||EPS - Basic
||Market Cap (m)
Real-Time news about Phosphagen. (London Stock Exchange): 0 recent articles
|ladybird1: Just so, gentlemen. But down another 7% odd last night on good volume.
Mr.Rosen's statement I think makes it clear why. Rather wildly bullish talk about the prospects, how easily money was raised and how big pharma is queuing up for partnership in the same breath as how difficult it might be raising funds if they don't do it now. There has obviously been keen local criticism of the fund raising and undoubtedly the company's credibility has taken a beating.
I hope, as do we all, that one of the products makes it and fulfils Mr.Rosen's view this will multiply the share price, but for the present the fundraising has done nothing for credibility.
I also wonder why Mr.Preston decided to leave so suddenly. No explanation given that I can find.|
|rambutan2: Would be nice to think that one of PSG's ventures will give us a boost during this year.
On the downside, I suppose the cash sit could become an issue. Could do with a nice payment from someone, or the share price shooting up to a level which doesn't dilute us.|
|lgw: I think that the penny sleuth are tied up with Red Hot Penny Shares.
RHPS had recommended PSG to clients only to recommend selling due to lack of action in the share price.
I will put 2&2 together and guess that Tom bulford (RHPS) is looking again at putting out a buy rec on PSG but is wanting to raise the profile of Penny Sleuth by letting them get in there first.|
|lgw: What about the bit that Alza would "not permit" PSG to releasing the results of the trials (on the drugs that Alza themselves supplied to PSG) because Alza would not want to "give any impetus" to POH share price.
Surely this is illegal, as the results of these trials would most certainly be price sensitive: or were BBY implying that takeover would occur BEFORE these trial results were fully finalised? hmmmmmm|
|lbo: Nice article
Consolidating the top end of the market, large pharmaceutical movers and shakers are increasingly turning to smaller ventures focused on niche areas to supplement their portfolios. AIM- and Aussie-listed Phosphagenics is a case in point.
The Melbourne-based company produces a diverse portfolio of technologies for the drug delivery of a number of compounds and frequently reinvigorates Square Mile interest with updates on progress.
Lately, two key 'feasibility and product development' agreements have been signed which should pave the way for eventual distribution and licence agreements. One with Nestle Nutrition for 'Phospha E', a 'superior' form of vitamin E, starts preclinical trials soon. A second (with Alza, part of Johnson & Johnson) is for feasibility studies into patented transdermal technology (creatively named TPM-01). The delivery of various compounds should complete by the third quarter this year.
More recently the company announced Phase IIa (read late-middle stage) clinical trials for TPM-01/Morphine, a non-invasive gel or cream delivering morphine into the blood stream through the skin, as well as the beginning of Phase I trials for a similar product for insulin delivery.
This racy slew of announcements alone hasn't converted me. What I like is the group's impressive financial firepower and the fact that profits are forecast to be on the way. Some £5.4 million of cash furnished the coffers at the December year-end and analysts are tipping the company to be 'just profitable in 2006', before hopefully turning significant profits thereafter.
I think the current 11p share price valuing the business at £60 million is too low. Analysts at contract research house Equity Development agree, suggesting the shares could be worth as much as 41p-50p. For me, Phosphagenics is a good speculative bet|
|suesean1: LONDON (AFX) - AIM-listed Australian pharma group Phosphagenics Ltd said it
is aware that an offshore financial institution has acquired a parcel of
Phosphagenics' shares last week.
In response to an ASX query on the movement of its share price, the company
said another reason the rise in the price and volume of its shares could be due
to the Phase 1 clinical trial of its patented transdermal insulin delivery
As previously announced, receipt of the full analysis of the trial is
expected by September, as expected.
Phosphagenics is also expecting a preliminary report from the principle
investigator shortly and will subsequently release details of this report.
Further, as announced, the company said it expects operating loss before
abnormal items and tax for the half year to June to vary materially -- about 1.2
mln aud greater -- from the previous corresponding period.
|suesean1: 23 August 2006
On 22 August 2006, the Australian Stock Exchange ("ASX") published a response
by the Company to an ASX query regarding a change in the Company's share price.
Both the published query and response are set out below:
21 August 2006
By Email only
Phosphagenics Limited (the "Company")
RE: PRICE QUERY
We have noted a change in the price of the Company's securities from a low of
$0.29 on 7 August 2006 to $0.365 at the time of writing. We have also noted an
increase in the volume of trading in the securities over this period.
In light of the price change and increase in volume, please respond to each of
the following questions.
1. Is the Companyaware of any information concerning it that has not been
announced which, if known, could be an explanation for recent trading in
the securities of the Company?
2. If the answer to question 1 is yes, can an announcement be made
immediately? If not, why not and when is it expected that an announcement
will be made?
Please note, if the answer to question 1 is yes and an announcement cannot be
made immediately, you need to contact us to discuss this and you need to
consider a trading halt (see below).
3. Is there any reason to think that there may be a change in the operating
loss before abnormal items and income tax so that the figure for the half year
ended 30 June 2006 would vary materially from the previous corresponding
period. If so, please provide details as to the extent of the likely variation.
