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you may be right, let's see. However, if you are going to quote me please ensure the excerpt posted covers my full point. In the next line i mentioned we have a non refundable deposit from the UK govt too.
I believe this was £2.5m per CS. Even if the current extension is assumed to be the 2nd study then that's still leaves £5m that will go straight to the bottom line if the UK govt walks away.
Not having a pop BTW, just pointing out that the worst case may actual not be that bad
.."Slight negatives are delay in UK govt CHIM study. However, a couple of points here - this is delayed not cancelled, a big difference. .."
Given the procrastination permitted to-date by HMG over characterisation studies + their track record of incompetence in other areas, I think it would be unwise to assume that the contracts as we understand them are a 100% nailed-on certainty.
FinnCap seems to have considered the likelihood of procrastination better than most - and were pilloried for it at the time.
Remember CF was even asked to have a word with them ?
This is not a political point, as I can't imagine any other shower doing any better.
'Every nation gets the government it deserves'
;-<
yes, all looking good.
2 loss making companies were combined only a year or so ago. As of H1 revenues are more than the whole of 2020 and we are EBITDA positive (i did say last week a £3m EBITDA and a £1m loss would be good - so not a million miles away) with reassurances that we will be PBT positive at YE.
A new contract announced with more to come and non covid earnings in 2022 of £50m (plus any covid on top). The core business is in rude health.
Slight negatives are delay in UK govt CHIM study. However, a couple of points here - this is delayed not cancelled, a big difference. Also as we have seen with UK govt you can only go at their pace. Look at other UK companies dealing with UK govt (NCYT,ODX and Abington etc) - they've all had issues, delays, contract disputes and non payment. ORPH has a non refundable deposit, so we are in a much better place, and of course covid isn't going anywhere soon despite the comments from Boris.
The other negative will be the perceived delay in spin offs. It will be interesting if dates are firmed up tonight. Dates were never going to be RNSed today and obviously Immutex is outside of CF's control.
I do want firmer details on DIM, however, i think CF will be careful to offer a date after previous estimates. His current line of in the coming months is a more sensible statement . In the grand scheme of things if this is delayed form late 201 to early 2022 and delivers decent shareholder value i am not overly fussed.
Let’s put things into perspective here on these fantastic record breaking results for OO….
How many hi tech stocks are out there with only 20% or 30% growth and massive losses or debts and are valued x50 that of OO especially in the US. someone needs to smell the coffee here, we should be in the 50’s not the 20’s!!!! Forget Hi tech, welcome to the world of CRO’s and OO.. the future is bright and it isn’t orange!
Well if it opens down, it is a huge buying opportunity, imo. The sp is well justfied now at this level. Should be in the the thirties plus as 'base sp' ignoring further spin offs.
Heavily invested in Orph and topped up again last week.
Only concern is “ While 2021 will represent record revenues for the Company and a return to full year EBITDA profitability, it is somewhat behind analyst expectations as the anticipated COVID-19 challenge studies will now likely commence in 2022….”
Interesting to see the SP at 8.00.
Well done to Cathal and all the team. Fantastic results.
Says it all really, we’ll done CF and the team at OO!!!!!!