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  • 02 Dec 19
SP Angel Healthcare Conditions

Creo Medical Group plc (CREO.L): Fundraising of over £43.0m | Fusion Antibodies (FAB.L): Half year results | Diurnal Group plc (DNL.L): Alkindi New Drug Application Submitted to FDA | Yourgene Health (YGEN.L): Results for the 6-months ended 30 September 2019

Companies: CREO FAB DNL YGEN

  • 26 Nov 19
Successful DITEST Phase I trial outcome

Diurnal (DNL) is a commercial-stage specialty pharmaceutical company focused on diseases of the endocrine system. Its two lead products, Alkindi and Chronocort, are in late-stage clinical trials, with Alkindi already licensed in Europe. With the successful outcome of the Phase I trial with DITEST, an oral testosterone replacement formulation, DNL is building on its vision of becoming a leading speciality endocrinology company. The study showed that DITEST was safe, well tolerated and well absorbed in men affected by hypogonadism. DNL will engage with the regulators for the next trial stage, which is likely to be run with a partner.

Companies: Diurnal Group
  • 22 Nov 19
Small Cap Feast

The FT reports that World Chess has announced plans for a novel “hybrid” IPO where it will first issue a digital token ahead of an AIM float The Pebble Group, a provider of products, services and technology to the global promotional products industry, announces its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange, which is expected to take place in early December 2019.The Group delivered revenue of £99.8m in the year ended 31 December 2018.No mention of bottom line and a suggestion that funds raised would provide an exit to private equity shareholders and the repayment of debt. Offer TBA. Longboat Energy raising £10m. Expected admission November 2019. The company has been established by the former management team of Faroe Petroleum to create a new full-cycle North Sea oil and gas company .The strategy to achieve this will initially be through the acquisition of assets where the management team can add value through subsurface and operational improvements, follow-up deal opportunities and nearfield exploration; and by value creation through the drill bit. Sapo PLC - Seeks to invest in the developing market for rural broadband in the UK. Due 2 Dec. Taseko Mines - North American focused copper producer and developer, seeking a London Listing. No capital raise. Due 22 Dec SDIC Power - “potential intention to float”. Proposed GDR listing. Leading power generation company in China, with a diversified portfolio of projects across hydropower, coal-fired power, wind power and solar power. Offer TBA. Octopus Renewables - Seeking raise of up to £250m. Will seek to provide investors with an attractive and sustainable level of income returns, with an element of capital growth by investing in a geographically and technologically diversified spread of renewable energy assets—Due 10 Dec

Companies: BRK DNL POS YEW SML AAU KCT LVCG CCS HAYD

  • 20 Nov 19
Small Cap Feast

The Pebble Group, a provider of products, services and technology to the global promotional products industry, announces its intention to seek admission of its shares to trading on the AIM market of the London Stock Exchange, which is expected to take place in early December 2019.The Group delivered revenue of £99.8m in the year ended 31 December 2018.No mention of bottom line and a suggestion that funds raised would provide an exit to private equity shareholders and the repayment of debt. Offer TBA. Longboat Energy raising £10m. Expected admission November 2019. The company has been established by the former management team of Faroe Petroleum to create a new full-cycle North Sea oil and gas company .The strategy to achieve this will initially be through the acquisition of assets where the management team can add value through subsurface and operational improvements, follow-up deal opportunities and nearfield exploration; and by value creation through the drill bit.

Companies: FOG TPFG DNL FIF BREE GRL AVO INFA EMH

  • 05 Nov 19
Approaching a number of near-term milestones

Diurnal (DNL) is a commercial-stage specialty pharmaceutical company focused on diseases of the endocrine system. Its two lead products are targeting rare conditions where medical need is currently unmet, with the aim of building a long-term ‘Adrenal Franchise’. The first product, Alkindi®, is being rolled out through key EU markets, and sales have exceeded the £1.0m mark. Despite unexpected Phase III results, positive feedback from the EMA has cleared the path for regulatory submission of Chronocort for adult CAH in Europe before the end of 2019. It has also allowed DNL to revise the primary endpoint in the protocol for the US Chronocort Phase III trial.

