Share Name Share Symbol Market Type Share ISIN Share Description
Centurion LSE:CEN London Ordinary Share GB00B3ZNRX66 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.645p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -0.5 0.5 1.3 1.59

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Date Time Title Posts
22/1/201414:08Centurion - the rebirth of CHC247
26/11/201309:45Spectacular results next to Centurion-
25/11/201318:12High grade copper nickel is where to be1
12/11/201215:56Centurion - the rebirth of CHC3
26/6/200806:31CeNeS starts New Year6,139

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ethorne: Its a new company, new assets, , in a new jurisdiction (No1 in the world for mining). The assets, located in highgrade producing province, that is recognised as woorld class - see Outakumpu - have come from a hugely successful company in Western Areas, $500 m mkt cap and divi paying. Let the sellers out and then see the buying. Look at Altona Mining Ltd on the ASX (not London one!), who struck with a project along strike from FinnAusts, share price rocketed. Hope people get caught with their trousers down as I'm invested and tired of the harping
55investor: In comparison to other aim junior miners this looks a steal and they can raise money at over double the share price, if somebody is prepared to pay 1p for 200k's worth they expect a profit, makes the shares cheap at current prices as they have a lot of cash next to a very small market cap.
pwhite73: Nobody is falling for these pack of lies any longer. Isn't it ironic that the share price is now exactly the same as it was (0.375p) when they got suspended and cancelled as CHC three years ago. The one consolation is that I believe the directors have got their own money tied up in this pile of poo.
pwhite73: I also sold out immediately on relist. What's really funny is that the share price was suspended then cancelled at 0.35p. There was a 7 to 1 consolidation now the share price is heading back to the old 0.35p LOL. Don't be surprised if it gets suspended again at 0.35p on the grounds the mine is uncommercial.
sicilian_kan: Looks like a disaster to me. 1. How good the deal is will depend on whether or not Paion's shares can hold up. Shareholders will only get the equivalent of 48.9p IF they can sell their shares for that value once their receive the new ones. 2. Paion's share price is likely to fall. Their shareholders will know that there will be a mass exodus of CEN shareholders selling a vast chunk of their new company and driving down the price. Look at OXB to see how their share price fell, partly contributed to by newly acquired Oxxon shareholders selling out after the deal. Plus there is the credit crunch still biting on bios. 3. So although today's equivalent is a 48.9p deal per share, it may well be you get significantly less than that if you hold, hence today's poor share price reaction.
sicilian_kan: UK biotechnology in need of healthy injection By Salamander Davoudi Published: January 10 2008 02:00 The UK biotechnology sector has failed to deliver and its credibility has been weakened by plunging share prices, slow drug development and investor scepticism, according to a report by Seymour Pierce, the broker. Zhining Xu, an analyst at Seymour Pierce, said the poor state of the credit markets and general negative sentiment had meant last year was a "disaster for biotechnology in the UK". EDITOR'S CHOICE Silence addresses 40% share price fall - Jan-08Credit squeeze casts cloud over biotech - Dec-31Biogen fails to attract buyers - Dec-13Lex: Biogen retreats - Dec-13Novartis set to unveil job cuts - Dec-12GSK in $100m China push - Dec-13In 2007 the country's 47 biotechnology stocks, which constitute Seymour Pierce's UK Drug Discovery and Development Index, underperformed the FTSE All Share by 36.1 per cent. Of the companies in the index 38 suffered decreases in market capitalisation. The sector's problems were further highlighted by the fact that three highprofile biotechnology companies – Antisoma, Oxford BioMedica and Renovo – struck big licensing deals at the start of the year yet the gains they achieved have since been totally wiped out. Robin Davison, an analyst at Edison Investment, said: "Larger companies have underperformed smaller ones as investors have taken flight from the sector generally. You can't sell the smaller stocks as they almost get wiped out." Shares in Antisoma and Oxford BioMedica have fallen more than 40 per cent in the past six months while Renovo's stock has fallen more than 30 per cent. "It seems a large proportion of investors lose interest, or patience, in waiting for the next value inflection point," says Mr Zhining. "But all three of these companies have a solid cash position and have their lead programmes covered by their partners so they are in a position to push ahead with early stage drug development projects," he added. The report estimates that on average biotech stocks are trading at a 51 per cent discount of their fair value consensus. Optimistic industry observers see potential upside in the short-term and believe the sector may have bottomed out and momentum could build this year. But Mr Davison believes things could get worse as many biotechs are starting the year with less money and the prospect of having to raise capital in more uncertain markets with