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Share Price Information for Eden (EDEN)

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Share Price: 4.35
Bid: 4.20
Ask: 4.50
Change: 0.00 (0.00%)
Spread: 0.30 (7.143%)
Open: 4.35
High: 4.35
Low: 4.35
Prev. Close: 4.35
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Eden Research profit warning overshadows commercialisation deal

Wed, 21st Dec 2016 08:41

(ShareCast News) - As well as signing a commercialisation deal for its environmentally friendly pesticide with a US chemical giant, Eden Research warned on Wednesday that full year earnings would be lower than expected.AIM-listed Eden is transformed its business model from technology licensing to product sales, which it said had resulted in lower upfront payments, with the effect exacerbated by a delay in receiving regulatory approval in certain territories.Sales of its 3AEY plant protection product reaped more than €1m at distributor level, with over 85,000 litres sold, which was well above what Eden had forecast.The company issued financial guidance for the year, with revenue expected to be circa £0.4m, an EBITDA loss of roughly £1.1m with a net cash balance at the year end of around £1.4m.The company said it had signed an exclusive agreement with a subsidiary of Eastman Chemical, with which it has been working since 2014.Eastman will pay Eden an upfront fee, as well as annual milestone payments until 2019 when it is expected that sales will commence, and will also take on the responsibility for the registration of 'Cedroz' across 29 countries, including the largest markets for nematicide products globally.Chief executive Sean Smith said, "Eastman has been a leader in nematode control for several decades, and through their market development of Cedroz, they will extend this position and grow in the important post-fumigant nematode control market with an effective and safe bio-control product developed by Eden."Eastman's global reach and the robust, versatile and unique technology and formulation expertise that Eden has provided should produce a strong solution for growers challenged with the control of these pests that affect global agriculture by lowering crop yields."House broker Shore Capital had been forecasting revenue of £1.7m, EBITDA of £0.2m and net cash of £2.4m, and so after the statement said it was putting its forecasts under review."Overall, we believe the agreement with Eastman is encouraging as has been the performance of 3AEY during the year but the financial performance is disappointing," analysts said. "The underperformance is a function of the decision to evolve the operating model of the company which we presume is because of the enhanced returns on a longer term basis at the cost of the short term gains alongside slower than expected regulatory approvals. "Shares in Eden, having recently recovered close to six-month highs, fell 20% to 11.25p by Wednesday aftrernoon.
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3 Jul 2023 15:58

Eden Research applies for Ecovelex approval in the UK

(Sharecast News) - Biopesticide specialist Eden Research announced its application for the authorisation of 'Ecovelex' in the United Kingdom on Monday, following its recent application in the European Union.

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29 Jun 2023 14:11

TRADING UPDATES: tinyBuild bemoans disappointing interim performance

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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22 Jun 2023 15:44

UK shareholder meetings calendar - next 7 days

Friday 23 June 
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Mears Group PLCAGM
Non-Standard Finance PLCAGM
Ocean Harvest Technology Group PLCAGM
Oxford Biomedica PLCAGM
Pelatro PLCAGM
Petrofac LtdAGM
Princess Private Equity Holding LtdAGM
Rathbones Group PLCGM re agreement regarding all-share combination with Invested Wealth & Investment Ltd
Supply@Me Capital PLCGM re open offer warrantholders
Vietnam Enterprise Investments LtdAGM
VPC Specialty Lending Investments PLCAGM
Monday 26 June 
Aterian PLCAGM
Capricorn Energy PLCAGM
Corre Energy BVAGM
Facilities by ADF PLCAGM
Lexington Gold LtdSGM re proposed acquisition of White Rivers Exploration Ltd
LifeSafe Holdings PLCAGM
Premier African Minerals LtdAGM
Vast Resources PLCGM re issuing new share capital
Volvere PLCAGM
Tuesday 27 June 
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Comptoir Group PLCAGM
Creo Medical Group PLCAGM
First Tin PLCAGM
Forward Partners Group PLCAGM
Galantas Gold CorpAGM
Gemfields Group LtdAGM
Golden Prospect Precious Metals LtdAGM
Hamak Gold LtdAGM
ICG Enterprise Trust PLCAGM
Impellam Group PLCAGM
India Capital Growth Fund LtdAGM
Inspiration Healthcare Group PLCAGM
Instem PLCAGM
JD Sports Fashion PLCAGM
Kingfisher PLCAGM
Mercantile Ports & Logistics LtdGM re equity fundraising
Mobile Tornado Group PLCAGM
Revolution Beauty Group PLCAGM
Scottish Mortgage Investment Trust PLCAGM
Serabi Gold PLCAGM
Sondrel Holdings PLCAGM
Surface Transforms PLCAGM
Surgical Innovations Group PLCAGM
Trinity Exploration & Production PLCAGM
Wednesday 28 June 
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Avacta Group PLCAGM
Boku IncAGM
Cambridge Cognition Holdings PLCAGM
Cizzle Biotechnology Holdings PLCAGM
Cobra Resources PLCAGM
Cora Gold LtdAGM
Dial Square Investments PLCAGM
Itaconix PLCAGM
NB Distressed Debt Investment Fund LtdAGM
Panthera Resources PLCGM re directors’ authority to allot shares
Phoenix Spree Deutschland LtdAGM
Pineapple Power Corp PLCAGM
Polarean Imaging PLCAGM
RA International Group PLCAGM
Schroder European Real Estate Investment Trust PLCAGM
Shield Therapeutics PLCAGM
St Mark Homes PLCAGM
Star Phoenix Group LtdAGM
ValiRx PLCAGM
Velocys PLCAGM
Vertu Motors PLCAGM
Warpaint London PLCAGM
Westminster Group PLCAGM
Zenova Group PLCAGM
Thursday 29 June 
3i Group PLCAGM
Africa Opportunity Fund LtdAGM
Anemoi International LtdAGM
Anpario PLCAGM
Ariana Resources PLCAGM
Beowulf Mining PLCAGM
Celadon Pharmaceuticals PLCAGM
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East Imperial PLCAGM
East Star Resources PLCAGM
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Engage XR Holdings PLCAGM
First Class Metals PLCAGM
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Helios Underwriting PLCAGM
Ingenta PLCAGM
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NetScientific PLCAGM
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Rockhopper Exploration PLCAGM
Roquefort Therapeutics PLCAGM
Serica Energy PLCAGM
SpaceandPeople PLCAGM
Symphony Environmental Technologies PLCAGM
Synairgen PLCAGM
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Verici Dx PLCAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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15 Jun 2023 12:00

