Share Name Share Symbol Market Type Share ISIN Share Description
Ergomed LSE:ERGO London Ordinary Share GB00BN7ZCY67 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% 127.00p 125.00p 129.00p 128.00p 127.00p 127.00p 11,205 08:40:23
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 30.2 2.1 5.4 23.5 50.45

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Date Time Title Posts
27/10/201617:25Ergomed PLC61
06/7/201621:28Stephen Stamp, CFO of Ergomed (ERGO)-

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Ergomed Daily Update: Ergomed is listed in the Pharmaceuticals & Biotechnology sector of the London Stock Exchange with ticker ERGO. The last closing price for Ergomed was 127p.
Ergomed has a 4 week average price of 121.05p and a 12 week average price of 120.36p.
The 1 year high share price is 171p while the 1 year low share price is currently 118p.
There are currently 39,725,901 shares in issue and the average daily traded volume is 33,339 shares. The market capitalisation of Ergomed is £50,451,894.27.
timbo003: I'm not invested here but they are on my watch list and I attended the ShareSoc presentation yesterday so thought I would do a few notes as an aid memoire. This is the second time I have seen them present in the last year, so some of the slides were familiar. Steve Stamp (CFO) gave the presentation (unfortunately there were no slide handouts so I cannot vouch for accuracy of numbers in my notes). Summary details: * Market Cap circa £50M, Revenue around £30M, EBITDA positive * 100+ clients, 300 clinical studies, 50K patients, 350 employees. * Ergomed has an unusual and diversified business model which consists of four main activities (CRO activities, Pharmacovigilance, co-development portfolio and Ergomed development portfolio). CRO activities: This specialises in a small number of areas (oncology, neurology, immunology and rare diseases, they won’t take on programs which require large studies like diabetes or asthma). This is a profitable part of the business but profits recycled to build co-development portfolio of drugs where Ergomed have a shared interest (5-15%) with the trial sponsor. Ergomed are continuing to buy and build the CRO business as small CRO companies can currently be acquired for 8X EBITDA. Pharmacovigilance: This is profitable with a 30-40% gross margin and demand for services is growing with large pharma outsourcing. Once signed up clients are sticky. Ergomed would like to acquire more businesses like this but they are hard to find. Co development portfolio: This currently consists of 5 products, which cost them the equivalent to £3M last year (not sure about previous years), they were acquired through discounting the CRO fee (discount 30 – 50%) with client companies who are using Ergomed as CRO for clinical studies on the 5 compounds (note there used to be 6 compounds one failed). Ergomed receives a fixed percentage of future royalties and milestone payments which are between 5 and 15% (of the partners income from the compound, not from gross sales should the partner outlicence to a large pharma). In some cases the client has negotiated a cap on the total fees/income receivable by Ergomed. Ergomed 100% owned development portfolio: This consists of two products (Haemostatix) to reduce/eliminate bleeding during surgery which sounded quite low tech, basically a biocompatible occlusive liquid and a biocompatible gel which have convenience advantages over existing products. When asked about the relative value assigned by the brokers to the different parts of the business we were told it was £53m for the combined CRO and pharmacovigilance divisions, £15m for the co-development portfolio, £20m for their own Haemostatix development portfolio and £12m cash. The market cap is currently around £50m (share price circa 120p) and the last placing at 140p per share to fund the latest acquisitions was two months ago (May 2016). What I like about the company is the potential royalty stream from the shared interest portfolio and the existing cash generating CRO and Pharmacovigilance service activities. What I don’t particularly like is that they are also diversified into developing their own products (Haemostatix) and I am always suspicious of continuous buy and build strategies, which is what they are doing for the CRO and pharmacovigilance services and it is how they acquired the Haemostatix develop portfolio. These will stay on my watch list for now, I would be more interested if they sold off Haemostatix and concentrated on organic growth rather than buy and build on the services whilst simultaneously growing the value of the co-development portfolio.
rivaldo: Not a holder here, but been watching for a long time puzzled by the share price fall, and now I know the reason. The placing at 140p is fair enough, but imo the entire attraction of this company has been destroyed by today's transaction. I liked the combination of a reasonably low P/E combined with little downside and large upside from the investments in higher-risk drugs via the investment of costs. Today's acquisition commits ERGO to long-term development with no commercialisation until 2020 at the earliest. The "intention for Ergomed to remain profitable at the EBITDA level" is just a sop. The entire rationale for investing has been completely changed. Why couldn't they just continue to do what they were doing? ERGO is uninvestable for me now. It will likely come off my watchlist unless someone/something changes my mind.
buffetteer: Minx 2 sides of the business -one doing clinical trials and pharma records for pharma companies .both growing very well - 15& 30% respectively .This market for out-sourced services is growing . The other part is the co-development of 5 drugs that Ergo have given clinical trial discounts to in order to share in the upside .Arguably there is no value in the share price of these phase 2 & 3 trials .This has cost the company over £2m in reduced profitability but the opportunity is tens of millions .The first is due end of year I think . Personally if were you I would read the strategy note in the annual accounts which gives a lot of detail in what this exciting company is doing .It is backed up by a first class non -exec Chairman and 2 other non-execs -all of whom are very highly rated and experienced operators who would not have joined this small company for the fun of it .
proactivest: Video interview with CEO Reljanovic Dr Miroslav Reljanovic, chief executive of Ergomed (LON:ERGO), says the company believes it can increase its share price further, which he claims is still undervalued even after a 20% rise over the last six months. Reljanovic believes the acquisition strategy, coupled with newsflow over the coming months, should help the stock to continue its journey north. Ergomed’s CEO says it’s hard to pin down the exact size of the potential market but says the market for oncology treatments in general is very large. The company floated on AIM in July last year, raising £11mln to fund its ambitious growth plans.
Ergomed share price data is direct from the London Stock Exchange
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