Aortech Share Discussion Threads

[harrogate] 11/10/2019 08:23

Ok my language was inaccurate I agree with your point. My argument still stands

[someuwin] 11/10/2019 08:22

...What did happen in the TMVR space a couple of years ago?

[landy90] 11/10/2019 08:16

Harrogate, a licensing deal with a major HV company is not the end game. The industry has changed and the large HV companies buy the IP they require rather than license. And they need data to purchase. Look at what happened in the TMVR (trans cath�ter mitral valve repair) space a couple of years ago.

[landy90] 11/10/2019 08:09

Harrogate, re setting up for manufacture, before any major device company acquired new technology, it will want to see data from testing of a valve, computational modeling will provide some of that data but AWT and animal data will also be required. For ISO and FDA approval to get into human trials, the valve tested must be the same as the valve going into man. So AOR needs to manufacture valves and to maximise value for the valve needs to be able to demonstrate to the buyer that a scaleable repeatable manufacturing process is in place. AOR are looking at automating the manufacturing process hence the design that they start testing is the design that can be made in volume. Valuable IP is created in manufacturing process patents. The team know what they are doing and are going about things in the right manner.

[harrogate] 11/10/2019 08:01

I fully understand that even though I am a large holder ( of 20 years standing !) that my view is on the negative side. That is principally because almost nothing of what AOR have promised has ever happened! It is easy to set up clean rooms and to improve processes and sign development collaborations. What they have failed to do either in the core business or with the heart valve for 20 years is actually to get anyone to pay them money for things. We know that the outcome here has to be a licensing deal with a major so when we see some sign of that my glass will be full to the brim!

[langland] 11/10/2019 07:59

Good summary, Bones. I don't think there is much I can add save to say we are pursuing 3 new business streams to add to the existing one and this has been achieved so far on minimal cash resources. For that the company deserves credit. It is 3 months since the last update and we are promised another one next month. Hopefully, news on progress will become more frequent as various boxes are ticked in coming months.

[bones] 11/10/2019 07:39

Excellent update out. Plenty for the market to absorb. Good to see:

- well managed cash burn, demonstrating the value of the established licence income stream
- new key employee supported by government grant
- establishment of two new clean rooms for trial manufacturing of grafts and patches
- industry advances and recognition in polymer heart valve development which is Aortech’s ultimate holy grail

I will update the header when i get a moment.

Well done to Bill and his team. I know from meeting them all at the AGM how much they are dedicated to this cause and what a collective of expertise and industry nous the company has working towards the goals.

PS, I do not share the half empty glass that Harrogate sups from!

[semper vigilans] 11/10/2019 07:37

I think that it is better that the company does not over-promise.
Positive update though and still only £8m mkt cap.

[amt] 11/10/2019 07:32

Very positive update. At this rate 12 years of cash left so cash not an issue. Lots of positives on the development front.

[harrogate] 11/10/2019 07:32

Well what do we think? Seems pretty vague to me on progress against the key milestones. No sign of any new licences for core product and are we really setting ourselves up to manufacture heart valves. Seems unlikely.

[bones] 10/10/2019 21:25

Just realised what you meant in your post 2726, Landy90, “chairman of the QCA” being of course Gervais Williams, the head of the Miton fund that sold 6% of AOR and failed to notify it via RNS!



This is beyond parody and sums up the rotten state of affairs in the apple cart that is the City.

[landy90] 10/10/2019 18:37

Very disappointing that Institutional investment in small or micro cap is so short term, redemptions at Miton forces selling of AOR and increases cost of capital. We are fortunate that AOR is well funded just now and does not need to raise capital and I am sure the Board will be looking after investors, especially those that put up the new money last year to allow the new strategy to be pursued. But the QCA looks for AIM companies to behave properly yet the institutions can’t follow the FCA rules...
Compare to Walker Crips. Bought big in placing and have continued to support, the market needs more investors like them.

[bones] 10/10/2019 18:06

Very good questions, Landy90, the last of which I asked Bill Brown at the AGM! VC’s have been throwing silly money at so called “unicorns̶1; with no money and a lot of hope, yet a real potential gem like AOR with things on the go get zero credit from AIM.

[landy90] 10/10/2019 17:36

There were more sellers than buyers as Miton off loaded 860,000 shares. Strange that the Chairman of the QCA cant issue a TR1. Overhang must be gone now so hope any announcements move the share price to a level that at least gives some credit for the value. Remember in 2016, Foldax got $3m for 18% of the company - post money - $17m. With AOR at £8m, over £2m cash in the bank, a polymer licensing business and the patches and grafts, AIM is giving no value to the Heart Valve.Why be public I ask?

[bones] 09/10/2019 19:14

25Oct69, interesting theory although it seems to me today consisted of small punters piling in after early purchases found the MM’s out of stock. I understand from someone with access to the institutional quotes that the main MM’s were bidding for stock all day and little was on offer in size. It may have just been a technical move but I agree we have been stupidly oversold thanks in part to Miton’s woes and the paralysis in small markets generally.

[25october1969] 09/10/2019 19:03

I suspect the three wise Aortech men who did the Lisbon trip had a word in the earhole of other attendees and alerted them to the potential of AOR by doing comparisons with Foldax and the price differential and someone has bitten......and quite rightly so......watch this space......possibly.......

[bones] 09/10/2019 18:59

We appeared to be gloriously free of Miton selling this time round which supports the argument that Miton did indeed sell their lot last time we rallied out of the 40-50 range.

[bones] 09/10/2019 18:56

NYB, hopefully long bought out by a major before that timeframe but this assumes all goes to plan development wise. Board appeared confident at AGM in their strategy.

[ny boy] 09/10/2019 16:59

Could be something brewing, I guess the broker rec to 400p, is still a tad optimistic but I will remain invested for 3-5 years to allow the share price to grow.

[greedy rooster] 09/10/2019 10:21

I've added today - we're overdue news with 'important milestones' in the offing according to Bill Brown's last statement.

[bones] 09/10/2019 10:16

NY Boy, the mid-low 40’s has held several times over the last year. Time we rallied strongly!

[ny boy] 09/10/2019 09:56

Still holding and adding on dips to support levels, technical buying lately.

[bones] 09/10/2019 09:10

Bit of tickly action moves the stock in the right direction this AM. MM maybe short of stock? Now we just need a positive update ideally from the company!

[someuwin] 06/10/2019 07:51

Yes. I'd like to see a full product development update. Detailing exactly where they are; what they've achieved so far and what the future roadmap looks like.

[bones] 04/10/2019 18:06

Would be good to know where AOR is now on the process to polymer valve development. Hopefully an update will be imminent along with the other strands of business.