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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Reliance Gen. | GMX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 0.55 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.55 | 0.55 |
| Top Posts |
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Posted at 08/3/2004 10:11 by amarone Hi Captain Spock,I agree that this stock is not for the faint hearted - but we are talking high risk high reward a element that should make up a part in everyones portfolio! I have made good returns in the last three weeks although I would say early on it was luck more than judgement. Now however, I intend to hold this stock until at April/may and see how things play out. The merger/takeover, the listing on the NYSE, the income revenue generated but not yet received etc, it WILL be a rollercoaster ride but one I firmly beleive will end with a high! My target price for GMX short term is 25p based upon positive news flow after that who knows. I keep remembering the dotcom days and the similarities with BioTech ie. great products / high cash burn = will they survive? I can't say for sure that they will so any potential investor would be better off buying little AND often that way you might not come off the rollercoaster and throw up! IMHO etc. AMARONE. |
Posted at 26/2/2004 09:33 by nil pd S'alright, here they are:RNS Number:8443V GeneMedix PLC 26 February 2004 GENEMEDIX PLC Preliminary Results for the year ended 30th November 2003 GeneMedix plc ("GeneMedix" or "the Company"), the UK multi-sourced biopharmaceutical company with operations in Europe and Asia and with joint London and Singapore Stock Exchange listings, announces its preliminary results for the year ended 30th November 2003. GeneMedix is involved in the development and manufacture of therapeutic proteins using recombinant DNA technology and novel cell culture. Highlights for the year: * Significant progress in the Erythropoietin (EPO) process development programme * Collaborative Agreement signed with Penang Development Corporation of Malaysia to set up a facility for the manufacture of human insulin. Additional cash inflows of $2 million expected shortly * Additional funds raised during the period * Free cash balances of #1.1 million at 30th November 2003 but #0.5 million short-term debt finance received post period. Reduced cash burn Post period * Letter of intent signed for contract manufacturing of biopharmaceutical product in the Irish facility * US advisorappointed * ADR programme announced Paul Edwards, Chief Executive Officer, commented: "The past 12 months have seen GeneMedix achieve significant success especially with our EPO, which has allowed us to continue to progress towards our goal of launching a first biogeneric product (Epostim) on the European market by the end of 2006. Whilst we have been concentrating primarily on the European market, an improvement in investor sentiment has made us shift focus more towards the opportunities available in the US. "Although we have an immediate funding requirement that will require additional cash in-flows to be received within three months, the Directors are confident that the Company will meet the anticipated shortfall. We are actively pursuing a number of opportunities that either offer cash in-flows from commercial or technology out-licensing collaborations, which will meet our needs in both the short and long term. This coupled with other initiatives to generate cash from under-utilised assets, we believe, will underpin our future. "Overall, we have made further progress towards our aim of becoming an international biogeneric company and, although cash remains tight, the Directors are confident of the Company's prospects." 26th February 2004 ENQUIRIES: GeneMedix plc Tel: 01638 663 320 Paul Edwards, Chief Executive Officer Bankside Consultants Tel: 020 7444 4140 Michael Padley/Susan Scott Chief Executive's Report The past 12 months have seen GeneMedix press forward with its development programmes, and maintain progress towards its goal of getting a first biogeneric product (Epostim) onto the European market by the end of 2006. Whilst we have been focussing primarily on the European market, events over the past few months have made us shift focus more towards the US opportunities. Driven by the well-publicisedrequi increased public awareness regarding the regulatory pathways for registering "biogenerics" in the USA and, as a result, a marked increase in interest in the biogenerics field from within theUS investment community and from the US generic medicines industry. Statements such as these from Senator Orrin Hatch (Chairman of the Senate Judiciary Committee and co-sponsor of the Hatch-Waxman Act, 1984) and Mark McClellan, FDA Commissioner, have heightened awareness of the need to define a regulatory pathway for these products. Senator Orrin Hatch said, "Enactment of Medicare prescription drug legislation clears the way for Congress to consider legislation creating mechanisms for rapid review of generic versions of off-patent biologics" and: "We must proceed carefully but we must proceed, with the creation of a fast track approval system for off-patent biologic products" Mark McClellan was quoted in BioWorld Today (April 2, 2003) as saying, "The agency's long term goal is to create a regulatory and scientific pathway for generic biologics" To capitalise