Aura Renewable Acquisiti... Share Discussion Threads

[clarky5150] 13/3/2008 12:59

So another down day. 14 more and its game over! When does this become reward outweighing risk i wonder?

[n_w_b] 23/2/2008 17:13

Whether to buy?

It's clearly being shorted inorder to pick up cheaper, but at what price to buy.

Current Market cap : 12.12m
Total shares : 65.5m

Cash in bank : 6m
Cash in the Bank per share, excluding Assets : 9.1p

So currently, if someone was going to make an offer at the current price it would only cost them 6.12m.


So whom would be interested?



There's clearly a lot of value in it's portfolio. Should be worth a lot more than 6m? It paid 4.2m for the right to sell Emselex in the UK, let alone the rest of it's pipleline.

??

[goodgrief] 22/2/2008 17:48

Most biotechs are just a gamble. Name me any in the UK market that aren't!?

A gamble that the products in their pipeline don't fail at any phase of testing and a gamble that they'll be able to sign deals for those products.

[vision88] 22/2/2008 17:10

When to invest? basics does it have a good cash flow, if no then its a pure gamble, that may or may not pay off.

This on the face of it was a pure gamble that now is seen not to have paid off,sale of the company looks to be its only route to some cash recovery.

vision88

[february 30th] 20/2/2008 20:57

Well, I did once briefly consider buying it. There seemed to be a lot of voices suggesting it was going in the right direction. But it seems that the cash demands of the business were very high, with no immediate prospect of profitability.

[drewz] 20/2/2008 18:44

Not one of the Independent's best tips then (BUY Ardana at 125p, I seem to recall)!

[february 30th] 20/2/2008 15:26

Why didn't they sort out their funding issues when the price was over a pound? Was a placing at that level, or even at big discount from that, impossible? And to leave the issue open, in the public domain, is surely asking for the share price to be pushed down.

[dr biotech] 20/2/2008 12:09

So then after talks progressing well etc for many months management throw in the towel. I can't see this one ending happily unfortunately


LONDON (Thomson Financial) - Ardana PLC, the Scottish-based pharmaceutical
company, said it is seeking to sell or merge the company in order to increase
the shareholder value of its product pipeline.
The decision to sell comes after a strategic review in December which
concluded the company had to focus efforts and resources on products that are
closer to the market.
The company has experienced a difficult year, with CEO Maureen Lindsay
stepping down before poor half year results in October. At that time, the
company said it did not have enough cash to continue with its plans for the next
12 months.
Ardana emphasised that it will scale back its activities to save cash and
will halt further development on its Tevelerix LA cancer product and its
testosterone cream.
The company advised in a separate management statement that cash and
equivalents at the end of January 2008 was 6.1 mln stg, compared with 17.4 mln
last year.
Cash burn at the end of last year was 10.4 mln stg compared with 9.7 mln at
the end of December 2006.
Ardana CEO Huw Jones said: "Ardana's strength is its portfolio ...
Successful execution of our strategy to sell or merge the Company will enable
the potential in the pipeline to be maximized".

[e-mail]
jh1/ejp

COPYRIGHT

[southwards] 08/2/2008 18:19

this is typical of a fundraising going on in the background. i wouldn't be at all surprised to hear of such news in the short term.

am watching VERY closely but will only buy in once the uncertainty is over. better to buy at a premium when the uncertainty has cleared and the share price is on the way up rather than catch it pre-fundraising. been there too many times in the past to fall for that one.

[gnomet2] 05/2/2008 15:43

It got stamped on pretty quick!

[entj] 05/2/2008 12:09

Something stirring in the undergrowth?

[goodgrief] 10/1/2008 12:14

Not much loved in today's markets...

US regulatory boost for Ardana



Ardana, the small-cap Scottish pharmaceutical company, yesterday said it had agreed a development programme with the US Food & Drug Administration for its Teverelix product to treat endometriosis, a condition that affects some 89 million women around the world.

The so-called pre-IND agreement sets out the FDA's requirements for the testing of the new drug, and Ardana said it plans to make a formal application for testing this year, with phase II clinical trials to follow.

Shares in the Edinburgh-based company, which specialises in human reproductive health, climbed 0.5p to 39.5p after the announcement yesterday.

Endometriosis arises in pre-menopausal women when the lining of the womb grows outside the uterus, typically in the pelvic cavity. The condition can cause severe and chronic pain, infertility and heavy periods.

In 2004, it was estimated that there were approximately 17 million cases of endometriosis in the seven major pharmaceutical markets - the US, Japan, France, Germany, Italy, Spain and the UK.

It is well documented that endometriosis is a hormone-sensitive condition, and Ardana said yesterday that two previous phase I clinical studies have shown Teverelix can reduce oestrogen levels rapidly.

Dr Huw Jones, Ardana's chief executive, said: "We are encouraged by the feedback we have received from the FDA on the way forward for Teverelix in endometriosis.

