Share Name Share Symbol Market Type Share ISIN Share Description
Eden LSE:EDEN London Ordinary Share GB0001646941 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 9.375p 9.25p 9.50p 9.375p 9.375p 9.375p 47,000 07:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 0.4 -1.9 -1.0 - 19.41

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Date Time Title Posts
16/11/201719:03Eden Research2,911
07/3/201713:47Eden Research- The Natural Solution172
27/2/201611:20Eden Research- The Natural Solution3
18/5/201201:24Eden Research6
17/5/201215:00The sterile garden of Eden118

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Eden Daily Update: Eden is listed in the Pharmaceuticals & Biotechnology sector of the London Stock Exchange with ticker EDEN. The last closing price for Eden was 9.38p.
Eden has a 4 week average price of 9p and a 12 week average price of 9p.
The 1 year high share price is 15.63p while the 1 year low share price is currently 9p.
There are currently 207,064,337 shares in issue and the average daily traded volume is 90,890 shares. The market capitalisation of Eden is £19,412,281.59.
investingisatrickygame: Adding to that commentary, Eden share price is down 3.7% today on volume of around 400,000 shares versus shares in issue of 207 million. So one fifth of one per cent of the shares in issue have been traded. That indicates to me that no one has a reason to buy and very few wish to sell at such a low level. The result is no motivation in the stock. The longer that continues the harder it is to create and with any decent upward spike a raft of sales will occur with investors feeling relieved that they got out the right side of break even.
investingisatrickygame: I think the reality though is that there are currently two "markets". Private investors who are risk happy or risk adverse and then the other market is the "City", the institutional investors. The latter doesn't appear to be giving Eden much credit and maybe they will AttyG when Eden hits + P and L and good cashflows for a full year. So I would argue, that half of the market is not listening or has listened and needs more convincing. If the above is a correct assumption then the market for the foreseeable future is private investors. It is this market that needs to understand the current value and achievements of Eden so that they can price the shares correctly. To do this, they need Eden to educate them to enable them to price the shares correctly. Without doing so there is no market in Eden's shares and the stock becomes both illiquid and near static in price. The slightest transaction creates unrealistic movement in the share price. I would argue that this is exactly where Eden is right now and this cannot be good for Eden, its City facing image and its shareholders. The only people with the power to create change is the Eden BoD and they need to recognise in themselves both the power and the responsibility they have to give the shares a chance of being priced correctly. Relying on the City at this stage is likely futile and it is typical behaviour of AIM Company representatives who prefer to be City facing rather than market facing. I'm sure the NOMAD's have a role in this too. Markets are fluid and as such, the target audience changes over time with maturity and commercial success. Companies need to recognise and accept that what was the way to do things is not necessarily the same now with the power of business and social media and with more individuals taking responsibility for their capital's growth, both private monies and SIPP funds too. Companies that recognise and accept this do, in my opinion, have a greater chance of share price success with the inevitable move into market two, the institutions. There are certainly examples to support this.
attyg: It is disappointing to see the share price at such low values. This company has achieved such a lot and is on the threshold of the beginnings of commercial success and yet is valued at a negligible amount. Unfortunately, the financial markets have placed little value on Eden's achievements and in all probability will only do so once it comes through the P&L and Cash Flow. Yet when one takes stock of where Eden is with 3AEY - now an important product for Sipcam and Sumi in many countries and for a variety of uses; the expectation that finally TT will launch an approved head lice treatment in Q1 2018; that Bayer are expected to commercially launch more than one animal product in Q1 2018; that Eastman are progressing the regulatory approvals for Cedroz in almost 30 countries (surely one or more country will give Eastman approval to launch during 2018, otherwise 2019); trials ongoing with co-encapsulation - a technology that has numerous applications for a variety of industries. Anyhow, Eden has not been knocked back regarding any of the various income "irons in the fire". They will deliver, and while it is still of question of when for co-encapsulation, visibility is coming through on the other major areas. When the market does take notice, it would not surprise me to see the share price pop north at a great pace.