on this increased interest, we have appointed Global Markets Capital Group (GMCG) of New York, as our financial and strategic advisors in the USA, and we are embarking on an American Depository Receipt programme, to make direct investment in the Company's shares available to the US market. We see the US interest as a major opportunity for our Company to unlock the value of its product portfolio and to find partners who will help create additional value for the company and fund its development programmes. By these and other means we shall seek to fund the on-going business and to utilise our existing infrastructure to accelerate revenues. In response to recent speculation about a possible acquisition of GeneMedix plc, we were required by the Singapore Stock Exchange and UK regulators to issue a number of statements relating to a significant transaction with a potential collaborator, with whom we are in early stage negotiations. This potential partner has an infrastructure in biogenerics which is complementary to GeneMedix' manufacturing and product portfolio and it would also provide financing opportunities to help us achieve our business plan. This opportunity is exciting in that it, potentially, gives us access to new products, new markets, additional manufacturing capability and a marketing network, all of which would help us generate revenues at an earlier stage. This potential opportunity is one of a number of initiatives currently being undertaken that are intended to secure the Company's future and to raise additional financing for the on-going business. Products and development programmes We have continued to make significant steps forward in our product development programme for EPO, which is being run out of our facility in Tullamore, Ireland. Our development programme is now nearing completion and we believewe can produce a product, which, under stringent analytical testing, can be shown to be similar in all essential respects to the innovator product. This substantial progress has been made against a background environment that has highlighted the complexity of the technological issues surrounding the establishment of comparable pharmaceuticals in Western Europe. However, we remain confident that our clinical programmes are well designed and that they will enable us to demonstrate comparability with the marketed product. We have always relied on a strong scientific basis for the design of our clinical strategy, and the scientific advice that we have received from the CPMP, the scientific advisory body to the European Regulatory Agency, on the regulatory pathway for the approval of EPO, Epostim, has strengthened that belief. We have a projected product launch date for late 2006 in Europe, once EPO has come off patent and the European Regulators have set the regulatory pathway. We arealso moving towards completion of the validation of our facility in Ireland and have built up a strong development team, with expertise in mammalian cell culture, at the facility. The programme for the development of our insulin technology has been continuing, and this will eventually be transferred into the facility to be built in Penang, Malaysia. This important project, which the Directors believe will add significant value to the Company, requires a total investment of $34 million, and we expect to be funded entirely by South-East Asian investors and the National and Regional Governments of Malaysia. We anticipate that the initial stage of funding will be completed in the near future. Following completion there is expected to be a cash in-flow of $2million for this project. Other programmes have taken a lower priority of late, however we have an exciting product portfolio, which offers some excellent opportunities, including IFN-beta and G-CSF. It clearly remains the primary focus of the Directors to secure sufficient funding to be able to develop all our programmes at the desired rate and it is evident that we shall not be able to do this by relying solely on funds being generated through the existing commercial operations. We are actively pursuing a number of opportunities, which will potentially bring in cash in-flows from commercial or technology out-licensing collaborations. This is coupled with other international initiatives to generate cash from under-utilised assets. As part of one such initiative, we are pleased to announce that we have signed a letter of intent to contract-manufacture an additional biopharmaceutical, which, if finalised, should bring us revenues from outside Western Europe in 2005. In the meantime, we have continued to exercise prudent cost control measures and are focusing predominantly on our main development programmes. The investment in our Chinese facility has been completed, and revalidation will commence shortly. However, as is discussed in the financial review, the Board is reviewing its options in respect of this facility. Overall, the Company has made further progress towards its aim of becoming an international biogeneric company and, although cash remains tight, the Directors have expressed confidence in bringing in near-term funding for the Company. Financial review Operating expenditure for the year was below plan as we preserved cash in the latter part of the financial year and focussed predominantly on core activities. Operating losses of #6.9 million included a #750,000 impairment