The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Actual figures for H1 won't differ from what we were given in the last trading update. The interesting things will be if they give us any idea of projected full year figures to June 30, current cash (from which we will be able to assess current cash burn), and any actual or pipeline project details.
Personally I'm hoping for a nice news nugget to drop before Thursday - they've timed news with the interims nicely in the past....
Roll on Thursday! I'm hoping we will get a little more than just figures but I'm looking forward to seeing more progress I'm sure (hope) towards the near term profit target.
Earlier release may also of course signal director buys given they are in a closed period until the interims are published. O4 that may be hogwash/wishful thinking!
To be published on 14/3 (when only due at the end of the month). My experience here, and with other companies, is that earlier release tends to signal good rather than bad news.
Just for info, but NIB Biotec, who are developing a test for prostate cancer, put out a post saying they will be announcing their results obtained to date on 20/3, and next steps. Yates has been following and liking previous posts, as he did this latest. Nothing concrete, but fair bet we’re their CRO/CDMO partner so one to keep an eye on.
And just an observation, but Yates has started reacting to posts from Boots. Could they be the retailer we Yates signposted we’d be offering OEM services too? Great if so!
Better link here
https://www.youtube.com/watch?v=ZmpTTf7qAt0
Just for info, but Salignostics seem to have been pushing a major PR drive as they roll out their launch in Israel. Here’s one example of a TV host doing the test live (couldn’t do that with any other preg test!).
https://www.linkedin.com/posts/meirovitch_%D7%94%D7%A2%D7%95%D7%9C%D7%9D-%D7%94%D7%91%D7%95%D7%A7%D7%A8-%D7%A2%D7%A8%D7%95%D7%A5-13-%D7%91%D7%93%D7%99%D7%A7%D7%AA-%D7%94%D7%A8%D7%99%D7%95%D7%9F-%D7%91%D7%90%D7%9E%D7%A6%D7%A2%D7%95%D7%AA-activity-7171186682401091584-NMqq?utm_source=share&utm_medium=member_desktop
Don’t speak Hebrew so don’t know what was said in the piece - does anyone else on here?
Well, all I can add is that ABDX have a history of releasing news in March, going into the interims. - happened last year and the year before) No guarantee that will continue of course......
Not best pleased at this price my average is 12p thought it would push on after salistick announcement .
I wouldn’t be buying anything now, it’s at 7p and without any news it will drop further to 5p. So frustrating
If there is to be good short term news, my bet is it will relate to assisting a retailer with their own brand LFT offering given that Yates signposted something was happening in that respect when he presented to the investment community in Jan.
Well, they had £3.2m at June 30 and £1.9m at December 31, so on the face of it a £216k monthly cash burn potentially leaving us with about £1.35m now (if the rate stayed constant).
But then Yates has said the second half of last year included a "settlement" for Melanie Ross alongside all staff bonuses, which of course won't be repeated in the first half of this year, and strongly indicated that revenues for this half will be higher than the last - so I'd be disappointed if the cash burn hasn't fallen. He's also been clear he is against dilutive raises, albeit I have some sympathy with the suggestion that the CP break up might have been done to allow him to participate in any raise.
Personally I don't think an imminent raise is on the cards, and I'm hoping for some good news on the financials in the interims at the end of the month, or some other good news beforehand. But the silence, as always, is unnerving.
As an aside, I thought it strange that the ask dropped to 7.5 today only to be raised later even though that wasn't supported by any buying pressure. Just looked odd for a MM to do that.
I have to agree, these kind of stocks are always risky ref funding. There has been complete silence for a few months which is obviously a concern. I just hope they are working on something positive for the LTHs...watching to see how this one goes. GLA.
That’s the risk always with penny stocks, yes Abdx has got potential but too many times we got the hopes up with salistick etc and it didn’t deliver anywhere near the expectations. Burning 400k a month on fixed costs …
Possibly down to their last £1.5m, no doubt explains why the concert party was broken up to allow them to participate in any rounds of fundraising at a discount to what they have previous paid..in essence average down..which I'm personally sick of doing !
Last one was in December 2021 raising 4m at a 34% discount in a buoyant marketplace
Get the feeling a cash call is in the offering..constant drop in the sp indicates the obvious...so how much required and at what discount ?
Here is an article about Upfront from last week.
Lots of good stuff in it, but I have to say I was disheartened by the expected timelines for UKCA (Q1 2025) and CE (Q1 2026). IDAP could still well result in emergency use authorisation well before that (as per the IDAP objectives), but it demonstrates how long it generally takes medical device developers to get a product to market and, ergo, how long it might take for us to secure manufacturing deals with CDMO partners.
https://www.360dx.com/point-care-testing/uk-firm-upfront-diagnostics-plans-launch-lateral-flow-test-triaging-stroke
Salignostics post from yesterday
https://www.linkedin.com/posts/salignostics_salistick-salivapregnancytest-empowerment-activity-7168604843752710144-KVDz?utm_source=share&utm_medium=member_desktop
Thank you Muck...
Big advert on LinkedIn about salistik looks like a commercial advertisement
Anti Microbial (Antibiotic) Resistance (AMR) is often called the next, or silent pandemic, and is perhaps the biggest threat to human health globally. Back in 2019 (I think) a push was made to advance rapid diagnostics to help quickly differentiate between bacterial and viral infections, and so help clinicians properly target antibiotics to those actually needing (so reducing the spread of resistance to them), but progress has been slow. Now there is a new push…
https://www.pathologyinpractice.com/story/44043/coalition-calls-for-testing-to-tackle-threat-of-amr
Interesting then that last year Senzo (who we who have been developing an AMR LFT) spent many weeks posting about the problem, and now they’ve been selected to join an innovative partnership of six developers chosen for their technology’s potential impact on AMR, the validation they have achieved in a clinical environment, and the benefit they would receive from a programme of support to commercialise and scale.
https://hicdigital.co.uk/six-companies-tackling-amr-join-innovation-programme/
In other posts I talked about how gushers or revolutionary new treatments are the Aim Junkies drug, but that ABDX couldn’t offer them that. Well if, and it is a big if, Senzo did get an AMR test to market (and remember they offer a PCR level of accuracy in their tests), and we contracted to make it, then that would truly be our gusher.
https://www.senzo.com/newsroom/senzo-and-abingdon-health-enter-into-strategic-partnership
Just another possible string to our bow.
Agree, but can I ask what you mean when you say “great product”?
Great product and agree it could well be well undervalued however cash burn is the issue and strategy to focus on revenue growth whilst burning cash. Impossible not see a share dilution which is the worry but and sign of significant growth and no need for dilution and boom