Share Name Share Symbol Market Type Share ISIN Share Description
Sphere Medical LSE:SPHR London Ordinary Share GB00B551W951 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.125p -2.00% 6.125p 6.00p 6.25p 6.25p 6.125p 6.25p 59,500 14:15:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 0.0 -5.1 -3.2 - 8.68

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Date Time Title Posts
28/4/201714:20Sphere Medical post CE Marks....Sales ready for take off....117.00
30/3/201708:40SPHERE MEDICAL1,074.00

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Sphere Medical (SPHR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-04-28 13:15:125.6030,0001,680.00O
2017-04-28 12:59:156.209,500589.00O
2017-04-28 10:36:176.0110,000601.00O
2017-04-28 10:35:466.0110,000601.00O
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Sphere Medical Daily Update: Sphere Medical is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker SPHR. The last closing price for Sphere Medical was 6.25p.
Sphere Medical has a 4 week average price of 6p and a 12 week average price of 5p.
The 1 year high share price is 14.50p while the 1 year low share price is currently 5p.
There are currently 141,757,872 shares in issue and the average daily traded volume is 37,038 shares. The market capitalisation of Sphere Medical is £8,682,669.66.
pugugly: No senior management purchases declared and share price moving back down - Still sitting on the side and waiting - Possible memories of LID ?
longshanks: I am so tempted to buy.Just looking at the strength of support given both by IIs and SVB make me feel there must be some value here.There largest competitor is market inertia and it is worth examining that.Whilst it is logical to expect medical practitioners to welcome a device that will improve both quality and efficiency of care, there is still a capital cost of implementation, an operating cost for consumables, a need to add a new consumable into the stocking and planning processes and a requirement to train staff. To my mind, inertia to such change is very difficult to challenge. In addition, there is so little competition in European health care that even public demand for a change to such technology will meet deaf ears.This product could well gain traction but I think we are two to three years from break-even.They do need to raise money in the near future; I don't think £7m is enough, I think they need nearer £12m.Given the current share price, a placing to finance commercialisation would be horribly dilutive. Hence the use of SVB whilst they "evaluate financing options".A likely scenario is that they have a capital profit-sharing deal with an outfit like Lanstead. In essence there is a placing, but instead of upfront cash, the company get a monthly payment linked to the current share price. If the share price rises, the payments go up pro-rata (and vice-versa of course).IMM did a similar deal last year and whilst many expected a "death spiral" in the share price, the opposite happened.In that regard, buying now may prove quite an astute move.Dilemmas, dilemmas.
timbo003: I haven't seen either video yet Del and I probably won't do so until the weekend (the WiFi at this hotel sucks). I'm surprised at the share price reaction to the results, the outlook now seems somewhat better than I was expecting.
timbo003: See below a few notes from yesterday’s Proactive Investors Biotech Capital meeting (please feel free to copy elsewhere). Richard Wright (CFO) gave the presentation which lasted around 20 minutes and there was around 10 more minutes allocated for Q&As, the notes on Q&As are not a verbatim record, just a summary of what was said to the best of my recollection. A video of the presentations and the Q&A session should be available in a couple of days. Questions and Answers (during presentation) Q: So far you have made individual announcements for each Proxima sale, will this continue? If it does, investors will assume no announcements no sales which isn’t helpful. A: We have made announcement for the first sales in each new country and will probably continue to do so, this is not the same as announcing every sale. We will update the market on sales progress when we release results on February 28th. Q: Who are your main competitors? A: Our main competition is inertia within the Health services. Q: Will P3 customers convert to P4? A: We will automatically convert everyone on P3 to P4 Q: What does it cost to buy a P4 unit? A: The customer can either buy the monitor (a few £ thousand) or lease. Training does not take long (30 – 40 minutes) Q: What are you doing to combat inertia? A: We are indentifying the people within the health care services who are most up for change. Q: What about treating Neonates? A: This project is in hand, we will refine the collection system (thinner tubes) to facilitate this. Question and Answers (post presentation) Q: The recent news of the £3M loan on very reasonable commercial terms (circa 7% p.a.) , was excellent news and to my mind re-risks the shares to a significant extent as it gives us far more flexibility regarding future fund raising. You should have press ganged Trinity Delta into releasing a note on that. A: Yes, it was good news, Trinity Delta did not put out a note, but Panmure Gordon did make a comment. Q: Some research notes imply that you might need to raise a further £10M to reach breakeven, does this seem reasonable? A: We will need to raise more cash. £10-15m would seem like a reasonable estimate for an analyst to make. Q: You will be out of a closed period in a couple of weeks, the directors don’t have much skin in the game, investors will be expecting them to remedy this following the results, can you comment? A: Cannot comment, other than to say you might want to look at the director share purchases during my tenure at Alliance Pharma (APH), especially in the dark days when the share price was in single figures. Q: Regarding the USA, would you now envisage going for FDA approval first or obtaining a partner first? A: Getting regulatory approval before getting a partner seems the more likely option. Q: What regulatory route do you think we will have to take in the USA and how are you identifying the best route to take? A: We have US consultants who have been advising on the optimal regulatory route. We think we can get it through via the 510K route which could take months rather than years for approval, but we will probably need to do a few tweaks to the EU CE approval file first. The alternative would be to go down the PMA route (pre-market approval) for a class III medical device, which would probably take several years.
cc2014: Today should be interesting. It seems reasonable to suggest that the buying that kicked off yesterday afternoon will continue this morning.Have we seen the classic turn off high volume resulting in a sustained rise in the share price?