a reduced share price. The shift from biotechnology, however, has benefited medical devices and medical technology companies, which often have business models with far shorter time lines to profitability. Brett Pollard, an analyst at Numis, said: "We are seeing a flight out of drug makers into medical devices and diagnostics as the regulatory risks are less. We are likely to see more interest in 2008." Last year, many biotech companies were hit by setbacks with their leading drug candidates. Vernalis' Frova failed to gain approval for menstrual migraine from the US Food and Drug Administration. Allergy Therapeutics' key clinical study was put on hold by the FDA after a reported "rare adverse event" and GW Pharmaceuticals was requested by the FDA to carry out additional trials for Sativex, its leading cannabis-based medicine. According to the Seymour Pierce report only nine out of the 47 companies on the index made gains in 2007 while 24 of them lost more than 30 per cent of their market value. The biggest fallers in the sector were Vernalis, which has seen its share price fall almost 90 per cent in the past six months, and CeNeS which has lost 70 per cent
qazwsx123: 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.
qazwsx123: stowan lea (Post 3275) CEN have received positive coverage, including as follows: ---------------------------- Investor's Chronicle 11th August 2006 Pharmaceutical mega-mergers are a thing of the past, although smaller-scale acquisition (M&A) activity will continue, say analysts at research consultancy Wood MacKenzie. Despite sporadic rumours that GlaxoSmithKline could bid for AstraZeneca, a study into the world's top 25 pharmaceutical companies found they now prefer to boost pipelines with carefully targeted bolt-on acquisitions. In two such deals this year, AstraZeneca bought Cambridge Antibody Technology (CAT) and Novartis snapped up Neutec. "It's harder for companies to justify mega-mergers [such as Glaxo Wellcome and SmithKline Beecham, and Pfizer and Pharmacia]," argues Alex Grosvenor, analyst at Wood Mackenzie. "They're a short-term fix. Companies can strip out cost savings, but the evidence that they deliver growth is thin." Mr Grosvenor says the mega-merger's rationale was to grow the sales force, but this is no longer necessary. "An expansion in your sales force no longer equates to rising sales," he says. "It's difficult for sales reps to get the airtime with doctors as it's so competitive. Regulatory problems are an issue, too, with merging companies likely to have to divest products in therapeutic areas they dominate. And crucially, mergers have failed to improve research and development productivity, which is the main problem the drugs giants face. Put simply, mergers haven't enabled them to develop new drugs any quicker (in just the same way that oil mega-mergers haven't led to new oil discoveries). An additonal point is that they don't seem to do much for share prices either - both GlaxoSmithKline and Pfizer's share prices are down significantly since the mergers. Mr Grosvenor believes biotech acquisitions will continue. "Investors should look for companies with a strong pipeline of products with genuine commercial potential, and existing collaborations with big pharma," he says "That was the situation with CAT." Analysts at Canaccord Adams believe Protherics, which licensed sepsis drug Cytofab to AstraZeneca, Alizyme and CeNeS are candidates. "There are some attractive targets," says Mike Booth. "Alizyme ought to be one, although nobody ever seems to want it. CeNeS could be another, and there were rumours that Serono was looking at Shire. Drug giants can buy biotechs with loose change, but it depends whether they can be bothered." IC's VIEW Pharmaceutical giants continue to suffer poor research and development productivity and, with biotech company share prices low, further M&A activity looks likely. So, CeNeS (4.75p), Protherics (80.75p), Alizyme (97.25p), Shire (847.5p) and GlaxoSmithKline (1,422p) all rate buys, while AstraZeneca (3,158p) remains a sell. END ---------------------- Investor's Chronicle 16th June 2006 Biotech Sector Buoyed by Talk of Merger and Aquisition Activity Consolidation IS SET to continue in the biotech sector. Cambridge Antibody Technology (CAT) was taken over by AstraZeneca for £702m in May, and Neutec Pharma was snapped up by Novartis last week for £305m. But analysts at Canaccord Adams, who successfully predicted the CAT takeover, say that the merger and acquisition (M&A) activity is far from over. Analysts Karl Keegan and Mike Booth expect a rebound in biotech share prices in the autumn, boosted by further M&A talks. They believe that companies specialising in vaccines, antibody drugs, anti-infectives and those with unpartnered late-stage products are attractive propositions. Among the potential targets are Acambis, Antisoma, Canadian company YM BioSciences, Alizyme, Protherics, CeNeS and Renovo. Like CAT, which had a development collaboration with AstraZeneca, Protherics has a licensing agreement with the drug giant for sepsis product Cytofab, while YM BioSciences, Alizyme and CeNeS all have unpartnered late-stage drugs. The analysts think that Novo Nordisk, Serono, Shire Pharmaceuticals, Innovata, Vernalis, Elan and ProStrakan could be among the predators. One analyst, who asked not to be named, believes