The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Agree, not great news. My hope, no doubt misguided, is that most of this is already priced in. After all the share price has already halved for what should be a 'safe' haven in turbulent times.
The same thing happend with Amryt Pharma in November last year. Barclays at that time said they couldn't hold Nasdaq ADRs in an ISA Account. From what others have written this may not have been quite accurate. I then checked the position regarding selling and rebuying in a SIPP account (not with Barclays). I was informed that you can hold ADRs in a SIPP, but that you wouldn't be able to trade them as per a 'normal' share. I chose to sell Amryt, rebought in a nominee account and waited for them to be converted to ADRs. That transfer was pretty straighforward. The subsequent drop in the Nasdaq has meant that actually the better plan would simply have been to sell the holding! Also, just to note, there are tax implications with such holdings held overseas (assuming they go up...lol)
I forget the precise figures, but from what I remember Amryt justified the transfer to remove the cost of the dual listing and that c90% of trades in any one day were on the Nasdaq exchange.
Sadly, I suspect more companies will choose to follow Abcam simply because there is a far larger market in the US for trading shares. Given this possibility, I equally suspect more brokers ( and regulators) will in time facilitate the process to transfer holdings in order to not lose out on investments that move overseas.
Thanks Dartron for the informed analysis. Helpful.
My view is that these are impressive results, unquestionably so, with much to look forward to in the medium to long term.
I can't explain the fall in profits, but as a passing thought, there have been ongoing issues with the Becton wharehouse element of the business, mentioned in several of the past RNS statements. The Becton problems are again only mentioned in passing, linking poor performance to high street retail sector issues. But I've yet to find anything that quantifiies the level of loss in this part of the business,. It would have had to have been pretty substantial to have had an impact across the business as a whole. The 'smoothing' of turbulent times across the business also seems to have had some impact on the level of cash flow. So I'm not surprised by today's fall, particularly given the CEE exposure, even if it has to date been well managed.
Humm... what some guys don't understand is that optimistic forward metrics are not quite so meaningful when there has been, and still is, a global pandemic, a war and most likely now a dose of stagflation. KGH has certainly been hit by today's RNS, I'm sorry for existing holders of the stock, from my perspective I'm even more sorry at the collateral damage to GTLY's price!
Not that anyone is likely to care but, In my view in spite of ANIC's excellent focus on the (E)nvironment with unquestionably huge potential benefits and currently limited exposure to (S)ocial, I find the G(overnance) element is making increasingly uncomfortable reading. Sufficiently so that I'm out.
So, should we find ourselves in a world with endemic covid, in some months or years to come, one might expect that the focus for investments might return to examining what companies actually do. Given that YGEN's progress with developing a global capability in NIPT testing warranted a share price of 13p in mid Novemeber 2019, well before anyone had even heard of covid, it does seem rather odd that the current price doesn't reflect this. Also odd, is that few seem to appreciate that roll-outs were inevitably slowed in the midst a global pandemic, who'd have guessed? Whilst annoying that the share price is falling, it does at least allow for some topping up.
Just a thought...
A couple of sentences from an article about Paragraf in yesterday's FT:
Graphene start-up wins backing from UK Treasury and CIA-linked firm Cambridge-based Paragraf aims to commercialise material acclaimed as a wonder by scientists and engineers.
The UK government and a venture capital fund with links to the CIA have taken stakes in a Cambridge-based start-up aiming to commercialise the use of graphene in electrical devices
Paragraf claims to be the first company to develop scalable technology for the mass production of graphene for the semiconductor industry. The company has raised $60m to help build commercial operations globally this year. Among the new investors are the UK government’s Future Fund
Glad to see I'm not the only one wondering why this is at the price it is. I don't own any shares in it, regretably so given the rise over the last three years. But I do have Gateley, which have done well, but sit on a P/E of about 20 when KGH are currently on 100+. Both companies have announced half year results, GTLY £62m revenue and £8.1m adj Profit, KGH c£60m T/O and adj profit c£7.6m. Revenue growth not that different 23% vs 29%.
So, why the 5X higher P/E ratio for KGH? Equally, alternatively why is GTLY so 'cheap'? Both companies have had the same relative P/Es for the past 3 years too. Any ideas?
Ok, so online sales fell between June and July in the EU and UK. Is anyone in any way surpised by this? Consequently, one presumes, the share price in ITS falls this week. Yet this is on the back of reported c80k buys and c28k in sales in the last 3 days. Doesn't this seem just a little odd?
Maybe the company won't succeed, though a 225% year on year rise in web traffic stats for Q1 suggests otherwise; and that before including the sales through JL, Next and M&S - none of which started till Q2 last year.
Not that it matters particularly for this offer as I already have a significant holding in SOS, but since PrimaryBid changed to App only applications they have successfully excluded me and any other investors who have a dislike for conducting financial transactions on their mobile from participating. Apologies for sounding like a dinosaur, but what was wrong with the web-based system...? a great shame.
In terms of SOS making worthwhile use of the raise, you only have to look at the rise in their web traffic compared to other fashion sites (for April) to see that they must be doing something right.
Possibly related to what appears to be a significant report on liquid biopsy diagnostics which mentions ONC (along with many, many others)? plus ANGLE and Yougene
https://www.researchandmarkets.com/reports/5310251/liquid-biopsy-research-tools-services-and?utm_source=BW&utm_medium=PressRelease&utm_code=ntkf59&utm_campaign=1521438+-+The+World+Market+for+Liquid+Biopsy+Research+Tools%2c+Services+%26+Diagnostics+to+2025&utm_exec=joca220prd
Nothing changed yet on AJ Bell either
Couldn't agree more. Their web traffic figures alone is a good reason to watch them. January figures up 145% on January 2020 even without the significant spend on advertising they did in the runup to Christmas last year.
Still watch this share, having originally bought at 90p and also mistakenly selling at 174p, 146p and 136p. I get the significance of such software being embedded into the core of company systems and such a global spread of many large companies leading to this being regarded as a 'safe' relatively fast growth company. Plus good board and management. But however I read the results I can't understand how this nonetheless justifies such a massive P/E ratio. Am I missing something?