Centurion Res Share Discussion Threads

[2lance] 21/9/2007 13:53

£10m enterprise value at present share price with some £6m cash on board. Cash should last for a while even though the CEO, Neil Clark was paid £266k in 2006 and £209k in 2005 whilst the chairman, Alan Goodman was paid £161k in 2006 and £128k in 2005 for 2 days per week of work. M6G works but is competing against one of the cheapest drugs in the medical armament, morphine and will only have a few years exclusivity. CEN have promised to out-license M6G but a buyer would need to do expensive phase III trials all over again in the US and EU. CEN would gladly take £10m for the product in upfront payments so no need for a takeover.

[qazwsx123] 21/9/2007 13:32

CEN tipped as a "Buy" today in Investors Chronicle.

Mentions that Edison Investment Research think CEN might be worth over £85m in a take-over (i.e. 400p+).

[buywell2] 16/9/2007 18:18

Cash burn will see this company asking for more money within 6 months

It has a product which is too dear for NHS and similar services to buy

LONDON (Thomson Financial) - CeNeS Pharmaceuticals PLC said it has posted a
first-half net loss of 4 mln stg, compared with 3.6 mln last year.
Cash at the end of the first half was 800,000 stg, down from 5.4 mln last
year. A placing in August raised 5.7 mln stg net of expenses, it said.
The decrease in the company's net assets to 6 mln stg, from 10.6 mln stg in
2006, was attributed to lower net funds from research and development and
overheads.

[the_doctor] 16/9/2007 18:07

Kaling - three are short PI studies close to completion

Allin - it wont see widespread use, because morphine will be much cheaper

[allin] 15/9/2007 17:58

still a long way to go for m6g....however it looks promising, and should it be a success i.e widespread use, then share price could easily be many times more than today's ... believe most know this but how long can one be patient?

[kalingalinga] 15/9/2007 16:33

gosh at least 5 more trials required for M6G

[gbh2] 15/9/2007 15:08

"this will be 2.00 in 12mths "

Still a hell of a lomg way off the £3.45 that they were in 2004!

Long term investment? - Nothing like imo!!!!!

[the_doctor] 15/9/2007 12:50

Doesnt sound like it... they're still looking for a partner, rather than closing a deal

"The company has its M6G opiate-free sedative in late-stage clinical trials and it is currently looking for development partners"

[antonio palocci] 14/9/2007 20:34

A very undervalued company this will be 2.00 in 12mths worth the wait imo. I believe they are on the cusp of announcing very important deals

[knowing] 14/9/2007 09:54

DAILY MAIL
The City Focus Column:
*(John Lewis) Partnership is paying dividends.

The Analysis Column:
*SIG (SHI) – Hold.
*CeNeS (CEN) – Speculative buy.

[the_doctor] 13/9/2007 20:48

"The company has its M6G opiate-free sedative in late-stage clinical trials and it is currently looking for development partners"

Thats funny... last time they said that the partnering was going as planned.

If it actually was, they wouldn't be looking any more, as they'd be in the final stages. Looks like they dont have anyone lined up.

Word of advice - do not trust this company.

[qazwsx123] 13/9/2007 10:20

CEN valued at over 400p:

.................................

Interim Results
13th September 2007

LONDON (Thomson Financial) - CeNeS Pharmaceuticals PLC said it has posted a
first-half net loss of 4 mln stg, compared with 3.6 mln last year.

Cash at the end of the first half was 800,000 stg, down from 5.4 mln last year. However, a placing in August raised 5.7 mln stg net of expenses, it said.

The decrease in the company's net assets to 6 mln stg, from 10.6 mln stg in 2006, was attributed to lower net funds from research and development and
overheads.

The company, which specialises in neurological products, added that it has signed an out-licensing agreement with the Japanese company Ono Pharmaceutical, which will co-develop CeNeS' CNS 7056 compound for anaesthesia.

CeNeS chairman Alan Goodman commented: "Following the successful fundraising in August, CeNeS has a solid balance sheet."

In a telephone interview, CEO Neil Clark said that CeNeS is keen to break out of its current classic biotech model of going back to the market every 18 months. The company has its M6G opiate-free sedative in late-stage clinical trials and it is currently looking for development partners.

He said that the cash burn this year and last year had been historically high, around 5 mln per year, because the company has been running early and late stage trials in tandem. The burn rate will slow next year as partnership deals are signed.

