Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Interims released today:- - Strong first half financial performance - revenues up 21% and gross profit up 26% - £19 million new contracts signed resulting in a backlog of £60 million Revenue growth seems largely down to Primevigilance http://www.investegate.co.uk/ergomed-plc--ergo-/rns/half-year-report/201609260700097528K/
always seems to accelerate before results time. Sadly, despite always being positive, it is never enough to push up the SP - we are a long way back from the highs of 2015. Have been lumped on here since the initial IPO, always with the same belief that this will remain a profitable company with the mahoosive upside that one (or more) of their trial drugs will be a game-changer. Very clever business model de-risks this one brilliantly, and great management in place - but needs a re-rate with the MMs. Equity Development holding a post-results webinar with management on 27th - worth tuning in for IMOH.
http://tinyurl.com/zzjwhxl Andrew Mackie, chief business officer of Ergomed Plc (LON: ERGO), says the company is looking for more acquisitions principally specialist service companies operating in the post-marketing arena. The pharma services specialist has just bought Haemostatix and its pipeline of topical products to treat surgical bleeding. Mackie is confident the products could get to market quickly and economically, but tells investors there are earlier monetisation moments in terms of deals with licencing partners. Concurrent with this week’s acquisition, Ergomed raised £9 million to assist the development of Haemostatix products and fund bolt on acquisitions to cover geographical holes globally and enhance service delivery.
http://tinyurl.com/hpjqqhr Ergomed (LON:ERGO) Chief Financial Officer Stephen Stamp tells Proactive Investors about plans to make bolt-on acquisitions in 2016. "My background is in investment banking, capital raising, that is the kind of CFO background I have so that is what I hope to bring to the party and in coming quarters you can expect to see an announcement or two" he says. Phillips says Deltex has a small pipeline they are looking at and is keen to broaden the firm's geographical reach. "We feel we are a little under-represented in the U.S. - that is one place we are looking and there a few spots in Europe where we have some gaps we would like to fill in... and then to the Far East, but not China" he says. "China is a special market and there are other places for us to go first".
· Revenues up 43% to £30.2million (2014: £21.2m) · Gross profit up 45% to £8.4 million (2014: £5.8m) · EBITDA (adjusted) up 39% to £3.4 million (2014: £2.4m) · Strong backlog of £59 million with more than 85% of planned 2016 revenue already contracted as of 1 January 2016 "We continue to see good customer traction with contracts with an initial value of £28 million won in 2015 and the Company is poised for another excellent year in 2016. " http://www.investegate.co.uk/ergomed-plc--ergo-/rns/preliminary-results/201604120700068638U/
Results due on 12th April http://www.investegate.co.uk/ergomed-plc--ergo-/rns/notice-of-results/201603301200045460T/
New CFO Stephen Stamp - impressive CV http://www.investegate.co.uk/ergomed-plc--ergo-/rns/ergomed-announces-board-changes/201601110700073628L/
A useful snapshot of where the Company stands on each of its co-development partnerships. With final results due in 2016 from the phase III ZoptEC trial in endometrial cancer, Lorediplon phase IIa for insomnia and sevuparin phase II for sickle-cell disease next year is going to be very important for the partnership side of Ergomed's business. http://www.investegate.co.uk/ergomed-plc/ergo/ergomed-update-on-co-development-partnerships/201512160700071864J/?fe=1&utm_source=FE%20Investegate%20Alerts&utm_medium=Email&utm_content=Announcement%20Alert%20Mail&utm_campaign=Ergomed plc%20Alert
Seems that the FDA Data Monitoring Committee recommended halting the trial after a review of the data that showed that a combination of Synta's drug ganetespib and chemo showed no significant benefit over chemo alone. Great shame for the patients. As for Ergomed, I believe their involvement is restricted to the fact that they performed the completed phase II trial with a reduced fee in return for what I assume would be a small percentage of future revenue. The important point from today's announcement as far as ERGO are concerned is this sentence from the RNS:- "The termination of the study has no impact on the financial position or forecast cash flows of Ergomed" The link to the original announcement is below but essentially the cost to Ergomed has been the amount they reduced their fee by back in 2011. https://www.cambridgenetwork.co.uk/news/ergomed-announces-co-development-agreement-with-synta/
What's are the thoughts on todays RNS?
http://www.investegate.co.uk/ergomed-plc--ergo-/rns/ergomed-s-co-development-partner-news/201510140700321679C/ "This positive second recommendation from the DSMB is an important milestone since it supports our continuation of the ZoptEC Phase 3 trial in endometrial cancer until its completion. The DSMB recommendation was based upon a comprehensive review of the data on efficacy and safety. We believe that zoptarelin doxorubicin has the potential to become the first FDA approved medical therapy for advanced, recurrent endometrial cancer."
H1 2015 revenues up 85% to £14.5 million H1 2015 gross profit doubled to £4.2 million H1 2015 EBITDA up 66% Contracts with a value of £15.0 million signed for clinical studies and pharmacovigilance projects in H1 2015 "Our co-development portfolio is maturing and we are looking forward to our partners' late stage clinical data readouts in 2016. We continue to believe that significant value can be generated through focusing our drug development capability on co-development partnerships and as the portfolio expands, Ergomed will be in a position to place more emphasis on this element of the business. Certainly, we are seeing good opportunities in this sector and as one of the few companies taking a shared-risk approach, expect to be one of the leading beneficiaries of this trend going forward. http://www.investegate.co.uk/ergomed-plc--ergo-/rns/ergomed-interim-results-2015/201509290701094986A/
Data and Safety Monitoring Board to carry out second interim analysis of Aeterna Zentaris' 3 ZoptEC phase III in endometrial cancer. Study protocol shows the trigger for this second review was about 192 events. Will be very interesting to hear what they recommend - would be amazing if they rec. unblinding!
"A strong order book of future business is expected to power growth for healthcare firm Ergomed, meaning that the business is ‘not rushing back to market’ to raise more capital’ in the near term" http://www.growthcompany.co.uk/news/2490716/strong-pipeline-to-power-ergomed-growth-into-future-says.thtml
have added !
Lorediplon phase IIa trial up and running http://www.proactiveinvestors.co.uk/companies/news/108978/ergomed-announces-first-patient-has-been-recruited-for-insomnia-study-108978.html
Yep - seems to be ticking along nicely. Substantial increase in revenue last year and good news yesterday with another phase III contract. Seems to be under the radar of most but that's no bad thing.
This company looks pretty sound and with a lot of scope ahead. Bought £2.5k for the time being.
From Proactive on today's acquisition http://www.proactiveinvestors.co.uk/companies/news/80725/ergomed-acquires-medical-information-firm-sound-opinion--80725.html
Well worth a listen
http://tinyurl.com/k56vs2z Dr Miroslav Reljanovic, chief executive of Ergomed (LON:ERGO), says the company believes it can increase its share price further, which he claims is still undervalued even after a 20% rise over the last six months. Reljanovic believes the acquisition strategy, coupled with newsflow over the coming months, should help the stock to continue its journey north. Ergomed’s CEO says it’s hard to pin down the exact size of the potential market but says the market for oncology treatments in general is very large. The company floated on AIM in July last year, raising £11mln to fund its ambitious growth plans.
Excellent RNS today ZoptEC Phase 3 all on track and a positive recommendation from the Data Safety Monitoring Board to proceed. Recruitment ahead of schedule too - 90% of patients now recruited.