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I agree Grange. I think the markets will wake up to this , this afternoon. We also have offices in the States, so should be a good reaction when their markets open. Along with the European approval coming much sooner than expected, this is Monumento's news.
Very poor sp reaction to such good news
Creo Medical Group plc (AIM: CREO), the medical device company focused on the emerging field of minimally invasive surgical endoscopy, is pleased to announce that it has received 510(k) clearance from the US Food & Drug Administration ("FDA") for its Speedboat® UltraSlim device.
Fantastic news for the SP.
Another positive aspect of the RNS is the fact that they have managed to 'scale the technology down to a size which is as small as it ever needs to be'. This suggests that any future development costs will be substantially 'scaled down' too. (: It also suggests they have made technological breakthroughs which can potentially be applied across the product range.
The acceleration of regulatory timescales just adds to the feeling that the company is genuinely on a rapid upwards trajectory, not just issuing hopeful words like far too many small businesses.
Agreed, feels really significant. Be interested to see whether this leads to a revision on when CREO expects to achieve breakeven point.
Market response doesn't seem to agree with my views on this bit of news, but it's a bit of a sh*tshow out there at the moment so trying not to take it as personal to CREO. I guess until the approvals actually come from Europe and the US, it's a nice to know, but not 100% , so when we actually get those approvals that's when it will get priced in to the share price. At least I hope so, watching this bob along at 32p-35P is frustrating at times
Sorry error on my part. 2025 should have read 2024. Typo
"With this news, the accelerated timeframes will now see Creo, clinicians and patients reaping the benefits of widespread commercialisation of Speedboat UltraSlim in both Europe and the US in 2024."
Early 2024 has been stated elsewhere, I feel this news is quite significant and (if I read it right) shows the eagerness of the regulatory bodies to support CREO in getting their impressive tech into use for a wider range of surgical applications. Seems great to me !
Early launch of the UltraSlim in the EU has to be good news. 2025 is not so far away now. Lets hope the cost of the launch, training and familiarisation is not too onerous. Still the launch should eventually translate to sales, income and eventually profit. Hopefully!!. Fairly muted response share price wise and some of the larger 'unknown trades' could well be sells but that's a guess to be honest.
There was an incident on the London stock exchange on the 19th, trading in lots of stocks were halted, resumed on the 20th.
Trading halted on T212 before close. Hmmm
ShareSoc is holding its first hybrid event in London on 19th Oct! Hear from Creo Medical Group (CREO) and other healthcare companies like Tristel Plc (TSTL), Inspiration Healthcare Group (IHC), Abingdon Health (ABDX) and GENincode (GENI). 📍🌐 Attend in-person or online. Register: https://bit.ly/3FbyXfe
Winit, having a read CMR must be a player, the fact they are a UK company helps and certainly they are getting real traction in Europe. Intuitive utterly dominates the US market. I suppose that if Creo were able to choose they would run with both rather than narrow their focus. It does puzzle me that we haven’t seen more progress. I have absolute faith in the Creo technology, maybe it’s the nature of the market and all the technical issues, it just takes an eternity for these relationships to develop given all the medical risks, lots of trials and testing I guess. Hopefully next time Creo report we will see an update on all of this.
With CMR surgical to consider also (another very large robotic based med device company) little Creo are interfacing with some similar? big boys.
It feels like an interesting situation. I expect/hope something significant will come from these relationships.
Can Intuitive and CMR be considered competitors ?
I cannot remember where I heard it but apparently Intuitive do not make acquisitions of this nature. They are so utterly dominant in their field that they can probably achieve their goals through agreements that grant them exclusivity without the need for an acquisition and all the baggage that comes with it. Apart from which Creo is so so tiny in comparison to Intuitive that it simply wouldn’t be worth the energy. But it would be nice to be wrong!!
Just a thought, with Creo's tech and the size of Intuitive is it not feasible Intuitive may consider a buy out offer of Creo?
Interesting that this seems quite a significant move up. I realise this can move on thin volumes (in either direction) but maybe just maybe there’s some news behind this. Would be so good if they could get a formal tie-up with Intuitive Surgical, it would appear such a natural and obvious step for both parties. Getting traction for organic sales is so painfully slow we could do with a step change.
30K punt, where have you seen that?
However nice to see this on the up, long may it continue.
No scheduled news or reason for extra trading, other than someone thinks this is a good 30k punt. Insider or institutional, doesn't really matter but I'm guessing news will soon back it up.
Nobody here just me and my echo. Lol
I've noticed up till Wednesday our sp fluttered up and down in a gentle fall like an autumn leaf. Then we got decidedly spikey like Sid Vicious haircut. On Monday a sub 30p drop with no trade and from then a steady climb as the 15 or 20k share trade has been replaced by anything up to 1m.
I smell news............
Last Sunday's tip was summarized in 'The Week' yesterday:
"Creo specialises in endoscopy kit, facilitating quicker surgery and faster recovery - bang on current NHS trends. Sales have doubled as the tech is globally recognised and adopted. At "inflection point". Buy. 32p"
Too early to say SS, because it would need the trajectory of growth in core revenue to climb a steep curve, which it's hard to be sure about. In the last six months they have generated revenue from core products equivalent to the whole of the previous year - so if that exponential rate can be sustained over the current six months, then the momentum would suggest they are home and dry. The doubling was from a very small base though, so it;s still unclear if it can be sustained. The substantial reduction in costs also allows a longer runway for income to catch up.
Creo featured today in the Sunday Times’’s tips section, should at very least bring some extra awareness from the wider investor community and hopefully a tick up in SP
https://www.thetimes.co.uk/article/share-tip-innovation-puts-creo-medical-on-a-healthy-trajectory-d6dchlk83
So will they break even before they need to do another fund raise??
· Cash and cash equivalents of £26.5m at 30 June 2023 (30 June 2022: £26.1m; 31 December 2022: £13.1m)
· Post balance sheet receipt of £4.5m R&D tax credits
· Underlying EBITDA loss (EBITDA with R&D tax credits and other accounting adjustments added back) of £9.2m, representing a 15% reduction vs. H2-2022 (£10.8m)