SECTOR: HEALTHCARE; MINING; TECHNOLOGY
HEMOGENYX PLC (LON:HEMO)
SECTOR – HEALTHCARE
MARKET CAP – £10m
CURRENT PRICE – 2.8p#
ANALYST: LIAM GASCOIGNE-COHEN
Year-end Dec
2016A
2017A
2018E
2019E
Revenue (£m)
-
-
EBITDA (£m)
(0.5)
(0.8)
Pre-tax Profit (£m)
(0.5)
(2.4)
EPS (p)
(0.00)
(0.01)
Under
review
DPS (p)
-
-
Net Cash/(Debt) (£m)
1.0
1.7
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close. *Northland Capital Partners Limited acts as Joint Broker to Hemogenyx and therefore this information should be viewed as a Marketing Communication.
From Friday: Half-Year 2018 Financial Results and Operational Progress
NORTHLAND VIEW
- Hemogenyx announced its unaudited financial results for the half-year ended June 30, 2018.
- Loss for the period was £647,423 (H1 2016: £137,170 loss) reflecting an increase in project development costs.
- Cash and cash equiValents at June 30, 2018 was US$1.4 million (December 31, 2017: US$1.9m).
- Hemogenyx continues to make progress across its operations since listing on AIM in November 2017.
- CDX antibodies: These antibodies aim to redirect a patient's own immune cells to eliminate unwanted cells prior to bone marrow transplantation. The Company continues to make progress towards submitting an Investigational Drug Application to the FDA. In vitro studies have shown these antibodies can attack and eliminate Acute Myelogenous Leukemia. Hemogenyx also signed a development agreement with an unnamed global pharmaceutical company to complement the Company's own CDX antibodies development.
- Humanised mice model: The Company has developed a new type of humanised mouse which can be used to test and advance therapy development across multiple diseases. This mouse model is of interest to industry. The Company has entered collaborations with the Rockefeller University and also a leading US biotechnology company, which has the potential to deliver revenues to the Company of c.$250k and we expect this model to form the basis of future collaborations.
COMPANY DESCRIPTION
Preclinical stage company developing therapies to transform bone marrow and blood stem cell transplant procedures
SECTOR – MINING
RATING – CORP*
MARKET CAP – £2.1m
CURRENT PRICE – 0.11#
ANALYST – BARRY GIBB
DR RYAN D. LONG
Year-end Dec
2016A
2017A
Revenue (£m)
-
-
No forecasts provided
EBITDA (£m)
(0.6)
(0.4)
Adj. pre-tax Profit (£m)
(0.6)
(0.4)
Adj. EPS (p)
(0.08)
(0.03)
DPS (p)
-
-
Net Cash/(Debt) (£m)
(0.4)
0.5
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-
SOURCE: Northland Capital Partners Limited estimates. #Priced at prior trading day close.*Northland Capital Partners acts as Nomad and Broker to Alexander Mining and therefore this information should be viewed as a Marketing Communication.
From Friday: Interim Report highlights Potential for Kapili Tepe Agreement
NORTHLAND VIEW
- Alexander Mining plc announced its unaudited results for the six months ended 30 June 2018. Losses for the period totaled £276k (H117: Loss £261k), amounting to a basic loss per share of 0.01p (H117 loss: 0.02p) from continuing operations. Management stressed its efforts remained on keeping overheads to the minimum necessary, whilst maintaining required expenditure on business development and intellectual property protection. The Company's cash position at 30 June was £662,043, which it believes will provide adequate working capital through to the end of June 2019.
- The Kapili Tepe copper project at Sivas in Republic of Turkey is on course to be acquired by Canadian company Deep South Resources Inc., subject to completion. This opportunity permits Alexander, under a technology licensing and consulting agreement announced in June 2018, to investigate the potential use of its technology in a full commercial-scale processing plant. In addition, subject to Toronto Stock Exchange approval, Alexander also is expected to receive 500,000 shares in DSR. Further also to its 21 February announcement regarding a commercial and technical partnership agreement with Proses Mühendislik, Danışmanlık, İnşaat ve Tasarım AS, efforts are now centering on investigating the commercial use of Alexander's base metals leaching technology in Turkey.
- While progressing R&D initiatives for HyperLeach®, lithium and vanadium, for which results are presently awaited, a new project has also been started to examine its use as a method for recovery of copper from the low-grade porphyry halos which surround higher grade sulphide deposits.
Management focus remains on commercialisation of its proprietary mineral processing technologies and securing potential strategic partnerships in producing mines, and through equity and/or royalty positions in advanced projects. Delays, however, as were seen in August with Accudo’s plans stalled by its inability to secure necessary financing, remain an ongoing frustration. This has been recognized by the Board choosing to now broaden its business opportunity by also “aggressively investigating a range of potentially complementary corporate investment opportunities in the mining sector” albeit limited by a relatively weak balance sheet.
COMPANY DESCRIPTION
Alexander Mining is a mineral processing technology business, seeking to commercialise its leaching technologies.
PHOTONSTAR (LON:PSL)
SECTOR – TECHNOLOGY
RATING – CORP.*
MARKET CAP – £1.1m
CURRENT PRICE – 0.15p#
TARGET PRICE – N.A.
ANALYST – MIKE JEREMY
Year-end Dec
2016A
2017A
Revenue (£m)
5.32
4.55
No forecasts provided
EBITDA (£m)
(0.70)
(0.48)
Adj. pre-tax Profit (£m)
(1.43)
(1.24)
Adj. EPS (p)
(0.62)
(0.51)
DPS (p)
-
-
Net Cash/(Debt) (£m)
(0.61)
(0.79)
P/E (x)
-
-
Dividend yield (%)
-
-
EV/EBITDA (x)
-
-