charge on the investment in SGB in China. Revenues in China have been poor during the year, as the facility has been closed since April whilst a #370,000 upgrade was carried out. The Board has for some time been reviewing its options for the facility in China. Commercial opportunities for GM-CSF have now opened up in export markets following the successful completion of our clinical study in Malaysia and the receipt of other export licenses. We are similarly in a better position to address the domestic markets with approval to market additional presentations of GM-CSF having been obtained. Despite this however, it is the Directors' intention to seek a purchaser for this facility. Not only will this raise cash for the business, but also it will allow senior management to focus on the Company's opportunities in the more lucrative European and US markets. A formal sales document has been prepared and interested purchasers sought. Discussions are currently on going with a potential purchaser, but at this time we are unable to disclose the terms being discussed. Free cash balances of #1,055,153 as at 30 November 2003 are clearly below desired levels, and reflect the delays in a number of expected cash inflows, which were referred to in our last quarterly announcement. We have, however, a number of initiatives in progress, that the Directors have expressed confidence will bring in near-term funding to the company. The cash inflow from the completion of the first round of funding for our Malaysian facility, which was mentioned in our previous quarterly statement, should occur within two months as ground breaking ceremonies are already being discussed. There are also a number of potential short-term cash in-flows from the Inland Revenue and collaborators, which should provide some interim funding. The recent interest in biogenerics has, however, opened up some significant funding opportunities, and one of the options we are actively considering is to seek support from our existing and potential new investors for a small fund-raising round. We shall, of course, pursue diligently the sale of the operation in China, and other sales of under-utilised assets, and will continue to seek out-licensing opportunities but these are unlikely to realise cash in the near term. We have received in recent weeks short term loan finance of #0.5 million from our leading shareholder whilst we progress all the above activities, but it is clear, that, if no such further loan finance were available and none of the above financing options were to bring in funding within three months, the Company would be unable to meet its financial obligations as they fall due. These funding initiatives are aimed at providing on-going funding for the operation, but we clearly need significant additional funding to realise all the potential in the Company for both first and second generation therapeutic proteins. For this we need partners who will be able to help raise the required funding to bring our products to market. It is for this reason that we appointed GMCG to seek out strategic opportunities in the US. Discussions have taken place with a number of parties and early stage negotiations with one, as mentioned in our press release of 16th February 2004. In light of these discussions and especially as a result of recent events in the US, the Directors have expressed confidencein successfully achieving on-going funding for the Company. |
Posted at 23/2/2004 21:43 by amarone Talks with MNC set ablaze demand for GeneMedix By SERENA NG 19.02.04 (SINGAPORE) The Singapore market's only pure biotechnology stock, GeneMedix plc, yesterday gave an inkling of the huge potential new developments that the pharmaceutical industry could bring when its shares shot up two-thirds in a single day on hopes of a merger with a US giant. GeneMedix's shares, which had already gained nearly 30 per cent on Tuesday to 56 cents, yesterday jumped to a two-year high of $1.12 in intraday trade before ending at 92 cents, up 36 cents or a hefty 64 per cent. Some 31.3 million of GeneMedix shares were traded yesterday. The two-day share surge boosted GeneMedix's market capitalisation to some $275 million, from just $130 million on Monday. Investor euphoria over the counter was attributable to a Monday announcement by the London and Singapore-listed drugmaker, which had revealed that a 'significant transaction' was being negotiated with an international pharmaceutical products company. Loss-making GeneMedix, which was responding to recent market speculation, also said the talks 'may or may not lead to a merger between the two companies', adding it had recently indicated it was looking to access the US markets. Last week, the UK-based biotech firm also announced that it is working with the Bank of New York to establish an American Depository Receipt Programme on Nasdaq. GeneMedix cited its interest in accessing the US capital markets, which it said have tremendous interest in the emerging field of biogenerics, or generic therapeutic products that are produced through modern biotechnology processes. While GeneMedix, which makes protein-based drugs, did not name the company it is in talks with, market players concluded that the potential partner was probably an American firm with a sizeable presence. Bloomberg News also quoted the group's chief financial officer Julian Attfield saying that the talks, though