Circassia Share Discussion Threads

[pro_s2009] 09/1/2020 07:45

Could be some soon, with the new boys on board who have joined of late. If not today, soon.

[gemlotte55] 09/1/2020 07:43

Director purchase today ?

[pro_s2009] 09/1/2020 07:42

Comment from Finncap.


Morning Note 9 January 2020

Circassia issued a positive trading update for the year to 31 December 2019, with revenues expected to be in the middle of its £60-65m guidance range and in line with our forecasts. Year-end cash was c.£11m higher than our expectations at £27m, due to working capital timing (delayed payment for Tudorza and Duaklir inventory and boosted by third-party rebates). Stripping out these timing effects, there was a modest H2 2019 cash outflow (we estimate to have been c.£5m), which nevertheless contrasts starkly with the £20m outflow in H1 and underpins our view that the business will be EBITDA positive in 2020. We reiterate our target price of 80p, which is supported by premium revenue growth (2-year CAGR of 30%), cash generation and deleveraging balance sheet

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[linton5] 09/1/2020 07:41

Interesting to see opening price after this update anything under 20 is having it,good luck all I’m on the button sipping my coffee perspiring profusely sweaty palms lol. Only joking docs to go to at 8 so hoping when I get back we are 40p

[pro_s2009] 09/1/2020 07:36

Excellent. Delivered as promised.

Tick box, tick box, tick box........

Should be good reading the broker update following this and their forecasts for H1 2020 and H2 2020 now.

[timmy11] 09/1/2020 07:12

Circassia Announces Business Update



Oxford, UK - 9 January 2020: Circassia Pharmaceuticals plc ("Circassia" or "the Company"; LSE: CIR), a specialty pharmaceutical company focused on respiratory disease, today announces a business update including a trading update for the year ended 31 December 2019.



Unaudited trading update

Circassia is pleased to announce that it expects revenues for the year to fall in the mid-range of its previously issued guidance of £60 million - £65 million, representing significant growth compared with the previous year (2018: £48.3 million). Circassia expects to report growth in both NIOX® and Tudorza® sales and a modest contribution from Duaklir®, which was launched at the end of October 2019. Additionally, cash, cash equivalents and short-term deposits were approximately £27 million at the year-end (31 December 2018: £40.7 million; 30 June 2019: £21.0 million). This is higher than anticipated, due in part to the timing of certain payments, including for Tudorza® and Duaklir® inventory, and third-party rebates. Without the beneficial impact of the timing of these payments the Company would have achieved a significant improvement in net cash flow in H2 2019 compared with H1 2019, with a modest net cash outflow during the second half of the year.



Chief Financial Officer

Circassia also announces that its Chief Financial Officer, Julien Cotta, is stepping down today following eight years in the role. He will be succeeded by Michael Roller, who joins the Company and Board today as an Executive Director and Chief Financial Officer. Michael is a highly experienced Finance Director and life sciences company Director having previously been Group Finance Director of Bioquell PLC and Corin Group PLC. He completed his training at KPMG and is a Chartered Accountant and member of the ICAEW. Michael graduated from Merton College, Oxford with a BA in History.



Ian Johnson, Circassia's Executive Chairman, said: "I would like to warmly welcome Michael to Circassia as our new CFO, and to thank Julien for his significant contribution to the Company over many years. Having worked with Michael previously at Bioquell, I look forward to renewing our partnership, as we work to build shareholder value and a profitable cash generative business."



Michael Roller, Circassia's incoming Chief Financial Officer, said: "I am delighted to join Circassia. I look forward to working with Ian and the whole team at this important time in the Company's development as we focus on achieving self-sustainability."

[pro_s2009] 09/1/2020 00:22

Depends on the overhang I think. If Invesco are still selling down then the company will likely hold off with the trading update to allow others to buy the Invesco stock cheaply and then release the trading update when Invesco are finished selling, or getting very low on stock left to move.

Management can easily consult their broker to get updates on the current offloading and loading up..........when deemed the best time the trading update will come out.

