Share Name Share Symbol Market Type Share ISIN Share Description
Eden LSE:EDEN London Ordinary Share GB0001646941 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 10.25p 10.00p 10.50p 10.25p 10.125p 10.25p 177,104 09:57:55
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 0.4 -1.9 -1.0 - 21.22

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Date Time Title Posts
20/10/201717:15Eden Research2,867
07/3/201713:47Eden Research- The Natural Solution172
27/2/201611:20Eden Research- The Natural Solution3
18/5/201202:24Eden Research6
17/5/201216:00The sterile garden of Eden118

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DateSubject
20/10/2017
09:20
Eden Daily Update: Eden is listed in the Pharmaceuticals & Biotechnology sector of the London Stock Exchange with ticker EDEN. The last closing price for Eden was 10.25p.
Eden has a 4 week average price of 9.88p and a 12 week average price of 9.88p.
The 1 year high share price is 15.63p while the 1 year low share price is currently 9p.
There are currently 207,064,337 shares in issue and the average daily traded volume is 153,240 shares. The market capitalisation of Eden is £21,224,094.54.
19/10/2017
14:19
investingisatrickygame: littlealbatross2 "Would anybody care to suggest what a fair take out price might" Who knows, but you have to assume that Eden is extremely cheap at £21 million purely based on the often quoted cost and time (usually $200 million and 10 years) to develop and bring a new pesticide to market . Here is an example at £140 million and 10 years hxxp://www.nufarm.com/Assets/1138/1/PesticidesinPerspective.pdf And here is the reason why Eden could be valuable on 3 AEY alone hxxp://news.agropages.com/News/NewsDetail---14166.htm Encapsulation, Bayer and Eastman are just a few areas to add potential material value. Sipcam has already confirmed that they are working with Eden to develop new products and co-encapsulation to assist existing products and keep them on patent will likely appeal to the majors in this industry. So these numbers should provide a starting point to try and understand the potential appeal and value of Eden to an industry player. What Eden needs to do is sing from the same hymn sheet and communicate this message to a wider investment audience and get money going into its share price. Eden would not be off message or out of sync to have investors understand this timeline and cost to others.
14/10/2017
10:17
investingisatrickygame: Well maybe the Chairman in waiting is Bayer's man going forward. Let us hope so. Some existing shareholders keep selling, so hence pressure on the price in a somewhat thin market. As for education, I think it needs doing regardless of how long people have been invested, You only have to sit round the table with investors to realise people have a different understanding of a whole set of circumstances. That comes across on these and other BB's too, with any stock. This circumstance is always the same. This "education" will serve its purpose in that way to correct misunderstandings and firm up existing shareholders enthusiasm for Eden. Hopefully, this stops selling at certain price points and may even encourage some new investment from existing holders, where funds permit. However, I believe it is important to be done and to start the story from the beginning, right up to where we are now. Why? Well there is this huge pool of non-invested investors and they know nothing about Eden, hence they have no motivation or understanding of why they should buy. This is where the power of investor communications which the Company can control as opposed to PR which they and their advisers cannot control, will come into play and reward the Company and its associated share price. Visuals are always much stronger than the written word. Film and video on the internet is growing at a rapid rate and has done for some while. The board needs to get themselves "in front of investors" in exactly the same way they would do with institutions. Can you imagine Eden delivering the investment case to institutions simply in the form of an RNS? No! They would go there in person, make their presentation, receive and answer questions and sell themselves as the right management team too. Well PI's need the same assurances. Go on film personally, make yourself known to your invested and potential investment audience, make the investment case through telling the story properly and thus you then have people wanting to buy your share price, they buy into you (as a management team) and hey presto, your share price rises. Moreso, those investing will forward that film to friends, family, colleagues and more. It is perfect word of mouth and the story stays consistent and from the horses mouth, without third part interpretation, thus the story stays as fact and as management intended.
