Eden Research Share Discussion Threads

[weyweyumfozo] 18/9/2019 09:56

"Revenue for the first half of the year was GBP0.58m compared to GBP0.68m for the same period in 2018."

"Although product sales were GBP0.23m less than in 2018, this reflected GBP0.3m expected in June that was recognised in July, due to a change of production schedule."

If the GBP0.3m expected in June had arrived in June, would that have meant a 29% rise in revenue?


"In the first half of 2019, TerpeneTech made the first sale of its headlice treatment product to its channel distribution partner. This product was shipped in bulk and has been labelled and packaged by their partner. This channel partner is now actively promoting the product to retailers across the UK. A comprehensive marketing campaign is planned in order to support retail promotion.

TerpeneTech continues efforts to secure new channel distribution partners for other key territories across Europe and also the United States. TerpeneTech believes that these efforts will be greatly aided by the first retail launches of the headlice treatment product in the UK. Therefore, TerpeneTech anticipates an acceleration of progress in Europe and the US as the UK product makes commercial progress."

So, TerpeneTech have actually sold some of its headlice treatment product, and it's been labelled and packaged. We are just waiting for the channel partner to get it into the shops.

[attyg] 18/9/2019 08:22

Yes, sales disappointing, however, the GP is more like it - 57% is good stuff.

[investingisatrickygame] 18/9/2019 07:55

From post 6900

"All of this focus on the future should be focused on the present. We, as shareholders, have been focused on the future for years. For how many more years are we going to say, the trend is from pesticides to biopesticides, when Eden gets in profit, let's wait and see what the interims say, let's wait and see what the full year-end figures are etc, etc, etc."

The interims say very little. Sales down to £450,000, a year's cash left, the Chairman's says that the Company's growth prospects are 'steadily improving' and that we 'should see the Company build into a global player in the biopesticides industry in the medium term.

Steady as she goes, let's wait another 6 months for another inspiring update.

Why would you buy shares in Eden now?
What is the medium term?
What are the internal exciting developments that is going to transform Eden from a tin pot, half a million turnover Plc into a global player in their field?
Why does management continue to pay itself so much money per annum and more than 6 months income into the business?
Why is management pleased with revenue progress?
End of year sales note cautionary to late season conditions (weather)
Finally mentions organic and mentions further differentiators without explaining what they are!
Usual TT and Bayer commentary
It's all about crop protection
Looking to accelerate commercialisation. Well they are coming from a very low base for a Plc so they should be looking at this.

Eden looks to me what it is. A minnow travelling very slowly with overpaid executives relative to corporate income, paying themselves on the journey, but the destination is so far away. So may explanations for poor/low income performance around slow regulatory approval.

All Eden has done is to dampen their image and the reasons why people should invest. They seem totally incapable of creating then building investor confidence in a company that has global prospects in a global market, crop protection, with leading technology to deliver the same and appeal to competitors whose products need to stay on market and perform equally or better to now, whilst adhering to new regulatory rules reflecting customer concerns.

It shouldn't be a hard proposition to sell to investors, but if anyone can supress appetite, Eden can.

[dplewis1] 18/9/2019 07:46

Just had a peek at those even though I sold out last week. I've not got fomo that's for sure!

[grahamg8] 18/9/2019 07:44

Jam tomorrow. I've held shares for six years now and the share price has been going sideways. Occasional trading the peaks and troughs. This is a conviction buy because you believe in protection of the environment. Not an investment to make any money from.

[northwick] 18/9/2019 07:21

1/2 Yearly results are out. Not in there to get excited about.

[supersonico] 17/9/2019 12:43

Alexander Wong@AlexWongScience PhD student Oregon State University Botany Plant Pathology. M.S. Virginia Tech. B.S. University of Pittsburgh.

Rainy weather, 18-20C days and powdery mildew scarring on grapes leads to very happy Botrytis


……………………………..

Public consultation: cumulative risk assessment of pesticides.

EFSA is carrying out a public consultation on its pilot assessments of the risks posed to humans by residues of multiple pesticides in food.

Interested parties have until 15 November to submit comments on two assessments: one considers chronic effects on the thyroid system and the other looks at acute effects on the nervous system.
The draft assessments are the culmination of a multi-year collaboration between EFSA and the National Institute for Public Health and the Environment for the Netherlands (RIVM).
The overall draft conclusion for both assessments is that consumer risk from dietary cumulative exposure is below the threshold that triggers regulatory action for all the population groups covered.

[investingisatrickygame] 16/9/2019 21:27

Shame it's in a barrel and not a pistol :) :) :)

[brucie5] 16/9/2019 21:07

Most helpful. So a bit of silver bullet then. If only they can get it loaded up.

