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Looking forward to a Paul Hill / Martin Gouldstone interview in the near term. Might be further down the line to allow Martin to get a real grip on the business. We are all eagerly awaiting something :) I am also slightly nervous. When you have been kicked in the teeth as often as I have with ONC and other shares, you grow weary of any financial report when you have a steak ^^
New CEO needs to watch the first 100 days...tick tock tick tock. Mind you, his main concern will be the large shareholders, not small investors like us.
Yea I know... itll take time... i just wished id know how to best spend the time as what i have given to ONC has been consumed without return of value, instead with return of significant worry and insecurity.
My nightmare would be if they'd turned around and said they just decided it was not worth the husstle and they sold the business - silently working out a deal in the background. It would be upset about the years gone by and the missed opportunity
My hope on the flip side is that they are sitting around a table and working out a simple plan to go from here to the moon. The rocket (ImmunoInsights platform) is there, we already had a few launches with mixed results. Neil Armstrong (A. Hill) and Buzz Aldrin (M. Hall) are now both not there anymore, + they never really landed on the moon to begin with..... and ONC have a fearless team that has hopefully been made just as motivated and excited about pushing through this mess through company share options.
Let's do this Martin and team. Its a straight line and it should be just straight forward. ONC should be a money pit. We should be at full capacity, not knowing how to fulfil all the orders. Occasionally ONC should be throwing up large sums of hard stinking cash..and leave that for us to feed on....
Also just to add that i am aware that i am barking up the wrong tree, when complaining or commenting here. I also know that whilst may investment may be bigger than that of Barclays, it may be dwarfed by that of HSBC.
Balderton Capital III,LP 6,813,196shares 9.19%
Blind Trust (Richard Sharp) 4,891,444shares 6.60%
Credit Suisse 4,326,454shares 5.84%
BNP Paribas Arbitrage 3,850,408shares 5.19%
Chelverton Asset Management 4,000,000shares 5.40%
Dr Adam M Hill 3,689,734shares 4.81%
Genostics Company Ltd 3,335,659shares 4.50%
Mr Timothy Brian Bunting 4,856,717shares 6.55%
Hargreaves Lansdown Asset Management 2,717,717shares 3.67%
HSBC Holdings Plc 2,539,848shares 3.43%
state of affairs....
Ref selling the business, it's a risk, but would be highly illogical. The business has cash to operate for a while, which means everything is up for grabs, so why sell for pennies in the pound vs the time and money invested. I feel that's pretty unlikely, but we need comms on strategies to get the capacity utilised, as it should be a high margin business based on the current infrastructure. It's all plausible and doable in my view. Good time to buy in/add shares. We do need to hear from the new CEO though. Silence will not cut the mustard!! Honeymoon coming to an end.
According to the AIM rules companies are obliged to report annual financial within 6 months of the end of the fiscal year. No holding my breath. With CFO gone and new Head of Finance I am sure this could stretch out another month or two.
R00st3r, H2 FY2023 ended 31 August, so I think you are right, it will take a few months before we hear something on the financial results. However, the CEO needs to update the market in more broad, strategic and trading terms, soon!! Unless they just want the sp to drift to NIL!! Maybe it's a strategy, although I cannot see any benefit of it. I would like to think the new team is working hard in the background, coming up with a plan to rebuild confidence in the company. The IP is solid (fact) plus there is plenty of capacity to do samples (fact), so this is merely a commercial exploitation question = sales!
100%. There is probably a lot of stuff going on in the background.
1. On boarding - getting familiar with ONC business
2. Connecting with existing customers and building relationships
3. Introducing other exec relationships to ONC.
4. Defining sales strategy and building supportive business development and sales execution strategy
5. Establish roadmap for sales, lab capacity, digitalisation etc.
6. Crush it
But you are so right - it's time we hear something. It has been quite a number of mo ths since meaningful trade updates were delivered. Perhaps some information was muddied by the sale of ONC non core assets (Oncimmune Ltd.).
But I will be cup half full today. They are working out a brilliant pitch to the investor group that will have us frothing from the mouth. I do think that Martin brings the credentials both in Corporate Finance and Biopharma . I hope he uses his CF experience not for an immediate takeover case ^^. Like you mentioned though I also think it would be nonsensical at this stage especially after already selling a big chunk of the business for peanuts.
Looks like MG is still getting stuck in.
At least he hasn’t now done a runner!
Finance results will include EarlyCDT lung revs and should also show the early cdt lung final sale income from May.
So cash and debt should look more favourable.
Should, should!
Let’s see!
If it does balance out then I would expect SP to reset to 30’s pdq.
This market is punishing debt due to rates. If we can show a debt free glidepath from new revs then this will rerate significantly. If not then single figs are possible.
I sold in 20’s and bought back again in teens. Just a small position now though.
Hope this does well both for holders and ONC. I am quietly confident they will turn it around.
Usual caveats
Trek
Interesting updates. You can tell that the leadership team is focussing on establishing sales structures that cater for different customer segments but as it looks all gearing to supporting long term partnerships, becoming an essential partner in CRO cycles and generating revenue through existing and new long term MSAs. CAPEX significantly reduced as the upfront lift of establishing a competent sales team in US and UK was done over the last couple of years and with that getting these key account MSA's signed. Hopefully we can see demand picking up and and lab facilities being used at higher capacity.
New strategy means some more from the old guard are leaving and the focus seems clearly on generating long term sustainable revenue and doing more of the above.
I suppose this years number will be a bit skewed again because of the Onc Ltd. Balances being included still. Will be interesting to read in the coming weeks/months.
Sorry....CAPEX reduced due to sale of assets to Biodesix and Freenome whilst longer term revenue secured at least for next couple of years. OPEX I think overall down due tonlower overheads. Not sure how the employee salaries play into this number as many expensive new hires incl execs but also terminated contracts. More sales improves bottom line as more lab capacity used. I feel it is currently heavily under capacity (probably around 20-30%)?
I agree, everything sounds very sensible. If they are at 20-30% capacity then I would be more than happy, as I think they have been running at a lot less during the first half of the financial year.
I like the clarity and focus. This is all about ramping up the numbers.
The proof is in the pudding - let's see the numbers.
It may be another year before we see real, significant progress, but that's OK! The share price will then follow suit!!
I am actually for once super optimistic. Think we must have hit the bottom.
https://www. v o x markets.co.uk/articles/oncimmune-shifts-strategy-to-accelerate-commercial-expansion-871f174/
Difficult to say, could also reach 10p until we start seeing financial progress tbh. Almost random until we have more news. Having said that, most investors, including the large investors, are holding on to their shares; very thin trading.
I am also very optimistic.
The large investors are no doubt waiting patiently for a corporate takeover/exit. They paid a lot more for their shares than the current price, so lowball offers should be rejected.