14/10/2017
00:00
investingisatrickygame: supersonico "So for me the investment case is easy and clear" For you and me maybe, but investors generally it is not. The primary reason for this in my opinion, is Eden continues to resist introducing and yes, selling Eden to a wider private investor audience. Given all that you mention, they most certainly should be. There is no reason or restriction as to why they cannot. There is little danger of the share price getting ahead of itself if Eden were to embark on such an effort as the share price is so low. So who is giving Eden bad advice in this respect and why are Eden listening? You have to assume it lies at the door of Shore Capital and they are totally detached from Private Investors and do not engage with them. So, they are not the best placed people to advise on the same. "My question I have is why have Eastman , Bayer , Sipcam , Sumi-agro not bought us out? Eastman and Bayer are serial buyout merchants so why is Eden still independent??" Good question, but maybe that question could be delayed for another 3-4 months when Bayer is expected to be a customer. I personally don't believe, based on the current share register, that they could resist an unwanted bid or a lowly bid. All the more reason to go on the communication offensive and ensure the Company and its prospects and prospective value is well understood. Thus the price will rise and were a bid to come in it will then be at a higher price. "Does the licencing of different applications deter a Take over..any thoughts??" I believe this is a great reason to put in a cheap offer for Eden now, likely accepted by the majority of PI's which would swing the vote. The benefit of these other applications to any would be buyer e.g. Sipcam, is that they could then spin off everything outside of 3AEY and get their original purchase price of Eden back and likely a profit too. In other words whether it were Sipcam, Eastman or Bayer in the scenario you propose, they end up owning outright that part of Eden's business that they require. Relevant personnel and external partnerships then stay in place to maximise the new owners exit on the other patented offerings. Eden staying below the radar and they are well under the radar in real terms, makes them vulnerable. Eden going above the radar will increase their market cap (if done properly) and thus protect their perceived value and subsequent value for shareholders. It will be a crying shame and a farce if a cheap bid comes in and Eden go on the front foot trying to defend the unwanted bid having done nothing to educate and protect shareholders in all the time leading up to that point, including protecting the Company from the same.
13/10/2017
17:07
investingisatrickygame: supersonico. Good if they act immediately and companies like Eden can benefit Northwick These advisers are passive and subscription fee collectors. I can't see much changing in that respect. They will likely only react when the PI put momentum behind the share price. The PI will only likely put momentum behind the share price when management explains properly and in detail, Eden and the investment proposition. Clearly this has never been done.
21/9/2017
09:09
investingisatrickygame: I can't see why in the current circumstances and foreseeable future Eden would need to do any more cash calls. I think they have said as much themselves. Any further dilution of retail investors would seem unpalatable. Cash generated from operations should suffice. They are sharing R and D services in collaboration with Sipcam. Furthermore, distributors as RNS'd are absorbing marketing and other costs, thus alleviating the initial cash investment from Eden. The model is now set and proven, so no more cash calls. Fair value of share price should now be Eden's focus in association with shorecap and Powerscourt. Companies come to market via IPO selling investors their vision of capital growth and investment returns. It's about time, isn't it, that some investment returns are put on the table to reward people. New investors can then enter for the next stage of growth, more secure in Eden's future prosperity. Existing investors will likely leave something in the pot too.
17/7/2017
15:32
investingisatrickygame: I guess it all depends how you measure fair value. For sure, any broker notes issued will focus on revenues for the next three years. Shore Capital have taken out of the equation 'potential' to focus pretty much on sales of 3AEY and then the deal with Eastman Chemicals too. 1) One could look at what Syngenta and I think, Bayer, publicly declare on their websites for the capital cost of developing a new product to patent stage and therefore ready for commercial sale(Eden has achieved this and is now selling product). Both state this to be in excess of £200 million. Eden spent £12 million. This suggests to me, significant headroom in the share price for where we are today. So, if for example, Eden was capitalised at £50-£100 million, that wouldn't seem unreasonable, would it? So somewhere between 24-48pence today 2) You can then look at sales of 3AEY (as yet unknown for this year as we are too early in the season). Remembering that 3AEY uses 4 litres per hectare and can be applied up to 4 times per season. So everyone can make their own calculation based on assumed sales in litres this year and assumed margin per litre. take away Eden's running costs (around £1.4 million per annum as per the 2016 accounts) and multiply the resulting sum by a P/E ratio of 20/30. With 207 million shares in issue we can all come to a number and it is a lot higher than 11.25pence. Of course, if the Company could be more exact to the market with the missing numbers, we could all be a bit more accurate 3) Another likely early revenue stream from Sipcam, I assume, will be when they blend their active ingredients for one or more of their existing pesticides (maybe one likely going off patent) with our active ingredients to reduce the chemical trace and its ability to stay on patent. The numbers for this, we understandably do not know 4) As well as, for example, 3AEY, you have the value of Sustaine with its slow release benefits and that too must carry immense value and benefit in the field, as well as back to shareholders. Scenario 1) is easy to assimilate now, scenario 2) requires the interims to give us an indication, scenario 3) will possibly take a bit more time and scenario 4) will I imagine, add to the product advantage in the sales process for Sipcam and Sumi-Agro, so that should be reflected in our sales litres this year. Scenario 4) takes no account of the technology applied to other products developed. I know of some who think the shares are worth up to a £1 as we stand today. I doubt Sipcam are in it for 24pence and their own sales will be all important to the share price so they will likely go hell for leather. I would assume fair value is north of 50pence today taking account of the above. As for the separate EU member state approvals, I am not entirely sure. I have been told in the past, but cannot remember. Maybe that is a question you can email to Walbrook and post the answer back here.