that Alizyme and Vectura could be targets, despite Alizyme's failure to sign a licensing deal. "Alizyme really is the fallen angel," he says. "Its failure to get a deal has put the creeps on people, but the shares might be interesting again soon. Protherics could be a target at some point for AstraZeneca, but it will wait until Voraxaze is [approved]. And someone could go for Vectura." However, Tim Roberts, fund manager at Cavendish Asset Management, believes that pharma companies will wait until products are closer to approval before opening their wallets. "Potentially, anything can get snapped up," he says. "But companies would rather pay for something that definitely works. Plus, after Vodafone and Mannesmann, there's a big question over M&A and whether it really adds value. M&A among smaller companies is more likely to produce something because the integration is easier." IC's VIEW With research and development productivity stalling at many pharmaceutical companies, including AstraZeneca, the drug giants are likely to continue acquiring late-stage products. So, Protherics (at 82p), Alizyme (99p), CeNeS (6.12p), Vectura (87p) and YM BioSciences (240p) are all buys. ------------------------------ Cambridge Evening News 13th June 2006 Painkiller company CeNeS is getting fed up with the stock market view of its business. The company is now approaching the final hurdle as it prepares to launch its post-operative painkiller, M6G on the market as a replacement for morphine, yet the share price remains at a miserable 6-7p. "We would like to see some recognition from the market," Simon Kerr, commercial director told the News. "Our brokers have put out a note saying the share price should be 18p on current valuation." Some may expect it to go much higher if the final Phase III clinical trial, results from which will be out in a matter of weeks, confirms the drug's efficacy. It works as well as morphine, but without side-effects such as nausea. The company already has data and market exclusivity across Europe for a decade after M6G is launched, and over the past few days has gained an extra five years via patent protection on a salt variation used in the drug. At its peak, M6G, which is the lead drug in CeNeS' pipeline, will be basking in a market worth £200m a year, and is expected to be launched next year. Mr Kerr said the patent relating to salt strengthened CeNeS' hand in negotiating with potential partners for marketing the drug. ------------------------------- Canaccord Adams Daily Letter 10th April 2006 Gave CEN a probability weighted Net Present Value of 18.1p, on 10th April 2006, as follows: 1) Based on just the current stages of M6G and CNS 5161 (and nothing yet for the rest of the pipeline or CEN's interests in three other companies). 2) Their calculation assumes royalty rates of 15% and chances of success of 60% for M6G EU, 30% for M6G US, and 15% for CNS 5161 (i.e. their assumptions for royalty rates and successes, are cautious). 3) They calculate a NPV breakdown, at 10th April 2006, as follows: M6G EU = 8.3p M6G US = 4.5p CNS 5161 = 5.3p Total = 18.1p 4) They will review the NPV as the pipeline progresses, including when the other drugs go clinical, PIII results for M6G are available (H2 2006) and deals are concluded. Refer also Post 2766: N.B. Predicted peak sales for CEN's second drug CNS 5161 (which is already in PIIb and PIIa for two seperate indications, results due next year) are said to be double those of M6G. --------------------------------- Transcript of Interview with CEN's CEO, Neil Clark to the Wall Street Reporter 17th March 2006 Extract from Page 6: " is a very exciting time and if we are successful in reaching our two primary outcomes from this study [PIII M6G] in the second half of this year, we believe we will have a great uplift in our value, and so obviously in terms of investors looking at potential investments, this is a company, it has a binary event later in the year, and if people are prepared to take the risk, they can potentially get a big upside". Page 8: "M6G is attracting a lot of interest because it has PIII trials ongoing. It is of interest to bigger pharmaceutical companies because there is a desperate need for new products to fill the sales and marketing arms. We have strong leads with expert players in the pain markets across the globe, and people are waiting as we are for this pivotal PIII data that comes out later in the year...When we get good data we are expecting to be able to negotiate the best partnership deal...". Page 9: "...a large pharmaceutical company that has a hospital sales force could happily pick up M6G as the potential product later this year, because it is a very efficient product for them to fit into their current infrastructure." Page 10: "...we are in pivotal PIII territory and our valuation is definately a mismatch. Stock markets get it wrong short-term not long-term, so we deliver the data later in the year that [there] will no doubt be a big correction for our market capitalisation and that's what we are looking to do". Page 11: "We are undervalued, we have pivotal data out later in the year, it is a compound which is a low risk compound, it is backed up by positive PIII and earlier PII data. CEN is a simple company efficiently run and there is a great possibility for a big upside later in the year".