investingisatrickygame: littlealbatross2 "Would anybody care to suggest what a fair take out price might" Who knows, but you have to assume that Eden is extremely cheap at £21 million purely based on the often quoted cost and time (usually $200 million and 10 years) to develop and bring a new pesticide to market . Here is an example at £140 million and 10 years hxxp:// And here is the reason why Eden could be valuable on 3 AEY alone hxxp:// Encapsulation, Bayer and Eastman are just a few areas to add potential material value. Sipcam has already confirmed that they are working with Eden to develop new products and co-encapsulation to assist existing products and keep them on patent will likely appeal to the majors in this industry. So these numbers should provide a starting point to try and understand the potential appeal and value of Eden to an industry player. What Eden needs to do is sing from the same hymn sheet and communicate this message to a wider investment audience and get money going into its share price. Eden would not be off message or out of sync to have investors understand this timeline and cost to others.
investingisatrickygame: Well maybe the Chairman in waiting is Bayer's man going forward. Let us hope so. Some existing shareholders keep selling, so hence pressure on the price in a somewhat thin market. As for education, I think it needs doing regardless of how long people have been invested, You only have to sit round the table with investors to realise people have a different understanding of a whole set of circumstances. That comes across on these and other BB's too, with any stock. This circumstance is always the same. This "education" will serve its purpose in that way to correct misunderstandings and firm up existing shareholders enthusiasm for Eden. Hopefully, this stops selling at certain price points and may even encourage some new investment from existing holders, where funds permit. However, I believe it is important to be done and to start the story from the beginning, right up to where we are now. Why? Well there is this huge pool of non-invested investors and they know nothing about Eden, hence they have no motivation or understanding of why they should buy. This is where the power of investor communications which the Company can control as opposed to PR which they and their advisers cannot control, will come into play and reward the Company and its associated share price. Visuals are always much stronger than the written word. Film and video on the internet is growing at a rapid rate and has done for some while. The board needs to get themselves "in front of investors" in exactly the same way they would do with institutions. Can you imagine Eden delivering the investment case to institutions simply in the form of an RNS? No! They would go there in person, make their presentation, receive and answer questions and sell themselves as the right management team too. Well PI's need the same assurances. Go on film personally, make yourself known to your invested and potential investment audience, make the investment case through telling the story properly and thus you then have people wanting to buy your share price, they buy into you (as a management team) and hey presto, your share price rises. Moreso, those investing will forward that film to friends, family, colleagues and more. It is perfect word of mouth and the story stays consistent and from the horses mouth, without third part interpretation, thus the story stays as fact and as management intended.
investingisatrickygame: supersonico "So for me the investment case is easy and clear" For you and me maybe, but investors generally it is not. The primary reason for this in my opinion, is Eden continues to resist introducing and yes, selling Eden to a wider private investor audience. Given all that you mention, they most certainly should be. There is no reason or restriction as to why they cannot. There is little danger of the share price getting ahead of itself if Eden were to embark on such an effort as the share price is so low. So who is giving Eden bad advice in this respect and why are Eden listening? You have to assume it lies at the door of Shore Capital and they are totally detached from Private Investors and do not engage with them. So, they are not the best placed people to advise on the same. "My question I have is why have Eastman , Bayer , Sipcam , Sumi-agro not bought us out? Eastman and Bayer are serial buyout merchants so why is Eden still independent??" Good question, but maybe that question could be delayed for another 3-4 months when Bayer is expected to be a customer. I personally don't believe, based on the current share register, that they could resist an unwanted bid or a lowly bid. All the more reason to go on the communication offensive and ensure the Company and its prospects and prospective value is well understood. Thus the price will rise and were a bid to come in it will then be at a higher price. "Does the licencing of different applications deter a Take over..any thoughts??" I believe this is a great reason to put in a cheap offer for Eden now, likely accepted by the majority of PI's which would swing the vote. The benefit of these other applications to any would be buyer e.g. Sipcam, is that they could then spin off everything outside of 3AEY and get their original purchase price of Eden back and likely a profit too. In other words whether it were Sipcam, Eastman or Bayer in the scenario you propose, they end up owning outright that part of Eden's business that they require. Relevant personnel and external partnerships then stay in place to maximise the new owners exit on the other patented offerings. Eden staying below the radar and they are well under the radar in real terms, makes them vulnerable. Eden going above the radar will increase their market cap (if done properly) and thus protect their perceived value and subsequent value for shareholders. It will be a crying shame and a farce if a cheap bid comes in and Eden go on the front foot trying to defend the unwanted bid having done nothing to educate and protect shareholders in all the time leading up to that point, including protecting the Company from the same.
