Share Name Share Symbol Market Type Share ISIN Share Description
Eden Research Plc LSE:EDEN London Ordinary Share GB0001646941 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.75 -4.29% 16.75 309,035 11:48:02
Bid Price Offer Price High Price Low Price Open Price
16.50 17.00 17.50 16.75 17.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 2.05 -1.48 -0.54 64
Last Trade Time Trade Type Trade Size Trade Price Currency
16:14:29 O 50,000 16.55 GBX

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Eden Research Daily Update: Eden Research Plc is listed in the Pharmaceuticals & Biotechnology sector of the London Stock Exchange with ticker EDEN. The last closing price for Eden Research was 17.50p.
Eden Research Plc has a 4 week average price of 13.25p and a 12 week average price of 7.25p.
The 1 year high share price is 20.50p while the 1 year low share price is currently 4.65p.
There are currently 380,340,229 shares in issue and the average daily traded volume is 310,354 shares. The market capitalisation of Eden Research Plc is £63,706,988.36.
spadeychops: Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in global crop protection, animal health and consumer products industries, provides the following unaudited trading update for the year ended 31 December 2020. Financials Revenue for the year is expected to be approximately £1.6m (2019: £2.0m) with a loss before tax and statutory operating loss of approximately £2.6m (2019: £1.4m). Product sales during the period were affected by the impact of the global pandemic on the hospitality industry which, in turn, affected wine grape production methods and, inevitably, the widespread use of crop protection products. In addition, regulatory processes around the world were impacted by wide-scale disruptions to the working practices of government agencies as a direct consequence of the pandemic. As a result, a number of product approvals which had been expected in the year, and which should have resulted in product sales, were delayed. The cash position at the year-end was £7.3m (2019: £0.5m), aided by a fundraise of £10.4 million (before expenses) in March 2020, which saw multiple new institutional investors joining the share register. This has provided Eden with the financial resources to invest in the development of its insecticide and seed treatment products. Corteva At the beginning of 2020, Eden signed a one-year exclusive Evaluation Agreement with Corteva. Corteva (NYSE: CTVA) is the fourth largest agriculture input company in the world and is a publicly traded, pure-play agriculture company created by the combination of DuPont Crop Protection, DuPont Pioneer seeds and Dow AgroSciences. This agreement allowed Corteva time to exclusively evaluate Eden's Sustaine® encapsulation technology and several formulations in specific seed treatment applications. If successful, it was anticipated that this would lead to Corteva being granted exclusive distribution rights, on terms to be negotiated, initially targeting several major crops, including broad acre crops. This process is currently moving forward, as expected, and the Company will provide an update as soon as practicable. This represents Eden's first collaborative development efforts in the area of seed treatments as well as the first disclosed collaboration with a global leader in agricultural inputs. Additionally, this is the most comprehensive work done by to date on major broad-acre crops using Eden's technologies. Development and Operations Development work continued largely as hoped during 2020, including on Eden's insecticide and seed treatment products. In addition, the Company continues to work with a number of parties to develop products that avoid polymer encapsulation using Eden's proprietary Sustaine® technology with third party active ingredients. In order to provide the flexibility and control to advance the Company's growth, Eden has invested in setting up its own laboratory facilities on site, alongside a new office. Relocating to the new site at Milton Park in Oxfordshire, one of Europe's leading science and technology communities, means that the Company is now able to undertake development work in-house for the first time, which allows increased flexibility, speed and efficiency. As well as moving to new laboratory facilities, the Eden team expanded in 2020 with the recruitment of the new team members who are already making valuable contributions to the expansion of Eden's capabilities and providing support to its existing and potential customers. Overheads associated with Eden's new in-house capabilities are partially offset by the Company's decreased reliance on external labs and contractors. Organic status During 2020, Eden announced that its three EU-registered active ingredients, geraniol, eugenol and thymol, have all been approved for use in organic farming, following inclusion in the EU's Organic Production Regulation. This opens up new commercial opportunities for the Company and is relevant to all products that utilise the Company's three EU-registered active ingredients. Following the allowance of Eden's active ingredients in organic agriculture, Eden's formulated products are now receiving approval for use on organic farms across a range of European countries. The performance of Eden's products coupled with the allowed uses in organic agriculture helps to further differentiate Eden's products and provides a strong competitive advantage in comparison with conventional synthetic pesticides. Sean Smith, Chief Executive Officer of Eden, said: "It has been an unprecedented year for businesses across the globe, and Eden has not been immune to the disruption caused by the COVID-19 pandemic. However, we are proud of the resilience we have demonstrated against this exceptional backdrop and the continued progress we have made in advancing our strategy and positioning Eden for growth in the rapidly growing biopesticides market. The financial year has seen us expand our footprint, both geographically and through new product development, supported by the successful fund raise delivered in March 2020. We were also delighted to be the first company to receive the London Stock Exchange's Green Economy Mark in January 2021. This recognises the role we are playing in supporting the transition to sustainable agriculture and highlights our credentials as an attractive 'green' investment opportunity on the London market."
