12m to May-22 results

Oncimmune has released results for the 12m period to May-22, ahead of its changed year and to August. These results reflect a period of investment into the commercial team for ImmunoINSIGHTS and increased penetration into the Top 15 global pharma customers, where a number of MSAs have been signed. These are expected to translate into faster contract wins and management reports a current weighted value pipeline of £11.0m across the business, providing increased revenue visibility. Cost savings in

Hybridan Small Cap Feast 08/07/22

8 July 2022 @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 objectives

Hybridan Small Cap Feast 07/03/22

Altus Strategies 54p £63.4m (ALS.L) Altus Strategies announces the appointment of Mr Gérard De Hert as a non-executive director of the Company, effective immediately. Mr De Hert is Managing Director (Technical Services) at La Mancha Holding S.àr.l. His appointment is in accordance with the terms of the Strategic Investment Agreement between La Mancha and the Company (SIA) approved by shareholders on 18 February 2020 (see Company announcement of 19 February 2020). Under the terms of the SIA, La M

Hybridan Small Cap Feast 04/03/2022

Joiners: More Acquisitions (TMOR.L) has joined the Main Market (standard) raising £1.2m. The Company was formed to undertake one or more acquisitions of a majority interest in a company or business. Any such acquisition undertaken by the Company will be treated as a reverse takeover for the purposes of Chapter 5 of the Listing Rules. The directors intend to search initially for acquisition opportunities in the energy transition sector. Energy transition refers to the global energy sector's shift

Hybridan Small Cap Feast 01/03/2022

7Digital Group 0.375p £10.2m (7DIG.L) The global leader in B2B end-to-end digital music solutions, announced that the Company has signed a contract with an existing B2B music streaming service customer, worth a minimum of EUR2.2m over a three-year period. The Company has been providing services to the customer since 2016, with contract renewals on an annual basis. This latest contract expands the relationship to a long-term agreement, providing greater visibility over revenue. The Company also e

Hybridan Small Cap Feast 28/02/2022

Joiners: ASX Listed Neometals Ltd (NMT.L) has joined AIM. Neometals innovatively develops opportunities in minerals and advanced materials essential for a sustainable future. The Company has four key battery materials projects that support the global transition to more circular supply chains and cleaner energy. Mkt Cap is expected to be approximately AU$716m. No capital raised. Leavers: No Leavers Today. What’s cooking in the IPO kitchen? URA Holdings, a London based mining exploration and devel

Small Cap Feast 26/06/2021

i(x) Net Zero, the investing company which focusses on Energy Transition and Sustainability in the Built Environment, announces its intention to join AIM. Following Admission, the Company intends to use the net proceeds of the proposed Fundraising to provide development and expansion capital to certain of its investee companies, for future investments in companies that fall primarily within its areas of interest in Energy Transition and Sustainability in the Built Environment and to provide work

Record quarterly sales intake

As highlighted in the full year results announcement last month, Oncimmune has seen a significant increase in business activity since the end of the summer. A number of deals have been signed with both new and existing customers, leading to a record quarter in terms of contract wins. These include two contract wins with two new large pharma customers investigating SLE, a condition that is currently incurable and difficult to diagnose. In addition, a number of other contracts are in late stage ne

Looming inflection as ImmunoINSIGHTS scales

Oncimmune has released its FY results to May-21. Whilst largely historic, they reflect the strategic progress made with the ImmunoINSIGHTS business in particular, supported by a £9.0m equity raise in March. A number of significant new customers have been won and capacity expansion is underway to satisfy the expected increase in demand from these and a significant pipeline of opportunities, which is accelerating after an unexpectedly quiet pharma services market in Q1. We make no change to our fo

ImmunoINSIGHTS win; COVID yesterday, cancer today

Oncimmune has announced an autoantibody profiling contract with the prestigious DanaFarber Cancer Institute. The contract opens up ImmunoINSIGHTS autoantibody profiling service to a number of Dana-Farber led oncology studies. We estimate the contract win to have minimal initial financial value, but importantly it brings influence and provides a framework for future use amongst pharmaceutical sponsors. Consequently, we make no changes to our estimates (projected 66% CAGR FY’21-23 in ImmunoINSIGHT

