Member Info for Scinv_temp

*half serious

Look at North pretending to have other "sure things" they can't invest on now cause they are tied to OO. So cute. My guess is you probably spared yourself a worse disaster really. Any have serious investor would have allocated a specific amount to each stock they thoroughly researched before hand (you can't see me but I'm giggling) and stuck with that. Or sold out on current non preforming positions and invest that amount on their current bright idea.

If I ever saw a loaded spring...

*revenue

£6.2M influenza A challenge, revenie recognised across 22-23, new client (I think) from US

*PB

I agree with PG. Starting this conversation again is silly and likely to backfire.

https://www.openorphan.com/sites/openorphan-v2/files/Annual%20results%202021/Open%20Orphan%20AGM%20Notice%202022.pdf

But I'll be damned if I remember what they were

Many thanks. Much appreciated.

Interesting background in AI. Owkin where he is currently SVP is funded also by Sanofi and has an interesting platform. BenevolentAI where he was previously is also doing very interesting things. He could also help with all the data OO is collecting from core business and spinouts.

"... Martin Gouldstone as an Independent
Non-Executive Director of the Company with effect from 8 June 2022. Martin
will also Chair the Audit & Risk Committee and will be a member of the
Nominations Committee and the Remuneration Committee.



Martin brings 30 years of corporate development experience in the CRO,
healthcare and pharmaceutical sectors, holding a number of senior roles at
healthcare AI businesses. Martin has expertise in executing multi-billion
dollar deals across Europe and the US, architecting end-to-end portfolio
out-sourcing deals, and negotiating multi-year research partnerships.



Martin is currently Global SVP, Business Development at Owkin, a
French-American start-up using artificial intelligence to discover and develop
better treatments for unmet medical needs. Previously, Martin has held the
roles of Chief Business Officer at both BenevolentAI and Sensyne Health and
was a Partner at Results Healthcare, an international M&A advisory firm,
where he co-led the company's healthcare practice. Prior to this, Martin was
Head of Life Sciences for BDO UK LLP ..."

Lmao

Doean't matter. Results and guidance matter. Most people here trade. 80% of ii who trade lose money in the long run.

Yes. But also true for next week.

"Ivan from Telegram" lmao. This is typical persona building exercise by unskilled traders.

Every time I see random nonsense regarding earnings or other important company events/developments in the form of a question, I immediately write off the person who asked as a fool. Next year revenue may ot may not be £70M, instead of the projected £50M, but this is not something we are going to hear about next week.

That's something to read about. In essence revenue is what it says on the box, all income without discounting anything. EBITDA is more a measure of profit and that is why they use a higher multiplier.

£50M obviously

Quite straightforward for £50 revenue using 2.88x multiple = £144M market cap =around 22p, at 5x multiple with same revenue = around 39p. But I also expect revenue to be higher in a couple of years and hopefully also next year

Here's one research pre covid
https://objectivecp.com/cro-sector-fundamentals-remain-hot-for-ma-consolidation/#:~:text=According%20to%20Pitchbook%20data%2C%20business,to%204.77x%20revenue%20multiples.
"According to Pitchbook data, business sale median valuations of publicly traded CROs range from 11.75x to 15.6x EBITDA (earnings) and 2.88x to 4.77x revenue multiples."

And here's a more recent one, after covid led to mad valuations in many companies in the broader sector

https://www.valuationresearch.com/wp-content/uploads/2022/02/CRO.pdf
About 20x EBIDTA in this research

I expect somewhere around the first example in the next year or so