Hybridan Small Cap Feast - 21 Sep 23

21st September 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 ob

Hybridan Small Cap Feast - 20 Sep 23

20th September 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 ob

Auctus on Friday - 08/09/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C: target price of A$0.08 per share: Transaction with MND receives Austrian Ministerial acceptance – ADX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources. This was a key condition precedent to completing the transaction. The transaction will provide funding for the drilling of key wells at Anshof that are expected to add reserves an

Hybridan Small Cap Feast - 05 Sep 23

5th September 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 obj

Hybridan Small Cap Feast - 04 Sep 23

4th September 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 obj

Hybridan Small Cap Feast 11/08/2023

Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Announced ITF 4 August: Tan Delta Systems plc, a Sheffield based Company intends to IPO on AIM. Tan Delta has developed an innovative and differentiated monitoring solution based on real time oil analysis and analytics that offers equipment operators enhanced insight into the maintenance status of their equipment and thus the ability to reduce maintenance costs, improve reliability and reduce carbon footpr

Hardman & Co Insight: UK interest rates and “risk-free” gilts at their peak? Infrastructure stocks struggle

The share price performances of the nine Infrastructure Investment Companies (IICs) and of the 22 Renewable Energy Infrastructure Funds (REIFs) have been dire over the past year. Undoubtedly, the sharp rise in interest rates has presented the sector with serious challenges, especially since the yield on “risk-free” 10-year gilts has risen appreciably. Furthermore, the ongoing war in Ukraine and high inflation rates, from which many IICs and REIFs are partially ‒ if not wholly ‒ protected, contin

Hybridan Small Cap Feast 09/08/2023

9th August 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

Movers & Shakers: Pharma & Biotech

In the July edition of Movers & Shakers, we highlight six stocks that experienced significant share price moves through the month, as important news flow came through.

IIR LMI Monthly Update

The IIR LMI Monthly Report provides key LMI market news for the month of July as well as IIR research updates and key data points as at 30 June 2023.

The Hardman & Co Monthly: August 2023

Feature article: UK interest rates and “risk-free” gilts at their peak? Infrastructure stocks struggle Executive summary Infrastructure/Renewable Energy Funds ► The share price performances of the nine Infrastructure Investment Companies (IICs) and of the 22 Renewable Energy Infrastructure Funds (REIFs) have been dire over the past year. Undoubtedly, the sharp rise in interest rates has presented the sector with serious challenges, especially since the yield on “risk-free” 10-year gilts has r

Mining Monthly: July Edition

What you need to know: • The precious metals markets rebounded well in July following a healthy consolidation period in May and June. • M&A continued to be light in July, primarily due to the new uncertainty regarding interest rates following strong economic data and the BoC and the Fed raising rates. • Safe-haven assets like gold and silver continue to look highly attractive with mining equities trading close to trough multiples, creating buying opportunities for when investment dollars flow ba

Hybridan Small Cap Feast 01-08-2023

Joiners: No joiners today. Leavers: Cineworld Group (CINE.L) has left the Premium Segment of the Main Market. What’s cooking in the IPO kitchen?** Announced ITF 12 July: Substrate Artificial Intelligence, an artificial intelligence company based in Spain that creates, buys and scales companies around AI in diverse sectors such as fintech, agritech, energy, human resources, and health, intends to join the Access Segment of the AQSE Growth Market. Announced ITF 6 July: Blackpoint Biotech plc, a me

Movers & Shaker: Pharma & Biotech

There were more negative performers than positive performers during the month of June in the Australian pharmaceuticals and biotech market, however there were still a number of companies that experienced significant share price movements. Below we take a look at a selection of companies, some that rallied strongly, while others experienced extreme volatility as news flow sent some stocks on the biotech roller coaster ride.