qazwsx123: Erogenous Jones (Post 3070) are you sure that losses from sales of CEN, which is quoted on AIM, can be offset against Capital Gains Tax? Regarding your Post 3073, CEN's market capitalisation @ 5.13p = just £21m. That is too low for a Company with a lead drug (M6G) only months away from reporting final European PIII results and thereafter conclusion of a partnering deal imo. In addition, CEN's peak EU and US sales for M6G are predicted by independent analysts to be at least £200m pa (and that is before the intended expansion of the lable to cover respiratory depression or chronic pain). Partnering royalties of 15% to 20% to CEN for M6G could thus give CEN peak sales royalties of at least £30m to £40m pa, which could translate into a peak market capitalisation for the Company on just M6G of at least £300m to £400m (i.e 14 to 19 times the current level) imo. The second drug, CNS 5161, has a potential market twice as large as that of M6G, and is already in PII. Furthermore, analyst Cannacord Adams placed a discounted fair value of 18.1p on CEN on 10th April 2006, based on just the two lead drugs (M6G & CNS 5161); to be reviewed upwards upon potential good PIII results expected later this year for M6G and initiation of two other drugs into PI later this year. CEN share price obviously has huge upside potential imo. CEN were tipped as a potential take-over target well above this price and before the progress to date, so any longer down here may trigger a take-over bid imo.
qazwsx123: Posts from the other CEN thread, for reference, as follows: .................................................................................. QAZWSX123 - 10 Mar'06 - 11:57 - 1981 of 1995 edit hastings (Post 1980) either way, assuming EU approval for M6G, CEN's fair value is 36p to 50p imo. .................................................................................. QAZWSX123 - 10 Mar'06 - 12:11 - 1983 of 1995 edit hastings (Post 1982) a brief calculation of CEN's fair value, assuming the final European PIII trial of M6G meets its endpoints this summer, as follows: Cautious peaks sales estimate for M6G = £150m pa. Assuming CEN get 20% royalties based on PIII partnership deal = £30m pa royalties at peak. Modest multiple of 10 = market cap of £300m Current market cap @ 7.25p = £29.71m Therefore potential share price on peak sales of M6G alone = (300 / 29.71) x 7.25p = 73.2p. Discount that back by a cautious 50%, to allow for sales to grow to peak, gives a year 2006 fair value (assuming M6G meets its trial endpoints) of 36.6p. Add in something for the rest of the pipeline and the figure rises to above 40p. However, if peak sales for M6G should be £200m pa* as expected by CEN themselves, instead of £150m pa, the fair value rises to around 50p (and more if we add in something for the rest of the pipeline). .......................... *In February 2006, CEN were reported by Rescuer (Post 1848) in response to a question from him, to have stated: "Estimated peak sales of £200m (pa) would represent a 30% share of the approximately US$1 billion market for post-operative pain. We believe that this is not an unreasonable assumption if M6G delivers the target product profile, namely, equivalent analgesia to morphine but with less side effects than morphine". .................................................................................. QAZWSX123 - 10 Mar'06 - 14:07 - 1986 of 1995 edit 1Leigh (Post 1985) there is nothing in the above article that suggests CEN would have "trouble getting M6G approved" as you say, or reason to expect anythng other than it will meet its final PIII trial endpoints. Infact, M6G has already passed one European PIII trial, which reported in January 2005. In addition, M6G should be launched onto the European market in 2007 and not 2008 (as the above article implies) if, as expected, it passes its final European PIII trial during 2006. ................................................................................... QAZWSX123 - 10 Mar'06 - 14:34 - 1989 of 1995 edit sharewizz (Post 1987) the comment "there is no guarantee the product will pass the trials" is one which could be applied to any drug; and did not even include reasons in this instance, so it really lacked