At the moment it seems that the trading update is still some weeks away, but you never know, could be anytime.

[74tom] 08/1/2020 21:22

For sure 100egs, and consider that it was at 49p pre FDA approval & burning cash at £20m per annum, a re-rate should see us back above that level.

The only thing that’s holding us back at present is Invesco selling their stake.

On 17/12 they had 13.85%, a total just shy of 52m shares. Since then we’ve had confirmation that Richard Griffiths has added 5m, Adams 2.4m, yesterday we had 1 x 1m purchase, today 2 x 1m + 2 x 500k. Given the values it’s clear this isn’t a PI accumulating, so again a fair chance of these being Invesco related trades. So it’s possible Invesco are down to just over 40m. Almost getting to the range where one II could take the lot.

Let’s hope the trading update is soon & the re-rate can begin in earnest!

[100egs] 08/1/2020 14:05

Trading update could land anytime now last year it was 4th jan when the share price was 49p
plenty of positives since then, we must be due a decent re rate from these levels

[m5] 08/1/2020 13:26

Well got in just before the break. I am excited for the progress this can make in 2020. Decent TU and we could see a significant re-rate here.

[timmy11] 08/1/2020 11:11

3x 1million shares bought

[pro_s2009] 08/1/2020 09:28

The funny trades are likely the finalisation of the overhang being cleared......then it will be ready to move up hard.

[mad foetus] 08/1/2020 09:03

Lots of funny trades today, could be ready to rumble

[pro_s2009] 07/1/2020 13:54

Overhang getting cleared......if we get a good trading update then we should be able to move up strongly from there.

[100egs] 07/1/2020 13:02

another 1m institutional buy by the look of it

[timmy11] 07/1/2020 12:59

1million just bought

[timmy11] 06/1/2020 23:00

The updated NIOX VERO device was unveiled at the European respiratory symposium (ERS), which took place in Madrid between September and October of 2019.

It has since gained CE certification for use in the European Union (EU), and is being introduced into NHS trusts in the UK.

Precipice Design and Circassia are now looking to launch the new model in the US and China.

[pro_s2009] 06/1/2020 01:51

Duaklir was launched in the US on 21st October.



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[pro_s2009] 06/1/2020 01:47

Ahead of an expected trading update soon, here is the highlights of the Interims and what to watch for in the trading update.

26 September 2019

Post-period update and outlook

Cash balance of £19.8 million at 31 August 2019 (£21.0 million at 30 June 2019)
Net cash outflow expected to dramatically reduce during H2 2019 compared to H1 2019
Key revenue drivers in place (NIOX® direct sales in China; Duaklir® launch imminent; Tudorza® full control; LungFit PH3 (previously AirNOvent) launch planning)
Full year 2019 revenue expectation £60 million – £65 million
Focus on cost control to achieve positive EBITDA on approximately £75 million net annual sales
AstraZeneca five-year loan draw down to address outstanding transaction-related consideration

NIOX® progress

Sales increased 32% to £18.5 million (H1 2018 CER4: £14.0 million) and 40% compared with H2 2018 (CER £13.2 million)
Clinical (non-research5) revenues increased 38% compared with H1 2018 CER
US and China sales increased 10% and 193% respectively vs H1 2018 CER
Italy direct sales team launched September 2019

Tudorza® progress

Revenues £9.3 million (H1 2018 CER: £14.4 million following release of accrued rebates); revenues 43% higher than H2 2018 CER (£6.5 million)
Product licence transferred to Circassia at end of June 2019 providing additional commercial flexibility; distribution, pricing and market access strategies introduced to drive net revenue growth
Rebates significantly reduced in first two months of H2 2019 and revenues increased 61% to £5.0 million vs H1 2019 two-month average
Exacerbation reduction and cardiovascular safety data added to label

Duaklir® progress

NDA approved March 2019
Launch preparations complete; launch imminent

[74tom] 04/1/2020 19:56

Filtered, insane drivel - get a life!