17/7/2017
12:37
investingisatrickygame: Eden has clearly gone commercial and in what we hope is a successful and profitable way. With Sipcam SpA being a major distributor in this sector and product creator, their chosen alliance and investment in Eden with a clause that restricts the selling of their shares for 3 years is a welcome one. Equally, so too will be their board appointment. This all adds commercial weight and gravitas to Eden's development and is very welcome. Eden has clearly developed a niche in both its slow release system and with its management of volatile terpenes, natures own defence mechanism. In fact, the very nature of controlling volatility to enable a product to work defensively against disease is a very creative one and one that evidently the majors hadn't thought to do or were unable to do. Patent protection will now secure Eden's ability to deliver revenue through commercial agreements that should deliver substantial profits. This is one side of Eden Research Plc's business, one collective product area and although some feel it has been slow, it is now here, it is real and management definitely deserve credit for delivering the same. Successful sales of 3AEY now rest, predominately with Sipcam SpA and Sumi-Agro France. In effect this should be a collective effort, one would assume, given their relationship to Sumitomo, whom I assume, are also keeping a keen eye on developments. I imagine they will be looking at Sipcam SpA to monitor how the collaborative elements of the arrangement unfold in regards to new product development, expansive use of Eden's Sustaine technology and extended patent life of existing SpA pesticides. I wouldn't mind betting that internally, they also have a value attached to the same which easily outweighs their £2 million stock investment in Eden. They will also see additional value back to them through an increase in Eden's market capitalisation. What I now hope to see is Eden and Sipcam manage their other product in their portfolio, namely their share price. Given its volatile nature, one could easily draw a line to the management of terpenes to create an easy understanding for the need to reduce negative volatility in their share price. The share price may arguably be stable now, but it is stable at a very low price, to the negative if you will. Some simple time and strategies to complement their operational product areas will be very welcome, especially now that they have some breathing space to do the same with 3AEY over the line and funds in the bank and on the way. Successfully delivering 3AEY gives Eden breathing space to now move on to other product developments, other commercial arrangements and more (notwithstanding Eden wants 3AEY registered in other countries around the globe). If Eden and Sipcam could successfully manage Eden's share price to fair value today, it would be for the benefit of both parties, reward institutional and retail shareholders who will no doubt feel more confident in spreading the word, whilst not necessarily selling up given the greater confidence and visibility they would then have. If they can manage volatile terpenes, I'm confident with all that they have to offer that they can manage a volatile share price. It is after all, one of the fundamental reasons that they, along with others, became a listed Plc.
