OptiBiotix Health has reported its results for the six-months to June 2021. We believe the results demonstrate the strong performance the company has made during the period, expanding its commercial footprint for its first-generation platforms while continuing to develop its potentially higher-value second generation platforms. Notably, the company has evolved its board and management team to reflect its transition to an increasingly commercial business. For the six-months, revenues increased c4
Companies: OptiBiotix Health PLC
OptiBiotix operates in the human microbiome market and we see the company at an interesting strategic inflection point, with developing revenues generated from its lead products and showing commercial traction with the next generation of products. We expect the company to generate value from both sets of products and see additional upside from its holding in SkinBioTherapeutics. Our valuation analysis suggests the market is attributing little value to the company's second-generation platform lea
OptiBiotix has announced a trading and commercial update for H1/21E, demonstrating continued progression of its two-stage strategy. Unaudited revenues of £1.074m represent a 44.3% increase over the comparable period H1/20A. This was driven by an increase in the number of revenue generating partnerships entered into over the past 12 months, accessing new regions and bringing new products to market. Despite the impact of COVID-19, the company has made strong progress with its second-generation por
OptiBiotix has reported its final results for the year to December 2020, which are largely in-line with the financials reported with the recent ‘Strategy and commercial update'. 2020 was a strong year for the company as its two operational divisions achieved EBITDA profitability supported by increased commercialisation of the group's product range. This commercial moment has continued into 2021, as the company looks to scale its first-generation product sales with new product lines and new terri
OptiBiotix operates in the human microbiome market and we see the company at an interesting strategic inflection point, with developing revenues generated from its lead products and showing commercial traction with the next generation of products. We expect the company to generate value from both sets of products and see additional upside from its holding in SkinBioTherapeutics. With increasing interest being shown in targeting the human microbiome to improve health, OptiBiotix is well positione
OptiBiotix ("OPTI") recently announced a number of new commercial agreements for marketed functional food ingredients SlimBiome and LP-LDL. These new agreements take the number of commercial deals for both products to 57 and include a mixture of new distribution and manufacturing agreements, not only increasing the number of countries where products containing OPTI's ingredients are sold to over 70, but are also anticipated to improve profitability through the renegotiation of manufacture deals
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Yourgene has experienced strong demand for its Covid-19 tests, which propelled H1’22 revenues to £17.5m, ahead of the >£15.0m indicated at the AGM last month. This is more than double the revenues booked in H1’21 and close to the whole of FY21. Both Genomic Services and Genomic Technologies grew strongly in the period, with Covid-related revenues now acting as much more than a natural hedge in both segments. Despite the ongoing uncertainties and lack of forward visibility around Covid-testing vo
Companies: Yourgene Health Plc
Recruitment resumed the Phase 2a trial of the lead programme hRPC in retinitis pigmentosa (RP) with the treatment of the first UK-patient in Oxford. The protocol gives greater infection control after the safety issue (a possible infection) in June. Five patients were treated up to mid-October and the remaining four could be treated by December 2021. By late March 2022, ReNeuron expects to give an interim update. The full data set should be available around mid-2022. This will enable regulatory d
Companies: ReNeuron Group plc
Joiners No Joiners Today. Leavers No Leavers Today. What’s cooking in the IPO kitchen? Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz. Offer TBA. Due early Nov. Life Science REIT to join AIM raising up to £100m. This will be the first London listed real estate investment trust (REIT) focused on UK life science properties providing investors with exposure
Companies: SYS1 ARE SO4 SNG TMG TMT OHG IDE KIBO MRL
SkinBioTherapeutics has made significant progress through 2021, and ahead of the launch of its first product, AxisBiotix-Ps on World Psoriasis Day, we provide an overview of the company, its commercial channels and its progress. With the imminent launch of AxisBiotix-Ps, the company is at a significant inflection point, transitioning from a development organisation to a commercial operation. Importantly SkinBioTherapeutics has four further commercial channels in progress behind this lead opportu
Companies: SkinBioTherapeutics Plc
Joiners No joiners today. Leavers No leavers today. What’s cooking in the IPO kitchen? ATOM headquartered in Leeds, focussed on the large-scale production of green hydrogen and ammonia intends to join AIM towards the end of the year. ATOME intends to be spun-out from AIM-listed President Energy Plc, an oil and gas company which has incubated and financially supported ATOME to date, by way of a dividend in specie and flotation. Devolver Digital to join AIM, an award-winning digital video games pu
Companies: SAE HMI MNO MSMN NSCI OMG PCA
IXICO has announced that one of its clients has put an indefinite halt on a clinical trial for which the company was providing its artificial intelligence medical image analysis. The halt is the result of unexpected preclinical data. IXICO had expected the contract to deliver £0.8m of revenues in FY22E and it represented £3.3m of the £18.8m order book as of the close September 2021. While this news is disappointing, clearly the trial halt has no reflection on the capability of IXICO's technology
Companies: IXICO Plc
Joiners No Joiners Today Leavers No Leavers Today What’s cooking in the IPO kitchen? Arrow Exploration Corp. (AIM: AXL ; TSXV: AXL) , the oil and gas exploration and production company, has conditionally raised approximately £8.8m and is due to complete its dual listing on AIM on 25 Oct. Market cap c£13.1m. Devolver Digital to join AIM, an award-winning digital video games publisher and developer in the indie games space. Recently awarded indie 'Publisher of the Year 2021' by GamesIndustry.biz.
