Hybridan Small Cap Feast - 23 September 2024

23rd September 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, or it is a rumour Dish of the day Admissions: None Delistings: None Whats baking in the oven? Potential**** Initial Public Offerings: ITF announced: GenIP aims to list on the AIM market on 2 October 2024. It is targeting to raise £1.5m and anticipating a £6.5m market cap. GenIP is a portfolio

Hybridan Small Cap Feast - 4 July 2024

4th July 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, or it is a rumour Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 24th June 2024: Rosebank Industries: The Company aims to repeat the successful 'Buy, Improve, Sell' business model which the Rosebank Co-Founders implemente

Hybridan Small Cap Feast - 04 June 24

4th June 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(ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: Apollon Formularies (AQSE:APOL) has withdrawn from the Aquis Stock Exchange What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 22nd May: Raspberry Pi announces an intention to float onto the Premium listing

Hardman & Co Healthcare Index: 2023 – Capital demands dent performance

The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (

Hybridan Small Cap Feast - 4 Dec 2023

4th December 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje

Hybridan Small Cap Feast 18/09/2023

Dish of the day Joiners: No joiners today. Leavers: Egdon Resources has left AIM. What’s cooking in the IPO kitchen?** Announced ITF 12 July: Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Admission delayed. Announced ITF 6 July: Blackpoint Biotech plc, a medical can

Hybridan Small Cap Feast 10/07/23

Joiners: No joiners today. Leavers: Xpediator Plc has left AIM. What’s cooking in the IPO kitchen?** Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Expected Admission 21 July 2023. Blackpoint Biotech plc, a medical cannabinoids company established to fulfil gaps in t

Deltex Medical Interims

Deltex Medical Group (Deltex Medical) develops and markets a “best in class” haemodynamic monitoring system using Doppler ultrasound technology. Its TrueVue ODM+ platform is the world’s first fluid management and cardiac output monitoring technology which directly measures both blood flow velocity and blood pressure. With access to some international markets back to pre-COVID levels, the need to reduce elective surgery backlogs, the launch of a new monitor later this year, including the first it

Deltex Medical* - Accelerating Product Launch

Deltex Medical has raised £1.4m in new capital to launch, market and commercialise the next generation TrueVue haemodynamic monitor as well as a new non-invasive ultrasound probe. Each product has a significant potential to accelerate revenue growth for the Company, from a capital replacement perspective, but also to grow the addressable market and raise market penetration

Small Cap Feast 26/01/2022

Joiners: No Joiners Today. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Strip Tinning Holdings, an established supplier of specialist connectors to the automotive sector, intends to join AIM. Strip Tinning manufactures specialist flexible electrical connectors related primarily to heating and antennae systems embedded within automotive glazing and to the connection of the cells within electric vehicle (EV) battery packs, increasingly using flexible and lightweight printed circui

Hybridan Small Cap Feast 20/12/2021

Joiners: Great Southern Copper plc (GSCU.L) joins AIM. The Company successfully raised £3.5m. Mkt Cap £10.6m Leavers: Zoltav Resources leaves AIM. What’s cooking in the IPO kitchen? Hydrogen Utopia International PLC (HUI), to join Access Segment of the Aquis Stock Exchange. The company aims to become one of the leading new European companies specialising in turning Non-Recyclable Mixed Waste Plastic into carbon-free fuels, new materials or distributed renewable heat. HUI’s activities will range

Deltex Medical* - 2021 Interim Results

Deltex has reported 2021 interim results which reflect the challenges of the current healthcare environment with COVID cases causing disruption to the Company's core elective surgery market. That said, the Company has demonstrated it is able to keep costs low to match the current low activity, in anticipation of improving activity in 2022.

Small Cap Feast: 09/07/21

Joiners: LungLife (LLAI.L), a developer of clinical diagnostic solutions for lung cancer enhanced by artificial intelligence (AI), has joined AIM. The Company's technology is a combination of the recovery of rare cells and blood-based biomarkers shown to be altered in lung cancer. The Company employs machine learning to improve upon existing computer software to identify informative cells from blood, and intends to build a deep, novel pool of lung cancer-related data for AI-enabled applications

Small Cap Feast: 27/05/21

Dish of the day Taylor Maritime Investments (TMIP.L) has joined the Main Market (Premium). The Company is an internally managed investment company with an Executive Team led by Edward Buttery. The Executive Team has to date worked closely together for the Commercial Manager, Taylor Maritime. Established in 2014 by Edward Buttery, Taylor Maritime is a privately owned ship-owning and management business with a seasoned team that includes the founders of dry bulk shipping company Pacific Basin Shi

Deltex Medical* - 2020 Results – Encouraging initiatives for 2021

Deltex has announced 2020 results although revenue and cash balances were known from the trading update. 2020 was a challenging year given the impact of COVID on core elective surgery markets but the Group has brought forward initiatives and changes which provide a platform with more impetus for 2021 and beyond.