[supersonico] 16/9/2019 20:59

Luckily for us WAN intuitively anticipated this query :) but it does not explain why he has not bought up it's loss from the Crop protection vertical..

wan - 16 Feb 2019 - 06:04:41 - 282 of 638
Eden Research; novel encapsulation and delivery technologies - EDEN
Eden's latest Company Factsheet is also worth reading/referencing -



To clarify one specific item, “G3Yâ€A533; is the designation for a certain combination of active ingredients, and the code is used to describe several potential products, which I understand also includes a molluscicide.

Eden is currently working on product development efforts across a range of product categories, so hopefully we will get a bit more detail in this regard too.

[investingisatrickygame] 16/9/2019 19:59

G3Y in development since 2016, now the back-end of 2019. Anything new is years away from a positive impact on the share price.

[brucie5] 16/9/2019 19:55

You can see from 2016 that The Molluscicide was in development pipeline and described as
G3Y: Molluscicide and the Insecticide as White fly, spider mites.
--------------------------------------------
Is G3y the same formulation for both applications, then, slugs + insects?

[supersonico] 16/9/2019 16:37

I expect it to be Bayer.

Insecticide / Molluscicide (I'm assuming as the 'number of products') are described below as 'in advance stages' (you decide if that includes our now lost Molluscicide) are big but SustainE collaborators commercial value is bigger according to Short order Back to School Lykele

CHAIRMAN’S REPORT For the year ended 31 December 2018

'Whilst the financial results for 2018 are again pleasing, there is a lot of upside potential which the Company aims to realise. There are a number of products, in addition to Mevalone and Cedroz which Eden is in the advanced stages of developing. The new products in the Company’s pipeline aim to address markets which are potentially bigger than those already covered by its existing products and are creating a healthy pipeline of growth opportunities for Eden.
There is potential for an even greater opportunity around the use of Eden’s proprietary, natural micro-encapsulation technology, Sustaine™, which is being tested by a number of third parties, including some of the major agchem companies'


………………………….

You can see from 2016 that The Molluscicide was in development pipeline and described as
G3Y: Molluscicide and the Insecticide as White fly, spider mites.



The Keen observer will note (6/52) how much has been lost since then down the back of the couch ..so the Molluscicide will be in good company. Who ever bought that couch will feel jolly content with themselves..no doubt.
……………………….
In 2014..we were told
'Eden is working with several potential partners to exploit early stage leads identified for the control of insect pests, such as Whitefly and Spider mites together with fungicidal applications to minimise post-harvest losses from spoilage organisms. Since the approval of its core three active substances, there have been renewed discussions with various parties to license these rights'

..and you might conclude looking at the comments in the context of the report that these interested parties may not have been Sumitomo or if they did it may also have included more than Sumitomo.

Which is why I expect Bayer to be involved in this Web and why we have Lykele the Bayer-Link-Man

[brucie5] 16/9/2019 16:07

Ok thanks. But the insecticide is the big one. Do we expect sipcam to be taking this on?

[supersonico] 16/9/2019 14:32

Brucie5.

It was listed as In development for years but dropped of the list so either it's been developed and sitting in NDA limbo ready for launch or it's joined the Insecticide as a combo.

My guess is.. NDA limbo.

And when I say guess I mean I've got some loose evidence to corroborate that guess.

But it's still a wild guess but my hunch is that a Molluscicide launch is nearer than SustainE collaborator news.

[brucie5] 16/9/2019 14:16

How advanced is the molluscicide? I understood from the cenkos note that the insecticide needs a second season of trials..

[supersonico] 16/9/2019 13:53

Investing,

Of course it's frustrating and to say we have no idea is true as well but there are many Clues out there to collate and mull over if you choose to seek them out.

With a little imagination It can be a rewarding pursuit and will indicate more than Sean Smith will ever divulge.

I have to disagree with you on the NDA's..I believe 5/6 years of Bayer 2013 NDA's is likely. That's why Eden needs the Ehrmantraut Chorus to sing gently and persuasively, songs of wanting and seeing.

[investingisatrickygame] 16/9/2019 13:32

'Could', but we have no idea.

Why can we know that Sipcam is trialling 'Sustaine', but get not one update in 26/27 months. It's deplorable. Why RNS the same in the first place if you re not going to follow up with updates?

So if Eden keeps putting Bayer front and central on presentations then they need to qualify why. It's not for CAP; the latest Cenkos report dedicating some 5 lines on this subject tells us this.

