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If you aren't desperate for the cash and don't have a better stock to buy into, leave your £4k where it is…unless you have found a negative. There seem to be plenty of Johnny-come-lateleys lining up to buy your shares if FOLE (Fear of Losing Everything) is keeping you awake at night.

SOH has clearly been a forced seller of SBTX. When OPTI runs short of cash he either dilutes with a placing or sells some assets. Most OPTI shareholders would choose the latter, I assume.

Impressive results from major Tamdown customer, Persimmon seem to have boosted the sector today.

And impressive makeover for NEXS - and Tamdown and Coleman - websites.

190p close, thanks to uncrossing trades.

I wrote to the CEO to ask why I, a retail investor, held more shares than the BoD combined. I asked whether the Board had confidence in the future success of the company and whether the two executive directors with an aggregate £600k+ annual remuneration package would demonstrate faith in their own ability by buying a significant holding on the open market.

Then, within 48 hours, the CFO found some loose change down the back of her sofa.

Indeed. Any changes or delays to the programme outlined in previous RNS's would absolutely require an immediate RNS so the longer radio silence is maintained, the better. We just need to chill.

Bit of a token buy today by the CFO but better than nothing.

Presumably the CEO will be following suit.

And so it goes on. Shares obviously tightly held and while that remains the case, even small buys are pushing the SP up. Not certain that the MM has enough stock to meet market size order obligations.

That patent research was published in Jan 2023. Since then the number of citations of our patent has grown to 86.

https://portal.unifiedpatents.com/patents/patent/EP-3888628-A1

"Highly cited patents, specifically those in the top 1%, received an average of 50 citations.

These patents are often breakthrough innovations that have a substantial impact on subsequent research and development. Their high citation count underscores their critical role in advancing technology and knowledge.

Highly cited patents tend to be those that introduce new concepts or technologies that are widely adopted across various applications.

These patents can define new standards and open up new areas of research"

https://patentpc.com/blog/the-importance-of-patent-citation-statistics-in-research#:~:text=The%20average%20number%20of%20citations%20per%20patent%20was%2010%20in,relative%20importance%20of%20their%20patents.

Yes - explains today's rise at least. But not the whole story…

I hadn't appreciated how much worldwide kudos and credibility has been attached by the scientific community to the Dr. Catherine O'Neill and Professor Andrew McBain patent for SBTX, "Cosmetic use of a probiotic bacteria lysate".

Recent analysis of probiotics patents over the period 2000–2022, published in International Journal of Life Science and Pharma Research, shows our patent to be the second most cited of all patents in this field - which is remarkable considering that it is also the newest.

Published in 2021, it has already notched up 69 citations. The most cited patent with 71 citations dates from 2012. See Table 3: https://www.researchgate.net/publication/366579181_Probiotic_in_Cosmetics_A_Patents_Landscape_Study

Croda have since confirmed how robust the science is of course.

CRDA nudging 2025 high with 3.3% rise today.

RNS shows at least that DB didn't forward sell. He may decide to sell some of course as there aren't many other reasons to convert warrants if the SP is trending up.

I rudely asked DB yesterday if he intended to sell any of his new shares and he would neither confirm nor deny, saying:

"What I am willing to say is that I am a long term supporter of the company and what it is doing - I am a long term shareholder and it is my belief the shares have significant upside."

He hasn't sold a single share yet - ever. But you never know why people might need cash for perfectly understandable reasons (tax bill, divorce, school fees, etc, etc.)

…compared to 79 times in their year-ago RNS.

Not much in the Croda results RNS to get our teeth into.

"Innovation - our key differentiator

Our innovation pipelines are expanding as customer demand increases for our innovation-led approach:

· NPP sales grew 11% at constant currency and improved to 43% of total sales (2023: 42%)

· We are developing and launching more new products including:

o Luceane, obtained from the bio-fermentation of a marine micro-organism, and proven to reduce premature skin ageing by five years in one month, as well as immediately reducing skin fatigue

o New hair care ingredients derived from ceramides, currently used for skin care, such as Shingo'HAIR DryPure which promotes scalp health

· A rapid increase in application-focused innovation, driven directly by customer requests, which often results in the creation of new formulation ingredients, such as new emulsifiers and surfactants that are PEG-free"

"more external R&D partnership in areas such as biotech"

"we would expect any acquisitions in the near term to be limited to small next-generation technologies."

WIILG, SBTX could easily have agreed to postpone the loan reduction if they had needed to keep the £350k.

The main signal I get from the RNS is that SBTX have cash. Otherwise they would have kept the £350k.

AquaeSulis01 - I call it research and sometimes that does take me down rabbit holes.

SBTX aren't selling tubs of bacteria: they have engineered a product in a way that entitles them to a patent and it must contain more than the bacteria. For example, the growth medium they use could render their product inorganic. And the fact that they appear not to have described their product as organic indicates to me that it probably isn't.

But it could be less inorganic than the stuff they are hoping to replace, thus enabling Croda and cosmetics manufacturers to claim that it moves their end products *towards* a greener, more organic goal – without claiming organic certification. That would certainly be worth having but it presumably wouldn't qualify for the organic sector of the cosmetics business.

I assume you mean this one:

https://www.skinbiotherapeutics.com/investor-meet-interim-results/

The video at 11:50s doesn't actually mention SBTX. We are supposed to assume that she's talking about SBTX but she could be talking about any number of different ingredients/suppliers to her "project".

Unless anyone knows different, I find it compelling that SBTX has never described its lysate as "organic" or "natural", which are the kind of buzzwords I would expect a company to use if they were true.

We certainly have a contract to supply lysate to Croda but I haven't yet found any evidence that it could be incorporated into an end product that the maker wanted to describe as "organic". Happy to be pointed to that evidence but I don't think this video does it.