29 Nov 16
The prospect of Hilary Clinton creating an oversight panel with the power to impose a set of harsh enforcement rules to control aggressive pricing of pharmaceuticals in the US fell away with the election of Trump, leading to a 16% bounce in the NASDAQ Biotech index and an 8% increase in the US Pharma & Biotech index, some of which has already been given back.
Small Cap Breakfast
28 Nov 16
Warpaint London—Schedule one update. Raising £2.5m at 97p. Expected mkt cap £62.6m vs revenues of £22.3m Walls & Futures REIT — Has raised £1m at £1 to acquire, refurbish or develop residential properties in the UK . Due to arrive on ISDX on 29 November Diversified Oil & Gas— Schedule One now out. $60m to be raised. Expected admission 6 December. Creo Medical Group —UK based medical device company focused on surgical endoscopy, a recent development in minimally invasive surgery. Admission due 7 December. Fundraising details TBA.
14 Nov 16
Orchard Funding Group* (ORCH): Initiation and results (CORP) | Akers Biosciences* (AKR): Q3 results with positive outlook (CORP) | Castleton Technology* (CTP): Interims on track, cash flow returns (CORP) | Ithaca Energy (IAE): Q3 results (BUY) | 21st Century Technology (C21): On the buses (CORP)
Rude Health - Life Sciences quarterly sector note
30 Aug 16
Topic of the quarter: In light of the Brexit vote, we reflect upon the implications for the NHS and the wider healthcare industry. We take a pragmatic approach to how the referendum result will affect staffing, recruitment, clinical trials, drug pricing and small company grant funding in the coming months and years.
Hybridan - Small Cap Wrap
01 Jul 16
AKR Distribution Agreement, AVCT Affimer Binders, AVG Return of Funds, PRSM Interim Results, COG* Distribution Agreement, FISH Placing, FITB* Board Changes, Placing and Loan Capitalisation, FUM Agreements, HCM Phase II, IGE Agreement, LRM Selected, NWF Trading Updated, PLI* Fast Track, SCH Trading Update, TMT* Invests
Q1 2016 results: reintroduction of estimates and target price
17 Jun 16
Q1 results were indicative of some of the changes that the new CEO has put in place since his arrival in November 2015. After an underwhelming 2015, 2016 has begun positively, with 88% growth in PIFA revenues and the confirmation that the first shipment of PIFA (part of $2.5m order) to its Chinese distributor has been made. The outlook is for a substantial uplift in performance in 2016, albeit driven in part by price increases. We re-introduce forecasts for 2016, which are for revenues of $5.6m, and a target price of 150p, based on a 2016E EV/Sales multiple of 1.6x.
Finncap Research Monthly Book 2015-11-17T08:04:47+00:00
17 Nov 15
Highlights this quarter: Topic of this quarter: There continues to be significant investor interest in the area of Animal Health (AH). We see a number of factors which make this market attractive. Sector newsflow: Volatile stock markets and fears of sector-wide drug pricing regulations led to a major correction in healthcare stocks during the third quarter. Although selected specialty pharmaceutical companies were called upon to consider their aggressive drug pricing, the majority of drug development companies were sold off. Granted, the broader AIM Healthcare index did not escape the recent selloff unscathed and has fallen more than 6.4% since hitting its 52-week high in mid-June. Stocks to watch: Although healthcare equity markets are likely to be affected by further US political campaign headlines concerning healthcare reform and price controls, we remain confident that the strong fundamentals of the sector will be adequately reflected over time. We favour companies such as Vectura (BUY: TP 225p) that address big unmet medical needs with novel therapies because they are well positioned to grow profits regardless of the reimbursement environment.
04 Nov 15
Connect: New growth areas and a 6% dividend yield (BUY) | M.P. Evans: Four reasons to Buy M.P. Evans (BUY) | The Joy of Techs: finnCap tech Quarterly – analyst interview | PPHE*: Strong demand, rising prices and an expanding portfolio (CORP) | Gemfields: Q1 operating results (BUY)