Bioseek Share Discussion Threads

[danosborne] 28/4/2011 10:23

ha ha - well said spaceparallax

[spaceparallax] 28/4/2011 10:11

I thought our visitor Curious might have a backer - you bashers are so transparent. Subtlety is required if you hope to make any meaningful impact!

[mansard] 28/4/2011 09:40

I agree about the banking coment. The vendors of BioSeek must be desperate!

[spaceparallax] 28/4/2011 09:38

Very solid results with a very positive outlook. The refinancing deal with BioSeek seems a fair one for both parties.

Good to see Mkt response, although I'm not surprised. This has been a classic example of the Mkt jumping to conclusions over the uncertainty introduced by the delay. Fortunately, it's provided an oppo for some of us to top-up at a discount rate.

Onwards and upwards from here - back around 20p before long IMHO.

[danosborne] 28/4/2011 09:15

Asterand 2010 revenues jump as BioSeek sales soar 68pct

8:49 am by Sergei Balashov

The 2010 revenue did not include any contribution from Asterand's five year contract win with the National Cancer Institute (NCI), which is worth up to US$24 million
Asterand (LON:ATD) has cancelled a proposed share issue and will now pay the entire remaining consideration for BioSeek in cash after securing US$6 million in loan notes.

BioSeek, which was the company's first acquisition since going public, strongly contributes to sales growth in 2010 with its revenues soaring 68 percent over the previous year to US$6.4 million. Revenues at Asterand jumped 14 percent year on year to US$21.3 million, the company revealed in its full year report this morning.

The provider of human tissue based services posted an operating loss of US$2.1 million, nearly achieving break even earnings before interest, taxes, depreciation and amortisation (EBITDA).

"We invested as much as we could into our future, for example by hosting our first ever human tissue conference and in recruiting a top-flight CSO, whilst still achieving effectively break even EBITDA," said chief executive of Asterand Martyn Coombs.

Investors cheered the news and the results as shares in Asterand rallied 13 percent to 16 pence in early deals.

The report also noted that the 2010 revenue did not include any contribution from Asterand's five year contract win with the National Cancer Institute (NCI), which is worth up to US$24 million.

In addition to that, Asterand has secured key contracts from pharmaceutical and diagnostic companies, and government agencies, including with Ono Pharmaceuticals, Eisai Co. Ltd., Cellzome, Amylin Pharmaceuticals and the Environmental Protection Agency (EPA).
"With this contract (NCI) and significant secured commitments from several other large clients, we have a greater line of sight on sales than ever before. We believe that these advancements put us on firm footing for future growth in revenue and that because our business is quite scalable, this will result in sustainable profitability," said Asterand.

Gross margin stood at 56 percent compared to 58 in 2009, while operating expenses increased from US$12.4 million to US$14.1 million. The company had US$5.9 million in cash at the end of the year.

BioSeek, a California-based company with propriety human primary cell based predictive technology was purchased for US$9.5 million in late 2009, which represents a multiple of less than 1.5 times 2010 sales. Asterand called this a favourable arrangement gives the company's true value.

The loan note is redeemable by 30 December 2013. Asterand has also entered into a warrant agreement with the lenders, giving them the right to subscribe to up to 5.2 million shares at 14.12 pence per share. The warrant agreement will expire in three years.

[curious] 28/4/2011 08:15

Profit picture is deteriorating.
Looks like the bank would not give them the money previously promised to pay the Bioseek vendors. This explains the reporting delay. It is scary when a bank refuses to release money previously promised. They probably saw something in the figures that scared them.
Great long-term prospects - yes. But short-term - yuk

[and then] 28/4/2011 06:06

Cheers Swing! Yeh, she scrubs up ok i guess! :)

[swingitbaby] 27/4/2011 22:27

I bet you dont sleep at night ! Top Mrs mate :)

[spaceparallax] 27/4/2011 16:33

When's the big day Dan? You'll have plenty of time to be glad of your investment methinks - you've hardly put it into some exotic miner or pharma company that's gobbling cash.

[danosborne] 27/4/2011 16:30

Hi all, I have been staying away from here for the last week or so as this share is giving me sleepless nights. I have a high percentage of my money in this share (which is not a huge amount if your wondering - ha ha). First time I have checked the share price for a while and have had a pleasent surprise. Fingers crossed for tomorrow!!!

[spaceparallax] 27/4/2011 16:25

Welcome aboard, you could get a pleasant return tomorrow and if not then I really do see this as a biggy for the future - offering a fundamental change in pharma testing that should enable big companies to humanely and more precisely target their tests, which should offer public kudos and greater efficiency in development.

[lomcovaks] 27/4/2011 16:22

Bought in at the last gasp this afternoon, hoping for positive trading statement and further progress during the year. Paid 14.35p

[spaceparallax] 27/4/2011 16:08

nice pre-close bounce

[and then] 26/4/2011 15:26

Was waiting for this break out of the falling wedge and it happened so fast i missed it!

[and then] 26/4/2011 11:19

Nice drop out of the rising channel on Euro for a few pips...

[spaceparallax] 26/4/2011 09:32

Looking forward to them and the likely upward correction.

[chrisb1103] 25/4/2011 11:59

Robrah - that's over 12 months old!

Prelims on thursday guys, everyone holding their breath here? lol - let's hope we get some upbeat statements about future growth prospects to restart the interest we had a few months back, looks like we've got a downtrend to break at the mo