Cobra Bio-manufacturing Share Discussion Threads

[jdb2005] 15/6/2009 09:51

Waiting for Genvec decision - worse case Cobra could get just over half million pounds compensation best outcome confirmation they will go ahead with their trials.

[the_doctor] 01/6/2009 12:29

'33% of the current issued ordinary share capital of the Company'

While all AGMs tend to have this sort of provision, I'd assume that Cobra has prudently considered the possibility of raising more funds via equity.
They could perhaps raise £300k this way, which would give them a little extra breathing space.

[alibongo612] 20/5/2009 11:39

Pre clinical trial supplies are tiny volumes - significant volumes years away and only if the development progresses , the odds against which are quite high as in this sector failure is common

[the_doctor] 20/5/2009 10:07

jdb - it is a perfectly good point

If it is worth something, why would Cobra not announce it?
By that, I mean worth something for 2009, not years away that might never come.

You go on about orders secured but miss the point that Cobra dies without more! The orders for 2010 are not just a bonus, they're a necessity.

[jdb2005] 20/5/2009 10:03

Ali - still barking up the wrong tree it seems !!

Cobra will develop and manufacture bulk quantities of KAHR's TSCP proteins for preclinical and future clinical testing. Currently, two recombinant proteins, KAHR-101 and KAHR-102 are being tested in preclinical studies as potential treatments for rheumatoid arthritis (RA) and psoriasis.

If these trials go well Cobra could have significant revenue flow.
That is when you may see RNS but company tend not to publicise all their contract wins. Remember their statement they had at 31 March £11m of orders secured - 30% more than last year's total.

[cgod] 20/5/2009 09:50

I would say that the offer was very low and getting this contract they were happy to walk away, things could be looking up soon. IMHO

[alibongo612] 20/5/2009 08:49

The question is - is it worth much

[the_doctor] 20/5/2009 06:42

Could receipt of that contract have resulted in Cobra telling the other party to go?

The termination RNS certainly wasnt worded that way and they havent announced that contract.
Agree cgod - if I was a holder here, I'd be calling to ask why they didnt include that in the RNS

[cgod] 20/5/2009 06:36

Why No RNS on the above? What are they up to.

[rohkap] 19/5/2009 21:16

Now the bid talks have terminated management can at least focus on saving the business.

Anyone got any thoughts on fx seeing as a decent amount of revenues is $/€ denominated? This year, CBF is going to get a boost from fx rates, but worryingly £ is strengthening again. This year will be ok as they should have fixed at favourable rates but cable at $2 may hurt in the following year. It would have been useful for the company to have shown the order book at constant exchange rates so we can strip out the fx benefit.

Some good news on overseas business wins:

11 May 2009
KAHR Medical and Cobra Partner to Develop Trans Signal Converter Protein Production


Keele, UK and Jerusalem, Israel - Cobra Biomanufacturing Plc (AIM: CBF), the international manufacturer of biopharmaceuticals, and KAHR Medical Ltd., a Hadasit-Bio-Holdings (HBL, TASE: HDST) portfolio company that develops novel drugs for the treatment of autoimmune diseases, announced today a partnership agreement.

Under the terms of the agreement, Cobra will advance KAHR Medical's Trans Signal Converter Protein ("TSCP") technology using Cobra's maxXpress service and recombinant protein production expertise. More specifically, Cobra will develop and manufacture bulk quantities of KAHR's TSCP proteins for preclinical and future clinical testing. Currently, two recombinant proteins, KAHR-101 and KAHR-102 are being tested in preclinical studies as potential treatments for rheumatoid arthritis (RA) and psoriasis. Cobra has already developed a purification process for KAHR-101 and batches have already been produced for preclinical testing.

Simon Saxby, CEO of Cobra Biomanufacturing Plc said, "We are delighted that KAHR has chosen Cobra to help develop its TSCP technology. Cobra's maxXpress service and recombinant protein expertise enable it to provide the required tools and solutions necessary for companies looking to start on the road to clinical trials and market supply. Also, Israel has a rapidly expanding biotech industry and we are very pleased to be establishing a very good relationship there."

Dr. Noam Shani, CEO of KAHR Medical said, "We have been working together with Cobra for about 18 months on KAHR-101 and KAHR-102 and they have done great work developing a production process for KAHR-101. We are looking forward to a long and successful association."

[alibongo612] 14/5/2009 09:13

Either he hasn't a clue re the basics of financial management or he is winding you up - I don't know which.

However on either basis clearly to debate with him is a total waste of time

[the_doctor] 14/5/2009 09:06

Jdb, he is being totally rational.
No offence, but I really dont see how you can say 'You are not being serious !!!' to anyone.
Quite frankly, I actually dont know whether you believe yourself, or do this deliberately!?

