Sinclair Pharma Share Discussion Threads

[dealit] 14/6/2016 20:11

Well, markets do not like uncertain times and the Government have certainly created just that. Major share price drops people if we vote out IMHO.

[cumnor] 14/6/2016 12:34

Nice time in these markets to have cash. Some ludicrous markdowns. Added here.

[eggbaconandbubble] 01/6/2016 11:14

A pinch and a punch.........

[eggbaconandbubble] 31/5/2016 11:05

Clearly the directors are convinced!

[soundbuy] 25/5/2016 08:18

Sinclair IS Pharma PLC SPH Peel Hunt Buy 35.63 35.25 TP 66.00p Reiterates

[soundbuy] 23/5/2016 07:35

NED 250,000 purchase....

[eggbaconandbubble] 20/5/2016 16:35

Good posts SoundBuy.
I topped up this am. Plus I noticed the CEO's missus bought a few as well.

[steeplejack] 20/5/2016 15:51

Interesting to note the award of options to management.Nil cost,exercisable in 5 and 6 years time.Doesn't say whether the options would lapse if the awardees left the company but I guess this will tie-in the CEO during an exciting period.There was a time,I suspect,that the stock would have gone markedly higher on today's news(more than 8%)spurred by aggressive prop book buying.Yet,alas,prop books have been sorely compromised by regulation.We'll just have to wait for some old fashioned regular investor buying.

[soundbuy] 20/5/2016 11:55

H/T FT AV


Jefferies BUY


US Silhouette strategy executed: Sinclair has granted Almirall's (ALM SM, Hold, €13.4)
Thermi subsidiary the rights to market Silhouette InstaLift in the US. Thermi already markets
a portfolio of minimally invasive aesthetics products using temperature controlled radio
frequency to treat nerve and soft tissue conditions, such as excessive skin laxity, glabellar
frown lines, and cellulite, employing the “Science of Heat”. We see strong synergies between
Silhouette and Thermi with the current 55 rep salesforce to be expanded. Thermi has
demonstrated commercial acumen, in our view, growing sales since launch in 2013 from
c.$11m 2014 to c.$30m 2015 with over 1,000 systems now placed. Hence we believe as a
partner Thermi is well-placed to maximise Silhouette's commercial potential for Sinclair, also
removing the uncertainty as to the optimal S&M strategy. The distribution deal is initially
for four years until mid-2020 with Sinclair having the right to regain the brand. Financial
terms of the collaboration are undisclosed but we understand Sinclair is funding Thermi's
incremental launch spend. Doug Abel, Sinclair US President, will head the Silhouette
marketing committee ensuring the company retains some control of the roll-out.
Silhouette has significant potential: FDA approved Silhouette Instalift at end-April
2015 for the minimally invasive repositioning and tightening of facial skin using resorbable
sutures and bidirectional cones. We believe a US clinical study is ongoing with the aim
of simplifying the FDA approved labelling for the insertion technique, bringing it in-line
with other geographies, with results anticipated in 4Q16E. Based on the European roll-out,
management believes c.4,000 US physicians could use Silhouette Instalift an average 4x
monthly at peak, suggesting peak US sales of at least $200m. At this time we include only
a heavily risk-adjusted contribution from the US in our forecasts of sub-£25m revenues.
Entering Brazil to broaden footprint: Regaining distribution rights for Silhouette Soft
in Brazil enables Sinclair to establish an affiliate in this important aesthetic dermatology
market. This transaction is expected to be sales and EPS accretive, also enabling the direct
sales of Perfectha, and potentially Ellanse in future once approved.



Trading update broadly as expected: Management reports current trading is "strong"
with £8.9m sales 1Q16 (+37% in-market) vs. £7.7m for the entirety of 2H15. The c.+40%
target for in-market performance of the portfolio is reiterated. Note re-basing inventories
will likely curtail reported revenues.
Strategic review ended: The prolonged strategic review has finally completed with the
Offer Period ended. The Board believes the Thermi collaboration and Brazil deal, together
with £45m net cash at end-March 2016, position the company for long-term growth as an
independent entity.
Attractive growth profile: We see a strong strategic rationale in focusing on a portfolio
of dermal fillers, in addition to Silhouette for minimally invasive face-lifts. These brands form
a unique aesthetic dermatology franchise, in our view, which with targeted S&M efforts
should drive substantial operating leverage with the promise of long product lifecycles. Our
60p/share Price Target suggests an EV around £215m implying 4.2x and 3.4x revenues, or
19x and 13x EBITDA, in FY17E and FY18E, respectively, which we view to be still relatively
conservative.

