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Note the absence of a £ sign in my post. 2m shares:-)
£2m? Has he robbed a bank?
250,000 would be an insult unless he does it every month
I hope its not Mo, I was thinking if he has faith in his own abilities, he would be good for at the very least a 2m share buy.
Has Mo just purchased those £250k ?
250, 000 buy at 12 after hours according to latest quotes on ADVN.
Certainly looks like it!!
The two companies I’ve worked for have both had large repeat customers and it has helped both to grow successfully. I would of thought you can still raise prices with the repeat customer as they can’t find the work elsewhere. Perhaps not if it is turning away more profitable business but it’s maybe a hard balance to find.
And yes I am too disappointed with “the marketing” from CF. I’m trying to work out if it’s worth keeping my money here and appreciate your viewpoint.
Last buy price is 12:00p shown on Google - something happening in the morning ?
Surely in 2021 the client who provided c 30% of revenues was the UK govt contract , as this was worth over £10m and was then extended.
I suspect they were given a priority and also margins weren't excessive as we were in the middle of a pandemic.
The 'repeat client' , esp. the 1 who provides 1/3rd of ORPH's revenue, will be given priority over smaller-scale albeit more profitable business (any one of the other 60 names that ORPH has dealings with) that calls at the same time, wouldn't you agree ?
Maybe I've become a bit jaundiced about CF and his 'marketing'. Do you still feel as you did when, amongst your relatively few posts (all abt ORPH), you wrote this in Nov 2020 :
.."Three things certain in life... death, taxes and a nice blue day after a Cathal presentation..."
The third hasn't aged well, IMO.
Extrader, just wonderign why you think the 3/4 repeat clients indicates we don’t have a moat/ pricing power.
I would have thought that if we are fully booked and these repeat clients want our services then this would indicate the moat, as they can’t get the same service elsewhere?
.." the contract revenue has doubled for comparable work.."
Is there anything in the public domain to suggest that the work is comparable ? The argument seems to be that ORPH has a large , fixed cost base (ie break-even) and that more efficient/optimised use of its facilities etc is what has contributed to improved margins.
Time will / may tell...
Because the contract revenue has doubled for comparable work - therefore margins are improving significantly as CF predicted
.."Why do you keep suggesting differently?.."
I don't KEEP suggesting differently : I just observe that ORPH doesn't appear to have much of a 'moat' ( reflected in pricing power).
Your reference is to contract size , as opposed to profitability. Why have you changed the basis of the discussion ?
The margins seem to have improved greatly in the latest contracts £7-14m as opposed to 3-5m for comparable studies, as CF predicted. Why do you keep suggesting differently?
You could well be right :I asked a question about how long it would take to have the 'brew' ready and there was a shuffling of feet and a pretty evasive answer.
You'd think that if it was that difficult , there'd at least be the consolation of a premium price to extract on the finished product....but judging by the margins we earn, it ain't so.
I have to say that the dependency on 3 or 4 key clients for the bulk of ORPH's revenue - as revealed in the latest financials - was a nasty surprise for me : I don't think it has that much pricing power, hence the poor margins...?
Thanks Ex, hard to disagree with the glacial pace of things. If my memory serves me correctly, wasn't there some problem with growing the delta strain in the lab, which in turn impacted the timescales for completing the characterisation study. If Hvivo now have a live delta version we could see some sort of challenge study by end of 2022.
Unfortunately, this is 'old news' : I'm a member of the focus group that discussed the ethical aspects of the first human challenge study (now completed, using Wuhan strain), this is a follow-on about the eventual/possible use of Delta on already vaccinated....
I've just received (a couple of days ago) from NIHR HIC-VAC my copy of the discussion notes we had back in January on this, relevant extract :
.."Public Involvement Zoom Call on 27.01.2022: Human Challenge with Coronavirus Study with Delta Variant
Summary report of a public discussion on the results of the first human challenge study with coronavirus and the benefits and risks of a human challenge study with coronavirus (with the Delta variant) taking place in the UK...."
The pace is frustratingly glacial, IMO and in the opinion of a lot of my disenchanted fellow focus group members.
Ho hum.
Posted by M5 on the other board. Challenge studies using the delta variant?
https://twitter.com/Eskers1/status/1541018392227991553
$4 billion in new funding to fight malaria and other tropical diseases...I wonder if Open Orphan's new malaria challenge study will gain contracts here?
https://apnews.com/article/climate-boris-johnson-politics-health-73cd113e6d52e4ea896d0c605bbb57e9