Banquet Buffet Bivictrix 26.5p £17.5m (BVX.L) BiVictriX Therapeutics, an emerging biotechnology company applying a novel approach to develop next generation cancer therapies using insights derived from frontline clinical experience announced a collaboration to manufacture BiVictriX's antibody-drug conjugates with Abzena Limited, a partner research organisation for integrated discovery to cGMP manufacturing solutions for biologics. The collaboration will allow BiVictriX to cost-effectively manuf
Companies: CHRT CSSG CCS CYAN FIH MIRI YGEN
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
Yourgene’s AGM statement points to a strong first half performance, with revenues expected to exceed £15m in the period. Momentum is accelerating in both the Genomics Services and Genomics Technologies business segments. This has been further bolstered by the recent award of a Covid-19 surge testing contract with the DHSC and the re-opening of travel between the UK and the US. We make no changes to our forecasts at this stage – while activity levels are ramping up strongly, visibility remains so
Joiners No joiners today. Leavers No leavers today. What’s cooking in the IPO kitchen? Petershill Partners, Expected Intention to Float on the London Stock Exchange. Petershill Partners, a leading investment group providing bespoke capital and strategic solutions to some of the world's best performing alternative asset management firms. Petershill Partners today comprises minority investments in 19 high-quality Partner-firms, previously held in private funds managed by Goldman Sachs Asset M
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Yourgene has made a strong start to FY22, benefitting from the investments made in FY21. Q1 revenues are up 80% to >£6.0m, a record performance, driven by a return of the core business (+30%) and renewed momentum around Covid-19 testing. Delays to mobilising new clients are easing and Yourgene has signed a number of notable contracts in recent months with blue chip partners. These should contribute materially in time, providing a strong underpinning for a multi-year growth story. We leave our fo
In an encouraging sign of building US momentum, Yourgene has announced it has signed a multi-year licence and supply agreement with a major US precision medicine company to enable it to offer a new reproductive health screening service from its own laboratories. The agreement encompasses a non-exclusive licence to Yourgene’s proprietary bioinformatics Flex analysis software and a supply agreement for sample preparation reagents and instrumentation. Notably, this includes the Ranger sample enrich
What’s cooking in the IPO kitchen? Baltic Classifieds Group PLC, the leading online classifieds group in the Baltics, announced their intention to IPO and the intended publication of a registration document. Should BCG proceed with the IPO, the Company will apply for admission of its entire issued Ordinary Share Capital to the Premium Listing Segment of the LSE. The UK Residential REIT, a proposed closed-ended real estate investment trust established to invest in a diversified portfolio of aff
Companies: ANX BLTG CLIN DEV KRS RBBS SDG SEE TOT YGEN
FY21 revenues at £18.3m were in line with the guidance issued at the trading statement in February of £18-20m and represent growth of 10% YoY, despite the impact of the pandemic on core testing revenues. £3.2m of revenues derived from Covid-19 testing, providing a useful hedge against those pandemic-related headwinds, and Yourgene is broadening its routes to market, with a number of partners and frameworks signed in recent weeks. The new year looks to have started positively, with delays in cont
Parsley Box, the direct to consumer provider of ready meals to the 60+ demographic, recently announced its AIM IPO plans. Parsley Box provides ready meals, which are not required to be stored in a fridge or freezer, have a shelf life of up to six months and are cooked in minutes. The company reported revenue of £24.4m for the financial year ended 31 December 2020 (unaudited). Deal details TBC and admission is expected to occur late March/ early April 2021. ActiveOps, a UK-based leader in Man
Companies: RRR CMET TOU YGEN TSG PFP AMTEX IOM JNEO BRD
In a notable milestone, Yourgene has signed up its first US customer for the Coastal Genomics technology. Whilst “only” worth a minimum of $1.5m over five years, the agreement is important for a number of reasons: i) it validates the commercial potential of the Coastal technology; ii) it adds to Yourgene’s growing presence in the important US market; and iii) it is with a large clinical laboratory group, initially in reproductive health, but with scope to be expanded into other applications in d
Whilst H2 is showing strong momentum, recent further lockdowns and travel restrictions have hindered Yourgene’s ability to mobilise new contract wins, especially outside Europe. As a result, FY21 revenues are expected to be in the range £18-20m, still showing double-digit growth, but behind previous expectations. Strategic momentum remains positive, with a number of initiatives expected to contribute materially to future period revenues, including new US customers for both NIPT and Coastal Genom
Cellular Goods a UK-based provider of premium consumer products based on biosynthetic cannabinoids announced its intention to join the main market (standard) this spring. Target valuation £20m raising c. £8m “to finalise the development and launch of a range of the Company's premium-quality consumer products based on biosynthetic cannabinoids, which is fully compliant under UK law.” Kanabo Group (RTO by Spinnaker Opportunities SOP.L) on the main market (standard). Raising £6m, enlarged mkt cap £
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Research Tree provides access to ongoing research coverage, media content and regulatory news on Yourgene Health Plc. We currently have 245 research reports from 8 professional analysts.