investingisatrickygame: Eden has clearly gone commercial and in what we hope is a successful and profitable way. With Sipcam SpA being a major distributor in this sector and product creator, their chosen alliance and investment in Eden with a clause that restricts the selling of their shares for 3 years is a welcome one. Equally, so too will be their board appointment. This all adds commercial weight and gravitas to Eden's development and is very welcome. Eden has clearly developed a niche in both its slow release system and with its management of volatile terpenes, natures own defence mechanism. In fact, the very nature of controlling volatility to enable a product to work defensively against disease is a very creative one and one that evidently the majors hadn't thought to do or were unable to do. Patent protection will now secure Eden's ability to deliver revenue through commercial agreements that should deliver substantial profits. This is one side of Eden Research Plc's business, one collective product area and although some feel it has been slow, it is now here, it is real and management definitely deserve credit for delivering the same. Successful sales of 3AEY now rest, predominately with Sipcam SpA and Sumi-Agro France. In effect this should be a collective effort, one would assume, given their relationship to Sumitomo, whom I assume, are also keeping a keen eye on developments. I imagine they will be looking at Sipcam SpA to monitor how the collaborative elements of the arrangement unfold in regards to new product development, expansive use of Eden's Sustaine technology and extended patent life of existing SpA pesticides. I wouldn't mind betting that internally, they also have a value attached to the same which easily outweighs their £2 million stock investment in Eden. They will also see additional value back to them through an increase in Eden's market capitalisation. What I now hope to see is Eden and Sipcam manage their other product in their portfolio, namely their share price. Given its volatile nature, one could easily draw a line to the management of terpenes to create an easy understanding for the need to reduce negative volatility in their share price. The share price may arguably be stable now, but it is stable at a very low price, to the negative if you will. Some simple time and strategies to complement their operational product areas will be very welcome, especially now that they have some breathing space to do the same with 3AEY over the line and funds in the bank and on the way. Successfully delivering 3AEY gives Eden breathing space to now move on to other product developments, other commercial arrangements and more (notwithstanding Eden wants 3AEY registered in other countries around the globe). If Eden and Sipcam could successfully manage Eden's share price to fair value today, it would be for the benefit of both parties, reward institutional and retail shareholders who will no doubt feel more confident in spreading the word, whilst not necessarily selling up given the greater confidence and visibility they would then have. If they can manage volatile terpenes, I'm confident with all that they have to offer that they can manage a volatile share price. It is after all, one of the fundamental reasons that they, along with others, became a listed Plc.
the prophet: Beautiful day here and a delight to read the Eden thread without the puerile rubbish on the old one. Here is a good over-view of the Shore Capital note from the Michael Walters site. This is a free article, btw, so I'm it's ok for me to post it, with due recognition. Eden - Worth More, or Much More? - (EDEN) 30/11/15 (119264) Let's face it. None of us knows what Eden Research (EDEN) is really worth, no matter how long we have been watching, wishing, and hoping. When the issued capital was much smaller, ages ago, some of us paid many times the current price of 16.25p (up 1p) today. There are still hopes that we could see those levels, and more, again - but lending logic to that set of sums has always been elusive. The latest, and much the most convincing, attempt to add substance to the dreams comes from new house broker Shore Capital, which has a highly-rated research team in the small company/ food producers area. Signed by analyst Phil Carroll, written with the shares at 15p, this suggests a fair value of 22.5p, backed by a full revenue potential analysis citing fair value at 79p by projecting revenues out to 2019 then discounting. So we have the usual analytical guesswork which sticks a finger into a range of options, and pulls out a nice number. Peer more closely at the assumptions, and you arrive at anything between 63p and 16p (Shore chooses a conservative 22p) on the 'core' Eden business depending on whether you use a discount rate of 8% or 14% and a terminal growth rate of 1% of 4%. Apply the same discount and growth boundaries to the 'full revenue potential', and you come up with anything between 58p and 223p. Shore picks a cautious 79p. Do not assume that pointing to the vast variables in the Shore valuation method is a criticism. It is not. But it is worth emphasising that we are not talking