supersonico: Carp Spouter ............................................. quazie12 - 07 May 2020 - 13:12:59 - 7670 of 7948 Eden Research - EDEN No I’m shocked you have not moved on SS. I do note that your evangelistic posting of everything Eden has waned into a more acerbic approach. Seriously the best thing might be finally admit your investment is unlikely to yield much. I did thAt and took the loss on the chin. Retail shareholders are not on the Boardââ‚;¬â„¢s list of priorities. Q12 .............. quazie12 - 07 May 2020 - 11:20:54 - 7668 of 7948 Eden Research - EDEN I no longer own any shares in this total dog company thankfully. Eden have successfully raised and squandered more equity (£43m) over the last 15 years than they have ever achieved in gross sales attributable to the IP and thats counting “grossâ€� sales not the royalties earned. Current crisis aside they still don’t have a business model attractive enough for investors hence 6p SP .............. quazie12 - 27 Jul 2020 - 12:37:11 - 7945 of 7948 Eden Research - EDEN Super I applaud your efforts in here but the market just ain’t listening, and I am not talking stockmarket. I sold my last few shares last week. Have finally thrown in the towel with this company. Good luck. You deserve more from this investment than this.
investingisatrickygame: I'm taken by a Shore Capital note from November 2015 showing a 5 year revenue forecast on Eden and the resulting associated share price forecast. At the time, Eden had 158 million shares in issue, was priced at 15p with a Mcap of £23.8 million. Within the Full Revenue Model it had revenue lines reflecting current agreements, under evaluation, under development & not licenced or under evaluation. Looking 5 years out to 2019 it had a forecast income of near £25 million and a share price target of 79p based on the Full Revenue Model. Anyone want to comment or play around with current numbers? 380 million shares in issue Corteva €40 million (up to) Insecticides €85 million (up to) Cedroz and Mevalone €330 million What else would go into a like 5 year forecast that we know and do not know about Another seed company deal? Sipcams evaluation and use of Sustaine (been evaluating for 3.5 years now) Elanco Animal Health What else is there that we do not know about Even with more shares in issue, it is easy to see that Eden should fly past 79p with successful approvals and conclusions to the above.
