Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
RNS - Non Exec Director BUYS 58,504 shares at 42.73p
If you look at The Hut Group (THG) share price driven down from c160p to 31.5p in October last year. Now up to 60-70p with around 4% short position. Likewise Boohoo (BOO) driven down from 300p to 30p in Sept with 10% shorts. Now shorts at around 5% and share is gradually up to 53p. Its a long haul back, and needs strong results, industry type back in "fashion" with investors, broker upgrades, contract wins and ideally big BOD and NED purchases..!!
Not too impressed with today's RNS - Sales Director sells all his holding (43,662 shares at 344p) and now holds no SOM shares. Okay he maybe selling for tax payment, house purchase, school fees etc - who knows? But it doesn't inspire confidence, other than rest of Directors are still holding reasonable amounts..
I bought my first tranche here a few days ago at 27p (at the bid price). At today's price of 26.5p, the market cap is only £20.5m with last cash position declared of £14.1m (at end January) So enterprise value is just £6.4m.
Seems too low to me...
Quite a few larger trades going through today, so hopefully once the larger sellers are out, share price will move back to 30p
Not sure if my maths is right here - but there are 3.1% declared short positions currently (Marshall Wace being the biggest holder at 1.4%) This equates to approx. 39.2m shares that need to be bought back and returned by the shorters to their rightful owners..
Now even with big volumes like today (currently 11.5m shares traded at 1615 hrs) that's a lot of shares to be bought on the market and returned....
Looking forward to the short squeeze when a significant RNS drops!
Looks like MMs have been walking this down to fill a big order - 65,000 buy at 228.384p
I've joined you at 218p.
Share price now 10% lower than recent high price c245p.
Looks a good buy at this price.
RFX was 260p before CV19 lockdown, see no reason it can't deliver same price again later this year
Today's share price is irrelevant, unless you are trying to trade SCLP.
For all investors, it doesn't matter if its 18p, 21p, 25p, 27p etc.
Its all about the science. You either believe in it or you don't.
If you believe in it and believe that Lindy and the team will be able to sell SCLP to a big pharma, that's all that matters.
If / when this happens, then the share price will be significantly higher than today i.e. many multiples.
Its just a waiting game, its not worth getting hung up about a few pennies per share.
if you don't believe, then sell and move on. Its very simple.
Someone's gradually building a nice stake here - numerous 2560 share buys over the last week.
Going to take some time to get a decent size, but clearly not wishing to push price above 43p
Tipped yesterday by NT on ex dividend day - a buy and tuck away in ISA
I'd been a holder here since 2017, but had sold a while ago worried about the cyclical nature of this business and potentially deep global recession. However today's results look solid to me and given that US is likely to have a soft landing plus SOM growth in Australia and Europe, I'd added back this morning sub £4. Looks a decent hold to me, especially as global supply chain unlocks. Profitable, high dividend payer. I'll add more as this year plays out.
Yeah, I thought Shares was poor coverage of todays update. Proactive investors far more detailed and balanced.
IMV Nothing has changed from yesterday, apart from we now have more detail on the Genmab deal and upfront payment.
I've taken advantage of the 10% dip and added some more!
Rich
Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF) hailed a period of significant progress, including a major licensing agreement with Genmab (CSE:GEN) worth up to US$624mln per product, as it unveiled its interim results.
The deal, announced in October, will allow the US giant to develop and commercialise an anti-glycan monoclonal antibody. Scancell said it provided strong validation for its platform.
In a statement accompanying its financials for the six months ended October 31, the group, a specialist in immunotherapies for cancer and other diseases, also highlighted strong clinical progress with ongoing ModiFY and SCOPE trials, with further safety, immune and clinical response data expected in 2023.
Additionally, Scancell has in-licensed the SNAPvax technology from Vaccitech (NASDAQ:VACC) to formulate and manufacture Modi-2, with the aim of initiating a phase I clinical study in cancer patients during the first half of next year.
Financially, the group is solidly placed with £24mln in the bank as of the period-end, providing a cash runway until the first quarter of next year. It received its first Genmab licence payment last autumn.
As is common for companies investing heavily in research and development, Scancell was loss-making during the period – to the tune of £3.2mln.
"We are pleased to report another period of progress for Scancell, including strong clinical and commercial developments," said Professor Lindy Durrant, chief executive of Scancell in the statement.
"The licensing agreement with Genmab provides strong commercial validation of the company's scientific approach and strategy. It is a defining period for our proprietary antibody platform as we have signed a licensing agreement with Genmab for the development and commercialisation of an anti-glycan mAb.”
Scancell Holdings PLC- Nottingham, England-based cancer immunotherapies developer - In the six months to October 31, turns to pretax loss of £4.1 million from a profit of £2.5 million a year prior. Development expenses widen to £4.9 million from £4.0 million as administrative expenses widen to £2.4 million from £1.9 million. Reports finance expense of £910,000 relating to revaluation of derivative liability, swung from a gain of £2.4 million a year earlier. Does not yet generate revenue. Meanwhile, gives an update on a study on a vaccine trial. 14 patients were enrolled and dosed in expansion phase of the cancer-focused Modi-1 trial, with no safety issues to date. Expands SCIB1 phase 2 combination trial to include doublet therapy, meaning patients will receive two agents, namely skin-cancer focused ipilimumab and nivolumab, which is used to treat several cancers. Says expansion leads to significantly increased recruitment rate. Notes that recruitment for its Covidity clinical trial in South Africa is complete. Expects safety and immunogenicity data from Covidity in the first quarter of 2023.
From IC
Accrol (ACRL) prides itself on being the UK’s leading independent tissue converter. In other words, a producer of toilet tissue, kitchen towel, and biodegradable wet wipes.
Given recent history, you would imagine that market trends have been running in its favour, particularly as consumers ditch name brands in favour of value options. It's true that the top line has risen appreciably since 2019, but a positive transition from gross profits through to net earnings has proved elusive. The group’s interim sales surged through to the end of October, but the gross margin – at 18 per cent – is down by 6.7 percentage points year on year, continuing the slide that was evident at the group’s April year-end.
Accrol’s chief executive, Gareth Jenkins, said the group “successfully leveraged [its] supply position with customers to recover all additional costs incurred in the period”. But there were no apparent scale benefits flowing through to net earnings despite a 14 per cent increase in volumes, suggesting that any claw-back of rising input costs will be a lagged affair.
To counter rising costs and supply chain disruption, the group has increased inventories by 77 per cent since the 2021 half year. Net borrowing has also swollen through the period, although management points to a multiple equivalent to a manageable 1.5 times cash profits.
The outcome of a strategic review, undertaken in 2022 with the support of Deloitte, was published alongside the half-year figures. In short, it prioritises the construction of a sustainable paper mill and the return of cash to shareholders through dividends and/or share buybacks. Unfortunately, these ambitions seem at odds with the group's current finances – last April’s quick ratio came up well short of the five-year average of 0.66, as per FactSet. Admittedly, the shares were marked up on results day, but the 23 per cent premium to net asset value is difficult to justify. Sell.
As always seem to under deliver on results - however still making £1.7m minimum profit on £24.1m revenue. No debt, £14.0m cash held as security. Market cap is around £16m and paying 1.5p dividend (over 5% at 27p)
Eventually this will either be taken over or become a real cash cow. A hold for me.
Covered by Simon Thompson in today on line version of Investors Chronicle - rated a buy at 216p, target 260p.
Will get much wider coverage when it appears in the printed version.