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It’s a blood bath in the Nasdaq biotech index at the moment. We’re bound to feel a slight chill as a result. An issue for traders but not investors...all still good here in my view.
A very large uncrossing trade... - 12mn. That moves the dial a tad.
Agreed that the update is something to look forward to. Nasdaq de risking pressure and some kind of contagion effect on PRTC is the only real short term threat.
Only point I’d make is that the Nasdaq biotech index has been hammered over the last few weeks, with many stocks down 30% plus.
I think it’s just a general de-grossing of the portfolio to raise cash levels and try to stay in control if things were to get out of control in the US. DNL is illiquid and to risk manage the portfolio the manager keeps an eye on ‘days to liquidate’ related metrics. Basically, it’s a very bad look to end up too long of stuff that will take many months to sell down. It says NOTHING about the EMA news we are waiting for.
Any mention on the call of target assets or M&A, Bronx?
After the institutional raise, I also think the market wants to see what Joe does with the proceeds before it commits to re-rating us to where we should be....
You raise a great question. Given that his proposed fund will have no retail element, I think there’s a strong possibility that he’d be keen to be back in Rene and other names he knows so well (no retail means he doesn’t have to care about retail investor / media frustrations in him buying back into old WPCT names).
Rene was an early /classic example of Woodford’s patient capital approach when he was at Invesco.
To watch Rene as it’s about to mature and not have exposure to it would be painful for him.
Although Woodford hurt a lot of us, he was one of only a handful of investors who propped up U.K. biotech and innovation for many years. That doesn’t clean the slate perhaps, but it is an inconvenient truth...
Encouraging- from the renishaw half year results ...non covid activity starting again - as it must.
“We have seen growth in our neurological product line and good growth in our spectroscopy product line which has seen a recovery in Raman spectrometer investment across all our regions, plus increasing adoption of the Virsa™ Raman Analyzer which was launched during FY 2019/20. We are also seeing that those surgeries and procedures that were delayed due to the pandemic have started to be rescheduled.“
take a look at ACT for an example of front-end/customer driven feedback technology - in broadband at least....
Unequivocally bullish for Xeros.
Griffiths is one of the most aggressive, well-informed and successful micro cap traders in the U.K. market.
Let’s see what news flow is coming our way this quarter.
Investors trying to play the global water theme find it difficult because global water stocks are expensive and/or water-related technologies are frequently part of large conglomerates or utilities (e.g. suez, veoila).
Xeros is a very clever way to leverage the theme in a portfolio. This recently restructured asset-lite company has a long way to go. The forced sales of the Woodford era have created an exciting lay-up opportunity for investors, in my view.
It has been referred to in previous RNS but it’s clearly got to the point where it has significant strategic value and focus. The pre-clinical data they already have has made them increasingly confident.
For investors there are two shots at goal here: the peanut allergy market is the headline act, but global recognition for expertise in VLP delivery in the broader area of immunotherapy, covering lots of additional markets, would be, arguably, more important and worth billions.
Today’s RNS is the most significant in years for AGY, in my opinion.
Effectively, they’re building a compelling, very high quality data pack around a short course of up to three injections to give life long tolerance to peanut.
The market is huge and peanut allergy plays in the US have been valued in the many hundreds of millions, if not billions of US$.
Of course, no one ever looks at AGY these days so this news is easily overlooked...
As things take off, they may have some working capital pressures, I agree. A quality problem to have but one all the same. I actually think their days of coming back to the AIM market are already over, however. There’s been so much progress - with the aerospace news ahead of us, that these guys will be able to fund via a strategic industry investor and/or an institution.
In short, if you think you’ll be able to participate in a placing a lot lower than here, I think you’re taking a big risk of missing out.
The market cap is still a far too low....
This has just been published by the FDA this evening. It's a reminder of the size of the opportunity in just one of TRX's assets, OrthoPure, as we move from European to add full US approval, too. As someone observed recently on this chat - Patience is KEY.
FDA Authorizes Marketing of New Implant to Repair a Torn ACL
Today, the U.S. Food and Drug Administration granted marketing authorization—under the De Novo premarket review pathway—for an anterior cruciate ligament (ACL) implant, intended to serve as an alternative to ACL reconstruction to treat ACL tears. The device, the Bridge-Enhanced ACL Repair (BEAR) Implant, unlike traditional reconstruction, does not require the use of harvested tendons for ACL repair and is the only currently- available alternative to reconstruction with allograft, autograft or suture-only repair for the treatment of ACL rupture.
“Torn ACLs are among the most common knee injuries in the U.S., but for years, treatment has been limited to ACL reconstruction, which can be quite invasive and typically requires using tendon or a combination of tendon and bone from other parts of the body, or obtained from a tissue bank, to complete the reconstruction,” said Capt. Raquel Peat, Ph.D., MPH, USPHS, director of the Center for Devices and Radiological Health’s Office of Orthopedic Devices, “Today’s marketing authorization provides new options for the hundreds of thousands of people affected by ACL rupture in the U.S. each year.”
The ACL, a ligament stretching from the front to the back of the knee, aids in keeping the knee stable. Despite being a very common injury, until today, the only surgical treatment available for...
The LSE’s machine redacted the name in my previous post. I hadn’t thought of them as competition to LSE. Fair-enough.
Anyway, take a look at ACT’s Twi**er account and website.
There’s a good interview with Dave Page on ************* this morning...Some visibility on potential revenue growth, etc...All v encouraging...
Consolidation just refers to the start of a share buy back program and/or the cancelling of shares held in treasury...all good.
Good point. It’s also why they can’t provide detailed sales breakdowns by product / customer/ division. I know some were pushing the CEO to disclose this kind of info when he last presented to us in October.
To give detailed info on, say, odour control related sales by ITX, would allow Croda competitors to gauge croda product growth, etc etc.
We’ve just got to sit back, trust to the management team and judge them by their sales updates when we see them. The patience required IS demanding. As someone once said: investing is simple but it’s not easy.
Yes! All good.
Maiden divi due to be announced in the first part of next year and the proceeds from these disposals will feed into the decision on dividend size and the appropriate gearing of the company. My point being that there will be a new cohort of dividend-mandated institutional investors willing/able to invest at that point.
Travel....and arrive, Tony.
Stocks can be efficient some of the time and do discount good news ahead of its arrival.
It was likely that there would be some good operational news to accompany the share consolidation so some did buy in anticipation.
Note alsothat some investors have had negative experiences around consolidation events in other aim stocks. There’s always a bit of confusion and churn - as you’ll see over the next couple of days. But the bottom line is that this company is in the right space with the right technology, management and investors to go a long way.
Large trades - yes, good to see! Makes sense to me...: the transaction earlier in the month is likely to have triggered some due diligence on Arix and its portfolio. Detailed due diligence in life sciences doesn’t happen overnight and could easily take a few weeks, bringing us to around now..
Im hoping that investors have completed their DD and think the price vs NAV is a significant miss-pricing opportunity. Let’s hope some of them are bidding Link for clips of its stake.
Agreed. Feels like management are getting all their ducks in a row before contract news flow or something similar...as demonstrated by the share consolidation move we’ve got ahead of us next week.
I think it’s also encouraging that the Chinese / Asian economic performance has been robust. We want the big producers to be confident of end consumer demand for white goods, etc.. Also, consumers and legislators not in recession have the funds and inclination to think about the environment....All v encouraging.