Hybridan Small Cap Feast - 20 Jun 23

20th June 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 objecti

LIBERUM: Aptamer* - Prelims supports growth projections

LIBERUM: Aptamer* - Initiation - Build better binders

LIBERUM: Futura Medical: The Futura's coming

Update on Life Sciences expansion

Despite continued strong revenue growth from the existing Point-of-Care and Life Sciences activities, it is now apparent the new capacity expansion programme for enzymes fermentation will not contribute to revenues this year. As a result, management is now guiding to FY23 group revenues of ~£53m and Adj EBITDA of ~£10m, both around £4m lower than previous expectations. We update our forecasts accordingly and expect more information around the shape of the revenue ramp up in FY24 at the upcoming

Destiny Pharma plc+ (DEST, House Stock at 57p) - Primed to go

Shield Therapeutics - $26.1m fundraise ($20.0m debt)/$6.1m equity)

Shield raised $26.1m through a $20m term loan facility with SWK Holdings (unconditional) and $6.1m equity placing to fund several initiatives to drive improvement in gross-to-net (GTN) prices (including new field access team), fund the working capital needs (inventories and receivables) of the US growth story and repay the $5.7m AOP Health convertible loan. The interims and Q3 update clearly show the fruits of the Viatris collaboration, with covered lives increasing 20% to 123m (vs. 100m) and st

Interims in line – new forecasts for Life Sciences

Interims are in line and show strong growth from key product lines, which bodes well for future sustainable growth. Having already rebased our FY23 estimates to remove any contribution from the delayed South Bend facility, we reintroduce FY24 & FY25 forecasts to reflect the revised schedule of revenues ramping up. These show group revenues on an improving trend and EBITDA margins strengthening towards 22%. The shares trade on an FY24 EV/EBITDA multiple of sub-10x, falling to 8x in FY25. There is

Venture Life Group - Strong cash generation

Venture Life has published its interim results to the end of June 2023, reporting group revenue growth of 24.4% to £23.5m, supported by both VLG brands and Customer brands. Although gross margin was down in the period as anticipated, tight operational cost control delivered improved adjusted EBITDA margin of 18.9% (H1/22A: 17.6%). As in previous years, we expect H2/23E to deliver stronger adjusted EBITDA and maintain our £11.6m FY23 expectation. Significantly, cash flow generation was strong in

Hybridan Small Cap Feast - 26 Sep 23

26th September 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 ob

Oxford BioDynamics+ (OBD, House Stock at 10p) - Early availability of prostate cancer test

Interim results

Belluscura has reported interims in line with our expectations and notes strong momentum across its product range, particularly the DISCOV-R, and ‘transformational' progress in its global roll-out after signing Agreements with InnoMax and McKessen.

Artificial intelligence in UK biopharma and healthcare 11/09/2023

Artificial intelligence (AI) continues to accelerate at full speed, first by imitating the workings of a human brain and now it is drawing concepts of evolution, sometimes with synthetic data, artificially manufactured for training purposes or for privacy protection, and sometimes not even with human intervention. In this note, we examine how AI is being developed and applied by the NHS and UK mid/small cap companies for the benefit of human health and wellbeing. AI in drug discovery and devel

Interims – trading in line with upgraded estimates

NIOX delivered a strong H1, driven by Clinical revenues +29% in the period. Trading is in line with the forecasts that were materially upgraded in July. Margins continue to strengthen and cash flow is following the increased profitability. Having returned £10.5m via a special dividend in September, we expect a maiden ordinary dividend to be declared at the finals in March, reflecting the strong fundamentals and highly cash generative nature of the model. We continue to view NIOX as a unique asse

Hybridan Small Cap Feast - 12 Sep 23

12th September 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 ob

NetScientific - Interim Results – solid strategic progress paves way for value inflection

NetScientific, the deep tech and life sciences VC investment group, has released interim results to June 2023 evidencing progress in the ‘core' portfolio and first asset realisations. Amongst multiple updates detailed below, across an expansive and diversified portfolio of over 20 companies, NSCI reports a Fair Value' as at 30 June 2023 of £35.5m (H1-22: £29.2m) a 21% increase compared to H1-22A. Looking at the last six months, and excluding the market value of PDS Biotech (NASDAQ:PDS - currentl