Member Info for shandypants2

yes, also said BRSD has had a "good start to 2021" so i'm hoping the trading since YE update statement can provide more details.
SP is very frustrating ATM but assume this is because there is no news. Recent RNS seems to be intended to show the type of company BRSD are involved with i.e. large, high quality

agree PR, short term the results for YE will be next and as we lost c£5m in H1 the headline figure will probably be a loss for the full year, although as we know it became profitable in Q4.

CF has said he wants to buy more after the results so that's a massive buy signal for me. If we go below 35p in the next couple of weeks i'll by topping up.
CF said there should be at least one £10m plus contract coming soon and we have the spin offs too. If China bite on the CS too that's a massive pay day too. H2 will be good - ignore the SP over the next few weeks IMHO.

Put thanks for reply. So are we only getting $17.8 p.b at $70 full cost? I was expecting nearer $35 based on previously announced $35 b.p breakeven.
Even if the 80% has already been factored in that's only c$22 p.b

yep, a bit of a PR RNS really, but definitely not a negative. The software is top notch and we are working with big companies.

We do need the YE results and a trading update though - numbers talk

Mac - i did mention this this morning, but i think the thread has been removed.

Pretty sure the accountants can just make an allowance for any disputed invoices and legal fees on the accounts - a bit like a bad debt charge, which is a pretty standard accounting practice.

Not only would this ensure accounts are produced within regulatory timescales but it will also quantify the potential loss. At the moment no one knows how much is being disputed.

based on $70 p.b can someone please estimate the monthly $$ GKP should be receiving each month from KRG and also the arrears repayment. Thanks in advance

https://www.proactiveinvestors.co.uk/companies/news/951164/open-orphan-has--firmly-established-its-core-pharma-services-offering--951164.html

full link tp Proactive coverage - includes research notes

Year to date will be of great interest, especially as CEO has recently stated that many companies BRSD deal with want to avoid publicity. Marketing/Advertising has definitely be ramped up too, so hopefully this is creating interest.

So David you therefore know how he operates. Why say that he can't say anything that isn't in the public domain when you know he has ways around it.

Bingo list of potential comments i'm expecting are
- China coming along
- loads of interest in CS
- not RNSing every contract
- cash is good and increasing every month
- spin offs - progressing but taking slightly longer than initially thought etc (although more detail would be good)
- expecting at least 1 RNS in June etc

Good luck with your investment - i first met him in March 2020 (was already invested) and he has surpassed my expectations and continues to do so. First bought in at c6p but am still buying the dips, 35p purchase only last week

David - have you been to a CF presentation? If he comes across as excited and enthusiastic that's a massive positive IMHO.

He will also give an indication on timelines and potential RNS dates etc. Nothing specific needs to be mentioned.

agree goup. It certainly wasn't negative, however, it will be interpreted by some as another jam tomorrow announcement, hence the lack of excitement.
NFX will have its day - just not today

https://www.bbc.co.uk/news/business-57253947

good article explaining why EV growth is already a nailed on certainty, in case anyone didn't already know.

New CEO really seems to have the right experience to drive the company forward and this clearly de-risks the execution risk in the US, as does the 2 recent NED appointments.

Just looking at new CEOs old company whose main product was an iron supplement used to treat CKD. I think he had left by then but in Dec 2018 it appears they started selling directly in the USA. In 2019 these revenues were $111m from essentially a standing start. Unbelievable. Accrufer is a better and more versatile product.

See note from accounts below

Product Revenue, Net. Net product revenue is derived from sales of our sole commercial product, Auryxia. We distribute our product
principally through a limited number of wholesale distributors as well as certain specialty pharmacy providers. We began recording
product revenue on sales of Auryxia in the United States on December 12, 2018 following the consummation of the Merger. Net
product revenue was $111.1 million for the year ended December 31, 2019 and $6.8 million for the period from December 12, 2018
through December 31, 2018. This increase as compared to the period from December 12, 2018 through December 31, 2018 was due to
net product revenue associated with Auryxia, as there was no comparable net product revenue in the period from January 1, 2018
through December 11, 2018 prior to the Merger.

no worries. AOP did increase their holding - i think from c10% to now over 12%. Inventages, STX's biggest shareholder did approve the fundraise but decided not to participate. I suspect this was partly why it was so heavily discounted as they held 47% of the shares prior to the placing.
Excerpt from the feb placing RNS below

AOP, a major shareholder of the Company, have indicated that they will subscribe for 14,333,333 Subscription Shares. Dr. Christian Schweiger, a non-executive Director of the Company and major shareholder and Tim Watts, Chief Executive Officer of the Company, have also indicated that they will subscribe for 1,301,280 Subscription Shares and 1,000,000 Subscription Shares respectively. Further, certain employees of the Company who are existing Shareholders have indicated that they will subscribe for an aggregate of 300,000 Subscription Shares at the Issue Price pursuant to the Subscription. The aggregate gross proceeds of the Subscription will amount to approximately £5.1 million.

CEO new interview on V O X markets today.

Progress continues - looking forward to the YE figures on 8th June, especially progress since YE

good find - thanks for posting

ECR newsflow has definitely improved recently and gold price is back up too.

Obviously good drilling results are crucial but things do seem to be getting better after the last few dodgy months. Hopefully CEO has learnt his lesson now and comms will improve

notice in annual accounts CEO bonus is linked to share price. 1st payment at a £175m market cap and 2nd at £300m.

1st level seems very low (STX seem to be overly generous on bonuses and share options etc) so is almost nailed on as value of STX after FDA approval was over £200m and we didn't have a US deal then.

Share price of 81p for 1st target and c132p for 2nd.

If you bought at the recent discount placing and are thinking of de-risking (100% profit at current share price) i would wait for the 81p price as it's likely to be hit in the next month or two once US revenues start coming in.

share consolidation only

Great news - new CEO has excellent experience and is US based. Watts was always out of his depth and it was noticeable that his contract was only extended by 6 months (April to Sept), as documented in the annual accounts.
This is another important piece of the jigsaw and will clearly add value to the US launch. IMHO the execution risk is reduced even further.

Jim - what new shareholders? 2 largest shareholders are and have always been Inventages and AOP, although the former didn't participate in the recent fundraising so their holding % reduced from 47% to c25% . Both have had influence at Board level for a number of years and the recent placing would not have occurred without their support.
The chairman is a NED just turns up for a BOD meeting once a month, it's a part time role. He appointed Watts this time last year.