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I was in for a period of time, but got out at £1 before the collapse of the medical trial. Order book has shrunk, now £2M lower than before. Cash flow in H1 was negative (even operational cash flow was negative). Market cap of $36M with $7M cash balance but true profit for 2021 most likely will come in below $1.5M. So PER of close to 20... but the problem is negative operating cash flow...
Nice to see these contract awards rolling in regularly.....
Small volume always a problem
MM's been desperate to drop this all day, down nearly 7% on 26 trade.
Old trader, CIP Merchants Capital are Continental Investment Partners, run by Marco Fumigalli.
I understand that it is mainly Italian and Swiss family money behind the funds.
They were the cornerstone investor behind Sound Energy then Echo Energy and Coro Energy.
I did very well with Sound and got out in time but other people may have a different view.
I have met Marco a few times and would say that he is someone who knows how to make money.
So hold on to your golden tickets and enjoy the ride.
Very significant that this trial is in a new area, stroke, could open up a few new doors
Positive trading update:
Good update, especially the significantly reduced value for the envisaged adverse revenue impact for the Huntingdon trials reduced scope versus the worst case 100% cancellation of scope scenario impact details that was published via RNS on 23rd March....
This created an excellent oversold buying opportunity.
Can someone tell me who are Merchants Capital please
very good recovery from 56p ,nice
IXICO PLC
GBX 81.06
10.29%
+7.56 Today
nm
Someone sees this as a bargain. A good sign.
Are Cenkos still broker and nominated adviser to IXI they are not on todays announcement
Agreed. Trials fail. It's very much part of the process. Huntington's is proving difficult to crack but the fight will go on and there will be new trials. The, IMO, over-reaction of the market is simply a buying opportunity for sure.
IXI's SP now seems to be stuck in the 60p's for a bit but I'm comfortable holding here after averaging down on the drop. IXI will re-group and search out new contract/s to fill the void (and let's not forget the collaboration with Microsoft)
Hopefully, the next bit of news from IXI will be positive and the SP will head north again.
Those of us who have held shares for over 10 years are familiar with trials ending with failure. Seems some investors think it is always a "yellow brick road." Getting out at £1 and over was shrewd and buying back in below 50p could soon be an option.
It seems to me as though IXICO has just done it job, well, and identified the treatment won't work. The messenger is being unfairly blamed for the message.
It is a pity that the treatment has failed its trial but there is no failure in IXICO identifying that.
So the drop appears to be unfortunately aligned to the trial results and not to analysis. If Roche have been helped to identify this more quickly than might otherwise have been expected and have saved money as a result then hopefully the drop will be fairly temporary.
Thanks Pharmagiles very interesting.
It looks to me as if there could still be a decent amount of revenue to come from the contract though obviously much less than expected.
Let’s hope that Roche give them some other business to help compensate.
Will we see a Proactive investors interview or are they reserved for good news.
Thanks for this. Yes, I believe you are rights and it's Roche's Tominersen. Bad news for Roche, Ionis, Ixico and shareholders (of which I am one) but much worse for those affected by Huntington's of course.
I'm hoping the massive share drop today was overdone and will look for something of a recovery tomorrow. There already seems to be a large buy at 84p.
GLA
Just started researching IXI but the link below may be of interest (update from Roche yesterday). Assume Roche is the large pharma client mentioned in today's IXI RNS (not many other companies in Phase III for HD)
https://www.roche.com/media/releases/med-cor-2021-03-22b.htm
wow i didn't see this coming after Microsoft contract
I have just bought some as well for the first time. I have followed IXI for a year now and recently just thought they were looking a bit pricey - never thought I would get an entry point like this. I agree the fall looks overdone. They have gone in the bottom drawer!
This near 40% drop in SP seems a wee bit overdone based on the RNS contents.....just taken a few as I liked the Microsoft collaboration news from last week and so I would expect them to bounce back ok in the coming months....