[jdb2005] 14/5/2009 07:50

Ali - lol. You are not being serious !!!

They could be receiving £1m from GenVec next month. I am surprised at your negativity but either you have lost money recently or just like to be a cynic.

[alibongo612] 13/5/2009 18:16

I'm begining to conclude the doctor is right about you.

I didn't say anything remotely like " I believe Cobra is hopeless at managing costs "

My comments were re cash flow.

If you can't differentiate between the two it is a waste of time debating the issue with you.

However if that is the case and you are not simply being perverse then for your own protection you really shouldn't be investing.

[jdb2005] 13/5/2009 15:32

Ali if you believe Cobra is hopeless at managing costs why not short them ??

Think you forget that CBF will have carefully costed out their business plans and added a premium to all their contracts that they win. They will require % paid upfront on all orders plus penalty clauses enforceable for late payments.
When they tell you they have an order book for £11m only 3 months into their new year that means they have a stronger position now compared with last year. Agree that tight budgetary controls and careful cash flow management are essential in running any successful business.

[alibongo612] 13/5/2009 14:12

Cash adequacy is all about timing not order books and what ifs

[jdb2005] 13/5/2009 12:22

Don't think so Ali - You see I have discovered that GenVec will be receiving further $3.8m from US Government for HIV vaccines programme so hopefully they will honour their contract with CBF. You can always short it if you don't agree.

[the_doctor] 13/5/2009 12:18

To be fair, he 'may' end up being right.
I've personally not said that success cant come - just that (in agreement with you), there are cash issues.

[alibongo612] 13/5/2009 12:11

Jdb is clearly an ostrich re CBF's very real cash issues

[the_doctor] 12/5/2009 18:34

'One day you are saying the order book looks good and then trying to imply they don't have the cash to pay their way'

I'm saying it is a fine line. They have just enough orders, assuming no slippage again.

I'd suggest continuing with your own research (some sounds useful), but just not to ignore the negatives that are clear from the Annual Report. Perhaps you take a more balanced view off-board than the one you post?

[jdb2005] 12/5/2009 17:56

Phoney - It seems that you know very little about vaccine manufacture and running a business. One day you are saying the order book looks good and then trying to imply they don't have the cash to pay their way.
I would much rather rely on my research than yours.
I repeat again £11m orders secured for 2009. 9 more months to increase their performance and to show investors they can run the business profitably.

If they did not deliver products on time and to specification they would not be winning repeat orders.

[the_doctor] 12/5/2009 17:47

jdb - not wishing to cause further bickering, but the cash concerns ie. Cobra being on the ropes relates to cash flows. This is clearly explained in the Annual Report. Nobody is questioning their contract manufacturing ability.

The sceptics ARE right that Cobra is on the ropes. Even the company admits it.

It all boils down to getting new orders in and existing orders progressed ON TIME. I'd agree with you that Cobra's clear expertise should help it in winning new orders.
It sounds like they have enough for 09, so the situation IMO is:

- ensure no slippage in 09
- ensure more orders in 10

[jdb2005] 12/5/2009 17:43

12 months ago Cobra announced that it had won prestitious award - I therefore do not believe the sceptics are right in their view Cobra is on the ropes:

21 May 2008 - Cobra Biomanufacturing Plc Wins 'Best Contract Manufacturing Organisation' in ViE Awards
Keele, UK: Cobra Biomanufacturing Plc (AIM: CBF), the international manufacturer of biopharmaceuticals, today announced that it has won the award for Best Contract Manufacturing Organisation at the Vaccine Industry Excellence (ViE) Awards. The awards were presented at a spectacular gala dinner at the Hyatt Regency in Crystal City, Virginia, USA, as part of the World Vaccine Congress.

COO, Simon Saxby said: 'The award for Best Contract Manufacturing Organisation endorses Cobra's vision to deliver a best-in-class service to our clients. This has been achieved through the expertise and experience of Cobra's people and I must thank them for their continued dedication to our clients.'

Cobra was selected over four other finalists in the Best Contract Manufacturing Organisation category. The award supports Cobra's global reputation for the manufacture of proteins, viruses, DNA and live cells for clinical trials, including Phase III and pre-market material, at its cGMP manufacturing facilities in Keele and Oxford, UK.

As more pharmas turn to Cobra for help in the manufacture of new therapeutic vaccines using their expertise in this field their current share price of 2.5-3.5p will seem a real bargain.

[the_doctor] 11/5/2009 11:39

Whatever jdb - you're only fooling yourself

[jdb2005] 11/5/2009 10:38

Phoney - stick to your knitting and go on ramping your own bombed out oilers.

You have no facts on which to make wild comments other than last year's.
Order book has passed £11m and is £3.5m higher than at this stage last year.