Companies: Diurnal Group
  • 04 Nov 19
THE MONTHLY November 2019

The trade-off in the risk/reward for gold and gold mining equities is improving, as central banks push the current iteration of the post-World War II Bretton Woods financial order towards its limits.

Companies: AVO AJB AGY ARBB BUR CLIG DNL DPP FLTA GTLY GDR MCL MUR NSF PCA PIN ESRE PHP RE/ RECI RMDL STX SCE TON SHED VTA W7L

  • 03 Oct 19
THE MONTHLY October 2019

Since their privatisation in 1989, the 10 water companies have faced a periodic review every five years; it is undertaken by Ofwat, and prescribes customer prices, along with the investment requirements. As part of the ongoing review, PR19, Ofwat will publish its Final Determination numbers on 11 December 2019; they will apply as from April 2020, although water companies do have the option to seek a reference to the CMA.

Companies: AJB AGY ARBB CLIG DNL DPP FLTA GTLY GDR KOOV MCL MUR NSF PCA PIN PHP RE/ RECI RMDL STX SCE SIXH TON SHED VTA W7L

  • 26 Sep 19
Well on the way to becoming a major player in endocrine diseases

Diurnal is a rare breed amongst British smaller companies in the life sciences sector, and indeed globally, in that within a little over two years since listing it has achieved commercialisation in Europe of an authorised medicine for a rare paediatric condition. From within its rich pipeline of endocrine focussed candidates, Diurnal has also completed a pivotal Phase 3 study in another late stage candidate with a regulatory pathway defined suggesting that a second product could be generating revenues by the end of 2021. The Company this week reported FY June 2019 results ahead of expectations.

Companies: Diurnal Group
  • 24 Sep 19
Small Cap Feast

AMRYT PHARMA PLC— a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases have raised $60m before expenses and will relist on the AIM Market on the 25/09/2019

Companies: DNL MTPH SYM ANCR SLN MOSB ALM GTC JTWO WKP

  • 03 Sep 19
THE MONTHLY September 2019

The challenges associated with value creation drive all investors. Any investment professional is eager to make their mark by picking organisations that are able to deliver superior returns. Increasingly investors look into how organisations are governed and how effective the top decision-making bodies of organisations really are. In this white paper, we shed light on research findings and reveal the seven hallmarks of effective boards. The seven hallmarks are proven to create more effective boards and are set to be the next lever in the value creation process. Better Boards has created advanced board evaluation tools designed to motivate and inspire and above all, contribute to superior value creation.

Companies: AVO AJB AGY CLIG DNL DPP FLTA GTLY GDR KOOV MUR NSF OXB PCA PHP RE/ RMDL STX SCE TRX TON SHED VTA W7L

  • 01 Aug 19
THE MONTHLY August 2019

The introduction of IFRS 2 in 2004 generated considerable debate about the best approach for handling ‘share-based payments’ (SBP). While it is clearly a cost to shareholders, which should be included in the statutory reporting lines through the P&L account, the question arose as to whetherit should be part of our underlying EBIT calculation.

Companies: AVO AJB AGY ARBB CLIG DNL DPP FLTA GTLY GDR KOOV MCL MUR NSF OXB PCA PHP RE/ REDX RMDL STX SCE TRX TON SHED VAL VTA W7L

  • 02 Jul 19
THE MONTHLY July 2019

When advisers first start looking at business relief (BR) products, there is much to take in: the rules governing such products; the investment strategies being used; and what the investment risk is. It is easy to lose sight of the fact that, for non-AIM products, the investment is being made directly into a company or partnership, rather than a fund. It is, therefore, essential that governance is part of the diligence process.

