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Morning all
Apart from there is always a cost of a fundraise (they gave the gross figure before expenses), so ongoing monthly cash burn has nothing to do with the difference in those figures....
I agreed with comments, we’re all here to help each other rather than be deconstructive. The way I see it there a challenges and big positives:
Positives:
- strong order book versus last year
- recruiting staff to key commercialisation roles
- partnership with global diagnostics company which is generating recurring orders already
- evidence of diversification from previous strategy
- world first technology being validated by worlds most prestigious cancer centre which had £7bn funding from US government last year.
- new class leading technologies, optimal, optiphage, AIMLAB, getting traction in market shortly after development
- other pipeline opportunities in development include Fusion being part of the future medicines institute being developed to strengthen r&d collaboration as part of Northern Ireland life sciences cluster. Hopefully word soon on that being funded.
- royalty and milestone entitlement in a range of projects that could generate future revenue.
- challenges
- cash runway less than a year and dependent on cash neutrality
- interest rate environment might slow biotech and VC recovery that was anticipated
- need to recruit staff to commercialise orders could slow recovery
- lack of corporate and investor comms strategy will probably keep share price depressed to a greater extent unless significant news comes
I filtered him some time ago.
Thank you all for making sensible & interesting points in your posts it helps build a picture.
Market hasn’t dropped the price either as they can read the RNS properly Micho….
Only place Micho belongs to be is in jail
They would show you how to treat people with respect there
Completely unnecessary your actions on here for months
So you are our guardian angel, saving us all from bankruptcy, or ........what's your other agenda? Come on tell us?
Other than that you're just a weirdo
Hopefully not in a closed period at the moment....maybe get some director buys to instil confidence into the future.
DrMicho,
I was highly critical of the board a few days ago.
I say things as I see them positive or negative.
I just correct them bit's where you were trying to paint a false picture of the facts that's all.
Clearly there is something you don't like about the company, maybe you or someone you know used to work for them or such like, who knows
LOTM
CB, if you think for one minute that any posts on here change the SP you are deluded. The company are releasing trading statements that are robbing honest share holders..
Dr. Dk ED. which shorting crew do you work for ? Obviously you are not a share holder so why spend all your life trashing a company.?
There are many crooks like you on these boards robbing honest share holders? So why don't you just f.off.
ATB LTH's
Spending £127k a months got enough for 10 months xx
They've reduced headcount overall, 65% of a very meagre order book, cash burn is greater than revenues. The only reason they have cash in bank is due to a recent placing... You paint a rosy picture, youve just bought a lot of FAB havent you...
DrMicho,
Your cherry picking what was said.
Yes they reduced the headcount by 38% in calendar year 2023, but have been recruiting so far in calendar year 2024.
The current order book for the company's new financial year is already at 65% of total sales for last year.
The cash balance £1.2M is below the figure you quote from the placing £1.37M (but that is a gross figure you've got broker fees etc to take of that).
Yes they are still burning cash, but remember there was only £0.2M in the bank on 31 March 2023, 7 all that's come in since then was the sales, the placing & a R&D tax credit I suspect, so cash burn is not that high in reality.
LOTM
Morning Gordon, MAST, bye Gordon....
The trading statement speaks for itself, reduction in headcount, delayed projects, clients not ordering and cash burning very quickly... its not great, plus a pot of jam...
Sad indeed! He’s clearly been stung here
Micho you’re a doomslayer, this is in line with market expectations and already priced in 🙈 for long term view loooking at the pipeline of opportunities
You really are a poisonous sad man working hard this morning to extract anything negative out of the results
You are either shorting or looking for a lower price. People like yourself should be jailed trying to strike fear into people.
Sad little weasel
Carnage this morning with a heavy drop into the 2s........
They raised 1.37M in Feb and have 1.2M in March..... wont last long with hardly any revenues...
Revenues in line with market expectations.
Great the order book showing clear recovery with revenues banked already significantly up on the h1 figure
During H2 FY2024, the adverse investment conditions, although improving, continued to impede certain clients placing orders, with some pipeline projects yet to convert and some being received later than anticipated. In several cases this was due to availability of client provided materials. This resulted in revenue for H2 FY2024 being lower than was anticipated at the time of announcement of the H1 FY2024 interim results.
Who said they were recruiting more than they reducing....
The Company took steps to meet the challenges presented by the increasing headwinds in H1 through a significant restructuring exercise, reducing various costs including a 38% reduction in headcount.
And they have a little cash in hand but need those orders to keep coming. Finely balanced imo, will be interesting to see how the market reacts?