absolutes here. We have a broker doing what brokers do, and attempting to give some measure of what Eden might be worth. We should be grateful for that, especially since predicting what might happen with Eden (or, rather, when it might happen) has never been easy. Rather than attempt to wade through full 31 pages of the Shore report, it is sensible here to assume that subscribers already know the basic Eden story pretty well - it is developing a series of benign products based on using combinations of three natural terpenes, applied via a patented system of encapsulating them in yeast particles which effectively spreads the delivery time when they are sprayed. There have been long delays getting them through the regulatory system, but the first approvals are in. The most immediate applications are in agri-chem, with a vast range of other possible uses, including animal and human healthcare, food ingredients, cosmetics and home and garden products. Five products are in various stages of development, led by 3AEY, which is about to start sales as a fungicide targeting botrytis, a disease which badly damages grapes. Then there is B2Y, a nematicide targeting soil pests and being evaluated by global giant Eastman (option until next March), 2EY, tackling powdery mildew, and GO-E, the encapsulation technology. Shore expects approval for 3AEY from remaining southern EU states either before the year-end or early in 2016, allowing sales in the next growing season. Companies associated with Japanese giant Sumitomo are partners with Eden to sell in the key grape-growing countries of Italy, Spain and France, and one of them (Sipcam) is evaluating two new products - 2EY (to treat powdery mildew) and 1EY (for apple scab). The other Sumitomo company also has rights to develop other Eden plant protection products. In Kenya, at last Lachlan has approval to sell 3AEY. Eden estimates the market for botryticides like 3AEY is $300m a year. B2Y, the nematicide being evaluated by Eastman and about to undergo the registration process adresses an estimated market worth $1.3bn a year (Eastman's market leader nematicide Metam is under significant pressure, says Shore). The powdery mildew product B2Y, going through registration and backed by a Sumitomo company, tackles a market worth about $750m a year, with particularly high value in Africa. There is a pipeline of other earlier stage products, including 1EY. The broker suggests Eden has a significantly reduced risk profile now that 3AEY has reached commercial sales, and other approvals will trigger milestone payments, helping Eden move into profitability in 2016, a major positive for a biotech company. The business model has significant leverage potential, with further deal potential with other companies in the global Sumitomo network. The same applies to the current option deal with Eastman, and Eden can licence GO-E encapsulation technology for use in industries outside agri-chem. It is currently licenced for head lice treatment with TerpeneTech and with Bayer in flea, tick and shampoo animal health products. Disappointingly, the broker does not expect volume Bayer sales to begin until 2017, with some early initial sales in 2016. Intriguingly, looking at GO-E, the broker uses the example cited in earlier Eden material. That points to Trifloxystrobin, one of Bayer's best-selling agrochemicals at $400m a year. That is now off-patent, but as an example could be used with GO-E to add benefits and extend patent life if co-encapsulated. Eden has often touted the potential benefits of such co-encapsulation opportunities for extending the life of chemical products for major companies, but has yet to conclude a deal, and has never formally said there were talks on such a deal with Bayer - but it keeps coming up (we know Bayer moves at the pace of a constipated tortoise). The broker suggests that Bayer Cropscience could be a potential source of deals in the future. It all adds up, sort of, to a set of core revenue assumptions which the broker splits between current agreements and those under evaluation. Current goes from 2015 revenues of £710,000 to £680,000, then to £1.9m for 2017, £2.61m for 2018, and £3.33m for 2019. Deals under evaluation are reckoned to bring in revenue in 2015 of £21,000, rising to £990,000, then to £1.33m, £3.54m, and £5.6m for 2019. It is these core assumptions, discounted cash flow analysis applied, which support the 22.5p fair value estimate. Then we have the 'full revenue potential' model. That takes in the possible revenue streams based on products which are still being developed, such as 2EY for powdery mildew or the application of GO-E for use in animal health outside the USA. And they include products not licensed or under evaluation. This is heavily loaded with revenues from ag-chem in 2019, when they leap from £3.23m to £15.94m, and form the bulk of the projected revenues of £24.83m for 2019 (up from £11.16m). In turn, the vast bulk of these 2019 revenues - £13.78m - would be generated by products still under development. These assumptions are set against a background of an underlying costs base of £1m a year, growing at mid-single digits, so