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Tanks Pugg1ey. Yes I did miss that rns. I wonder what time scale this will put the company back.
you clearly missed the other RNS about the FDA wanting more info around CCP-07 Vernalis plc announces today that the US Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the New Drug Application (NDA) for CCP-07. A CRL is issued by the FDA when it has completed its review of an NDA and questions remain that preclude its approval at this time. The CRL did not raise any concerns with the formulation or pharmacokinetic profile of CCP-07 but did identify outstanding items that need to be addressed prior to the resubmission and approval of the NDA. "We remain committed to the approval of CCP-07 and will work closely with the FDA to resubmit the NDA as quickly as possible" said Ian Garland, CEO of Vernalis plc. Vernalis plc announces today that the US Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the New Drug Application (NDA) for CCP-07. A CRL is issued by the FDA when it has completed its review of an NDA and questions remain that preclude its approval at this time. The CRL did not raise any concerns with the formulation or pharmacokinetic profile of CCP-07 but did identify outstanding items that need to be addressed prior to the resubmission and approval of the NDA. "We remain committed to the approval of CCP-07 and will work closely with the FDA to resubmit the NDA as quickly as possible" said Ian Garland, CEO of Vernalis plc.
No mention who paid the $2m, could been dropped for mates rates.
A buy
That £63k trade must of been a sell. Strange.
Not a bad rns at all so why would the sp drop 18% on news of company receiving $2m?
$2million received .
http://www.vernalis.com/media-centre/latest-releases/741-vernalis-plc-receives-a-2-million-milestone-payment-from-one-of-its-drug-discovery-collaborations LSE bit slow on the uptake.
http://www.edisoninvestmentresearch.com/research/report/vernalis34/preview/
Seen that there a few questions about the gap between sales volume growth versus sales revenue growth. This is a recent detailed report on Vernalis operations and revenues, might help make sense of some of the numbers and some indication of future strategy. https://www.simpvestor.com/plcprofiles/2017/2/25/vernalis
Though i previously thought of this share as a buy, it has now broken through the support and is still on a downward spiral. There are many good points to this share, but the new drugs are not due to hit the market until next winter season and with the Interim results just been released, is there likely to be more news come out in the near term? AIM likes to take the share prices down on no news. If you take a look at the chart I have linked below the next line of support is at 18.6p then all the way down to 2.4p, though I doubt it will get to 2.4p you need to be aware of that price. http://www.chartupload.com/viewer.php?file=03071712843599230009.png If you wish to buy into this then I would advice staggering your buys, holding cash to buy at 18.6p and also when it hits any of the trend lines. As for the recent figures that look wrong, what has happened is Tuzistra prescription sales have increased massively but the revenue has not increased in line with the sales due to lower sales from their drug, Frovatriptan. Do not be fooled by today's rise and possible a rise on Monday too. This is due to a BUY rating from Investor Chronicles. GLA
My guess is that revenue is largely from stocking by pharmacies. Tuzistra is almost certainly sold in American pint or quart bottles and then dispensed to doctors' patients in much smaller quantities. This would mean that there is no simple relationship between prescriptions written and revenue to Vernalis. Things are further complicated by coupons handed out by medical insurers. I have no clue as to the workings of these, but as they work to lower the end cost to the patient, someone must pay for them. Whatever the truth is, the results are extremely worrying to me. 100 salesmen must be expensive in relation to revenue of only £800,000 ... and 100 is not many to cover half that number of states. Additional products are not due to arrive thick and fast. Even Moxatag, purchased and ready to go, has hit supply problems due to the Irish manufacturer going belly-up. I reckon Vernalis has under-estimated the task of breaking into this market. Will the cash pile of £70m be enough? Might it not be better spent on the kinds of research that Vernalis has shown itself to be good at? The timing of the announcement of the milestone payment from Corvus just days before the interim results was well judged to deflect from the very bad cough/cold results. Mr Garland's oft repeated words of excitement about the transition to a commercial pharmaceutical company have worn thin for this investor. So thin that I am reminded of the Emperor's new clothes! My investment in Vernalis is part of my pension fund. Do I get out now? ... or do I hope that a couple of the big institutional investors take action to steady the ship? I guess that one of them has shored up the share price by steadily increasing its stake. Will it now use its strength to make changes before it is too late?
Where in the report is the income from Tuzistra sales specifically mentioned?
yeah really strange.
The tuzistra prescription sale increased six fold but the revenue it produced didn't? I would get out whilst you can, the management are awful
Yes, stagger in and stagger out. Watching this, too. GL
Good place to buy in imv. I've got a small holding which, if it does drop a lot lower I will add to. I don't believe in buying into a share big time. I'd rather stagger buys and have more companies. It's very possible it could drop more as next year should be when things hot up. I'd just rather have a small holding in case there are no further drops. As they say, buy when others are selling. Gla
I'm out too few months is enough to be tied in expecting a bounce gl holders
Vernalis plc is pleased to announce the achievement of a clinical milestone from its collaboration with Corvus Pharmaceuticals Inc ("Corvus") triggering a payment of $3 million to Vernalis. In February 2015, the Company licensed exclusive, worldwide rights to its adenosine receptor antagonist programme, CPI-444, for use in all therapeutic applications to Corvus, a US-based biotechnology company focused on developing novel immuno-oncology therapies. CPI-444 is a patented small molecule that is now being evaluated in a Phase 1/1b trial in patients with advanced cancers. It is the lead molecule in Corvus' pipeline and is being developed both as a single agent and in combination therapy. The clinical trial utilizes an adaptive design that allows expansion of disease-specific cohorts upon reaching certain pre-defined endpoints. Corvus announced positive data from its Phase 1/1b study in January 2017, having achieved the clinical study protocol criteria for expansion in the cohort of patients with renal cell carcinoma with single agent CPI-444. This study expansion triggers the first clinical milestone payment of $3 million under the licensing agreement. Corvus has stated that, if early findings are confirmed with longer follow up and a larger set of patients in this expanded study, a registration trial could commence by the end of 2017. Corvus was launched through a $33.3 million Series A fundraising in 2014 by the founder and former senior management at Pharmacyclics Inc and it raised a further $74.8 million Series B fundraising in 2015 and $70.7 million via a US IPO in March 2016. The licensing deal has the potential for Vernalis to earn approximately $220 million in milestones from all indications, subject to development, regulatory and sales milestones being achieved. In addition, there are mid-single digit royalties payable if a product reaches the market, with the potential to reach low-double digit royalties in certain circumstances. Ian Garland, CEO of Vernalis commented "We are delighted with both the speed of progress of CPI-444 and the promising indication of single-agent activity in renal cell carcinoma patients as well other disease cohorts. Corvus has a wealth of clinical and commercial expertise and continues to demonstrate that it is an ideal partner for the program. We will watch progress with a great deal of interest over the remainder of 2017."
Guys, I was in this stock @ roughly 15% under placing @ 35p- thinking a bounce was coming, but i'm out after it dropped below the 30p region today.... WATCH OUT GUYS, this share is mostly owned by institutes so if they decide to sell after their 6 month restructure - this share may take a beating. But considering the book value for this share is quite high, and they're is considerable cash burn... I'm going else until this drops to fair value , which in my opinion is 18-17p
Anyone else bored outright holding this!?
RNS stating 21 February the date when results will be released.
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