"There is, in our view, a high unmet medical need for an effective treatment for endometriosis."

Teverelix is also being developed to treat the prostate enlargement condition BPH.

[dr biotech] 02/1/2008 10:04

This bio seems to sum up the whole sector. Management promise a deal to take things forward, nothing occurs and the share price dives. Might be worth a punt now, but I can wait for news

[gnomet2] 07/12/2007 16:45

Also the funding need, I reckon.

[dr biotech] 07/12/2007 16:11

Juat a general lack of belief in the Bio sector coupled with no likely deal this side of Xmas?

[vow] 07/12/2007 16:02

Fairly harsh mark down today anyone have any ideas why?

[n_w_b] 26/11/2007 17:19

LONDON (Dow Jones)--U.K. biotech Ardana PLC (ARA.L) said Monday results from a new study of its testosterone cream give it an edge over rival products.

The cream, used for the treatment of testosterone deficiency in men, was tested on 12 patients in the U.S. in a small trial to determine whether showering affected the absorption of the drug, which can be a problem with current treatments.

Existing products on the market require users to avoid showering for anything up to six hours after application, to ensure the active ingredients are absorbed through the skin.

Ardana said the study showed users of its product could shower less than an hour after applying it without any change in the level of testosterone absorbed.

"This gives patients much more flexibility and convenience than existing testosterone creams and gels," Piper Jaffray analyst Sam Fazeli said in a note.

"We are very encouraged by these positive results as they indicate a potential advantage for our cream by allowing patients the convenient option of showering much sooner after application than is currently recommended for testosterone gels," said Ardana CEO Huw Jones.

The Scottish drug discovery firm is currently recruiting patients for a phase III trial in the U.S..

Piper Jaffray's Fazeli added Ardana's product only needs to be applied to the upper part of one arm, as opposed to arms and chest for other gels, and does not contain alcohol or irritate skin. Its slated for launch in 2009.

He said the U.S. market for testosterone replacement therapy is worth more than $500 million a year, while Europeans spend about EUR40 million to EUR50 million a year. Marketed products include Solvay Pharmaceuticals' (SOLB.BR) Androgel and Auxilium Pharmaceuticals Inc.'s (AUXL.NQ) Testim.

Ardana plans to market the product itself in Europe but has yet to unveil its U.S. strategy, which could involve a licensing deal, Fazeli added. He rates the stock buy and has a price target of 260 pence.

Shares were flat at 1115 GMT Monday at 58.5 pence. However, its stock rose almost 5% last week following the publication of positive fresh data on Teverelix, its treatment for benign prostatic hyperplasia, yet remain below a year-high of 123 pence reached in February.

Teverelix is also being evaluated as a treatment for prostate cancer, a market worth about $4 billion. It works by reducing levels of male hormones, which has been shown to slow the growth of cancers and prolong survival.

Chief Financial Officer Graham Lee told Dow Jones Newswires the latest data showed the drug can suppress testosterone levels for up to eight weeks.

[dr biotech] 21/11/2007 11:59

Seems a positive enough clinical update, but until they can get funding for more than 12months we aren't going anywhere.

[vow] 21/11/2007 08:04

Ardana announces positive results for Testosterone Cream in supplementary study




LONDON (Thomson Financial) - Ardana says that its Testosterone Cream has
been shown not to act as an irritant for the skin in a supplementary clinical
trial.
Testosterone Cream for the transdermal delivery of testosterone is in
late-stage development for male hypogonadism.
Huw Jones, Ardana's chief executive, said: "Testosterone Cream represents a
very important near-term opportunity for Ardana. The data from this study add
low irritant potential to the other user-friendly properties of our
formulation."
Transdermal formulations are increasingly popular as they avoid the
inevitable "roller-coaster" effect experienced with earlier formulations such as
injectables and implants, Ardana says.
However, a significant disadvantage of the currently available transdermal
formulations is the skin reactions observed at the application site, such as
erythema, acne and dry skin at an incidence of up to 10 pct, the company
explains.
[e-mail]
bsd/jfr

[vow] 21/11/2007 08:03

Ardana says positive preliminary results for phase II study of key drug for BPH




LONDON (Thomson Financial) - Ardana has announced positive results to a
mid-stage study of its key compound, the GnRH antagonist Teverelix Long Acting
(LA), in the treatment of benign prostatic hyperplasia (BPH).
The phase II study demonstrates that patients may only need to have two
maintenance doses per year to treat the symptoms of the prostate enlargement
condition BPH, a significant potential improvement over current treatments,
Ardana says.
[e-mail]
bsd/jfr

[entj] 20/11/2007 15:34

Why in auction?

[february 30th] 11/10/2007 12:52

Wouldn't it have been more sensible for Ardana to have just gone ahead and got the funding, even if it was at a heavily discounted rate? By saying that they're looking at all options to raise the cash they are surely creating uncertainty? Who would want to invest in Ardana with this hanging over them? In my opinion better it's probably better to wait and watch.