[soundbuy] 20/5/2016 11:53

H/T FT AV

Stifel BUY



Sinclair Pharma has announced it has signed a licensing agreement with Almirall’s aesthetics business
Thermigen to launch, distribute and promote Silhouette InstaLift in the US for an initial four-year period. Sinclair has also provided a 3Q FY16 trading update with revenues of £8.9m in the period. The decision to license Silhouette to Almirall marks the end of the company’s strategic review and hence the offer period. The deal also means Sinclair will no longer have to fully fund the product’s US launch. With £45m net cash at 31 March 2016, the business is well funded to profitability. We value Sinclair on a sum-of-the-parts basis at 49p/share, offering significant upside to the current share price. Much of this value rests with Silhouette Instalift in the US. Partnering with an established aesthetics company like Thermigen gives us increased confidence that the products potential can be successfully realised. Buy.


Sinclair signs distribution and marketing agreement with Thermigen. As
part of the deal, Thermigen will promote Sinclair’s aesthetic product Silhouette
InstaLift with its 55 rep sales force with a further 10 reps added to specifically
promote Silhouette. The distribution agreement, which is initially for a four-year
term, provides for Sinclair to repatriate rights from the end of 2018. Thermigen
is a fast growing aesthetics business that was acquired by Almirall in February
2016. It has an installed base of over 1,000 systems in the US that provide a
range of thermal aesthetic treatments.
Silhouette US launch ongoing. Sinclair initiated US prelaunch activities for
Silhouette InstaLift in 4Q15 and has now trained 75 physicians in using the
product. Thermigen will formally launch the product later this month.
Trading update. Along with this announcement, Sinclair has provided a
trading update for 1Q16. Sales in the period were £8.9m, significantly ahead of
the £7.7m achieved in 2H15 and given likely seasonal demand for aesthetics
in 2Q16, on track for our FY16 forecasts. Sinclair has announced it will change
its year-end to 31 December to align the business with industry peers.
Brazilian affiliate established for Silhouette Soft effective 1 July 2016. The
deal is expected to be immediately accretive.
Reiterate Buy. We believe the licensing of distribution and marketing rights to
Thermigen not only reduces the investment needed to establish Silhouette
InstaLift in the US but also increases the chances of a successful launch given
Thermigen’s proven experience. Given Sinclair retains the long-term value in
Silhouette InstaLift in the US, we retain our 49p sum-of-the-parts valuation.

[soundbuy] 20/5/2016 10:36

Director dealings positive out of offer period....quick off the mark too.

[soundbuy] 20/5/2016 09:12

Agreed steeplejack


different co. to 18 months ago, with the re-organisation and re-focus, the balance sheet and prospects have been transformed.......

[steeplejack] 20/5/2016 08:34

In typically AIM market fashion,the shares weakened and touched a year's low in the last few days,as the news leaked out.The assumption is that the market got wind that the "offer" period was being abandoned and reacting accordingly.Yet,the full body of the text of the Thermi deal,update on revenue growth and net cash position is unequivocally bullish.This stock is very tightly held and presuming that skittish private clients hang in-and why shouldn't they-I reckon the stock should firm towards 40p.In any event,if trading improves over the next couple of years,Sinclair is more not less likely to attract a bid.

[cumnor] 20/5/2016 08:29

True Soundboy, that is even more important and even without new US input.On its own that should drive the share price significantly as margins here can be quite good.

[cumnor] 20/5/2016 08:29

True Soundboy, that is even more important and even without new US input.On its own that should drive the share price significantly.

[soundbuy] 20/5/2016 08:19

Impressive trading update, overshadowed by 'other' news....

[cumnor] 20/5/2016 08:16

Major news.

[soundbuy] 20/5/2016 08:14

Expect 'AT' trades to drive it up and the 'O' trades to do the opposite as Pi's bail ......... few days to settle IMO

[soundbuy] 20/5/2016 08:10

Share will be able to breathe now - been treading water since Nov 2014

Fair whack of hot money chased this so a rocky few days........


This am.

Jefferies International Buy TP 60.00p

Panmure 'under review'

[soundbuy] 11/5/2016 09:59

24 hrs - just about as long as a fair bit of slap then..........

[eggbaconandbubble] 11/5/2016 07:39

Lymington! So yacht owners will now be able to drive down to the New Forest, drop their wives off, a quick race around the cans and pick a new woman up on the way back to Town!

[maxwellsdemon] 10/5/2016 20:11

meg matthews featured in the sunday times style section in the most recent publication. there were before and after photos of her silhouette soft treatment.

here is a separate article/link with the same photos:



also

[eggbaconandbubble] 10/5/2016 19:44

I had a moment of doubt about Silhouette's future market when I read in the papers last couple of days about this 'second skin' wrinkle remover. But the effect only lasts 24 hours!