27/2/2016
10:45
the prophet: Beautiful day here and a delight to read the Eden thread without the puerile rubbish on the old one. Here is a good over-view of the Shore Capital note from the Michael Walters site. This is a free article, btw, so I'm it's ok for me to post it, with due recognition. http://www.michaelwalters.com/stories/news.phtml?num=4417 Eden - Worth More, or Much More? - (EDEN) 30/11/15 (119264) Let's face it. None of us knows what Eden Research (EDEN) is really worth, no matter how long we have been watching, wishing, and hoping. When the issued capital was much smaller, ages ago, some of us paid many times the current price of 16.25p (up 1p) today. There are still hopes that we could see those levels, and more, again - but lending logic to that set of sums has always been elusive. The latest, and much the most convincing, attempt to add substance to the dreams comes from new house broker Shore Capital, which has a highly-rated research team in the small company/ food producers area. Signed by analyst Phil Carroll, written with the shares at 15p, this suggests a fair value of 22.5p, backed by a full revenue potential analysis citing fair value at 79p by projecting revenues out to 2019 then discounting. So we have the usual analytical guesswork which sticks a finger into a range of options, and pulls out a nice number. Peer more closely at the assumptions, and you arrive at anything between 63p and 16p (Shore chooses a conservative 22p) on the 'core' Eden business depending on whether you use a discount rate of 8% or 14% and a terminal growth rate of 1% of 4%. Apply the same discount and growth boundaries to the 'full revenue potential', and you come up with anything between 58p and 223p. Shore picks a cautious 79p. Do not assume that pointing to the vast variables in the Shore valuation method is a criticism. It is not. But it is worth emphasising that we are not talking absolutes here. We have a broker doing what brokers do, and attempting to give some measure of what Eden might be worth. We should be grateful for that, especially since predicting what might happen with Eden (or, rather, when it might happen) has never been easy. Rather than attempt to wade through full 31 pages of the Shore report, it is sensible here to assume that subscribers already know the basic Eden story pretty well - it is developing a series of benign products based on using combinations of three natural terpenes, applied via a patented system of encapsulating them in yeast particles which effectively spreads the delivery time when they are sprayed. There have been long delays getting them through the regulatory system, but the first approvals are in. The most immediate applications are in agri-chem, with a vast range of other possible uses, including animal and human healthcare, food ingredients, cosmetics and home and garden products. Five products are in various stages of development, led by 3AEY, which is about to start sales as a fungicide targeting botrytis, a disease which badly damages grapes. Then there is B2Y, a nematicide targeting soil pests and being evaluated by global giant Eastman (option until next March), 2EY, tackling powdery mildew, and GO-E, the encapsulation technology. Shore expects approval for 3AEY from remaining southern EU states either before the year-end or early in 2016, allowing sales in the next growing season. Companies associated with Japanese giant Sumitomo are partners with Eden to sell in the key grape-growing countries of Italy, Spain and France, and one of them (Sipcam) is evaluating two new products - 2EY (to treat powdery mildew) and 1EY (for apple scab). The other Sumitomo company also has rights to develop other Eden plant protection products. In Kenya, at last Lachlan has approval to sell 3AEY. Eden estimates the market for botryticides like 3AEY is $300m a year. B2Y, the nematicide being evaluated by Eastman and about to undergo the registration process adresses an estimated market worth $1.3bn a year (Eastman's market leader nematicide Metam is under significant pressure, says Shore). The powdery mildew product B2Y, going through registration and backed by a Sumitomo company, tackles a market worth about $750m a year, with particularly high value in Africa. There is a pipeline of other earlier stage products, including 1EY. The broker suggests Eden has a significantly reduced risk profile now that 3AEY has reached commercial sales, and other approvals will trigger milestone payments, helping Eden move into profitability in 2016, a major positive for a biotech company. The business model has significant leverage potential, with further deal potential with other companies in the global Sumitomo network. The same applies to the current option deal with Eastman, and Eden can licence GO-E encapsulation technology for use in industries outside agri-chem. It is currently licenced for head lice treatment with TerpeneTech and with Bayer in flea, tick and shampoo animal health products. Disappointingly, the broker does not expect volume Bayer sales to begin until 2017, with some early initial sales in 2016. Intriguingly, looking at GO-E, the broker uses the example cited in earlier Eden material. That points to Trifloxystrobin, one of Bayer's best-selling agrochemicals at $400m a year. That is now off-patent, but as an example could be used with GO-E to add benefits and extend patent life if co-encapsulated. Eden has often touted the potential benefits of such co-encapsulation opportunities for extending the life of chemical products for major companies, but has yet to conclude a deal, and has never formally said there were talks on such a deal with Bayer - but it keeps coming up (we know Bayer moves at the pace of a constipated tortoise). The broker suggests that Bayer Cropscience could be a potential source of deals in the future. It all adds up, sort of, to a set of core revenue assumptions which the broker splits between current agreements and those under evaluation. Current goes from 2015 revenues of £710,000 to £680,000, then to £1.9m for 2017, £2.61m for 2018, and £3.33m for 2019. Deals under