery and disease biology expertise, with Verily’s expertise in the miniaturisation of low-power electronic devices, data analytics and software development for clinical applications. Veriliy – formerly Google Life Sciences – was set up by Google founders Larry Page and Sergey Brin for the advancement of life sciences. Solid-state battery technology is really currently the only existing low-power source choice for intra-body bioelectronic medical applications for the following reasons: i. There is no potential for the leakage of harmful liquid electrolytes into the human body chemistry. ii. Solid-state battery chemistry can be miniaturized to a further extent than liquid based chemistries, due to negligible leakage currents and the capacity to maintain much smaller charges for much longer times. Ilika’s Stereax™ solid-state battery platform has been selected for the development effort. For bioelectronics applications of this nature batteries are charged wirelessly in situ using magnetic fields in a process known as nearfield charging. The first stage of this development is being funded by Innovate UK and the Medical Research Council.
Ilika signs 12 month new materials development deal with Toyota
09 Mar 17
In its trading statement on November 23rd 2016, Ilika referenced an existing blue-chip customer had given notice of intent to enter into a 12 month materials development program in a new application area worth $1m to Ilika. This morning it confirms that the deal with Toyota has successfully come to fruition and been signed. This is excellent news for Ilika and its shareholders for the following reasons. Firstly, it shows the strength of the company’s relationship with Toyota, and the belief Toyota has in Ilika’s world-class materials discovery platform. Secondly, it is further proof that the company’s core rapid materials development and optimization model for blue chip clients is in good health. Thirdly, that it is an ‘initial’ project, with the likelihood of follow-on and related programs in the same application area.
27 Mar 17
Elecosoft* (ELCO): Steadily building profits (CORP) | Bioventix* (BVXP): Interim results lead to upgrades (CORP) | Hurricane Energy (HUR): Halifax discovery (BUY) | KBT Business Technology* (KBT): interims and contract win (CORP) | Independent Oil & Gas* (IOG): Licence updates (CORP)
GMP FirstEnergy ― UK Energy morning research package
27 Mar 17
Amerisur Resources (AMER LN)6; HOLD, £0.30: Reduced 2017e production outlook and year-end 2016 reserves | Condor Petroleum (CPI CN)8 ; BUY, C$3.50: Reports 4Q16 results and remains on track for first production from Turkey in mid-2017e | Hurricane Energy (HUR LN) (not covered): Halifax well update in the UK | Cairn Energy (CNE LN): BUY, £2.90: Update on the VR-1 well in Senegal by Far (FAR AU) (Not covered) | Royal Dutch Shell (RDSA/B LN) (not covered): Divestment of Gabonese assets
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
Panmure Morning Note 22-03-2017
22 Mar 17
Acacia Mining and Endeavour Mining confirmed merger talks have now ended with Endeavour claiming an inability to “create adequate value for Endeavour shareholders”, most likely, we believe, given the disappointing ruling from the Tanzanian government on copper-gold concentrate sales. We were positive on the merger and believed a credible London listed Pan-African producer capable of challenging Randgold, would have been established. We make no change to our Hold recommendation today, and expect the shares to be marked lower in early trade.