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Come on guys, you all sound like lambs going to the slaughter. Dibs has already shown his colours a number of times and nothing he's said has any credibility whatsoever, and yet you all predictably react to his every word.
The recent update was up until the 31st March 2018. Figures mentioned up to 30th September were projections only (40% increase). Todays RNS was confirmation that those projections were accurate and correct (45% increase).
Litigation in the yearly update to the 31st March mentioned only that it was lifted. This RNS clarified and confirmed the legal proceedings were completed.
Further fundraisings were only mentioned in the last paragraph of the year ending 31st March update - going concern. This was only in the context of a possibility within the next 12 months. I repeat, a going concern paragraph is a requirement applied to all companies under stock market rules for the protection of the public.
You may have noticed the price closed yeasterday at 8.10 - 8.30 but opend this morning at 8.75 mid. Now showing 40 points - 4.5% down at 8.20 - 8.50 in reality is up on yesterday.
The US has just suffered the largest two day drop in its history and our FTSE 100 took major hits because of it. That's why we are at this price combined with the fact that we are within a placing makes matters worse. However, everything is short lived and stabilisation is but a matter of course. Again I say be patient.
By the way my surplus cash found a wonderful price of 7.7p
I agree with Notaflipper that we will get some very important news over the next few weeks. That news may take the form of new contracts or even new products, but that’s not what matters. What really matters is the revised strategy and the business plan that goes with that, including the forward projection of the numbers. To me, the period we are now in is the most important period in our history and the coming updates will fundamentally redefine the investment case, which should bring in fresh interest that’s looking forward, unburdened by the horrible history.
Dibs,
I have no idea where to start...Obviously there is a co-ordinated group across the various BBs where you all share the stock material.
The trading results highlighted were known already and not referenced in my post neither did I say that this was material news. What I did say was that the sell-off now is overdone, that there's an anticipation of sales forecasts at/by the AGM and that further news should be expected.
So for example the last time the sp was at this level was in beginning of JULY before (a) new CEOs appointment; (b) new oncology product adding £1m to sales; (c) increase in revenues and (d) Litigation settlement with Illumina. To your team's credit suggesting a 50% drop in sp for a 6% share dilution was warranted has been a success which I am sure you have profited upon. The placing communication lacking sales forecasts has allowed this as it did not provide any context to market growth.
Let's just see what next week brings.
Have to agree ...looks weak. Then again, we're being kept more uptodate.
Inspite of being a large holder I did not like today's rns. Seeing through it as a weak attempt to support that looks what it is. Let's have some real new material news!
No one seems to have spotted that they actually released a trading update with the full year results. And now, two weeks later they release another trading update for the same period. The difference between the two - £100k. Not worth it was it. Just looks desperate. The other thing to note is that they are comparing to H1 the previous year. Sorry Lyn you won’t get away with that one, this is NOT a seasonal business. If you compare to the previous half year period the growth is far smaller. So, what can we deduce from this once we use relevant statistics. We can deduce that costs/expenses are growing faster than revenues and that’s why they said they would focus on this, because they can see it is a major issue.
The other thing that looks desperate is to mention the litigation yet again. The ‘dividend’ from that has disappeared Lyn.
It is utter fantasy to be suggesting the sp is going to quickly recover to previous highs. The truth is out there now. There is a lot of work to be done to reign in costs. Revenues have slowed markedly. They need possibly several fundraising’s in the next year or more to get through this period. Don’t be taken in by PI’s who have large holdings and are trying to (understandably) protect them by spinning regurgitated news.
It therefore should not be any surprise that the market is selling this off.
Agreed the announcement of a clear date of 3rd of December or earlier is a sign that Lyn is trying to improve investor communications. The narrative of the last horrible 3 weeks is clear and the placing was badly handled/communicated however the sell-off has been overdone (c. 50% since 19th Sep for a 6% share dilution WTF). In May this year there was a dilution of 30% at c. 45% discount to the current sp (4.5p when sp was 7.5p) and the sp DOUBLED since then. AFTER the legal settlement PIs due to cost management concerns which I still believe can be addressed or at least significantly mitigated within CURRENT trading year have run in opposite direction because of Donal Duck characters.
As previously stated I am hoping for more news in next week as well as trading update by/at AGM. This update should then calm PIs concerns around trading forecasts which will finally include revenue projections from contracts in Middle East, China, India and Brazil. Hopefully this shall mean previous year highs are quickly passed thereon.
ATB to all LTHs (NIPT/VIY)
That’s much better isn’t it. Last years interims weren’t published until 29th December, so 3rd of December or earlier is a clear statement of how Lyn will be improving communication efficiencies.