attyg: Investing, I think a number of PIs are bored and impatient. They have had enough of the "promised" potential and think there will be fireworks with other shares. The high (relative to recent history) share price possibly entices some to think of simply cashing in and moving on - possibly now with a small profit. I too am bored and impatient but am definitely holding. I am a simple person and have been a deluded bull for too many years. However, let's think through some things simply: The Corteva trial results have clearly been known for some months. Eden told us in October the trial results "are in line with expectations" Eden also told us in October the agreement with Corteva has "significant upside potential" Sustaine is micro plastic free and Eden tells us that there are no other known product delivery mechanisms that are micro plastic free. Sustaine has been classified as organic. Had Corteva not wanted to reach an agreement with Eden, then they would have simply said so - it doesn't take long to conclude that you do not want to pursue a course of action; the claimed benefits of Eden's IP have or have not met expectations; the germination, yields etc are or are not as "expected". Had they Eden been told that Corteva are no longer interested - then they would have had to issue an RNS to that effect. If Eden has not picked up the phone to Corteva to establish if they want to move forward, then they will doubtless all have to fall on their swords. No, a much more logical outcome is that there are ongoing discussions. About what? Well, it must surely involve matters other than the two crops or formulations in a few (albeit large, but by no means the largest) territories in the world. There would have been outline Heads of Terms agreed at the outset. One simply does not enter into an exclusive one year evaluation agreement without an idea of how to move it forward commercially. So, we come back to Eden's comments: "in line with expectations" and "significant upside potential" And then we wonder, what can they be talking about? Well, we then come back to - no other known plastic free delivery method, organic. And then there was talk of Eden developing insecticides - with whom? Perhaps just themselves. Anyhow, I am sure Corteva have a lot to talk to Eden about.
attyg: When Northwick wrote in his 8676 post that one of his contacts, with whom he regularly talks, suggested the share price could pass £2 on the Corteva news alone, I, and I am sure most readers, thought that fanciful. However, if one takes the BoD statement from the Interim Presentation: Opportunity for up to €40 million of revenue in a limited number of geographies, with significant upside potential. The figure of €40 million revenue has been mentioned on a number of occasions - with NOMAD approval. As has the statement from the BoD that there is significant upside potential with Corteva. Well, there has to be, hasn't there? The evaluation agreement covers a few territories and for a limited number of crops and Cenkos noted that Corteva generated ~$14bn revenue from its Seed and Crop protection business and that their seed business is second only to Bayer. So plenty upside. Also plenty "delay" in concluding the deal between Eden and Corteva! So, let's just say the eventual deal has scope to generate £100m of revenues to Eden with a GP of 40% (in line with the GP margins mentioned throughout by Cenkos). Assume Eden's other products cover all the admin costs, thus the GP drops to the bottom line. PBT of £40m with a PE of 10 gives Eden a share price of £1 PBT of £40m with a PE of 20 gives Eden a share price of £2 With a fast growing company with loads more potential than just a few sales to Corteva, a PE of more like 30 will be applicable. I acknowledge life is not so simple and there are many other factors at play, however, sometimes keeping it simple is helpful. So, we may need to leave a bit of space for that Harrier Jump jet.
investingisatrickygame: It is difficult. AIM by its very nature equals risk. Such risk prevents some from investing. AIM offers potential for significant capital growth (as we hope with Eden) and also significant capital losses. So the older and hopefully, wiser you get, you pick your investments more carefully. Super, is right, Eden has never delivered. Speak to those who have been here for 10/15+ years. However, Eden with Corteva marks an inflection point for the Company and for investors. Up to £35 million pa versus currently (circa) annual turnover of£2 million pa. How many companies offer the possibility to multiply their income 20 times on one deal? Not many. Eden has mentioned the 'up to €40 million' many times now. It seems likely therefore, that this can be taken very seriously. This deal will put Eden on the radar of and allow other institutions to invest in Eden. That combined with Eden's 'green' status should also bring in specialist green funds and so as well as the deal increasing the share price. it should be further underpinned by buying from these other funds. We wait with anticipation.
