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Bojo2020,
Heads were on the chopping board :-)
It’s going to be interesting to see who will take on the CEO job ..
Appears to be a strange mix this company. Outstanding science but run like a lifestyle company. Very frustrating as it’s potential although not earth shattering is clearly not being realised.
I think it is right that MW has gone, I think RB needs to go as well, clearly the forecasts were over optimistic by two years? Now is the time to get a new team on board to drive this forward and re-align the performance targets and benefits to ensure all stakeholders are being fairly rewarded.
Martin. Thank you for completely destroying shareholder value here, awarding yourself thousands and thousands of free shares, and then as a final touch leaving the company at a very healthy 16p (probably going lower after dropping this final plop on us). Been a pleasure to make your acquaintance NOT !!!
In the previous Calvine report they were forecasting EPS of 86.81p in 2026, in this report this has moved out two years as they are forecasting EPS of 87.2 in 2028.
Thank you - seems well written and this mark down has been ridiculous
Appreciate the link
https://www.calvinepartners.com/diurnal-group-smc-decision
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Can't believe the day has ended in the red again after today's RNS. It seems any news whether good or bad has the same effect which is to drift the SP even lower.
This morning after reading the RNS which I would treat as a sign of some positive progress in a new market but nothing massive I seriously thought we will finally be at least off the bottom of 15p after the big selloff and be in touching distance of the low 20s with a mini bounce if not more, but that's evaporated too.
Yes this drop seems massively overdone but of course people are also spooked by Putin, and we have the low free float which always amplifies ... but i guess this may stay low until the price for next fund raise is set and made public.
And in true market fashion the sp goes down - but of course....
Decent RNS this morning. 14 countries to be added to Alkindi distribution list.
Keep chipping away guys.
Why has it been deferred by such a long time to September?
Selling way over done here.
First target 35p. Next 50p.
Mcap at cash level with a great pipeline of news here.
Griffiths played a blinder with this one... he took part in the £10million placing at 30p ish and then sold them all after the US patent, just as pi's decided that it was going to go to £2.00 (helped by bs broker note, of course) and that's where pi's began getting the rough end of the stick.
Not really sure why Scotland decision carries more clout than all the territories worldwide, including patents but there was obviously too much optimism that sales, during covid were going to be on target.
Doubt they'll be looking for funding at this level so expect slow recovery from here and placing (not sure about the non dilutive element as there aren't many shares as it is so a bit of dilution wouldn't hurt, as long as it was from a higher price) and, considering BoD sold shares last September, some decent buying from them wouldn't go amiss, even if they'd be criticised for 'taking advantage'.
Didn't hear the Meet so no idea if they suggested a significant uptick in sales in time for interims but I'd be surprised if there wasn't, unless the forecasts have all been fiction?
Price today was worse than an unproven pharma still in testing mode but, if there's anything positive to be had, current prices are pretty much half where Griffiths bought in in 2018... (that only sounds like an upside if you have any faith left in the co). some comfort to be had in the fact that at least 165million shares DIDN'T get traded today so buying at least levels puts you in a better position than most major shareholders!
I have a similar experience as well.
Whatever I have invested in as a long term investment and holding for the last 2 years has lost me money, overall 50% down. I have about 15 such shares in my portfolio.
I have traded a few other ones where my confidence level on the company is essentially non existent, and those are the only ones I have actually made any money.
I have a 5 year horizon on my long term investment, but definitely doubting myself based on the huge paper losses even after averaging down a few times if it actually will be worth it. Perhaps I need to take the emotion off and just trade and forget about the big gains potential which may never actually happen.
Ahh well, there you go another AIM bummer!
What are the chances of an LTH making a profit in this casino, probably between 5/10% I reckon.
The only way seems to be to trade with no loyalty. Lesson learned!
Strangely enough the only profit I have made in years of watching this market is trading against a share in a Co. I believe to be totally incompent.
FPTP:
We will be losing out in sales in the UK as a whole (as I understood it) because lots of medical centres and authorities, use SMC's analysis and rulings to determine what drugs are ok to use.
I wonder if the directors are being ultra cautious. After all we were granted marketing authority in July 2021 :
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces that the UK Medicines and Healthcare Products Regulatory Agency (MHRA) has granted a Marketing Authorisation for Efmody® (hydrocortisone modified-release hard capsules – development name Chronocort®) as treatment of adult and adolescent patients (12 years and older) with the rare condition congenital adrenal hyperplasia (CAH). The Marketing Authorisation for Efmody® from the MHRA applies in Great Britain (England, Wales and Scotland) and follows the recent approval of the product in the European Economic Area (including Northern Ireland)(EEA) by the European Commission as announced on 28 May 2021.
There was no mention of the share price crash, or for that matter why losing out on sales in Scotland causes such a dent to the finances (NB no mumber was mentioned) - they must have been forecasting very aggressively.
CFO said that there were effectively three options which they would review in due course:
Debt (with warrants)
Giving a higher share of an asset to a partner for an upfront payment, and
A placing
All ways shareholders lose, especially so if the SP lingers at these levels.
And they raised Twenty Million quid at 70p last year !!!! Unbelievable.What destruction in shareholder value .
Thanks, was anything mentioned today on the share price collapse and future fund raises? The crash is worse then I thought it will be this morning and there doesn't seem to be any support.
Correction from Timbo - "It was not a missed milestone in 2018, it was a missed primary endpoint in a clinical trial in 2018"
In response to questions in the "Investor Meets Company" at lunchtime, Martin or Richard - not sure which - said that SMC's decision was based around the company missing a trial date in 2018 !!
The fact that Efmodi has been passed by UK & EU didn't seem to matter and Efmodi is still being prescribed in Scotland.
Seems VERY harsh.
and so it came to pass
tp 10p-
Never saw this coming, bum!
Straight away the director is getting paid to much for tiny revenue. ! He needs to take a pay cut of fifty percent