Member Info for OliG

I think the poor brokerage coverage is a good thing in the short and medium term. It is why most of us have been able to get in this stock so cheaply. The stock is reasonably valued if 2019 were the normal year and no growth was expected and I don't think either is true. Even without the spike in volatility Plus was growing at the expense of its rivals because it has a much more efficient and effective business model. This can be seen when you look at first quarter results against our competitors. Eventually, the market will catch on. I expect an uplift when our Q2 results are released but I don't think we will get a valuation that truly reflects our value until we have gone through a relatively quite trading period and Plus has shown it has held on to more customers relative to the competition.

Good estimate Simplethesis.

If you look at forward PE (current year adjusted by cash) it's less than 3.

I don't put more than 5% of my portfolio in any one share, which makes it emotionally easier to ride the waves. I've been really tempted to break my rule with Plus but I'm holding firm.

Look what happened in the first half of March when volatility was sky high. The Share price dropped from 978 to below 700 on the 16th. The market got it wrong but that's normal. Since then the price has almost doubled and I'm sure its got much further to go. On the journey upwards there will be days it goes down a little. It's no big deal, it happens to all stocks.

Absolutely, which is why I asked you the questions. I thought that was chatting.

Hit the filter button.

Denby, why did you invest here and what's changed since then?

I bought into this company today. I'm hoping I got in before this hits the big boys radar. It has fantastic metrics all round and I suspect that as it continues it impressive growth path its valuation rating will increase.

The trial will include a placebo.

"Expanded SG016 trial

The expanded trial includes patients who have had symptoms for less than 72 hours and are aged 50 or over with a high-risk comorbidity (such as cardiovascular disease, diabetes or a chronic lung condition), or aged 65 and over. Eligible patients are assessed via video call, and subsequently sent a swab by courier for self-swabbing. These swabs will be tested by Synairgen, and eligible patients with a positive sample will be sent a box containing all necessary equipment, aerosol delivery device, pulse oximeter, thermometer, other consumables and the study medication SNG001/placebo. The Southampton Clinical Trials Unit from the University of Southampton have joined forces with Synairgen to conduct the clinical trial, with additional support provided by the primary care delivery team at the NIHR Clinical Research Network Wessex (CRN Wessex).
Recruitment for the home setting of the trial will depend on the prevalence of the virus in the community and the degree to which the targeted 'at risk' patients become infected. The novel, virtual trial design, means it is readily scalable if necessary.

RNS Number : 8354N
Synairgen plc
26 May 2020


Press release

Synairgen plc

('Synairgen' or the 'Company')



Update on expanded SG016 trial for patients with COVID-19:

Synairgen initiates dosing of SNG001 in home setting to treat patients earlier in the illness



Southampton, UK - 26 May 2020: Synairgen plc (LSE: SNG), the respiratory drug discovery and development company, today announces that it has launched an expansion of the SG016 trial of SNG001 (inhaled formulation of interferon-beta-1a) in COVID-19 patients to dose patients in the home setting. The expansion of the trial aims to dose patients earlier in the illness, within three days of symptoms developing.



This follows receipt of the necessary approvals to expand the ongoing SG016 trial from the original 100 patients, to include enrolling an additional 120 patients in the home environment, as announced by the Company on 30 April 2020.



Richard Marsden, CEO of Synairgen, commented: "We are really pleased to be able to expand the SG016 trial to patients in the home environment which enables us to test the drug much earlier in the course of the illness. If successful, we would hope to protect the lungs and prevent the development of the severe lower respiratory tract illness which puts the healthcare system under such strain. We have also been pleased with the progress of the SG016 trial in the hospital environment, having dosed 98 of 100 patients, and look forward to announcing top line data in July."



Professor Tom Wilkinson, Professor of Respiratory Medicine at the University of Southampton and Trial Chief Investigator, commented: "Expansion of the SG016 placebo controlled trial where we will be treating patients at the first sign of COVID-19 symptoms is something of a first and reflects the ingenuity and expertise of Synairgen and our researchers here at the University of Southampton. This novel approach is designed to reduce infection risks for both patients and front-line workers. Critically, it also allows us to gather clinical evidence for SNG001 more quickly, a treatment we believe could play a crucial role in tackling the COVID-19 pandemic."



Professor Nick Francis, Professor of General Practice at the University of Southampton, commented: "This novel trial approach is essential for the ongoing health of those at higher risk because of increasing age or other risk factors. The approach could be rolled out across many areas of primary care involving the interaction with vulnerable patients, including the elderly, if it is successful. We are in desperate need of a treatment for COVID-19 that can be given to patients early in the course of the illness in order to prevent progression to severe symptoms."



Expanded SG016 trial

The expanded trial includes patients who have had symptoms for less than 72 hours and are aged 50 or over with a high-risk comorbidity (such as cardiovascular disease, diabetes or a chronic lung c

W13ken, I don't want a dividend, very tax inefficient, and would much rather a company invest for accelerated growth. However, I don't like to see cash just build up and not be used. This is an inefficient use of capital. I suspect management have a clear idea of what they want to use it for but as of yet they have not articulated it, at least not that I am aware. This company now commands a very juicy PE based on its recent growth rate and to keep SP moving upwards they are going to have to maintain that growth which means putting that cash to good use.

Why is the company not paying a dividend? At the year end this company had no debt and £42mil in the bank. It converts over 100% of profits into cash so doesn't need to fund working capital in order to allow growth. I can only assume it is to fund acquisitions but there is little detail on this and so far all they have bought is Yippee for £1.4mil.

I won't be selling any of these until they are at least £20 and even then it will be just a small slice. It's very reassuring to hold something that will do well when the market is in turmoil. Like Jack I think this will continue to move up steadily towards the H1 announcement. In the unlikely event that it doesn't I will be happy to collect what I anticipate will be a huge dividend.

Thanks. I guess they are trying to keep expectations low?

simplethesis, what are Liberum forecasting for EBITDA and Revenue for the year?

Simplethesis, I wasn't aware the rules were quite so prescriptive. My understanding was based on the rule that "where a company has made a public forecast but it subsequently becomes aware that the outcome will be materially above or below the forecast figure, a further announcement should be made correcting the forecast as soon as possible." Obviously, Plus fell into this category at the end of April, but I would have thought the above rule applied even if the company hadn't hit full year profits after 4 months. I.e if they were 25% up on the profit forecasts delivered 3 weeks earlier and believed they were likely to continue I would have thought that would warrant an update.

Why does the 28 April RNS mean that the company had hit its full year broker expected profit?

I suspect the next trading update, whenever it is, will be along the lines of "business levels continue at unprecedented levels" and the share price will lie up again. I didn't want to risk a Monday RNS having not purchased so I decided to double my holdings today. Given the strong bounce we have had in the markets, this is one share I feel will do well whatever happens next, unless we a have a prolonged period of calm which I see as highly unlikely.

Anybody got a view on when we might get a Trading Update? The first half of May has seen plenty of volatility if not quite at the level of March and April.