attyg: While we try to avoid the weighing scales and forget any silly New Year resolutions, most shareholders are also looking forward to an update from Eden, especially regarding Corteva. I am not discouraged at all by the silence. Firstly, it means Corteva are negotiating with Eden, for otherwise Eden would have been obliged to issue an RNS stating that Corteva will not be exercising their option. Secondly, if you are a significant player in the seed treatment business (as Corteva are with revenues of £20b slide 25), then they would be very careful indeed in making a decision to use Eden’s technology, for such a decision is not going to be an acceptance of using Eden’s IP on one or two seeds for a few territories. This will be a major decision for Corteva as they will effectively be endorsing Eden’s IP as their platform seed treatment for the future. A few extracts from recent Eden communications (my underlining – though not sure if it will show up): Corteva agreement Opportunity for up to €40 million of revenue in a limited number of geographies, with significant upside potential From Interim presentation in Oct 2020 We are also exploring additional opportunities with Corteva, and in seed treatments more widely, which we are pursuing both alone and in partnership. AGM Q&A June2020 Eden is exploring additional uses of its product in seed treatment because each treatment, which is a coating for seeds, is made up of different components. Each seed coating is developed with different ingredients that perform different functions to advance growth and fight diseases and pests; ultimately giving each seed the best chance of thriving. The Corteva Agreement highlights that Eden’s formulations based upon Sustaine have the ability to play an important functional role in seed treatment products. There are many components of seed treatment where our technology can be used to fight fungal disease and control insects and other pests, so we expect the scope of the technology to widen as we continue our evaluations AGM Q&A June2020 Updates to follow before Q2 2021 From Interim presentation in Oct 2020 So the Corteva tie up will be massive for Eden and to shareholders. Never mind Intel inside, it will be sustaine outside. It is not unreasonable to expect a GP of 40% from sales to Corteva. My share price projections make me think of the Harrier Jump Jet.
investingisatrickygame: Brucie5 It is a very exciting time right now for Eden investors. We have had some busy share buying days this last few weeks, but I hope that will pale into insignificance when the deal is announced. How can it not? The 2020 Interim Results Presentation really is very good and as a by-product, very easy and appealing on the eye. From this report, its shows H1 revenue of £770,000 On Corteva alone, we are targeting £35 million p.a. an increase of 45 times!!! Just consider that. What if regulatory approval comes through for pending Cedroz and Mevalone applications this year? This market is €320 million (some £288 million) p.a according to the placing RNS (See appendix) So from the known pending approvals (RNS'd and Corteva numbers RNS'd), Eden is talking about turnover going from £770,000 (H1 2020) to up to £330 million per annum. That is a potential for an increase in turnover p.a. of up to 428 times current turnover. That's mindboggling. That's Eden's own figures. That's in the RNS domain. I'm surprised this message has not reached out further and been absorbed by more investors. It points to significant share price increase beyond the wildest imagination of most here. Even if you just take the Corteva deal alone and forget the approvals, Eden looks increasingly like a sound investment that is a 'multi-bagger' from here, with arguably, some confidence. And this is without Sustaine being used by more seed companies or the introduction of Eden's first Insecticides. Eden has to be one of the best near-term investments in London (big statement without knowing details of other companies) that investors could consider. Shouldn't Eden be getting this message across more strongly? Let's hope they quote these numbers verbally, as they have in writing and do so in a Proactive video when the Corteva deal is done. Hopefully, the combination of the two will truly ignite Eden's share price which looks cheap as chips to me at 14.4p.
erinvale1: Watching Eden share price decrease for the second day after its brief rally. This company is a basket case that seems incapable of selling anything in decent volume. Let’s hope that Corteva comes to the rescue.
investingisatrickygame: @Super, I think you're going to have to elaborate on 'moo' for me if my guess is not correct given that you brought it to the board. Blue sky or not, there is plenty for Eden to annnounce that delivers revenue that will transform the share price meaning perhaps you and I will never need to depend on 'moo'. Corteva, circa €40 million Cedroz USA circa €80 million Cedroz Italy circa €31 million Mevalone Italy, circa €20 million for strawberries and small fruits That's €130 million of pending (significant) approvals, overdue some might say because of Covid-19 delays and 38 the size of Corteva which in in itself, should transform Eden's share price. And what about Insecticides that Eden has mentioned is advanced. What value to this? And what about another seed deal which Eden has mentioned it is talking to other seed players. What value to this? And what about Sipcam and Sustaine and all those RNS'd collaborations? What value to this? This all adds up in annualised revenue terms to Eden's share price going to many £'s once completed. This is no ramp. It is simple maths that brokers and analysts will apply to arrive at their target price.
Eden Research share price data is direct from the London Stock Exchange
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