meaningful substance imo. Most experienced biotech investors would take this as read and would make-up their own minds regarding risks. They would, for example, already know that CEN's lead drug M6G is arguably lower risk than most drugs, because it is late stage, it works, is apparently safe, there is a large amount of indirect evidence that it appears to have a better side effects profile than conventional morphine, and it has already successfully completed one PIII trial (reported January 2005). Infact, it is probably already marketable in some respects (although obviously not yet approved). The current PIII trial just takes things a bit further, to help distinguish it from conventional morphine, i.e. it is a direct comparitor against conventional morphine. This is being undertaken in order to get a label stating something like "M6G may be more suitable for patients who could be at risk from, or known to be susceptible to, an adverse reaction from conventional morphine; including from respiratory depression, nausia and vomiting". (In addition, the EU regulators place more emphasis on comparitor studies than the US regulators). So it is now just a matter of whether M6G can demonstrate a better side effects profile than morphine in a direct head-to-head study (the current PIII trial) to enable M6G to get a better label. However, even if it failed to do so, M6G would still probably be useable "off-label" at clinicians discretion, in instances where they considered it could be of help imo. ................................................................................... QAZWSX123 - 10 Mar'06 - 14:58 - 1992 of 1995 edit sharewizz (Post 1991) conventional morphine is not patentable (infact, it was first isolated during the early nineteenth century) so it is a molecule anyone can use. However, there are international legal provisions that guarantee post-launch, CEN's morphine derivitive M6G will be assurred a mimimum of 10 years exclusivity in Europe, 7 years in Japan (I think) and 5 years in the US. Running concurrently and beyond that, CEN have protection for the manufacturing route (the only thing which is patentable) which should prove difficult to copy and a considerable hinderence to generics. ................................................................................... QAZWSX123 - 10 Mar'06 - 19:25 - 1996 of 1996 edit Worth rereading two of the questions and answers regarding M6G, asked by Rescuer to CEN, and posted here by him on 6th February 2006 (Post 1848) as follows: Q) What is your intended market penetration? A) Estimated peak sales of £200m (pa) would represent a 30% share of the approximately US$1 billion market for post-operative pain. We believe that this is not an unreasonable assumption if M6G delivers the target product profile, namely, equivalent analgesia to morphine but with less side effects than morphine. Q) Double blind placebo are significant but this seems to be uncompleted? A) The first Phase III (M6G015) was a dose ranging study that showed a statistically significant reduction in morphine consumption between the M6G 30mg/70kg dosage and placebo. The second Phase III study (M6G022) is currently recruiting patients and is anticipated to complete recruitment during the summer of 2006. M6G022 will provide a direct comparison of M6G and morphine over a period of at least 24 hours. .................................................................................... QAZWSX123 - 30 Mar'06 - 14:06 - 2099 of 2112 edit Potential Sales and Launch Dates for CEN's Drugs 1) M6G, £200m pa (European PIII results due mid 2006, launch 2007). 2) CNS 5161, £400m pa (launch 2009). 3) CNS 7056, £200m to £400m pa (launch 2009). 4) Comt Inhibitor, £200m pa (launch 2012). (Source: CeNeS presentation, June 2005) Other Carried Interests CEN also have carried interests in several early stage assets held by a number of companies (e.g. Xention Discovery, Addex Pharmaceuticals and Acorda Therapeutics) arising from a restructuring during 2002; from which they have received milestone payments and that may deliver further value (including sales royalties) in future. Xention Discovery: Addex Pharmaceuticals: Acorda Therapeutics:
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