Companies: AVO AJB AGY ARBB CLIG DNL DPP FLTA GTLY KOOV LWRF MCL MUR NSF OXB PCA PHP RE/ REDX RMDL STX SIXH TRX TON SHED VAL VTA W7L

  • 04 Jun 19
THE MONTHLY June 2019


Companies: AZN AVO AJB AGY ARBB CLIG DNL DPP FLTA GTLY GDR HAYD KOOV MCL MUR PCA PHP RE/ REDX STX SIXH TON SHED VAL VTA W7L

  • 25 Apr 19
Clarity for Chronocort regulatory pathway

Diurnal (DNL) is a commercial-stage specialty pharmaceutical company focused on diseases of the endocrine system. Its two lead products are targeting rare conditions where medical need is currently unmet, with the aim of building a long-term ‘Adrenal Franchise’. The first product, Alkindi®, is being launched in key EU markets, and this was expected to be followed by the adult version, Chronocort®. After unexpected Phase III results, positive feedback from the EMA has cleared the path for regulatory submission of Chronocort for adult CAH in Europe before the end of 2019, and allowed DNL to revise the primary endpoint in the protocol for the US Phase III trial.

Companies: Diurnal Group
  • 24 Apr 19
Small Cap Feast

Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Loungers plc—the operator of 146 café/bar/restaurants across England and Wales under the Lounge and Cosy Club brands, announces its intention to seek admission on AIM, offer to raise £61.6m at 200p with market cap of £185m, expected 29 April 2019. SDX Energy plc—a North Africa focused oil and gas company, announces its intention to complete a Canadian plan of arrangement under section 192 of the Canada Business Corporations Act and will have shares de-listed from the TSX-V and admitted to trading on AIM. Expected 28 May 2019, anticipated market cap of £76m Renold plc—a leading international supplier of industrial chains and related power transmission products, announced that it will cancel the listing of the Company from the premium segment and apply for admission on AIM. Expected 06 June 2019. Distribution Finance Capital Holdings plc — specialist lender which builds relationships with manufacturers and then provides working capital solutions up and down their supply chains to drive their growth is looking to join AIM. No raise, secondary offering of £19.8m at 90p, expected market cap of £95.98m. Expected 09 May 2019.

Companies: BXP MTL SYS DNL IXI PTR BIOM STX RTC TRAF

Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Diurnal Group. We currently have 67 research reports from 4 professional analysts.

Open
N/A
Range Today
N/A
52 Week
21.3/46.1p
Daily Volume
N/A
# Shares
86.5m
Daily Liquidity
(0.01%)
Pension Liability
£0m
Enterprise Value
£15.9m
Market Cap
£25.5m
Latest PE (hist)
Div Yield

Latest News/RNS

(more news)
Date Source Announcement
02Dec19 14:28 RNS Share Option Exercise and Issue of Equity
02Dec19 07:01 RNS Holding(s) in Company
02Dec19 07:00 RNS Alkindi New Drug Application Submitted to US FDA
26Nov19 10:42 RNS Director Dealings and Issue of Equity
26Nov19 07:15 EQS Hardman & Co Research: Diurnal (DNL): Successful DITEST Phase I trial outcome
21Nov19 13:08 RNS Results of Annual General Meeting
21Nov19 07:00 RNS AGM Statement
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  • 10 Dec 19
Are these unprecedented results a major opportunity?

Futura Medical has reported the results of the pivotal Phase III study (FM57) for its lead compound, MED2005. Whilst all doses achieved all primary endpoints against baseline (p<0.001) at 12 weeks, there was no differentiation between any active arms and placebo. The placebo arm consisted of the DermaSys formulation and these results suggest that this proprietary gel has an effect comparable to the active arms at all three glyceryl trinitrate doses (0.2%, 0.4%, and 0.6%). This data is clinically relevant and suggests that DermaSys alone may be effective in treating Erectile Dysfunction (ED). Clearly the data needs to be digested before licensing discussions with possible partners continue. Equally, the commercial opportunity, especially the OTC potential, will need to be assessed. Until we have greater visibility, we suspend our valuation and forecasts; for context our model valued Futura Medical at £127m (62p a share).