operational gearing is such that revenues quickly fall through to the bottom line with only modest deductions. Research and development spend is capitalised and then amortised through the income statement (£700,000 currently), and the broker assumes a continuing prudent approach to R & D which would allow the company to become self-sustaining on a cash basis by 2017. There are trading losses of £21m, taking out the charge for tax for a while, and the broker assumes any short term cash need would be satisfied by debt rather than equity. Free cash flow turns positive in 2017 on the core model, a year earlier on the full revenue potential basis. What else? The encapsulation process has opened up exciting opportunities in non-agricultural fields, such as medicine and dentistry, where the antimicrobial properties of terpenes can be effectively applied at controlled doses for wound healing and oral health applications. Eden is at an advanced stage in developing a series of competitive antimicrobial and invertebrate-control agents suitable for use in vineyards and greenhouse and on a variety of high value field crops. The potential for finding further applications of terpene formulations in agricultural and health care is 'vast and clearly exciting' says the broker. The collaboration and licence agreement with Intellectual Ventures protects existing patents, expands Eden's intellectual property portfolio, and using the strength of IV to provide new deal opportunities. IV has agreed to use its own capital to support Eden's objectives, and the deal should make Eden a more attractive potential partner to work with. The ag-chem market has seen a reasonable level of merger and acquisition activity in recent years, Shore says. Over the next decade, the use of biological solutions is set to record double-digit growth, and by 2030 could represent up to 10% of the global crop protection market. This is positive for Eden's prospects. Listing several deals, Shore points to Bayer's acquisition of Agraquest for Euros 340m (£230m) plus milestone payments in August 2012. Shore thinks Agraquest had revenue of $7m in 2012, so it is probably the most comparable company in the chosen deals to Eden. At 16.25p, Eden is capitalised at £26m. Shore says it could be a potential target in sector consolidation. That is a summary of the broker comments, and they point up the attractions of Eden to investors who may have been hanging on, grimly believing, while a tight financial position has brought risks galore to an otherwise enormously attractive proposition. Few shareholders would want to see Eden taken out by an early bid, given the modest share price in recent years. Medium to longer term, however, that is a clear prospect. The potential applications of terpenes, coupled with the encapsulation process, appear massively wide-ranging. The Shore note fills in some of the gaps, but must remain vague on just what might accrue from which deal. So far, the numbers have been small. But the markets Eden's products could be addressing are massive, and a big money partner could help move things fast. There is little mention in the report of opportunities in America, where the market must be vast. There appears to be general confidence that Eastman will go ahead and exercise the option next spring, pulling in a decent milestone payment, and covering some of the American opportunities. But the lack of comment about America, north and south, is surprising. Could there be big new opportunities there, and in the Far East, where Sumitomo is an obvious player. If anything, the Shore sweep of potential developments looks on the conservative side, which is where it should be. Eden itself remains constrained by a shortage of cash. It is debt free and ought to have cash in the bank after the recent TerpeneTech deal, while Lachlan will bring what will presumably be a modest milestone payment. No-one would, however, welcome a dilutive fund-raising at close to current prices. Hopefully the Shore note and marketing presence will help bring more institutional investors into Eden, perhaps reducing the volatility of the shares. The problem remains the glacial pace of regulatory approvals, despite the obvious environmental benefits of Eden's products. Even now, we are not completely clear of all of the red tape holding 3AEY back in Europe. Though the process ought to be somewhat faster for subsequent products, no-one can be sure of smooth and timely progress. As it has for so long, Eden still looks an excellent growth opportunity. No guarantees, but much of the risk has gone. Go for it. I have a holding in Eden Research.
redhill9: TW didn't trash Eden share price Agreed, but he tried to, and is still trying. I doubt if he's stupid enough to actually be short but he benefits from making provocative claims as this generates traffic through his website.
monet: TW didn't trash Eden share price, it was the selling of 3.3m shares by a EIS fund. The three year qualifying period for tax relief was up so had to sell.
Eden share price data is direct from the London Stock Exchange
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P:33 V: D:20171117 21:32:10