updates were previously covered in the FUM results and what they said previously about shelf life achieved in the lab etc may mean they don't see it as price sensitive and not needing an RNS pre results although some in the maket might may disagree with that idea. Anyway no RNS was ever forthcoming about the Blackrock overhang and significant share price fall either from FUM due to it and not too many Holding RNS came from Blackrock either as they passed below 3% so I would not expect an RNS pre-results. The real question is why are Henderons so keen and now at 15%
The close period does not prevent a company from announcing news as long as it's not stuff that's included in the interims or finals and is price sensitive. ATB
On the button as usual. ATB
RNS - Hello
They are in a close period ahead of the results end of March so no news expected but Hendersons are very positive and continue to buy ahead of the results and now over 15%
RNS - Hello
Hello Futura, It's nice to hear from you. Do you have any nice or interesting news that you could let us have, to alleviate the boredom of holding shares here?
RE: re really
OK. In answer to your question about whether 50p is achievable, ultimately of course it depends on buying pressure to drive up the price but if you consider that FUM successfully raised £12m with institutional investors last year at 57p I think it's fair to say that the institutions believed that to be a good offer and is well within reach. Bear in mind it was only a small discount of 2.5% on the average price at that time. The fund raising was needed to support clinical development of earlier stage products over the next few years in order to deliver shareholder value. So, FUM have money in the bank, a low cash burn of approx £2.5m pa and at the last webcast were expecting to turn to profit at the end of 2015. They employ only 7 people and outsource their development work which enables them to efficiently control costs. If you check out the investors section of the website, you'll see a graph demonstrating the progress of individual products in the portfolio and FUM are much further down the line than this time last year. The prelims later in March will give a full progress update and if all goes to plan then we should be in for some exciting times. All IMHO of course.
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