Eden Research inks deal with Colombia distributor

(Sharecast News) - Biopesticides specialist Eden Research announced the appointment of Anasac Colombia on Thursday, as the exclusive distributor of 'Mevalone' in Colombia.

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15 Jun 2023 10:19

Eden Research shares jump on first distribution deal in Colombia

(Alliance News) - Eden Research PLC on Thursday said that it has appointed Anasac Colombia Ltd as the exclusive distributor of its Mevalone product in Colombia.

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15 Jun 2023 09:49

AIM WINNERS & LOSERS: Amte Power plunges on urgent need for financing

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Thursday.

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4 Jun 2023 15:02

Sunday share tips: Eden Research, Lok'nStore

(Sharecast News) - The Financial Mail on Sunday's Midas column told readers that shares of Eden Research should more than quintuple in price as it reaps the fruits of its "huge" progress in recent times.

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30 May 2023 14:25

Eden Research seeks approval for seed treatment in EU and UK

(Alliance News) - Eden Research PLC on Tuesday said that it has applied for its Ecovelex product to be approved in the EU, and also intends to pursue authorisation in the UK.

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15 May 2023 17:13

TRADING UPDATES: Eden Research gets regulatory approval in New Zealand

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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12 May 2023 11:05

AIM WINNERS & LOSERS: Eden up on US green lights; Blackbird loses deal

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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12 May 2023 11:04

Eden Research receives US approval for sustainable biopesticides

(Alliance News) Eden Research PLC said on Friday it has received regulatory approval in the US for its formulated sustainable biopesticides products, with Cedroz cleared in California and both Mevalona and Cedroz cleared in Florida.

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12 May 2023 10:56

Eden Research gets product approvals in California and Florida

(Sharecast News) - Biopesticides developer Eden Research announced the receipt of regulatory approvals for its formulated products 'Cedroz' in California, and 'Mevalone' and 'Cedroz' in Florida on Friday.

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5 May 2023 12:04

Eden Research losses narrow as it expands product reach

(Sharecast News) - Eden Research reported an increase in revenue in its 2022 preliminary results on Friday, to £1.8m from £1.2m in 2021.

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5 May 2023 10:31

IN BRIEF: Eden Research annual loss narrows as revenue rises

Eden Research PLC - AIM-listed biopesticides and plastic-free formulation technology company for use in the global crop protection, animal health and consumer products industries - Posts revenue of GBP1.8 million for 2022, up from GBP1.2 million in 2021. Pretax loss narrows to GBP2.6 million from GBP3.4 million, as gross profit increases to GBP830,160 from GBP561,237 a year earlier. Looking ahead, says it is working hard to move forward with new products including insecticides, seed treatments, and optimised fungicides.

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17 Apr 2023 15:30

Eden Research receives regulatory authorisation for Mevalone in Poland

(Alliance News) - Eden Research PLC on Monday said its flagship biofungicide treatment Mevalone has received regulatory authorisation in Poland.

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