cc2014: My thoughts for the day I took a few quotes today and all the trades at 6.1 and above after 8:33 are definitely buys. It seems pretty reasonable to suggest the 6.0 is a sell which was delayed from yesterday although it isn't marked as such. So that's about 1.1m buys vs 300k sells reported. I suspect many of those reported sells yesterday are also buys. Also L2 looks like this WNTS 6.0 Peel 6.25 SHOC 6.0 WNTS 8.0 PMUR 5.75 SHOC 8.0 PEEL 5.25 PMUR 8.75 Peel are completely out of line with everyone else so one assumes the all the buy trades are going to Peel who seemed to have an everlasting supply until they refused more buys later in the day. I only found out I couldn't buy any more around 16:15 but looking at the trades one wonders if this happened earlier in the afternoon, say around 14:45 when the last buy trade went through... The fact that I can sell 150k at 6.12 I find bizarre. Around lunchtime I could sell 150k for 6.21 and all we've had since then are buys. I have a few ideas: a) Peel took a large sell order and have now shifted it all. Indeed they were a bit sleepy and sold too many. b) Peel took a large sell order on and have completely it, sold a few more and thought they could get some more but have now found their source has finished c) During the afternoon a large buyer appeared and from wanting to sell lots of stock in the morning now they want to collect them for their client and so will accept 150k sells but no buys. They want them sub 6.25 which is were the offer sat for a large part of the day d) A junior jobber at Peel misunderstood the trade and now Peel are in a pickle Note that PMUR as sole broker aren't driving this And finally what I know for sure is that if we get another 900k buys tomorrow the price won't stay down here as the whole market will realize the stock is coming from one source I find it all quite interesting but would love to hope the share price moves up tomorrow
cc2014: Woodford 29.6% - initial stake March 2015 and have added regularly Wales Life Sciences 17.6% - initial stake March 2015 LSP Life Sciences 7.7% - have held 3-4 years and added in March 2015 Ortho-Clinical Diag 5.7% - have held 3-4 years Octopus 4.4% - initial stake March 2015 Ruffer 4.0% - have held 3-5 years and added in March 2015 Royal London 4.0% - have held 3-5 years and added in March 2015 Parkway Technology 2.4% - think acquired in last 6 months UBS 1.0% - acquired in Sept 15 Redmayne Bentley 0.9% - acquired in April 16 Oxford Capital 0.7% - have held 3-5 years Jarvis 0.8% - new position Mr. T. Robinson 2.3% - Not sure how long held (likely years) but bought more in April 16 Mr D. Norwood 0.8% - Not sure how long held (likely years) - appears to be reducing Artemis 0.6% - Held over a year but possibly reducing William Soloman 0.6% - Held a few months ago but not sure if still in Share Centre 3.1% TD Direct 0.6% Hargreaves Lansdown 2.5% Barclays 1.3% Directors 0.8% There are a few I know about that are small that I've haven't detailed. In addition there are some PI's who are long term holders using paper certificates. All in all this means the "free float" is about 5% of the total share capital given most of those holders aren't going to sell even if the share price moves dramatically. It was one of the things that attracted me to this share
del44: Tim..... You are correct...... Quote.... "I asked about the cash flow projection in the TD note and in particular their forecast for an additional £10M funding requirement in early 2017, they were particularly vague about where it might come from. Wolfgang said it could come from another equity based raise or from some other source. He instantly ruled out any kind of equity swap along the lines of Yorkville or Darwin (Death Spiral) but said he would not rule out some other form of secured debt. Alternatively the cash could come from an upfront deal if and when they sign up with a partner (or partners), although he did concede that in the medical device/diagnostic world this was not common practice (unlike the bio-techs with their drug partnerships with big pharma). When I asked for an example he couldn’t immediately provide one..............................He said that the large shareholders had expressed the view that they didn’t want to discuss fundraising at this point and the time to discuss follow on funding would be when P4 has been approved for Europe, sales had increased and Sphere have secured one or more partners for P4 commercialization (if this goes according to plan the share price should be significantly higher than it is now)." But still....there is wiggle room for alternative fund raising other then issuing more shares....
longshanks: FWIW - the technicals are looking positive. Not for everyone, but I like to use them as a means of establishing decent entry points. What has got my eye is that this is currently trading at a nice premium above a 200d moving average curve that has flattened out after a prolonged downward trend. I can't see CE approval being a problem and I would expect the market to start factoring in the imminent arrival of this rubber stamp and the fact that this should kick-start commercialisation proper. In this respect I expect the share price to make a decent recovery back into the low 20's over the next few months. I am not too happy, however, with the strong likelihood that a significant placing will be required to bring this to profitability; with this I expect vultures to be swooping overhead for some time and you could argue - why buy when there are such forces at work. The one thing adding speculative interest for me is that they could land a good licensing deal (almost out of the blue) once they gain CE approval for Proxima 4. If it came with significant upfront and milestone payments then such a deal would be transformational and lead the price into the mid 40's very quickly.
cumnor: First partner is important-they will have done their due diligence before committing staff and resources to this product-so this is quite positive and along with CE mark authorization it will be a big milestone. After that it boils down to how management play it, how reliable, cost effective and time saving (compared to the present situation it certainly is) the product is. If it meets these criteria-and things are looking positive-then further funding will not be an issue and key players will have either snapped the company up or funding from a much higher share price will take place as stakeholders in the field recognize the potential of the product long before advfn posters do. Therefore funding wont be an issue if, as it seems, this small company product(it is generally the Abbotts and J&Js of the world who innovate this kind of thing)works. It is a gamble as it is with any single product developer so my investment is modest. imo
Sphere Medical share price data is direct from the London Stock Exchange
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P:40 V: D:20170429 01:53:48