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Can you ask - when will we see some meaningful trading profits ?
I don't doubt they'll eventually come but I think it's fair to say we had all hoped it was to have been last year as I recall. And don't you think SOH rather let us all believe that too ?

"Poor comms, bad timing, err...etc"

Crombatt - your comment re Woodford should really be applied to RENE or rather Olav Hellebo and Michael Hunt in particular. Their communication has been poor over many years - it seems to me, not just with the benefit of hindsight, they have never appreciated what a research company aiming to commercialise its initial medical insights needs to do. To keep the market regularly updated and promote all that is positive - not sit on their backsides and being mealy-mouthed in what they deign to tell us.

I appreciate this is a simplistic notion, but in my opinion RENE let down Woodford - remember he financed in large part the major funding, the last of which would now be £5 a share.

Today's Corporate presentation of 2019 figures highlights the substantial turnover growth from $13.4m 2018 to $19.5m 2019 and which was forecast to continue growing in 2020. The operating loss was reduced from $5.5m to $1.8m.

Prior to 'lockdown' from Covid-19, their continued re-shaping of the business, focusing more on Gabon was clearly working - news out of Gabon on this, is that the lockdown has now been relaxed but it had primarily focused on the capital Libreville. We don't have any updates yet what effects it has had in WBI's operating territory. What I like about WBI, is that the Directors themselves hold 13% of the capital. Their balance sheet at year end has equity over $117m against a market capitalisation of just approx of £18m.

I decided to add a few more today in the expectation they'll continue the business growth.

Sasa43 - I can't agree with your statement re the share issue at 35p - yes I'm a LTH of many years standing when the price was around 40p and AstoZeneca was in the possible wings - but the company could and should have offered it to PI's too. At best I can only assume it was casual indifference to them by the BOD because with the likes of Primary Bid and similar companies, it is now easy and quick to do a book build and offer it to PI's.

As it says in its strapline:
"Connecting everyday investors with public companies raising capital."

You must have hit a nerve Partridge as my post of 12.35 partly echoing your views is missing - that thread has been removed. My comments at the time were:

Quote: I have to admit being in a quandary about Coro.
Can it really go bust from here ?
Is there no value left and a chance of a good rebound at these low levels ?
Yesterday's 8,400,00 share sales from Lombard Odier raised a little over £29,000 which a year ago could have been nearer £800,000 (I think my figures are right). With 793 million shares in issue the capitalisation is now less than £3 millions and LO still owns 23,33%. Endquote

SGD27 - thanks for link - the change as I see it was only approved 29th April for non-hospitalised patients and the procedure for choosing participants is quite complex isn't it ? The cohort required is only 120 but is being managed from Southampton University Hospital so clearly that's quite some work to do getting GP practices to refer suitable candidates. I think it's that realisation at SNG that has moved the reporting into June and away from end May. A lot rides on Southampton maintaining its energy to see the programme to a successful conclusion.

The results announcement is now a Month later than last year and we have no news as to when it will be announced. Yesterday there was a large sale of 1 million shares. Whilst not that significant in money terms, it is greater than we normally see traded. Are the two related in some way ?

And a very easy return too Double D !

Remember, these Institutional Investors got the offer at 35p when our stock had already traded in the 60p range. Clearly a no brainer for anyone it seems to me - except for the poor sods called 'retail investors'.

As a LTH myself, it's worth remembering that many of us came into this stock years ago when it was trading around 40p and it would have been so simple to include us without any delay by using an organisation like Primary Bid.

I'm certainly optimistic but still feeling sour that as a LTH we weren't given the chance to add further shares at 35p when the market price had gone way past that sum.

However, there is every chance in these worried markets that anyone with a solution or possible solution will do well and it's worth repeating the more likely shareprice rise:
House' broker FinnCap introduced a 120p target price on the firm, saying the company's risk/reward profile was "skewed significantly to the upside" and that a successful outcome from the pilot phase of SNG001 will have "substantial commercial value".

Proactive video - not an exactly inspiring response from Michael Hunt - he was fed all the right leading questions but didn't make much effort as usual. You wonder whether he really wants to see RENE share progress ?

A great find Sarahrodhz
Welcome to the forum - and pointing us in the right direction on your 1st post ;-)

Thak you grizzlyb - very helpful.

idg69 -
wasn't something like EREXON as a brand name mentioned in past FUM announcements ?

Surprising the speed one CEO goes and a new CEO comes in - was Walls pushed or did he organise his replacement ?

davidpqz - in response to your comment - it's a case of are you half full or half empty towards RENE right now - if one can use that analogy ?

Two key Non-Exec Directors buy stock - the Non-Exec Chairman Barriman buys 80,000 in one go at £2.25 - cost £180,000.

The vibes within RENE right now must be buzzing and look what was announced today and we already know the RP trials are going well. Share dealings are based as much on sentiment as on solid facts and that in total is why I said last week that I felt RENE had turned the corner (the corner being the SP of then £1.35).

"Dilution on the cards" - NO
No - that time has past given their stated cash position and the the extra from Fosun. It's also important to understand the Staff and Directors positions. It was only in April that substantial options were given not just to OH but a wide number the base price was £2.22 and I think could only be exercised when the sp is double the base price.

Moreover a day or so later the Non-Executive Directors bought in actual stock (something as a LTH I don't recall seeing before) at £2.25 / £2.28 particularly two key Directors John Berriman purchasing 80,000 and Prof. Sir Chris Evans who now owns 254,605 - I can't see them standing idly by and watch this company fail.

I feel confident the market dynamics have turned a corner.

Woodford had a major stake in similar Biotec - Synairgen - it's sp has also suffered as a consequence. That too was sold (?) on 15th like RENE and this afternnon an RNS as been issued that Link Fund Solutions Ltd had obtained a 19.5% stake - presumably the Woodford holding.

So, is it Linik that now has RENE ?

As a LTH - please don't accuse me of ramping - but I think this is the time for a top-up.

Nothing wrong in this selling - it's been a regular occurance 5 to 6 weeks. Given Lombard Odier's very large shareholding at the outset, it makes sense to gently dispose of some of it rather than take their chance on getting a jackpot some time down the road. In a way, Woodford was trying to do that and look where it's got him.

1,295,000 shares disposed of yesterday and look how well the sp has held-up. LO now holds 13.97% and will steadily cause long-term holders less problems. As said before, the real error was the Futura board finding itself having to raise funds at 7p when the company was on the threshold of great news. Having myself subscribed at that stage, I'm naturally pleased with the way the sp is going.

I've added today at 1.59p - am hoping the thread's title 'Cheap as Chips' is correct. I've given up trying to understand this share, so now looking at BB titles instead for guidance :-)

ps I'm expecting results tomorrow - a sp bounce would be good please