So if Bayer is involved, like Sipcam, tell us and tell us what the nature of that engagement is. I like you and everyone else invested in Eden, did not invest to receive communications year after year that continuously says either A) We are not in control of x and so can't tell you and B) we are protected by NDA and cannot say anything. Five years of NDA'a with Bayer, seriously, that is not plausible, whatever Eden may say.

[supersonico] 16/9/2019 13:02

Investing,

So do you Buy that the Molluscicide , Insecticide and SustainE could involve Bayer?

[investingisatrickygame] 16/9/2019 12:49

Brucie5

No problem. I am not over dependent on Eden, but myself and a lot of people are very frustrated with Eden. The share price is undeniably out of sync with Company rhetoric, product reach, pending value (Cedroz). This has to be addressed by the Company and for their own benefit regardless of you and me.

Super

I don't buy that TT is related to Bayer. Time may prove me wrong, but I don't. Have you approached management in this respect by emailing Sean Smith to understand if the two parties are in any way related? This should bring an end to your conundrum.

it is also undeniable that Cenkos has not purchased stock and that doesn't align with their 'call-to-action' headline of 'Killing It'.

All I am saying is there are so many disparities in the Eden 'story', Eden's value (once valued in the future at 79p by SC, now 12p by Cenkos), that the market has not got a clue what Eden is, where it sits in the forward opportunity curve, what fair value is today (it isn't 10p, that's for sure), where the Company is in the development of Sustaine for stand-alone use and blended use and more.

What did 'short-order' mean and is that relevant to today?

How has Eden 'changed gears' because that is not apparent too?

If Eden is only one of a few globally with proven products and regulatory authorisation and given the industry trend, then why is the share price not reflecting this? We are told this is an $8.8 billion market by 2022, yet Eden's status with a few others only values them at £20 million. The opportunity and the current value do not marry up Are the other 'few' players already valued at many hundreds of millions and if so, why is Eden's value so lacking and so disconnected?

Eden's proven addressable market today is $1.2billion growing to $4 billion. You see, the valuation of today in no way matches their addressable market and the few players with bio-pesticide product and approval globally.

Forget other stuff. Take Eden at their own word and ask management why their share price is so shocking, so under-performing, so disconnected from their own market numbers.

Is Eden's potential target penetration in its addressable market so dire that £20 million in a current addressable market of $1.2 billion represents fair value?

If Eden, Cenkos, Powerscourt and you can all say yes to that question, I'll shut up. If not, then the share price needs to be addressed, as does the message and image of the Company, as does the Board of Directors.

[brucie5] 16/9/2019 12:15

Investing: With respect, and while I understand your impatience, there are 1. delays and then there is 2. the pain of waiting. The first is a function of whatever's going on in or around EDEN which is external to you; the second may be a function of not having other investments to be getting on with in the meantime. There are loads of good investment stories out there. I would strongly advise you not to be overly dependent on one of them.

Forgive me for saying so. Because I greatly value your expertise here.

[supersonico] 16/9/2019 10:30

Investing.

All delays imo are Short order Bayer related..SustainE / CAP / TT

[investingisatrickygame] 16/9/2019 10:01

Super,

Does the Bayer Animal Health Opportunity even exist anymore. Does Eden know the answer to that question? Cenkos gave no space and value to it whatsoever.

I'm assuming that TT and Bayer will amount to nothing (Head lice and CAP) The trend is against it, parallel delays yes, but linked by association I am not too sure.

If Eden fails to deliver on these two it will be and already is, damaging to their reputation. Credibility out the door after many, many years of saying it will be delivered when Cenkos confirms it is all outside their control. You simply cannot make such statements, in those circumstances and yet Bayer still is front and central on Eden presentations. I do hope that Bayer is in for Sustaine big time or something similar in order to bail Eden out.

Eden looks weak and vulnerable to me at the moment. No momentum, a new broker not buying their stock, share price flat having trended down, going against the trend of the market they operate in, reliant on a single product whose application is weather dependent, waiting for approvals on Cedroz, with none of this being factored in by Cenkos and with no update on Sustaine whatsoever which provides no impetus to the share price and no expectation in the market, yet it is apparently the one thing in their armoury which is an industry (crop protection) game-changer.

As a Plc with a share price as their mechanism to position and build their business, Eden needs to get its act together. There is no short-order and there doesn't seem to be much else, but the potential is there to see. The board needs help and someone who understands the city, share prices, their value, their leverage and someone who has an enthusiasm and ability to deliver on this point.

Eden is a minnow with no appeal at 10p. It is like a lily on the pond. Dead in the water and going nowhere.