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Suprising drop recently and esp. today...can't see any reason why
Dipped toe in here today with 50k at 43. Looks like a good recovery story with a nice 4.1%yield.
The only thing striking about the rns's is the lack of excitement and comment within them wrt the savo prcc phase 2 i.e unlikely to get any early NDA as they have alluded to and phase 3 route will be the earliest way to market. On valuations, it seems a fruitless task until we get great phase 3 results. That will be the only indication that we will get revenues from any drugs. Fingers crossed that such news is only a few weeks away.
Christian has already said that if fruq gets approved just for colorectal (ie. its phase 3 candidate) we are lloking at possibly £120mill per year for that in a few year's time. That just gives a favour of what is possible just from i trial so I totally get your valuation argument since we have so possible candidates . For some reason, the US will not give us any credit for the pipeline or the commercial dept. Until, we get a drug getting past phase 3, our valuation will struggle. Once we do, we will rocket very fast imo. As you and I both know, the next month is absolutely vital. I'm surprised there has not been a lot more buying ahead of this news but par for the course it seems.
davey, Quite simply , the undervaluation is inexplicable but Feb/March promises to be the months where we get rerated up or down in big way. The 1st ever phase 3 results from HCM will be released.That's 17 years of hard work waiting for this moment of vindication. Since Ely Lily are involved as well , there's no excuse if the trial results are as good as we expect , that we should not be trading well over £30 in my view .I fail to accept on positive phase 3 results there the US Adr will not move by at least 30% . There is, of course, other news such as results and the phase 2 , savo PRCC , both in February but I would hope the HCM will start moving up in anticipation of the really big news. I will be buying this month without a doubt and hope Christian's and Simon To's big hopes and huge faith come true.
Its all about the phase 3 results in early March. Everything else until then is jam for tommorow. OT, Matt, have you looked at MCGN. I've been building a position in that the past month. Looks quite interesting imo over the next 18 months.
Matt, yes you were right. Looks good but more than happy with where I put the proceeds, which was Gaw.
Beat expectations again and 30p dividend declared for next Thursday.
A nice steady performance back to recent highs. Results next month. Efulfillment continues to grow and CLG are number one. High rating but well deserved. Hopefully should be some new contract wins as promised and more details of existing customers upgrading to click and collect. A share price closer to 500p this year beckons imo.
Sorry , should have added your £99 million in cash figure doesn;t include the bank debt does it ?
And what about the 60million in bank debt ? Banking Position The Group has net cash of GBP37m at 31 October 2016, an increase of GBP0.8m since 30 June 2016. Excluding the cash received from HMRC in respect of the VAT decision and customer cash balances, the Group has net debt of GBP60.0m at 31 October 2016.
The presentation for those interested.... http://www.chi-med.com/wp-content/uploads/2016/12/pre161206-013.pdf