preliminary, are focused on forming a collaborative partnership rather than a takeover by a potential buyer. GeneMedix's London-listed shares, meanwhile, have also more than doubled since the start of this week. The company was listed in Singapore on Dec 1, 2000, one day after listing on London, and its initial public offering (IPO) shares had been priced at 90 pence or $2.22. The stock subsequently hit a high of $3.06 here in February 2001, while its record low of 31.5 cents was seen earlier this month on Feb 2. Amid yesterday's stunning share price surge, some market players in Singapore reacted with scepticism. Said one active trader: 'It's a ridiculous price, and my gut feeling is that it's all hyped up. I did not like the fact that the stock ran up for a few days and then the company made its announcement.' He added that the sharp run-up might lead the other party to pull out, especially if a share swap was being planned. But for other market watchers, the volatility of GeneMedix's shares was seen as a reflection of the high risk-to-reward factor of biotechnology stocks, as such companies tend to be mired in losses for years before getting a big break. GeneMedix reported a net loss of 4.8 million (S$15 million) for the nine months to August 2003, versus a net loss of 6.6 million a year ago. |
Posted at 19/2/2004 21:56 by andyprice5569 Amarone,You asked the other day about cost of listing on the Nasdaq: 'GeneMedix appoints Bank of New York for Nasdaq listing 19 February 2004 GeneMedix, the UK biopharmaceutical company with operations in Europe and Asia and with joint London and Singapore Stock Exchange listings, took its first steps in its plans to list on Nasdaq with the appointment of the Bank of New York as its depositary bank for a Level One American Depositary Receipt (ADR) program. The New York based investment bank, Global Markets Capital Group, will manage the listing process. This is a sponsored program which minimises any financial outlay to the company and it will allow US investors to directly purchase the company's shares. Once the Level One program is declared effective by the US Securities and Exchange Commission (SEC), GeneMedix will prepare a Form 20-F for lodgement with the SEC as part of its next step of achieving the more significant Level Two ADR program. A Level Two ADR program is a US listing (with US GAAP and full SEC compliance). The listing will allow for GeneMedix ADRs to trade on the fully automated, screen based Small Cap Nasdaq market. Paul Edwards, ceo, GeneMedix, stated: 'The program will allow GeneMedix to access the very important US capital markets, where there is tremendous investor interest in the emerging field of biogenerics.'' HTH - Andy |
Posted at 19/2/2004 10:12 by baker man This appears to be the reason for the lead in AsiaTalks with MNC set ablaze demand for GeneMedix February 19th By SERENA NG (SINGAPORE) The Singapore market's only pure biotechnology stock, GeneMedix plc, yesterday gave an inkling of the huge potential new developments that the pharmaceutical industry could bring when its shares shot up two-thirds in a single day on hopes of a merger with a US giant. GeneMedix's shares, which had already gained nearly 30 per cent on Tuesday to 56 cents, yesterday jumped to a two-year high of $1.12 in intraday trade before ending at 92 cents, up 36 cents or a hefty 64 per cent. Some 31.3 million of GeneMedix shares were traded yesterday. The two-day share surge boosted GeneMedix's market capitalisation to some $275 million, from just $130 million on Monday. Investor euphoria over the counter was attributable to a Monday announcement by the London and Singapore-listed drugmaker, which had revealed that a 'significant transaction' was being negotiated with an international pharmaceutical products company. Loss-making GeneMedix, which was responding to recent market speculation, also said the talks 'may or may not lead to a merger between the two companies', adding it had recently indicated it was looking to access the US markets. Last week, the UK-based biotech firm also announced that it is working with the Bank of New York to establish an American Depository Receipt Programme on Nasdaq. GeneMedix cited its interest in accessing the US capital markets, which it said have tremendous interest in the emerging field of biogenerics, or generic therapeutic products that are produced through modern biotechnology processes. While GeneMedix, which makes protein-based drugs, did not name the company it is in talks with, market players concluded that the potential partner was probably an American firm with a sizeable presence. Bloomberg News also quoted the group's chief financial officer Julian Attfield saying that the talks, though preliminary, are focused on forming a collaborative partnership rather than a takeover by a potential buyer. GeneMedix's London-listed shares, meanwhile, have also more than doubled since the start of this week. The company was listed in Singapore on Dec 1, 2000, one day after listing on London, and its initial public offering (IPO) shares had been priced at 90 pence or $2.22. The stock subsequently hit a high of $3.06 here in February 2001, while its record low of 31.5 cents was seen earlier this month on Feb 2. Amid yesterday's stunning share price surge, some market players in Singapore reacted with scepticism. Said one active trader: 'It's a