Companies: ZYT CIC DMTR GILD LMS MMAG PYC SMRT SBI
H1 EBITDA declined by 45% YoY, albeit this was slightly better than we had anticipated after the pre-close update in August. The beat was cost related (efficiencies/savings). There was a significant gross margin drag though and, while transitory in nature and diminishing in H2, this means further savings need to be realised to hit full year forecasts. This is our view and we retain a good level of confidence in next year’s forecasts. Having de-rated, valuation looks very undemanding now on just
Companies: Venture Life Group Plc
CareTech is a specialist social care and educational services provider. This morning, the group has announced an update for the year to 30 September pointing to the fact that results will be in line with market expectations. The net debt position of £259m illustrates a further reduction since the end of H1 (31 March £263.1m) and implying a reduction to 2.7x adjusted EBITDA. During the year, seven new developments have opened, with a further eight properties purchased in H2. The group's freehold
Companies: CareTech Holdings PLC
Positive headline results announcement, showing a statistically significant and clinically meaningful difference between Grass MATA MPL and placebo in hayfever patients in the exploratory field study (G309), is considered a major de-risking event. Not only does it increase the probability of successfully completing the pivotal Phase III study (G306) in the US and EU, but it underpins the broader MATA MPL platform, which includes tree and ragweed pollen, and increases the likelihood of completing
Companies: Allergy Therapeutics plc
Venture Life has announced its interim results for the six months to June 2021. As previously announced in the August trading statement, revenues were down YoY due to lower HSG sales and sales to the Chinese partner, though revenues are expected to grow subsequently, benefiting from the two recent acquisitions. H1/21 gross margin was impacted by a number of factors including supply chain costs and stockholding costs; however, the company expect margins to improve in H2/21E. Despite the set-backs
Full-year results were in line with the trading update of 21 July, with revenues of £31m (-2%), reflecting the impact of COVID-19 on out-patient procedure rates, resulting in 14% and 24% declines in adjusted EBITDA and pre-tax profit, respectively. Lower than expected procedure growth rates and the decision to discontinue non-core (non-chlorine dioxide products) reduces forecast revenues by c.£3m to £33m in FY 2022. However, higher gross profit and tight control of costs (+6%) results in an unch
Companies: Tristel Plc
SkinBioTherapeutics has announced it will launch its lead commercial product, AxisBiotix-Ps on World Psoriasis Day, 29 October 2021. To support the launch, the company has begun to receive, and store finished product in the Netherlands (close to its manufacturing partner) ahead of initial launches in the UK and US. Clearly the launch of its first product is a significant step for SkinBioTherapeutics, marking the transition from development company to commercial operation. We are encouraged by th
NetScientific plc (NSCI) an active transatlantic life sciences/healthcare, sustainability and technology investment and commercialisation group announces that its corporate finance and venture capital division EMV Capital Ltd (EMVC) has advised on a £843k fundraise, into Sofant Technologies, the leading 5G and Satcom antenna developer based in Edinburgh. The fundraise consists of £300k direct investment from NetScientific, £343k from private clients and £200k matched funding from the British Bus
Companies: NetScientific plc
Hikma’s H1 20 top-line acceleration was driven by COVID-19-related demand in Injectables and Generics and the economic recovery in Algeria propelled growth in the Branded segment. Combined with a favourable product-mix, the operating margin was up 1.5ppt. In the near term, new launches across segments should provide some respite against the ongoing pricing pressure. Given the company’s thin R&D pipeline and a robust balance sheet, M&A (probably in the biosimilars space) seems on the cards.
Companies: Hikma Pharmaceuticals Plc
