||EPS - Basic
||Market Cap (m)
|Pharmaceuticals & Biotechnology
|aishah: Phytopharm plc (PYM: London Stock Exchange) ("Phytopharm", or the "Company") today announces that terms have been agreed for the conditional acquisition (the "Acquisition") of IXICO Limited ("IXICO"), a medical technology and diagnostics company. The aggregate consideration for the Acquisition is to be satisfied by the initial issue of 8,014,403 New Ordinary Shares on Admission and the proposed issue of 465,350 New Ordinary Shares as a result of the outstanding share options under the IXICO unapproved share option share scheme. Based on the Phytopharm closing share price of 20 May 2013 immediately prior to its suspension, the aggregate consideration is valued at approximately GBP5.6 million.
|skinny: Proposed acquisition of IXICO Limited
Proposed Issue of up to 8,479,753 New Ordinary Shares in the Company
Proposed change of name to IXICO plc
Admission of the Enlarged Issued Share Capital to trading on AIM
Renewal of Shareholder Authorities
Notice of General Meeting
Phytopharm plc (PYM: London Stock Exchange) ("Phytopharm", or the "Company") today announces that terms have been agreed for the conditional acquisition (the "Acquisition") of IXICO Limited ("IXICO"), a medical technology and diagnostics company. The aggregate consideration for the Acquisition is to be satisfied by the initial issue of 8,014,403 New Ordinary Shares on Admission and the proposed issue of 465,350 New Ordinary Shares as a result of the outstanding share options under the IXICO unapproved share option share scheme. Based on the Phytopharm closing share price of 20 May 2013 immediately prior to its suspension, the aggregate consideration is valued at approximately £5.6 million.
Following completion, it is expected that Phytopharm shareholders will own approximately 45 per cent and that IXICO shareholders will own approximately 55 per cent of the Fully Diluted Enlarged Issued Share Capital. In view of the size of IXICO in relation to the Company, the Acquisition is classified as a reverse takeover under the AIM Rules and is therefore conditional, inter alia, on the approval of Shareholders in a general meeting. A copy of the admission document along with the notice of General Meeting is being sent out to shareholders shortly and will be available on the Company's website www.phytopharm.com.
The Directors of Phytopharm consider that IXICO will provide a platform from which to create value for Shareholders and will provide a different risk profile to the Company's business model. Upon completion of the Acquisition, Phytopharm plc will change its name to IXICO plc with the new ticker "IXI".|
|crosswire: Back in 2009:
Phytopharm's share price went stratospheric, climbing a massive 324 per cent after the Cambridge company announced that Cogane, its target for Parkinson's disease, had shown hugely promising data in two early studies.
Phytopharm said the positive results justify Phytopharm's stated strategy to move forward rapidly to a Phase II, proof-of-concept study for Cogane in patients with PD, which is planned to commence in Q2, 2010.
After 3 years: The results are due:
The last patient completed participation in the CONFIDENT-PD Phase II clinical trial of Cogane in untreated patients with early-stage Parkinson's disease in December 2012. Results from this trial remain on track to be available in February 2013.|
|nick2412: Surprisingly over-looked by the new year tipsters given the imminent Feb phase 2 trial results. The sector and small cap pharmas seem to have come back in favour in the past few months. Obviously the trial results are pivotal and success would be transformational for the share price. I wonder to what extent they have potential licensing partners lined up in the event of positive results?
The downside with trial failure puts it into the high risk category but the recent developments with ALS and potential funding for trials plus at least a years funding for PYM does give some support. The positive data associated with ALS also hopefully bodes well for the PD trial.
I'd expect to see some interest as Feb approaches and prior to that the solid dosage format for Cogane should have been completed and announced.|
|mrsapeslaptop: so a year end massage of the share price or is Linda Greensmiths news due.|
|algernon2: Just like with Oxb; any moderately good news and the share price heads South slightly.|
|madmonkflin: steady, wouldn't want the share price to go up too much in one go ;)|
|baldeagle5: Interesting link missusA.
What do you expect to occur if Phase 2 is positive share price wise?|
|mrsapeslaptop: that is brilliant news.
orphan drug status for ALS.
If we get positive in vivo news on ALS in Q4. should treble share price at least on the potential for a licence|
|jackiewilson: And the last time it was trading at cash - when it was at 5p in the autumn of last year - the Cogane vs Parkinson's in monkey test results propelled the share price x4.
Managed to get out on the spike. Reason: I once bought PYM at £6.50 so know from bitter experience what a long road they are on and how volatile the share price can be on news. There is still significant potential for gains on news so I bought back around 9p post fundraising [too early].
Trouble is that PYM is a serial disappointer, so investors have lost sight of what might lie beneath. Cogane for PD is gonna be several years to progress through trials. If successful then it's 'transformational'.
Meanwhile there's Hoodia etc to sort out - much was invested in early tests and developing growing techniques etc, so difficult to believe that someone can't make functional foods out of it, even though it wasn't right for SlimFast milk-based drinks. And the Cogane mols can be used vs. other neurodegenerative diseases like Alzheimers and Motor Neurone.
So upside potential could suddenly arrive from left field ...|
Phytopharm share price data is direct from the London Stock Exchange