That's better Lyn. Good H1, even better H2 to come. Plus a date for interims not last min under Little the Company is focused on capitalising on its global opportunity and driving growth. We look forward to updating shareholders further on the business at our forthcoming Annual General Meeting."
cheers, Flipper.
Thermo Fisher is the world leader in serving science, with revenues of over $18 billion and more than 55,000 employees in 50 countries. Premaitha's IONA and SAGE prenatal screening tests run on Thermo Fisher's DNA sequencing instruments.
It should be noted that Premaitha’s IONA test is the ONLY NIPT, let alone CE-IVD, test that runs on a TMO sequencer as most use Illumina’s. So TMO have a need of their own to secure Premaitha’s future – even at a loss – to protect their sequencer sales.
My understanding (please correct if wrong) in aggregate Thermo Fisher now hold warrants over 95,688,706 ordinary shares, representing circa 20% of the company on a fully diluted basis. These warrants are exercisable at different levels.
My understanding of the TMO Warrants is that the following have been issued.
Date: No of shares @ Executable Price
Dec-15: 20,325,204 @ 24.6
Sep-16 17,094,018 @ 11.7
Mar-17 16,913,319 @ 11.825
Jul-17 28,938,797 @ 10.725
Feb-18 12,000,000 @ 5.77
For these my understanding is that TMO paid the following:
- Jul 2017: £2:4m
- Jul 2017: £5:0m
- Mar 2017: £2.0m
- Sep 2016: £4.0m
- Dec 2015: £5.0m
In total £16m. So if they walk away, do not supply further support if needed, or the share price NEVER reaches above 10.7p in next 8 years then these warrants are not exercisable though loans will still have to be repaid.
That’s why when derampers suggest that TMO walk way or not support Premaitha they don’t understand the chessboard.
Also the distressed share price does open the opportunity that a Third-party can make an offer for Premaitha. In this scenario as TMO's support has been instrumental in sales then they would be important to any potential buyer to keep on board. TMO would therefore ask for their floor of their warrants to be covered or would be unhappy to provide further support to a potential third-party buyer this would mean that the ‘technical’ floor would be 24p.
Today was inexplicable with people selling at 7p AFTER a legal settlement which worked towards Premaitha’s strategic benefit (2 billion dollar companies are now vested in Premaitha’s future – not one).
With the company presenting on the 16th in London and the 25th AGM I am hopeful that more news will be issued shortly to correct some of the concerns aired.
can you explain cos not 100% sure about the tie up with the T/O and the 24p warrants and what it means exactly? Ta!
Orangetree ...bet you did lol. Court case ? No ...really?! Gee ...wow. Lol.
Having sold at 10p, I thought I miss the boat on bigger profits. Now, I can't believe the shares are trading around 8 pence. Either this is a buying opportunity or something happened in court between Illumina and Premaitha.
apologies typo - 10% of a potentially billion dollar market
Despite the shocking competence of Premaitha IR the current sp is too negative compared to any further potential bad news. The current sp is more than 20% below the placing price which itself was 19% below the sp price at that time (which already had a run on it from 15p).
Seems a bit overdone imo.
Given where the company was when we were previously at this territory (even correcting for the 6% minor share dilution) the sp is too negative. Since then the company has resolved a multi-million dollar litigation to its strategic benefit against a billion dollar company. It has also increased it product range and added £1m to sales. With over 80K sales volumes expected iro this year we should expect Premaitha to have close to 10% of a potentially billion dollar company where strategic interest towards TO has been already shown via warrants at 24p.
same thing happened in Feb/March time..FTSE dropped from 7800 to 6800, but recovered back to 7800 again quite quickly.Maybe the same will happen again as I can already see the doom and gloom mongers coming out from under their stones, lol!
Correction or bear? I think there will be a rip your face off rally in us markets in the next few days. Still expect the Christmas rally. Bear may start next year. I also see trump critising the fed for rate hikes and called them crazy
Harder to raise money in a bear market. Way more discount demanded ... sadly.
yep highly volatile share, not for the faint hearted
Always wondered how they'd fare in a bear market global turn down, we might be about to find out.
Haven't done to well in bull market
There you have it 16p to 8p in a blink of an eye.
Atleast they raised money before this global correction
PI panic and something else - the trades have been too big... It's not forward selling just above 10 and under - that makes zero sense and wouldnt worth their while.
This could have been prevented by FN communication from the company. Utter FN shambles.
Yep brain, this just looks like some PI panic to me ... where will she bounce?!
I get the sell high, buy back low bit ... it just doesn't fit with forward selling IMO .. You forward sell to lock in a profit, not a loss!
Anyone selling at these prices must have lost their bottle surely