focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
How do we know that taxes for last year haven’t already been paid and are already reflected in the Kistos March 31st net cash numbers given in the Mime acquisition press release?
Just noticed something I should’ve seen sooner.
So in the January operational update, Kistos had 129 net cash at end of 2022.
For the Mime PR, it mentions Kistos had 182 million net cash at March 31st.
So they generated 52 million euro in FCF in the first 3 months of the year?
Current market cap is 246 million euros.
Mythyaar, thanks for your thoughts. I think it’s safe to say, we have a clean runway overall looking ahead. The NASDAQ uplisting should be a catalyst, as it brings in new investors.
One follow up thought… Indivior having 2% market share target for the $1.5 billion Sublocade revenue target. What are the other big opioid drugs? If you only have 2% market share, can’t someone bigger basically outcompete you? I guess I am trying to get a better understanding of the different drugs in the opioid market.
Copying pasting from another investor site I’m a member of:
“In the last 2 days-
Bad news:
- Brixadi approved and will compete directly with Sublocade
- https://www.camurus.com/media/press-releases/2023/camurus-announces-fda-approval-of-brixadi-for-the-treatment-of-moderate-to-severe-opioid-use-disorder/
- https://www.fda.gov/news-events/press-announcements/fda-approves-new-buprenorphine-treatment-option-opioid-use-disorder?utm_medium=email&utm_source=govdelivery
- Any color on Braeburn's current financial position and ability to launch? Braeburn owes $35M on approval here.
Good news
- OPNT003 (OPVEE) approved
- We owned/followed OPNT closely. I think this sells well north of the $150M estimate at the time of acquisition. Narcan did $430M in 2021 before it went generic and OPVEE has a chance to be the one first responders carry.
- Indivior Nasdaq listing starts trading June 12”
Okay so I found the original bond listings on the Oslo Stock Exchange. It shows whenever the bonds weee bought back. Most recent transaction was in January.
This was on one of the bonds, since bond holders need to see financials:
“ Kistos NL2 B.V.’s 2022 Annual Report & Accounts is not expected to be published
until the second half of May 2023. This is in line with the anticipated timing
of the publication of the 2022 accounts of Kistos Holdings plc (Kistos NL2
B.V.’s ultimate parent company), which have been delayed due to the proposed
acquisition of Mime Petroleum A.S., which was announced on 19 April 2023.”
“They have been steadily buying bonds back recently”
How did you find this out? Also, where can I see what the bonds trade at?
If the bonds get bought back, Kistos has to make an RNS filing, yes?
Buybacks…
Are the 2nd half 2022 results supposed to come out this week? Unbelievable, we are almost halfway through 2023.
Meanwhile, the stock keeps getting clobbered.
“ Also I read that a previous decision to buy the last of the bonds back wasnt not followed up last week”
Source?
Okay. Pre tax as in pre regular corporate earnings tax or pre all the windfall taxes?
Indivior Wants Class Tossed From Suboxone Antitrust Case
By Piper Hudspeth Blackburn
Law360 (May 11, 2023, 6:05 PM EDT) -- Indivior urged a Pennsylvania federal court on Thursday to dismiss a class of end payors from a case accusing the company of monopolizing the market for the opioid addiction treatment Suboxone, arguing the end payors have never demonstrated how they "suffered any harm" from the alleged violations.
In a motion to dismiss, the Virginia-based pharmaceutical company also asked U.S. District Judge Mitchell Goldberg to decertify the end-payor class if he didn't dismiss the suit outright. According to Indivior, certification should be reconsidered because it occurred before the Third Circuit's 2021 ruling in Russell v. Education Commission for Foreign Medical Graduates, "which changed the law on class certification."
In that case, the court held that in cases where a class is certified to collectively address only some issues before individually handling other issues, they have to satisfy the typical rules of civil procedure and consider a list of nine factors the Third Circuit had laid out in 2011 in Gates v. Rohm & Haas Co.
"This court must revisit its class certification decision prior to trial; because that decision predated Russell, it did not conduct Russell's required analysis," the motion stated.
The plaintiffs, which consist of direct purchasers, end payors and a group of state attorneys general, have claimed that Indivior, formerly known as Reckitt Benckiser Inc., attempted to maintain its hold on the Suboxone market through a tactic known as a "product hop."
According to the plaintiffs, the company moved to an under-the-tongue, dissolvable "film" form of Suboxone after protection from generics for its Suboxone tablets expired, in order to continue their market exclusivity.
Judge Goldberg certified the class of end payors in 2019, though only to decide whether there was anticompetitive conduct, meaning members of that group would have to bring individual cases if a jury finds the conduct occurred. The ruling, which also certified a class of direct purchasers, was later affirmed by the Third Circuit.
A trial is slated to begin Sept. 18, just months past what the state enforcers and others asked for in November.
Judge Goldberg rejected a bid from Indivior for an early victory in August, finding that the suit's claims rest on issues of fact that belong before a jury.
On Thursday, Indivior insisted that because the end payors haven't shown how they have suffered from the alleged scheme through "specific facts," like the amount of money they otherwise overpaid, they can't demonstrate Article III standing at summary judgment.
"EPPs have not demonstrated that each class member sustained concrete harm — and a great many are plainly unharmed," the company said.
Https://www.law360.com/articles/1606950/indivior-wants-class-tossed-from-suboxone-antitrust-case
YoungJun, where did you find out the amount of time left?
Also, if anyone looked at the link I referenced earlier… https://twitter.com/NeutronMike/status/1658379768969023489?s=20 the banker mentioned in there thinks Kistos will earn more than its current market cap this year. That cannot be right?
What is the potential there? AA was very animated about it in the recent interview.
Also, a section about Kistos in the newspaper recently:
https://twitter.com/NeutronMike/status/1658379768969023489?s=20
Anyone knof if the production numbers mentioned in the Mime acquisiting filing incorporates potential upside from Benriach? I assume it doesn't, correct?
Did anything ever come from this?
https://www.reuters.com/world/uk/uk-government-expected-offer-energy-companies-windfall-tax-relief-ft-2023-03-24/
On the offset to that, they get a huge tax deduction for CAPEX spent and anything they can do to reduce taxable income…
Very little cash flow? Please specify.
Do you have a model for Kistos? I’m trying to estimate how much they are earning at current prices and production levels.