Companies: Futura Medical
  • 11 Dec 19
On the road towards mainstream adoption

Rarely has Britain ever invented such world-beating technology as that developed by Kromek. Indeed its next generation radiation detectors are disrupting 3 major verticals - Medical Imaging (eg BMD & SPECT), Nuclear Detection (D3S) and Security Screening (Airport baggage/bottles) – each worth >$100m pa.

Companies: Kromek Group
  • 10 Dec 19
LIBERUM: Futura Medical* - Unexpected P3 result means shift in strategy but potential approval timelines likely unchanged

Futura announced P3 results from its FM57 study testing MED2005 in 3 doses (0.2%, 0.4% and 0.6%). None of the doses showed superiority in improving erectile dysfunction outcomes vs. placebo.

Companies: Futura Medical
  • 11 Dec 19
Cenkos: Kromek Group Plc -- Major increase in output expected

Recent investment in capital equipment has increased Kromek's CZT production capability seven-fold. Contracted medical imaging output will ramp up in H2E and revenue visibility for FY20E stands at over 90%. Kromek is on track for organic growth of +27% this year. We adjust our working capital assumptions to reflect a slightly slower cash recovery but momentum in the business and all time low share price support a Buy.

Companies: Kromek Group
  • 11 Dec 19
Remarkable data from pivotal trial opens new possibilities

Futura Medical has presented details of the pivotal Phase III study (FM57) results for its lead compound, MED2005. All doses achieved all primary endpoints against baseline (p<0.001) throughout the 12-week period, with secondary endpoints also being met. However, the placebo arm, consisting of the DermaSys formulation alone, achieved similarly impressive results. Dose-dependent variation in side-effects should allay fears that administration errors may be to blame. These data suggest that the DermaSys gel alone has a significant clinical effect across the three severities of ED (Erectile Dysfunction) examined. Clearly the data needs to be digested, but this would appear to open up new opportunities, especially in terms of regulatory pathways, patent life, and commercial potential. Until we have greater visibility, we suspend our valuation and forecasts; for context we valued Futura Medical at £127m (62p a share).

Companies: Futura Medical
  • 09 Dec 19
ImmuPharma Quick Reference Sheet following new Lupuzor licence

Following the recent announcement that Avion Pharmaceuticals has entered into a licence to pay up to $25m to develop (through the second phase III trial) and commercialise its major drug Lupuzor ™, ImmuPharma presents a very different opportunity compared to even a few weeks ago.

Companies: ImmuPharma
  • 09 Dec 19
Encouragement from interims

After a momentous year for ReNeuron catalysed by the clinical results from their hRPC program for retinitis pigmentosa (RP), the H1’20 financial results brought the year to a positive close. A strong cash position enables the expansion of both of its clinical programs and notably the scale of the hRPC program has been expanded in order to accelerate the product’s regulatory approval. Further clinical data on the hRPC program is expected in 2020 before the first pivotal study on the CTX program in chronic stroke reads-out in H1’21.

Companies: Reneuron Group
  • 21 Oct 19
Quarterly Research Outlook Autumn 2019

Following continued delays of a Brexit agreement, few sectors within the UK market have remained attractive to investors despite low valuations. One sector which has continued to outperform despite the political drama has been the UK video gaming sector (henceforth UK gaming), which we are fans of. We believe a combination of sector-leading growth, strong cash conversion and timely cyclical positioning support our positive view on the UK video gaming sector.