4. Is there any reason to think that the Company may record any material
abnormal or extraordinary items for the half year ended 30 June 2006? If so,
please provide details.
5. Is there any other explanation that the Company may have for the price
change and increase in volume in the securities of the Company?
6. Please confirm that the Company is in compliance with the listing rules and,
in particular, listing rule 3.1.
Your response should be sent to me by return e-mail or by facsimile on
facsimile number (03) 9614 0303. It should not be sent to the Company
Unless the information is required immediately under listing rule 3.1, a
response is requested as soon as possible and, in any event, not later than
half an hour before the start of trading (ie before 9.30 a.m. ) on Tuesday, 22
Under listing rule 18.7A, a copy of this query and your response will be
released to the market, so your response should be in a suitable form and
separately address each of the questions asked. If you have any queries or
concerns, please contact me immediately.
Listing rule 3.1
Listing rule 3.1 requires an entity to give ASX immediately any information
concerning it that a reasonable person would expect to have a material effect
on the price or value of the entity's securities. The exceptions to this
requirement are set out in listing rule 3.1A.
In responding to this letter you should consult listing rule 3.1 and Guidance
Note 8 - Continuous Disclosure: listing rule 3.1.
If the information requested by this letter is information required to be given
to ASX under listing rule 3.1 your obligation is to disclose the information
Your responsibility under listing rule 3.1 is not confined to, or necessarily
satisfied by, answering the questions set out in this letter.
If you are unable to respond by the time requested, or if the answer to
question 1 is yes and an announcement cannot be made immediately, you should
consider a request for a trading halt in the Company's securities. As set out
in listing rule 17.1 and Guidance Note 16 - Trading Halts we may grant a
trading halt at your request. We may require the request to be in writing. We
are not required to act on your request. You must tell us each of the
* The reasons for the trading halt.
* How long you want the trading halt to last.
* The event you expect to happen that will end the trading halt.
* That you are not aware of any reason why the trading halt should not be
* Any other information necessary to inform the market about the trading
halt, or that we ask for.
The trading halt cannot extend past the commencement of normal trading on the
second day after the day on which it is granted. If a trading halt is requested
and granted and you are still unable to reply to this letter before the
commencement of trading, suspension from quotation would normally be imposed by
us from the commencement of trading if not previously requested by you. The
same applies if you have requested a trading halt because you are unable to
release information to the market, and are still unable to do so before the
commencement of trading.
If you have any queries regarding any of the above, please let me know.
Adviser, Issuers (Melbourne)
22 August 2006
Ms Julia Kagan
Adviser, Issuer (Melbourne)
Australian Stock Exchange Limited
Level 3, Stock Exchange Centre
530 Collins Street
Melbourne Vic 3000
Re: Phosphagenics Limited - Price Query
In response to your letter of 21 August the Company advises the following
2. Not applicable
3. As previously disclosed to ASX in the Company's 2005 Annual Report and
various announcements to ASX since that time, Phosphagenics has accelerated its
research programme, particularly its clinical (human) studies. In line with
this acceleration, Phosphagenics anticipates that the operating loss before
abnormal items and income tax for the half year ended 30 June 2006 will vary
materially (about $1.2 million greater) from the previous corresponding period.
5. Phosphagenics suggests that the following may provide some explanation for
the price changes and increase in volume in the securities of the Company:
A) Phosphagenics is aware that an offshore financial institution has acquired a
parcel of Phosphagenics' shares last week.
B) As previously reported to ASX on 24 July 2006 the Company commenced a
pivotal Phase I clinical trial its patented transdermal insulin delivery
platform. That announcement stated that the trial was expected to be completed
by the end of July with full analysis anticipated by September 2006. The
Company has no reason to expect that the receipt of the full analysis of the
trial and any consequence announcement to the ASX will not be within the
original time frame disclosed in the 24 July 2006 announcement. The Company is
also expecting a preliminary report from the principle investigator shortly and
will subsequently release details of this report.
6. We confirm the Company is in compliance with the Listing Rules, and in
particular Listing Rule 3.1.
Per Mourice Garbutt
For further information please contact:
|spaceparallax: GCI article featured PSG, with some positive background info. The closing para - "I think the current 11p share price - valuing the business at £60M - is too low. Analysts at contract research house Equity Development agree, suggesting the shares could be worth as much as 41-50p. For me, PSG is a good speculative bet."|
|lgw: I think we will just have to come to terms that this share price will drift between news, it is a good buying opportunity as at the moment PSG is being ignored by the market.
As mentioned in the Collins Stewart note above we may even become a takeover target in the not so distant future
Interesting we are up on no volume?|
|rambutan2: hi suesean,
i dont hold een, but do share an interest in syria via its partner, gpx.
yes, whole bio climate is looking good for psg's prospects and im happy to sit. another one of mine, ymba, which is also a bio, has suddenly sprung into life after a few years of little on the share price front. as you say, psg's day will come.|
Phosphagen. share price data is direct from the London Stock Exchange