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
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
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. :AH companies participate in markets with strong secular growth, driven by global increases in protein consumption and pet ownership. :Unlike many Human Health businesses, AH companies benefit from the breadth of their product portfolios and are not dependent on bringing new products to market in order to compensate for loss of patent exclusivity of their blockbuster drugs. :Lack of third-party players in the AH market and the fact that pet veterinarians directly dispense drugs to their customers is another attraction, especially when compared with tough price negotiations with governments and insurers in Human Healthcare. : Combination of smaller products and lower gross margins has made it difficult for generic manufacturers to compete in this market. :Development costs and risks are also lower than drugs for humans because of shorter and relatively smaller studies conducted directly in the target species.
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) |Akers Biosciences*: PIFA Heparin/PF4 Rapid Assay approved by CFDA (CORP) |Wentworth Resources: Production and payment update (BUY) |Xaar: IMS (HOLD) | Inland Homes: Confirming value in land (BUY)