Small Cap Feast: 23/07/21

Joiners: Draper Esprit (GROW.L) has moved from AIM to the Main Market Leavers: No Leavers Today. What’s cooking in the IPO kitchen? Northcoders, an independent provider of training programmes for software coding, to join AIM. It offers a range of training and software development solutions to individual and corporate customers. The Company's offering includes 'bootcamp' training courses, government funded apprenticeships and bespoke training courses and software development solutions. The Com

Support for ImmunoINSIGHTS utility in COVID-19

Demand for ImmunoINSIGHTS profiling service is high and today’s release of data from its collaboration with Cedars-Sinai Medical Center illustrates further evidence of the value-add ImmunoINSIGHTS may have to potential customers across disease areas. There are a number of findings discussed in the paper, but with relevance to ONC shares, it shows the importance of using autoantibody profiling over a longitudinal basis to better understand symptomatology, disease duration and effective therapeuti

Trading update reaffirms positive outlook

A comprehensive FY’21 (May Y/E) trading statement touts a strong FY’21 outturn in line with our expectations that shows 8x topline growth, building strength in the ImmunoINSIGHTS service business and sets the tone for future upgrades. We leave estimates unchanged, but believe forecasts are prudently pitched with risk to the upside. Notably Investors should take confidence in that management believes that, eight days into the new financial year and a strong start to FY’22, it has visibility on up

Core ahead of expectations, growth initiatives progressing but more slowly

EKF has issued an FY22 trading update, with the established Point-of-Care and Central Lab segments growing strongly and ahead of expectations, but growth initiatives coming through slower than forecast. CEO Mike Salter has stepped down, but will remain with the group to focus on delivery of the latter, with Julian Baines returning temporarily as Exec Chair whilst a new permanent CEO is recruited. We pare back our growth expectations in FY23, with additional cost saving measures underway to prote

Positive full year update highlights upside risk

VLG has reported a positive year end update after a strong Q4 performance, particularly across its Customer Brands division. The team at Biokosmes delivered an exceptional year, helping to protect key customers against the ongoing supply chain difficulties. This performance puts VLG on track to at least deliver FY profit expectations, and we have upgraded FY22 EPS by 5.5%. While we make no changes to FY23 forecasts at this stage, on balance we see risk to the upside. On just 5.0x EV/EBITDA, and

Kromek - Interim results – strong revenue growth

Kromek reported interim results with revenues up 44% to £6.8m, an EBITDA loss of £2.7m and period-end cash of £1.0m. A record order book and good visibility over our FY 2023 revenue forecast of £18m (c.91% of which 84% is already contracted or shipped) should still deliver a positive EBITDA in H2, but given inflationary cost pressures and a negative FX impact on translated US costs, it is unlikely to offset the H1 loss as previously anticipated. We reduce FY 2023 EBITDA and PBT by £2.4m and £2.8

Hybridan Small Cap Feast - 25 Jan 23

25 January 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 object

Tissue Regenix - Initiation of coverage – positive FY 22 trading update

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

Morning Note – 31 January 2023

Hybridan Small Cap Feast - 17 Jan 23

17 January 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 object

Q4 beat + strong guidance

Despite some moderation, Q4 sales crossed expectations as healthy growth in Vaccines and HIV was overshadowed by declining sales of COVID-19 solutions. While 2023 is guided to be strong, COVID-19-related sales are expected to continue declining. Even as Vaccines and HIV continue their momentum, GSK needs to find other avenues for growth, preferably in high-potential oncology. Considering the firm’s legacy strengths and hope of an R&D turnaround, given the on-going initiatives, the share price of

Confirming further upgrades post positive update

At the trading update earlier this week, NIOX indicated FY22 EBITDA would be around £7.0m, ~15% ahead of already upgraded expectations, with net cash coming in at £19.4m. This was driven by 15% underlying revenue growth, improved gross margins on mix and ongoing operational efficiencies. We formally update our estimates in this note, increasing our FY22 PBT/EPS forecast by 20% but, prudently, leaving FY23/24 unchanged for now. The outlook remains positive with latent growth potential in the US a

Hybridan Small Cap Feast - 23 Jan 23

23 January 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 object

Hybridan Small Cap Feast - 26 Jan 23

26 January 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 object

Hybridan Small Cap Feast - 20 Jan 23

20 January 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 object

Hybridan Small Cap Feast - 30 Jan 23

30 January 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 object

Hybridan Small Cap Feast - 06 Feb 23

06 February 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 objec

Hybridan Small Cap Feast - 03 Feb 23

03 February 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 objec