The elephant in the room is still Woodford. It’s likely he’s going to sell and the board need to find some other ii’s. Woodford has just sold out of ETX and today ITX which has severely dampened their SP, although there has been a bit of a bounce when he’s gone
It was a rather strange RNS in my view. An update and some vague plans about a fund raise. Perhaps they were hoping to ease some concerns, particularly with the Woodford grey cloud. No details on what the share placing would be - it sounds like they were testing the waters to see if any ii's wanted a bite, rather than do an open market placing...............
I think it will remain volatile until December at least, when Woodford's fund becomes unlocked again. I've got a number of Woodford shares, mainly small caps, and it's demoralising to see the paper loss but I still believe in the fundamentals. It's time to hunker down until the storm has passed.
So Jupiter have sold out their c. 14%. Where does that leave the rest? How much does Woodford have left? We could be in for a rocky ride if Woodford also looks to sell on the back of this............we could do with some other iis coming on board
A pretty neutral RNS, as expected an increase in revenue but disappointing increase in loss means margins have clearly been hammered by the push to H&B etc. It means we’re still a long way from profitability.
On the plus side, progress has been made towards achieving blue cap status in China which is what our future hinges on
The challenge for Xeros directors is to now engage with other institutional investors who will buy into this company and the forthcoming fund raising because Woodford is no longer going to be someone they can heavily rely on
Thanks for the correction. I agree Woodford does have too much influence here and in some other companies, but I do back his strategy. He’s been unfortunate in that circumstances beyond his control have hindered his performance. That’s not to say he’s backed some duds. But I admire his steadfast belief in some companies like this, Xeros, Avacta, Reneuron which are great prospects. He doubles down when things aren’t going so well.
However, a fresh approach and less concentrated stranglehold on the company is better for us other shareholders
So Woodford has sold another tranche of shares, to reduce his holding to under 17% now. Positive in my view, I don’t think he’ll sell all his holdings here but it reduces the negative pressure on this share and at some point will bounce
It's another important milestone but it's not going to blow on it. We'll have a sharp 20% rise today but it will drop back thereafter. The share is rangebound between 8-10p at the moment and won't surge until we see concrete revenue being generated