Jacob Plieth, analyst at Edison Investment Research, said the interim results showed steady progress, but of greater interest is the extent of CeNes's product pipeline - the company has a revenue-sharing deal with Ergomed Clinical Research to develop a cancer pain product currently in phase II trials, for instance.

However, the next trigger for the firm's share price will be a licensing deal for its M6G sedative. Recent fundraising has increased the likelihood of obtaining favourable terms in any deal. The Ono agreement should give investors confidence that the management can deliver on partnership promises, he said.

On the strength of its product pipeline, Edison values CeNeS at 85 mln stg,
significantly above its current market cap of 16,4 mln stg.

[loafofbread] 13/9/2007 09:28

Did I miss the results statement?

[iaincc] 13/9/2007 09:15

Looks to me that is the patient does not curb it's excesses it will be dead within the year.

Also looks like it is only worth the last round of cash raising.

Unlikely to draw in more suckers so the clock is ticking a death chime.

Directors got golden parachutes ??????

[maconscreen] 13/9/2007 08:06

thank goodness some sanity has returned.
remember it does not take a lot of
selling for a big price drop.hang on
don't be fooled into a rash decision !!

[kalingalinga] 13/9/2007 07:54

Excellent £4m v £3.6m that must be an improvement....

[kalingalinga] 13/9/2007 07:53

LONDON (Thomson Financial) - CeNeS Pharmaceuticals PLC said it has posted a
first-half net loss of 4 mln stg, compared with 3.6 mln last year.
Cash at the end of the first half was 800,000 stg, down from 5.4 mln last
year. A placing in August raised 5.7 mln stg net of expenses, it said.
The decrease in the company's net assets to 6 mln stg, from 10.6 mln stg in
2006, was attributed to lower net funds from research and development and
overheads.
The company, which specialises in neurological products, added that it has
signed an out-licensing agreement with the Japanese company Ono Pharmaceutical,
which will co-develop CeNeS's CNS 7056 compound for anaesthesia.

[the_doctor] 12/9/2007 11:36

sicilian - you'll get no reasoned debate from QAZ

[sicilian_kan] 12/9/2007 11:26

QAZ, how much do you think CEN will get in milestones by the time they have completed Phase 1. I've put down my estimate, put down yours and justify it.

Next tell me how much CeNeS will spend between now and say Q1 2009, by when Phase I will be completed (note that the Ono Phase I trial, i.e. the japanese Phase I trial is not due to start until H2 2008 at the earliest, and there is no mention of Phase I completing in 2008 on the RNS)

You will see that the milestones compared to CeNeS's expenditure are insufficient, should there be no licencing deal for M6G (and there hasn't been yet).

[qazwsx123] 12/9/2007 11:14

the_doctor, there is no publically available clinical evidence on CNS 7056 to support your comment "too little chance of even coming". Infact, the chances of success of CNS 7056 are increased by the fact it uses a clinically validated mechanism, and only needs to produce similar sedation to the existing treatment midazolam but be more rapidly broken down to be successful. It also offers less negative drug-drug interactions than midazolam.

You also ignore the fact that ONO's investment in the Japanese rights to CEN's CNS 7056 is a calculated vote of confidence in the drugs prospects based on their analysis of the preclinical data with which they must have been satisfied.

Furthermore, milestone payments are usually paid whether or not results are good, i.e. at 50% recruitment into each trial and at end of each trial.

The ONO deal should also help CEN achieve an even better deal for the rest of world rights to CNS 7056.

P.S.
A lot of OXB's drugs are also early stage and in higher risk areas, so by the same logic you must assume their chances of success are even less! LOL.

I'm off out now with the Mrs to look at BMW's.

[the_doctor] 12/9/2007 11:03

"fact remains the milestone stream arising from CEN's recent Japanese deal for CNS 7056 with ONO, looks potentially very good for CEN"

No, it looks too far off and too little chance of even coming

[qazwsx123] 12/9/2007 11:01

Dr Biotech, if that is the case thanks for pointing it out; but the fact remains the milestone stream arising from CEN's recent Japanese deal for CNS 7056 with ONO, looks potentially very good for CEN, and there is still the rest of world rights available for another deal on CNS 7056, plus other drugs for deals/royalties, and retained interests.

[dr biotech] 12/9/2007 10:57

QAZ - you can't even get the facts right, let alone be objective. Just look at your recent post about the 5161 trials, you didn't realise that the trial recruiting now is the same as the one announced last year (and is already late).