ridiculous price, and my gut feeling is that it's all hyped up. I did not like the fact that the stock ran up for a few days and then the company made its announcement.' He added that the sharp run-up might lead the other party to pull out, especially if a share swap was being planned. But for other market watchers, the volatility of GeneMedix's shares was seen as a reflection of the high risk-to-reward factor of biotechnology stocks, as such companies tend to be mired in losses for years before getting a big break. GeneMedix reported a net loss of 4.8 million (S$15 million) for the nine months to August 2003, versus a net loss of 6.6 million a year ago. In 2002, a local biotechnology start-up, Rockeby Biomed, was turned away by the Singapore Exchange because of concerns that the company could not turn profitable within 12 months. Rockeby, which is managed by mainly Singaporeans, successfully listed in Australia at the end of 2003 after raising A$4 million (S$5.3 million) in an IPO at 20 Australian cents each. Its shares yesterday ended at 18.5 Australian cents |
Posted at 18/2/2004 15:59 by amarone lEEWINK - it was I that invited MDWers (GUMBERR) as we are both on the MDW thread. It wasn't a ramp, merely an invitation to browse the GMX thread as we are a friendly bunch who like to exchange good quality information with fellow investors. I believe GUMBERR was merely returning the invitation and there's nothing wrong with expanding your radar in my mind. After all that's how I got GMX on my sharewatch in the first place. |
Posted at 18/2/2004 12:20 by shenkis OK Guys decided to start posting ... I bought this this morning at 17.5 and am very happy with the rise , but I disagree with the 25p + talk by the end of the day. Out of the 5 Market Makers , only 1 seem to have a large order to fill it has been consitantly 2p ahead of the other 4 ,therfore IMHO once WINS has filled their large order , we are going to see a larger spread , with the bid price dropping back by 1-2p however I do see a lot of small investors piling in at 21.5 so maybe a 1-2p increas in the offer will also insue... However , I am holding as who knows what tomorrow will bring ....:) Therfore my prediction Mid 22.5 by end of day Bid 21.0 Offer 24.0 |
Posted at 18/2/2004 07:52 by baker man Its worth noting that the volume in singapore is only 28k of shares, even so thats a huge difference. It may have a positive effect here as investors in Asia are aware of the UK listing as when funds were raised in November they bought a small stake in the UK listed shares. |
Posted at 18/2/2004 00:32 by andyprice5569 This may be old news to holder of more than 3 days (like me), but I thought it was interesting. The first article is take from the Straits Times on Tuesday evening and we know about that one, the second from just now (I guess its later tomorrow there):The first: 'GeneMedix talks may lead to merger. 207 words 17 February 2004 Straits Times English (c) 2004 Singapore Press Holdings Limited BIOTECH firm GeneMedix yesterday announced that it is in talks with an international pharmaceutical products firm which 'may or may not' lead to a merger between the two companies. GeneMedix, which is listed in London and Singapore, said: 'Following recent market speculation, we can confirm that a significant transaction is being negotiated with an international pharmaceutical products company, which may or may not lead to a merger between the two companies.' It did not, however, name the company. The Britain-based drugmaker further reiterated its aim to build a global company focused on research, development and the manufacture of generic therapeutic proteins, and improved formulations of those proteins, and its intention of looking to access the United States market. 'We can confirm that the current negotiations are consistent with this strategy,' it added. It recently announced plans to list on Nasdaq. Last June, GeneMedix signed a letter of intent with Malaysia-based Penang Development Corp to set up a company to develop, manufacture and commercialise human insulin, which is used to treat diabetes. According to GeneMedix, demand for human insulin is expected to increase rapidly, particularly in Asia. Shares of GeneMedix rose one cent to close at 43.5 cents yesterday. Document STIMES0020040216e02h The second: Investors load up on blue chips, tech stocks. By Azhar Khalid. 452 words 18 February 2004 Straits Times English (c) 2004 Singapore Press Holdings Limited TAKING STOCK Another counter in the limelight was GeneMedix, which rose 12.5 cents to 56 cents. The surge came after the company said that it was in talks with an international pharmaceutical firm that could lead to a merger. E-mail azhark@sph.com.sg. Document STIMES0020040217e02i First question, can we expect a 25% rise tomorrow after this rise 'today' in Singapore ? (or was the the rise we got on Monday?). Second question, in the first article, is this the company that we could be perhaps merging/having talks with? TIA - Andy |
Posted at 16/2/2004 12:59 by baker man techair - lolLooking at a possible figure to put on gmx share price, i would expect nothing less than 16.5p as this was the level at which they raised funds in November - The private investors who put the money up (& are part of their ongoing Penang operations)would not be happy at anything less. |
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