Today’s update reveals many of the challenges flagged in September have persisted. Alongside rising input/logistics costs, and volatile customer ordering, revenue guidance has been reduced by 10%. We have rippled a similar reduction through to FY22, leading to EPS downgrades of 27% this year and 38% next year. The company continues to look to 2022 with confidence, and maintains its medium term ambitions for profitable expansion.
Companies: Venture Life Group Plc
Joiners No joiners today Leavers No leavers today What’s cooking in the IPO kitchen? Trinistar Liverpool S.a r.L announces its potential listing of a newly formed single asset company which will own the Capital Building in Liverpool on the IPSX. Upon admission the Company would become a real estate investment trust (REIT). The Capital Building occupies close to a 3.5 acre freehold site in the centre of Liverpool’s business district; the building comprises c425,000 square feet of predominantly of
Companies: ADBE ADBE SYM ARC AVCT CMCL CLIN DCTA FRAN OSI
Venture Life Group has provided a trading update and details of changes to the company's board. While the recent acquisitions are integrating as planned, COVID-related challenges have persisted including pricing pressure, freight charges and Chinese sales. The company now expects FY21E revenues to be not less than £32m and we have moved our forecasts in-line with this guidance. Venture Life has also announced Dr Drummond and Mr Waters, Chair and CFO, respectively, will retire from the board and
SDI reported a strong set of interim results to 31 October that were in line with its trading update of 4 November, reporting an 89% increase in adjusted pre-tax profit, driven by 75% revenue growth. Organic growth of 42% benefited from peak shipments under the Atik OEM contract, expected to be completed by January, without which underlying business growth was still an impressive 24%. We leave our forecasts unchanged for now, but consider the prospect of upward revisions based on trading and acq
Companies: SDI Group plc
A very positive trading update from SDI Group justifies upgrading FY 2022 sales by 7% (£2.8m) to c.£45m. Part of this can be explained by a stronger-than-expected performance from Monmouth Scientific (acquired in H2 FY 2021) and slightly higher Atik sales, but the majority is attributable to strong growth across its broader business portfolio, with sales in these businesses estimated to have risen c.16% in H1, supporting earlier comments that order patterns were returning towards pre-pandemic no
SkinBioTherapeutics has released its FY21A results for the 12-months to June 21. Calendar 21 has been a landmark year for SkinBioTherapeutics, capped by the launch of the company's first product, AxisBiotix-Ps in October. For FY21A, the pre-tax loss was c£1.5m versus our forecast loss of c£2.4m, which along with lower CAPEX, resulted in a stronger year-end cash balance of £4.6m than we had forecast. We believe the development of the two lead commercial pillars, SkinBiotix and AxisBiotix, is prog
Companies: SkinBioTherapeutics Plc
OptiBiotix has announced the launch of a new sports nutrition product range, LeanBiome, which has been licensed to a leading global player in the beauty & nutrition market. The partner's new product line, containing LeanBiome, is scheduled to be rolled out from January 2022 in Europe and Asia and could be introduced in North America in due course. First orders worth £200k have been placed and the agreement is expected to generate a minimum of £1m in annualised recurring revenues to OptiBiotix. T
Companies: OptiBiotix Health PLC
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
Companies: Oncimmune Holdings Plc
IXICO has reported results for the 12-months to September 2021. In-line with its recent trading update, revenues were £9.2m while EBITDA was £1.7m, £0.1m ahead of our £1.6m estimate. We see these as strong results in a year impacted by the pandemic and Huntington's Disease (HD) trials de-scopes. The company ended FY21 with a strong order book (£18.8m), cash position of £6.7m and increased net assets of £11.2m. We are leaving our FY22E forecasts unchanged, which, following the announced trial hal
Companies: IXICO Plc
Companies: PureTech Health PLC
CareTech is a specialist social care and educational services provider. This morning, the group has released full year results to 30 September, very much in line with October's year-end update and illustrating a highly creditable performance in what has been a very challenging market backdrop for care operators brought about by the pandemic. Strong cash generation in the year reduced the net debt to EBITDA ratio to 2.7x, while the upward valuation of the group's freehold and long leasehold prope
Companies: CareTech Holdings PLC
Companies: Medica Group Plc
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
Joiners No joiners today. Leavers No leavers today What’s cooking in the IPO kitchen? Katoro Gold plc (AIM: KAT), the AIM listed gold and nickel exploration and development company, announced that the Company and Target Mine Consulting (Pty) Ltd have agreed to seek admission for 100% of the Blyvoor Joint Venture project (BV) by vending each of their separate interests into a new company to be listed on the Standard List of the London Stock Exchange. Katoro will look to recover its total cash exp
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*A corporate client of Hybridan LLP Joiners Hostmore plc (MORE.L) has demerged from Electra Private Equity PLC, and the shares admitted to the Premium Segment of the Main Market.. Hostmore is a growing hospitality business with its current operations focused on the American-themed casual dining brand, Fridays, and the cocktail-led bar and restaurant brand, 63rd+1st. Leavers No leavers today. What’s cooking in the IPO kitchen? Ashtead Tech, subsea equipment rental and solutions provider for the g
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