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Msuk.int,
Of course they will have sales... But, revenue of £374k resulted in the use of £352k cash... They saw nearly £1 out the door for every £1 in turnover. At that rate they will need more funds in the Summer.
Biostatistics service line
The Company was excited to announce its intention to develop a separate consulting service line focused on the delivery of biostatistics projects. Several complementary options are being pursued simultaneously to build out this new capability and a further update will be provided to the market towards the end of the current financial year. We anticipate that, if successful, this new service line could make a material contribution to the Company's revenues and bottom line in the financial year ending 30 June 2025
Not if they are breaking even or better. Time to get some of the pipeline converted. Good update, next 6 months really important in trajectory of the company. Come on Pete.
Why do you say this ? are you anticipating that #pyc will have no sales for the next 298 days ?
Net cash generated from / (used in) operating activities (352)
Cash and cash equivalents of £403k at 31 December 2023
At that rate, they will need more funds by August.
Ahceiving £1mln for 2024 would make a mockery of current market value
PYC should be q much higher market value
As debull says
Losses coming down
Client mix improving
Pipeline growing
Cash equivalents healthy
Meeting market expectations and significantly higher than 2023
Not many companies can say the same
Loss per share is 0.15 and was 0.24. A loss yes, but the loss is getting smaller.
Yes, reassuring.
in line with market expectations,.
The Company's pipeline of potential new business now stands at over £1.5m
The Company's pipeline of potential new business now stands at over £1.5m (not risk weighted and excluding Biostatistics), counting only opportunities where a specific project has been discussed with a client. The Company is working hard to both convert opportunities that have progressed to proposal stage and also to refill the funnel with earlier stage opportunities. A significant number of new client contracts are now originating from both scientific conferences (such as EORTC-NCI-AACR & AACR Annual Meeting) as well as more business focused meetings (such as BioEurope) and as such the Company intends to significantly increase its presence at such meetings over the course of this calendar year
The Directors are pleased that the Company is on track to meet expectations, which, if achieved, would mean a significant increase in total income compared with the financial year ended 30 June 2023
They have shareholder funds at half year of £672k v market cap of £1.8mlm and importantly costs will come down eg new flexible office e
They have RE ITERATES full year guidance (£1mln) so are clearly expecting a good next 3mths
Https://www.physiomics.co.uk/about/team/
Mistry still on webpage?
If unable to open previous link.
https://www.physiomics.co.uk/about/careers/
Dr Hitesh Mistry is currently named in that position, has he finally parted ways with Physiomics?
Doesn’t seem much confidence with a positive result tomorrow.
Meanwhile, new post being advertised “Principle Consultant”.
https://uk.linkedin.com/jobs/view/principal-consultant-head-of-modelling-at-physiomics-plc-3848190072
I was aware that he has other non-executive directorships which he openly admits take up very little of his time
The position at Karganera is as an executive one, unlike that at PYC
Right across AIM shares,of all market capitalisation volume has been the lowest for years according to some .
Certainly I have noticed a marked change in the last 12mths ,
As for JM he has always had several other roles and is "fully committed " according to the Q and A
Usually PYC state if they at attending I think ?
Who knows Trench.
I think a question like this has been asked before in previous IM, where Millen said he was a member of other boards, but that it took nothing away from his time at PYC?
You would have thought with interims due on Thursday, that there would be more volume, but hardly anything.
Bicycle are attending AACR2024, i wonder if Physiomics will be?
Https://www.kargenera.com
Jim Millen is a Director here. Has he been fully focused on PYC in recent months ?
The £137k grant covers the two-year study through to October 2025. Income will be credited to each accounting period on a pro-rata basis depending on the work completed in that period. It is likely that the initial scoping out work would have started before 31st December 2023 but I would expect that the amount to be credited for this work would be relatively small
Hence Physiomics will receive £137,376 over the course of the Project which will start immediately
I do not believe there will be much grant income in the half year to 31st December 2023. Time spent on the new Blackpool Victoria Hospital study would be minimal by that date and the old Portsmouth Hospital work was complete by early 2023
Maybe I am missing something ?
They are reporting on the half year which are a) known b) under Jim
When Peter did the presentations recently they've had every opportunity to state whether they are no longer targeting the "best ever income of £1mln" for full year June 2023/24 so one would hope Peter wouldn't be foolish enough to over promise
Looking at the income and contracts H1 it looks like about £350-400k H1 (£125k + £130k grant income + 3 or 4 other contracts)
Does Peter have a "free hit" here, if they are disappointing ( possibly ) it could be said that the numbers are down to Jim, or too many intangibles for this?
They also tweeted about Project Optimus yesterday ( the same tweet has been sent out before ) but they did not put #PYC after it.
They on;y put the hashtag on a follow on tweet which also had a spelling mistake. Not very professional.