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Apart from this, I am still a loyal shareholder.
clio, agree, umg isn’t good enough but the multinational won’t show until revenue is a lot higher, led up the garden path by sa .
woundcare, we were speaking to about 5 interested parties, apparently could of had a deal then there was just 2, witch sa said he was playing them against each other, and now we are doing it all in-house, costing sbtx money and about 3 years wasted on bull****
Elrico, do you mean UMG as a partner on Axis? No doubt they would do a good job of it in their home regions but does that not just make them a distributor, the route that we shunned for a global multinational years ago?
Ref partner. How about UMG? It's a no-brainer, IMHO a dead cert.
Improving the feet of the Indian sub-continent will enhance Ashman's standing in foot care!
I also believe the opposite, SA has said a couple of times that the multinationals would understand low marketing budget equals low sales and that they are more interested in ensuring SBTX is not a ‘one trick pony’ before doing a deal. I’m sure acne is a much greater market that psoriasis. As is eczema.
I think the multinationals will see the delivery vehicle for the product is poor. It has long been a bugbear of mine that consuming the product is just a faff. I tried myself several times and never made it past a few days. I now use a different brand which is capsule based and take that product every day without fail. At the end of the last series of Dragons Den a couple pitched a food supplement containing vitamins and minerals supposed to help with libido and it took the form of a powder to mix in water. The feedback from the dragons was that the product needed to be easier to consume and they suggested tablets or gummies. The multinationals will know all this, however bad sales to date doesn’t exactly put SA in that excellent negotiating position he goes on about. He would certainly be in a stronger position if they sold more. I don’t fully buy the argument that it is all down to a really low marketing spend. For the combined salary of SA and MR along with the non-execs on board I would expect the ability to create something from nothing.
Farris, I don’t believe that to be correct.
Im sure that SA hinted that acne and axis need to get to 1 million turnover before any major distributor turns up.
Whilst the management team don't bother to share their plans on Acne and seem to take forever to add up a few numbers. They clearly don't know how to monetise the product, they are overpaid and out of their depth. In the meantime the SP heads South as the only hope for SBTX is Croda and when it finally delivers SA will be shouting from the rooftops about how great the company is, pathetic really.
Sounds, SOH at Opti has been ploughing the trades fair route for years with clinically proven products and funding marketing by selling Skin shares and latterly a placing with little success, and now relies on a big partner (Dr Morepen) in India for Slimbiome and a US Partner and Firmenich/DSM for the sweetbiotix launch to transform its fortunes.
The Umesh Modi deal was negotiated long before Skin took the helm and considering it was launched March 01st and there is still no internet presence for the "Pheet" brands then suggests comprehensive internal sales training of its 1200 marketing staff is taking place and no doubt a big bang advertising campaign has been planned which could significantly boost the sales of Dermatonics already profitable products. Like Toyin, I was not a fan of the acquisition strategy, but on reflection the telling interview with Croda where we informed a project of this nature typically takes 7 years and it is remarkable that it is to be concluded in 5 years, illustrates how Skin has been led down the garden path in terms of launch dates going back to 2021, and hence left SA little choice but to seek some sort of insurance against further delays in the skinbiotix launch.
Sounds, that isn’t what we do, we have “blackbox science” we cant do what Croda do or what Modi do. Couple of examples, Croda are potentially selling our science to over 12,000 customers, Modi have started selling our products in six countries through a sales force of 1200 people, how much would it cost for us to do that, from scratch? It would cost us £100s of millions and years to gain a reputation and customer base the likes of Croda or Modi. Croda have already spent circa €6m in the last four plus years just getting the lysate to market. It's not as simple as getting a sales team together and hawking our wears around.
Toying, that's the problem with the strategy of relying on other companies to drive sales be it Croda or Modi- on paper it makes sense but in reality you aren't in control. SBTX could develop it"s own sales team incentivised for sales delivered and SA and others could start hawking our wears around trade shows. Here they will find company buyers and a place where you can do deals. Instead we went for soft launches, paid internet nobodies who apparently influencer folk and have opened an Amazon account. I like the product but struggle with management's strategy.
