Allergy Thera. Share Price (AGY)

...from last year ....

Air Partner PLC is a United Kingdom-based aviation services company. The Company provides worldwide solutions to industry, commerce, governments and private individuals. The Company has two divisions: Charter division comprising air charter broking and remarketing and the Air Partner Safety & Security division. Market cap is around £54m.

AIR issued a trading update this morning for first 5 months of financial year and now expects to exceed expectations for FY ending Jan 22. The Group is debt free and has cash of £11.1m in the bank. Other than that no new financial numbers were provided but the tone of the update was generally upbeat and share prices reacted – up 8.15% so far today.

The company is “trading well ahead of pre-COVID levels” . As a comparison total revenues in FY19 were £77.5m. , in COVID affected FY20 only £66.7m. Similarly reported EPS was 5.4p in FY19, reported EPS in FY20 was 0.566p. Trading well ahead of FY19 levels implies a significant bounce in FY21 EPS is to be expected.

Strong operational performance has been driven across multiple segments – US Private Jets, Group Charter – and momentum is starting to build in UK Private Jets. Europe continues to struggle, a pattern which is expected to continue into next year, while Freight was strong early in 2021, but is expected to ease back....

...from WealthOracle

https://wealthoracle.co.uk/detailed-result-full/AIR/19

...from last year...

Company overview:
AGY is a visionary immunology business focused on R&D of allergy treatments and operating in Europe and looking forward to US market opportunity. The company specializes in diagnosis and treatment of allergy. What differentiates them is that average treatment in the market is of around 12-15 course injections, whereas theirs consists of 6. They have growing market share in EU and aim to enter the largest allergy market – the US, further supported by 8 new products in their pipeline.
AGY has generated a 25% pre-R&D increase in operating profit in 2020. Operating performance in 2016 was affected by big expenditures on R&D. 2020 gross performance has supported successfully the R&D investments in the group. The company has seen significant increase in cash with low movements in accruals. Cash is expected to further increase, and operating profit is expected to be 8% above expectations.
Latest report consisting the preliminary annual results are definitely in favour of the stock. Revenue grew by 8% reaching the Stockopedia forecasted figure of £84.3m. Net profit is above the forecast at £2.9m and gross profit is ahead of 2020 figures. We should note that profit for the year is significantly below the last year’s level due to high R&D cost (more than double the 2020). Outlook is positive and they have new trials coming

Projects:
in the pipeline currently is the vaccine for peanuts (VLP Peanut ex-vivo), which is undergoing a study, the completion of which is expected in Q3 2021. The results are important for the purpose of opening an Investigational New Drug application with the US FDA. They are in an exploratory field study of a Grass MATA MPL clinical development program.

Short analysis:

Cash up by 8.9% yoy
Net debt is negative, meaning cash comfortably covers the debt of the company
CA/CL =  3.17
Cash ratio = 2.20
Interest coverage = 8.21
P/S = 3.11
BV ps = 7.17, growing at 1.7% CAGR
Operating profit = £4.03m, compared to £8.3m
Gross profit Margin = 73.8%...

....from WealthOracleAM

https://wealthoracle.co.uk/detailed-result-full/AGY/162

https://youtu.be/KDf1lX98R7I

Did anyone attend the Investor Meet earlier today?

I could only attend for part of it, so would appreciate others thoughts.

I did pick up that the grass pollen allergen improvement of nearly 40% is a huge success and the regulatory bodies will often grant at as low as 20%.

Morning all, here's an update video from Manuel & team:

https://youtu.be/ZH5omT02aAU