Cenkos: IXICO Plc -- Return to growth

IXICO has provided a trading update confirming its FY23E revenue expectation of £7m and indicating it expects to achieve double-digit revenue growth in FY24E. We believe the impact of the historical trial cessations will wash out in FY23E, marking the nadir of this event, with a return to revenue growth for FY24E. Based on the diversified order book, we believe this revenue growth should be sustainable and resilient, forming the basis for a return to profitability. With this report we introduce

Cenkos: IXICO Plc -- Leqembi approval

On 6 January 2023, the FDA approved Biogen and Eisai's monoclonal antibody, lecanemab, under the accelerated approval process. The drug, to be marketed as Leqembi in the US, is indicated for the treatment of Alzheimer's disease. While not directly impacting IXICO, we believe this approval will add further momentum to the Alzheimer's disease clinical development market, which should benefit IXICO's growth in this therapy area in the mid- to long-term. IXICO is well established in the Alzheimer's

Hybridan Small Cap Feast 09/03/2022

December 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 objectiv

Hybridan Small Cap Feast 07/12/2022

Dish of the day Joiners: No joiners today. Leavers: Attraqt Group delists from AIM following their acquisition from Crownpeak Holdings LLC. What’s cooking in the IPO kitchen?** Savannah Energy, the AIM-quoted energy company is undergoing a reverse transaction in connection with the acquisition of Exxon Mobil Corporation's entire upstream and midstream asset portfolio in Chad and Cameroon. No capital to be raised on Admission. Anticipated market cap £300m. Expected admission date TBC. Celsius Res

Cenkos: IXICO Plc -- Precision in Neuroscience

IXICO has released results for the 12-months to September 2022, announcing revenues of £8.6m, gross margin of 61%, and EBITDA of £1.5m, in line with our forecasts. Cash at period end was £5.8m. IXICO's order book stood at £16.0m at the end of Sep-22, having signed £12.6m of new contracts through the year. We believe IXICO has successfully re-built its order book, and while the recent trial cessations will continue to impact in FY23E (forecasts maintained), we believe the company is in a strong p

Cenkos: IXICO Plc - CTAD meeting

The Clinical Trials on Alzheimer's Disease (CTAD) meeting will be held in San Francisco, between the 29th November and 2nd December. Following the FDA approval of Aduhelm (aducanumab) and the recent clinical data released for lecanemab, the Alzheimer's disease (AD) therapy area is becoming increasingly exciting. IXICO are firmly entrenched in supporting the development of new AD therapeutics and we believe the company's strong presence in this area will drive value in the company over a long-ter

Cenkos: IXICO Plc -- Year-end trading update

IXICO has provided a trading update for the 12-months ending September 2022. The company expects revenues of £8.6m for the period, slightly ahead of our forecasts £8.5m. EBITDA is expected to be in-line at £1.5m and cash at the year-end was a strong £5.8m. IXICO remains debt free. IXICO signed £12.6m of new contracts through the year reflecting the rebuilding of the company's client base and reducing the reliance on any one, single client trial. We are leaving our forecasts unchanged at this tim

Cenkos: IXICO Plc - Trading and guidance update

IXICO has provided a trading update for the year to September 2022 alongside guidance for FY22 and FY23. The company expects FY22E EBITDA to comfortably exceed our £1.2m estimate. The impact of previously announced trial cessations, which IXICO has highlighted would particularly impact FY23E, results in FY23 revenues expected to be c£7m (-17.5% YoY), while in our FY23 forecasts, we expect a gross margin which reflects a revenue mix shift to earlier phase projects. We believe IXICO has made stron

Hybridan Small Cap Feast 04/08/2022

Dish of the day Joiners: No joiners today. Leavers: Cambium Global Timberland has left AIM. What’s cooking in the IPO kitchen?** Inteliqo Limited, intends to join the Aquis Growth Market. Inteliqo Limited provides sales, marketing and distribution services to technology product owners under long-term distribution agreements. The Company has agreed its first such agreement in respect of the Ipedia iQ product range. The iQ product is a smart translation earphone (earbuds) system which offers integ

Hybridan Small Cap Feast 21-07-2022

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen? Unigel Group, intends to join the Aquis Growth Market. Unigel Group is a pioneer in the field of thixotropic gels for the fibre optic cable industry. The Company is also a supplier of laminated steel tapes to the fibre optic cable industry in the US. Thixotropic gels and laminated steel tapes are essential components to the rapidly growing global fibre optic cable market. The Group export

Hybridan Small Cap Feast 14/06/2022

Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen? LifeSafe Holdings, a fire safety technology business with innovative fire safety products, intends to join AIM. LifeSafe has developed what the Directors believe to be market disrupting, eco-friendly fire safety protection products to both protect (via fire extinguishers) and detect (via carbon monoxide, smoke and heat alarms) fires. At the centre of the Group's product range is the FER1000 e

Cenkos: IXICO Plc - Interim results: Profit upgrade

IXICO has reported six-month results to March-22, in-line with the recent trading update, with revenues of £3.9m, EBITDA of £0.5m and closing cash of £5.8m. The company expects to ‘materially exceed' our previous EBITDA forecast of £0.6m, anticipating FY22 EBITDA of more than £1.2m; we have upgraded our forecasts into line with this new target. As previously discussed, trial cessations will continue to impact into FY23E, resulting in weaker revenues and short-term EBITDA losses, however we belie

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.

LIBERUM: hVIVO plc* - Update exceeds expectations

Climbing

QuotedData’s Real Estate Monthly Roundup – January 2023

Performance - 2022 ended with another difficult month for property companies as the sector continues to get to grips with the impact of higher interest rates. There were several funds that performed well during December, however, with secondary shopping centre landlord Capital & Regional top of the pile. For a second month on the trot Home REIT saw its share price tank after it came under attack from a short seller in November. Valuation moves - It was a mixed bag for valuations, with six-month

This Week's AIM Highlights 20th January 2023

SHORE CAPITAL - Begbies Traynor Group+ (BEG) - House Stock, 144p - NED appointment & insolvency volumes

FY22 update – Performance in-line & board changes

RBGP has published its FY22 pre-close trading update this morning. Unaudited FY22 revenue, adj. EBITDA and adj. operating profit are expected to be in-line with our estimates. Professional Services, saw good performances across both, the legal services and sell-side corporate finance offering. Whilst there is no resolution on decreasing exposure to LionFish, the Group is encouraged by accelerating developments. RBGP also announced a number of changes to the board, with Nicola Foulston, CEO, havi

Morning Note – 6 February 2023

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

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

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

Major contract award

The Group has announced that Chesterfield Special Cylinders (‘CSC’) has been awarded an £18.2m contract which we believe to be for the supply of air pressure vessels for the Royal Navy’s third and fourth boats in the Dreadnought-class nuclear submarine programme. Management had expected BAE Systems to place an order for the third boat at the start of this calendar quarter and today’s announcement underpins current market expectations with delivery anticipated over the next 3 years and reinforces

hVIVO - Trading update – a strong H2 that market was waiting to see

hVIVO issued a positive trading update for FY 2022, citing revenues (including other income) of £50.6m, which was above its previous guidance of £50m and FC’s revenue forecast of £49.1m, EBITDA margins not less than 17% and period-end cash of £28.4m (FC £22.8m est). Whilst this performance was positively affected by the recognition of postponement and cancellations fees amounting to c.£1m, underlying EBITDA was c.£7.6m (9% above FC £7.0m est) implying margins were c.15%, towards the top end of i

SHORE CAPITAL - Inspired - FY Trading In-Line, Optimisation Leads

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