evaluation are reckoned to bring in revenue in 2015 of £21,000, rising to £990,000, then to £1.33m, £3.54m, and £5.6m for 2019. It is these core assumptions, discounted cash flow analysis applied, which support the 22.5p fair value estimate. Then we have the 'full revenue potential' model. That takes in the possible revenue streams based on products which are still being developed, such as 2EY for powdery mildew or the application of GO-E for use in animal health outside the USA. And they include products not licensed or under evaluation. This is heavily loaded with revenues from ag-chem in 2019, when they leap from £3.23m to £15.94m, and form the bulk of the projected revenues of £24.83m for 2019 (up from £11.16m). In turn, the vast bulk of these 2019 revenues - £13.78m - would be generated by products still under development. These assumptions are set against a background of an underlying costs base of £1m a year, growing at mid-single digits, so operational gearing is such that revenues quickly fall through to the bottom line with only modest deductions. Research and development spend is capitalised and then amortised through the income statement (£700,000 currently), and the broker assumes a continuing prudent approach to R & D which would allow the company to become self-sustaining on a cash basis by 2017. There are trading losses of £21m, taking out the charge for tax for a while, and the broker assumes any short term cash need would be satisfied by debt rather than equity. Free cash flow turns positive in 2017 on the core model, a year earlier on the full revenue potential basis. What else? The encapsulation process has opened up exciting opportunities in non-agricultural fields, such as medicine and dentistry, where the antimicrobial properties of terpenes can be effectively applied at controlled doses for wound healing and oral health applications. Eden is at an advanced stage in developing a series of competitive antimicrobial and invertebrate-control agents suitable for use in vineyards and greenhouse and on a variety of high value field crops. The potential for finding further applications of terpene formulations in agricultural and health care is 'vast and clearly exciting' says the broker. The collaboration and licence agreement with Intellectual Ventures protects existing patents, expands Eden's intellectual property portfolio, and using the strength of IV to provide new deal opportunities. IV has agreed to use its own capital to support Eden's objectives, and the deal should make Eden a more attractive potential partner to work with. The ag-chem market has seen a reasonable level of merger and acquisition activity in recent years, Shore says. Over the next decade, the use of biological solutions is set to record double-digit growth, and by 2030 could represent up to 10% of the global crop protection market. This is positive for Eden's prospects. Listing several deals, Shore points to Bayer's acquisition of Agraquest for Euros 340m (£230m) plus milestone payments in August 2012. Shore thinks Agraquest had revenue of $7m in 2012, so it is probably the most comparable company in the chosen deals to Eden. At 16.25p, Eden is capitalised at £26m. Shore says it could be a potential target in sector consolidation. That is a summary of the broker comments, and they point up the attractions of Eden to investors who may have been hanging on, grimly believing, while a tight financial position has brought risks galore to an otherwise enormously attractive proposition. Few shareholders would want to see Eden taken out by an early bid, given the modest share price in recent years. Medium to longer term, however, that is a clear prospect. The potential applications of terpenes, coupled with the encapsulation process, appear massively wide-ranging. The Shore note fills in some of the gaps, but must remain vague on just what might accrue from which deal. So far, the numbers have been small. But the markets Eden's products could be addressing are massive, and a big money partner could help move things fast. There is little mention in the report of opportunities in America, where the market must be vast. There appears to be general confidence that Eastman will go ahead and exercise the option next spring, pulling in a decent milestone payment, and covering some of the American opportunities. But the lack of comment about America, north and south, is surprising. Could there be big new opportunities there, and in the Far East, where Sumitomo is an obvious player. If anything, the Shore sweep of potential developments looks on the conservative side, which is where it should be. Eden itself remains constrained by a shortage of cash. It is debt free and ought to have cash in the bank after the recent TerpeneTech deal, while Lachlan will bring what will presumably be a modest milestone payment. No-one would, however, welcome a dilutive fund-raising at close to current prices. Hopefully the Shore note and marketing presence will help bring more institutional investors into Eden, perhaps reducing the volatility of the shares. The problem remains the glacial pace of regulatory approvals, despite the obvious environmental benefits of Eden's products. Even now, we are not completely clear of all of the red tape holding 3AEY back in Europe. Though the process ought to be somewhat faster for subsequent products, no-one can be sure of smooth and timely progress. As it has for so long, Eden still looks an excellent growth opportunity. No guarantees, but much of the risk has gone. Go for it. I have a holding in Eden Research.
18/2/2016
10:50
redhill9: TW didn't trash Eden share price Agreed, but he tried to, and is still trying. I doubt if he's stupid enough to actually be short but he benefits from making provocative claims as this generates traffic through his website.
18/2/2016
10:26
monet: TW didn't trash Eden share price, it was the selling of 3.3m shares by a EIS fund. The three year qualifying period for tax relief was up so had to sell.
Eden share price data is direct from the London Stock Exchange
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