Warpaint London+ (W7L, House Stock at 512p) - Margin sparkle adds to strong sales growth - Upgrades!

BrainStorm Cell Therapeutics (BCLI) Update Note 03102024

BrainStorm Cell Therapeutics Inc. (Nasdaq: BCLI) develops NurOwn® stem cell therapy for NDDs – BCLI’s first target is ALS (MND/Lou Gehrig’s). We have stress tested our valuation vs. current global and market events as well as and BCLI’s reverse stock split (R/S) 30 Sept 2024 (to maintain Nasdaq listing). Whilst there are pros and cons – our risk adjusted WACC has increased and NPV reduced, our conservative base case expected dilution assumptions have improved with R/S and Nasdaq compliance and o

IRLAB Therapeutics - IRL757 starts strong in Phase I

IRLAB Therapeutics has announced an encouraging update for the ongoing Phase I trial for IRL757, which is being developed as a potential treatment for apathy. The single ascending dose (SAD) portion of the study has been successfully completed, with the initial data showing good absorption and exposure in the body, as well as a desirable safety and tolerability profile. The next step will be the multiple ascending dose (MAD) portion of the study, which management notes should be completed by end

Hardman & Co Monthly: October 2024

Feature article: Labour’s first Budget - Investors in their sights? Summary ► Budgets are always important for investors. ► The imminent Budget, at the end of October, will be doubly so, because it is the first from the new Labour government, and it has already signalled the need to fill an alleged £22bn black hole, while ruling out changes to more than half the tax base. That implies a lot of the pain will be felt by investors. ► This paper considers the impact of increases in rates for th

Morning Note – 30 September 2024

Hybridan Small Cap Feast - 4 October 2024

Dish of the day Admissions: None Delistings: None What’s baking in the oven? ITF announced:*** Potential** Initial Public Offerings: 30th September 2024: Applied Nutrition, the sports nutrition, health and wellness brand announced that it is considering an £500m IPO onto the LSE Main Market. Across the four ranges, the Group sells approximately 100 different products, with flavour and format combinations across those products resulting in over 500 stock keeping units. July 2024 YE numbers report

Morning Note – 6 August 2024

Hybridan Small Cap Feast - 17 April 24

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

Shield Therapeutics - H1 2024 – US ACCRUFeR growth and gross cash focus

STX reported encouraging H1 2024 interim results, with a confirmation of the ACCRUFer revenues given at the Q2 TU on 25 July, and an encouraging update on the cash position, reiterating that the period-end gross cash was $8.1m. This is prior to the $5.7m milestone monetisation payment that the company is expected to receive from AOP in H2 2024. In the release, the company notes that based upon the latest forecasts the Group’s monthly cash flow starts to turn positive in H2 2025, and that the cur

Kromek - Selected for UK Government Framework

Kromek has announced it has been selected as a supplier under the UK Government’s Radiological Nuclear Detection Framework. The company applied for three of the four Framework categories and was successfully approved and awarded a framework contract. The three categories cover the supply of handheld, wearable and large volume static radiation detectors, which, as per the announcement, have a combined maximum procurement value of £84m over the four-year framework term. The company will update the

Zeus Industrials Round-Up - 13 September 2024

The UK industrial sector continues to show promising signs of recovery, with manufacturing PMI reaching a 26-month high of 52.5 in August as all survey indicators but one expanded. Economic data has also been encouraging, with UK pay growth cooling to a two-year low and inflation rising only slightly in July – supporting the case for further interest rate cuts this year by the BoE.

Morning Note – 25 July 2024

Venture Life Group - Increased investment supporting growth

Venture Life has reported results for the 6-months to June 2024. Revenues in the period were flat YoY, with growth from VLG Brands offset by lower Customer Brand revenues. VLG Brand growth was supported by marketing investment, driving growth, particularly in the UK. Customer Brand revenue growth was impacted by a strong comparator period in which customer stocking had taken place. Gross margin increased, though was held back by strong sales growth through Amazon, which generates lower percentag

Creo Medical Group - Interim results

Creo Medical has reported results for the 6-months to June 2024. The company generated revenues of £15.2m in the period versus £15.7m in H1/23, the decline relating to the timing of Kamaptive milestone payments which were £0.1m in H1/24 versus £0.5m in H1/23 and lower Consumables revenues due to the H1-revenue weighting in FY23. Notably, Core Creo technology revenues increased 78% to £1.6m. The underlying EBITDA loss for the period was £10.5m and the company closed the period with cash of £9.8m.

Creo Medical Group - Divestment and raise

Creo Medical has conditionally raised £12m via an equity offering, with a retail offer for a further up to £5m underway, which alongside the cash expected to be received from the sale of a 51% share of Creo Europe, will be sufficient to see the company reach sustainable profitability based on our revised forecasts. Our model assumes the sale completes at the start of FY25 and cash is received at that time. As such our re-instated revenue forecasts are based on the sale of Core Creo devices, inco