Sounds, I agree with your frustration but as Aquae points out we need a partner with deep pockets. It's not that we dont know how to sell, it's the fact that, a) we dont have the budget to do it and b) we are not a b2c business, that's why we need acne results asap to bring on board a multinational.
Regarding Dermatonics, it's way too soon to say if we paid too much, we will have a better idea when we get the Modi forecast. The narrative from TW is it's too expensive, too dilutive and will guzzle cash for the next two years, this is what pi's have listened to and the company has not been able to counter this argument. Having seen the size of Modi, I think TW is 100% wrong. I wasn’t particularly enthralled with the whole acquisition plan but I understand why SA has decided to go down this route. We have to remember management were anticipating revenues from Croda in calendar year 2022, then 2023, Croda have kicked the can and SA has decided he wants to take more control of the companies destiny and not rely on others. Needs must and I would’ve done exactly the same.
We need the CB clearing, Modi forecast and Croda forecast asap. When we get any two out of those three, we will be in a completely different place.
That's my biggest issue with SBTX is they have no clue how to sell the core product. To counter this they have bought another company which knows how to sell it's product (me personally think at way too high a price), but the main issue it will be run by a company that has no clue how to sell. Remember a time when SBTX was trusted and prided itself on delivering promises (pre-revenue days). Now we just stumble forward day to day as management don't know how to sell. If only management could see this and bring on a proper sales strategy. :(
Concur totally Toyin, the acne results will be positive but we do need a partner to bear the marketing costs and make it a commercial success. Manprit mentioned at the last Investor Meets presentation that £100K had been spent on marketing for Axis-ps last year which doesn't look good against just £123K revenues although the high retention rates means at least it does not have to be repeated to maintain a stable user base, just to generate new customer interest, but does emphasise the need more a partner with deeper pockets.
Baz, I believe the acne results will be very good. We know Axis Ps already helps with acne, plus the interim data from the acne study was very positive, it will work. Then hopefully we can get the pillar away to a multinational pdq!
I’m sure the acne trial, will be a positive one.
Like axis, we have great products, but we need to also sell them well!!
Hope so, still need some good news on Acne though not sure why it takes so long.
Baz, relax, it’s the CB being worked. If you look at the trades there is a sell with an identical amount straight after at a slightly higher price, this is just a transfer from the seller to the buyer.. This is a good thing it means SA is dealing with it, I believe it will soon be flushed through.
Lots of big sells today, has news leaked that Acne bombed? Come on Stu what you got?
Mostly buys today but MMs kept the SP low, need some news on Acne, how long does it take for the CFO to add up a few numbers. The ridiculous delay plays into the MMs actions. Come on board wake up and share something interesting, that is as long as it is interesting news.........
GLA
Disco, Croda will start selling the lysate in June, so yes, we will get revenues in H2.
Hope you're right Clio, it's been quiet recently.
I'm not putting much faith in the bi-monthly updates. I want to see a proper RNS with actual tangible info.
We were supposed to see a transformed company by the end of the 1st quarter. I'm hoping the timeline has only slipped to the second quarter.
We are due quite a few updates soon, the main one I'm interested in is Croda, which I'm hoping is in June or July.
Aren't we meant to have income from Croda in the 2nd half of 24?
Was intrigued to click on an SBTX page displayed on the Investors Chronicle website which doesn’t display much information but says “The one analyst offering a 12 month price target expects Skinbiotherapeutics PLC share price to rise to 48.00 in the next year from the last price of 9.25.” I think that’s reasonable given what we know currently.
We should expect another investor meets company presentation in the next 2-3 weeks based on SA’s commitment to provide a bi-monthly update. There is a potential for any number of things to come from that. Here is to a good May!
We had a great video from the Croda project lead lady that confirmed we are at the end of the project at the last invest meets presentation about a month or so ago, that's the first time we've heard directly from Croda. We also had a video from the chap at Dermatonics which talked about the Modi group opportunity, I would say that is all very positive. I would imagine SA is flat out trying to clear out the remainder of the convertible loan facility. That would be the best news we could get in the near term. Until then, IMHO the SP will not budge as the market fears the remaining conversions dragging the price down. That's all that's stopping me piling in. In the meantime a little top up here and there to bring my average down is all I'm comfortable with.