Companies: ABBY AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CDM CSRT TIDE CYAN DTG DEMG ELM EMR FPO FDEV GTLY GENL GHH GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR IBPO IOG INDI JHD JOG KAPE KEYS KWS KCT KGH LAM LIT LOK MACF MANO MOD OXIG PCA PANR APP ESRE PHC PMO RBW RMM RBGP REDD RSW RNO ROR SUS SCPA SEN SHG SOLG SOM SUMO TM17 INCE TWD TRAK TRI VNET VTC ZOO ZTF

  • 09 Dec 19
SP Angel Healthcare Conditions

Open Orphan (ORPH.L): All-share offer for hVIVO

Companies: Open Orphan
  • 04 Dec 19
Cenkos: IXICO Plc -- Revenues growing and profitable

IXICO has reported a strong financial performance for FY19A built on continued commercial focus and a strengthened organisation. Revenues of £7.6m were up 40% and gross margin was up 600bps versus FY18A and the company delivered its first year of profitability since IPO. EBITDA of £0.5m was strongly ahead of our forecast (+£0.1m) and delivered an EBITDA margin of 6%. We have maintained our revenue growth expectations of 20% for FY20E and FY21E but have upgraded our profit expectations given the strong reported performance. We maintain our Buy recommendation.

Companies: IXICO
  • 06 Dec 19
H1 results: adjustments to clinical programmes

ReNeuron has announced its H1 2020 results; financials are slightly ahead of our expectations related to the identified slower recruitment of the Phase III PISCES trial. ReNeuron has made a number of positive clinical trial protocol changes to both the CTX and hRPC programmes to boost enrolment and accelerate clinical development, respectively, and we have included these changes into our forecasts.

Companies: Reneuron Group
  • 28 Jan 19
Small Cap Feast

Techniplas –global producer and support services company providing highly engineered and technically complex components, making the supply chain to original equipment manufacturers more efficient. FYDec17 rev $515m. Circassia Pharma (CIR.L) - specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected late January 2019. Chaarat Gold Holdings—RTO, the Company intends to acquire Kapan Mining and Processing CJSC, which owns the Shahumyan medium-sized polymetallic mine in Kapan in the Republic of Armenia. No raise, market cap of £110.1m, due early Feb

Companies: TENG DEST KMK PCA ABC EUA NUC AVCT SBIZ RBD

  • 06 Nov 19
Encouraging preliminary Phase I/II data in first of kind oncology study

Today 4D Pharma has released encouraging preliminary safety and clinical observation data from its Phase I/II study of MRx0518 in combination with Keytruda® in patients with advanced and progressive malignancies. Initial data shows the therapy combination was well-tolerated producing no drug-related serious adverse events, and that early clinical observations show that two patients demonstrated a partial response and a third patient presented stable disease - a significant feature given the advanced stage of the disease. Efficacy data is clearly preliminary, in a small patient cohort, and the sustainability of the response unproven; however, to our knowledge, this is the first of its kind clinical data to be reported on any LBP product from an oncology study. This highlights the significant scientific advancements the Group is making as a first-mover in the oncology field, and collectively the announcement raises credibility of using the LBP therapy approach in oncology. We continue to believe that a comprehensive data package on MRx0518 across multiple oncology indications is highly attractive offering opportunities for value creation.

Companies: 4D Pharma
  • 19 Nov 19
Now the dust has settled

ReNeuron’s clinical data presentation at last month’s American Academy of Ophthalmology (AAO) meeting was met with some stock price weakness. The first 8 out of a total of 22 patients in the Phase I/IIa study included a 180-day update on the three patients initially reported in February where startling vision gains were reported. The first 12 patients in the Phase I study portion will now be followed for safety only. Two recently-dosed patients experienced some procedure-related vision loss. The results to date remain encouraging, while reminding us how early on the learning curve this technology is.

Companies: Reneuron Group
  • 26 Nov 19
Sports medicine leads a good Q3 showing

Smith & Nephew reported Q3 19 top-line growth of 4% on an underlying basis – driven by Sports Medicine Joint Repair (+12.2%), Advanced Wound Devices (+15.4%), Knee Implants (+4.6%) and ENT (+5.3%). This was partly offset by a decline in Advanced Wound care (-1.8%). Management upgraded FY 19 revenue expectations to 3.5-4.5% (vs 3-4% earlier), while lowering the trading margin expectation to 22.8% (vs 22.8-23.2%). Following the good Q3, we will be raising our estimates and target price.

Companies: Smith & Nephew