Cenkos: OptiBiotix Health Plc -- Momentum Building

OptiBiotix has opened an online store on Tmall, a cross-border online marketplace through which OptiBiotix has launched a range of GoFigure shakes direct to Chinese consumers. OptiBiotix has partnered with a Tmall agency, InReady, to promote and operate its Tmall store. Momentum has been building at OptiBiotix in recent months, with the company launching GoFigure products in the sizeable Indian and Chinese markets, as well as receiving approval for a third: Saudi Arabia. We believe these new pro

Cenkos: OptiBiotix Health Plc -- Interim Results

OptiBiotix has issued its interim results for the six months ended 30 June 2022. In line with the company's August trading update, revenues have fallen to £0.12m as delays to customer restocking and new product launches impacted the top-line. Whilst the operating loss grew to £1.11m, as the company invested in key management personnel, OptiBiotix delivered over £10.2m in value to shareholders through a dividend in specie following the listing of ProBiotix Health (PBX) in March 2022. Post-period,

Cenkos: OptiBiotix Health Plc -- GoFigure Launch with Apollo

OptiBiotix has launched its GoFigure weight management range in India through its commercial partner Apollo Hospitals (Apollo). Apollo owns and operates the largest pharmacy network across India and will initially stock the GoFigure range in key stores in major Indian cities, as well as online. Apollo is one of three large partners which entered commercial agreements with OptiBiotix in late-2021. The launch demonstrates OptiBiotix' strategic shift towards selling a greater proportion of finished

Cenkos: OptiBiotix Health Plc - Trading update

OptiBiotix has issued a trading update ahead of the group's half year results for the six months ended 30 June 2022. Results will be affected by the new accounting treatment of recently spun-out ProBiotix Health (PBX), as well as the timing of several larger customer orders. As such, OptiBiotix expects total revenues of c£120k for the period, resulting in revenues being materially behind market expectations. OptiBiotix expects to return to growth by 2023; however, given the ongoing uncertainty a

Cenkos: OptiBiotix Health Plc -- Commercial and Scientific Update

OptiBiotix has issued a commercial and scientific update, highlighting the significant progress made across its range of prebiotic ingredients and products. The update further demonstrates OptiBiotix' ability to grow its product range, expand applications for existing products and extend its reach into new territories. OptiBiotix, is also conducting further clinical work to increase the body of evidence supporting its products to help drive future growth. We maintain our Buy rating.

Cenkos: OptiBiotix Health Plc -- Final results

OptiBiotix has reported final results for the year to December 2021, with revenues growing 45% to £2.2m and the EBITDA loss increasing to £1.0m, reflecting the increased investment in the business. Post-period end, OptiBiotix has continued to return value to shareholders through the successful spin-out and listing of its ProBiotix Health division. Future growth of the company is supported by commercial agreements with large partners and a substantial pipeline of opportunities through its 2nd gen

Cenkos: OptiBiotix Health Plc -- ProBiotix probiotic yoghurt launch

ProBiotix, OptiBiotix' former subsidiary in which it holds a 44% shareholding, has announced the launch of a probiotic functional yoghurt brand containing the proprietary cholesterol reducing functional ingredient LPLDL. We see this as a significant milestone for ProBiotix, having overcome several technical hurdles during the 2.5-year development process, extending the use of LPLDL into functional dairy foods and offering the potential to replicate the development in other geographies and functi

Cenkos: Healthcare Sector - Ward Round

Weekly round-up of AIM-listed healthcare news. Venture Life Group, GENinCode, Kromek, Alliance Pharma, Polarean Imaging, Benchmark Holdings, Ondine Biomedical, Verici Dx, Faron Pharmaceuticals, Avacta Group, Abingdon Health, Open Orphan, Belluscura, Hutchmed (China), Oxford Biodynamics

Cenkos: Healthcare Sector -- Ward Round

Weekly round-up of AIM-listed healthcare news. Agronomics, Eden Research, IXICO, HeiQ, Trellus Health, NetScientific, Circassia, 4basebio, Fusion Antibodies, Surgical Innovations Group, Yourgene Health, Abingdon Health, Verici Dx, Poolbeg Pharma, Omega Diagnostics

Cenkos: Healthcare Sector -- Ward Round

Weekly round-up of AIM-listed healthcare news. Intelligent Ultrasound, Inspiration Healthcare, Agronomics, CareTech Holdings, e-therapeutics, ABCAM, EKF Diagnostics, HUTCHMED (China), Benchmark Holdings, Totally, ImmuPharma, Open Orphan, Destiny Pharma, Polarean Imaging, Induction Healthcare.

Cenkos: Healthcare Sector -- Ward Round

IXICO, HeiQ, Creo Medical, GlaxoSmithKline, Totally, Advanced Oncotherapy, Arecor Therapeutics, Midatech Pharma, Futura Medical, Yourgene Health, Renalytix, Polarean Imaging, Diurnal, Novacyt, Faron Pharmaceuticals, Poolbeg Pharma, ANGLE

Cenkos: OptiBiotix Health Plc -- Trading update and listing

OptiBiotix recently announced a trading update for the 12-months to Dec-21 and its intention to list its ProBiotix Health division. The company expects revenues of £2.2m, in-line with our forecast, while operational investment suggests a group level EBITDA loss of c£0.9m, driven by one off recruitment and consultancy costs, versus our previous £0.3m loss forecast. Both divisions saw revenue and EBITDA (pre-central costs) growth during the year, building on the 2020 progress. Supporting future gr

Cenkos: OptiBiotix Health Plc -- CholBiome consumer study

OptiBiotix has carried out a consumer study in users of the company's probiotic, Lactobacillus plantarum (LPLDL) containing formulation, CholBiome. The findings of this consumer study support the human clinical study of LPLDL, published 18 January 2022, which demonstrated the statistically significant effect of LPLDL on reducing total cholesterol, LDL-cholesterol and APO-B. The survey found 96% of consumers reported reductions in total cholesterol (17% reported a >30% reduction) and 88% reported

Cenkos: OptiBiotix Health Plc -- Cholesterol lowering study

OptiBiotix has published a third human volunteer study on the cholesterol lowering effects of the company's proprietary probiotic Lactobacilus plantarum, branded as LPLDL. We believe the study clearly demonstrates the cholesterol lowering effect of LPLDL which we expect to support the on-going commercialisation of the probiotic. Key results were the statistically significant reduction in total cholesterol and LDL (bad) cholesterol of 34.2% and 28.4%, respectively over a six-week treatment period

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

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

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 - 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

Morning Note – 31 January 2023

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

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

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 - 19 Jan 23

19 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 - 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 - 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

Cenkos: RUA Life Sciences Plc -- Vascular graft distribution agreement

RUA Life Sciences has signed a global distribution agreement with Corcym, a medical device company focussed on treating heart conditions. The agreement will cover the distribution of RUA's large bore straight and aortic root grafts, for which RUA is currently working towards gaining FDA clearance. We expect RUA's grafts to be complementary to Corcym's existing product portfolio which is sold in over 100 countries. The agreement establishes global distribution for the vascular grafts and validate

Successful completion of POLB 001 LPS challenge trial

POLB announces today that it has now received the initial results having completed the Lipopolysaccharide (LPS) human challenge clinical trial for POLB 001, a viral strain agnostic, small molecule immunomodulator being developed to address the unmet medical need for severe influenza. Importantly POLB was safe and well tolerated and the team will be able to use this dataset as part of their discussions with potential partners at the annual JPMorgan Conference in January 2023. The full read out of

This Week's AIM Highlights 16th December 2022