The dumping continues. Now on a cash adjusted PE of less than 7x. £14m cash in the bank and growing. Either results are going to be nasty or we have a major distressed seller. |
It would appear #ekf may be looking to do something with old spin off #renx. Julian Baines, board member for both will be hosting meetings for both shareholders on 25th at the same place and time........... |
 I may have made the right call recently, but James was more right overall, especially in terms of management performance/failure. Well done James!
In my view, the product portfolio is not performing well enough and is perhaps in the early stages of obsolescence (clearly something/s did not perform as expected in the second half), indeed EKF stated that they don't expect overall revenues across the Diabetes product portfolio to exceed those levels seen in 2023. And that's without any impact from tariff's!
They could undertake in-house development, but if the recent sepsis test development is anything to go by (now ceased), don't hold your breath! The quickest way to right the situation will be one or more acquisitions and/or strategic partnerships (I have two non-listed company's on my radar).
In my view, and perhaps the markets, is that the recent RNS Notice of Results & Investor Presentations x 2 has a whiff of at least one acquisition in the pipeline (or at least a strategic change). What ever it is, and given the recent track record, can the management deliver? Only time will tell! |
Each to their own. As is I see no need to panic. They've dumped the low margin areas, have zero borrowings with decent net cash and attractive cashflow. Any top line revenue growth will fall through and I don't see that as impossible.
There will be more going on inside EKF than we can know. Including development of new capabilities/products.
Currently it looks horrendous but that's not dissimilar to other health-tech/care areas and other parts of the UK market as money flows out, especially this time of year.
Reducing the free float will help but would prefer new products/capabilities on this cost base. |
Look at the posting history. Management should hang their heads in shame. |
Wan got this right |
Share price is getting silly now unless a profits warning is coming with the upcoming results.
Mkt Cap £93m, Cash at Dec 24 £14m so hopefully alot more now and EBITDA expected to be a minimum of £11m. |
Big push is for closed looped artificial pancreas from a few majors, however, EKF can propser. Looks like some have run away. I'm not doing so but did join at an attractive price and added. |
As for CGM, there at a large number of developers, it's a massive market and many scrambling to join or create the eco-system. Ok. EKF can still prosper. It will never be on the scale of an Abbott, R9xhe, Dexcom or the other dozen inclux8ng non-invasive RF in research.
There is a rush to BAN, body area network. Still room for EKF to do what it does. May open up new opportunities. |
Thank you for the kind words.
When invested I continue to look for reasons to buy/hold, but I also look for reasons that cause concern and ultimately reasons to sell and we have had an array of those to choose from!
Over the last few months in particular I was finding far more reasons to consider selling than to add/buy.
And while I might find reason to buy back in, my research efforts and time will be predominantly spent elsewhere, but in any regard the hurdle is now set very high for re-entry!
In my view, one that's worth EKF investors keeping an eye on is the development of continuous ketone monitoring, which could potentially impact EKF's existing and future BHB testing market.
Abbott (a very large global medical diagnostic player) is definitely one to keep tabs on because the development of their novel Continuous Glucose-Ketone sensor is very advanced and looks set to redefine the diagnosis and management of diabetic ketoacidosis (there are other players in development).
The threat appears very real in my view. To exemplify this, Abbotts Sensor-Based Ketone Monitoring System received FDA Breakthrough Device designation, meaning the FDA will accelerate its path toward future approval.
Apparently, Abbotts sensor has already completed phase 1 clinical trials and I note that they are now in additional phase 2 clinical trials concluding in the second half later this year.
Pivotal Stage phase 2 medical device clinical trials: Safety/efficacy and to submit the sensor/device for testing, review and approval (Phase 3 is post marketing surveillance).
If the sensor is approved, Abbott plans to partner with leading insulin pump manufacturers to make the dual monitoring system interoperable with insulin delivery systems.
Food for thought at least, but please conduct your own research when making investment decisions, as the originator, or the threads contributors, could be either wrong or inaccurate. |
Agree, pinkfish. Time to add. |
Looks like a good entry price for a new holding. Financially strong and they have a profitable base to grow from as they replace the low margin sales with better. Not having held as long as others here I see it differently. A buy.
Always the chance they acquire and screw-up integration etc. |
Sorry to see you go Wan. You have been a mine of info. I can’t see a great deal has changed. The full year update is a slight miss. What annoys me is releasing an update that doesn’t really explain what they are hoping to achieve like just giving a list of vague options. Did they actually do any market research before building the state of art enzyme plant? And now they admit they have only just thought about employing sales staff! Seems like they are generating cash without trying that hard. The price targets are maintained at 39p. This is ridiculous price but to come out with a statement about further improving shareholder value at its lowest value in 5 years seems a bit clueless. Am actually considering adding. The market is in the doldrums and any sells disproportionately hit the share price Can’t work out quite what Schroeder’s are doing they still hold just over 5 percent and other institutions remain steady at the moment. Gl |
@wan - respect it takes guts to reverse beliefs - I need to learn to do it more! |
After a great deal of consideration, I have sold out completely!
My patience was thread bare due to the variable and unreliable guidance, especially the most recent guidance, which was materially different to managements previous guidance.
Unless someone can tell me otherwise, I cant see much by way of uniqueness, any significant catalysts or technology breakthroughs, just way too many unanswered questions! |
Let’s see. How can we further shareholder value apart from the free fall. Shall we do a share buyback?, a little acquisition?, maybe a little organic growth? A dividend, employe some sales staff for the enzyme business, find a use in our own business? The choice is endless, but some one needs to make some decisions! Maybe the CEO. I suspect this is yet another stock being hit by redemptions and bot trades, but the update was casual, naive, and lazy . Get a grip! |
Lovely little company looking ripe to be taken private or acquired by a bigger company in the field.
Independent listing not doing it any favours. |
Feb 13 2025
Hybrid closed-loop insulin pumps improve time in range, but increase ketoacidosis
People with type 1 diabetes require continuous insulin treatment and must regularly measure their glucose levels. With open-loop therapies*, insulin administration is manually controlled, while hybrid closed-loop systems* automatically regulate insulin delivery. A study with the involvement of the German Center for Diabetes Research showed that hybrid closed-loop systems offer improved long-term blood sugar values (HbA1c levels) and a lower risk of hypoglycemic coma, but lead to a higher rate of diabetic ketoacidosis. The results were published in The Lancet Diabetes & Endocrinology.
Recommendation: Monitor ketone bodies closely
Due to the higher risk of ketoacidosis, it is important to provide patients with targeted information and, in case of potential metabolic decompensation, to closely monitor ketone bodies in the blood or urine in order to prevent such adverse events, emphasize the authors of the study.
Full details -
Page 88 -
As previously highlighted. EKF provides two products for detecting ketones and monitoring patient resolution in cases of diabetic ketoacidosis. |
Looking for:
1) New Product Story
2) Mix shift - product mix, dump low margins, geographic expansion
3) Management turn around story - come in to address 1), 2) at least
4) Roll-ups - risky but when done properly makes a bog difference
5) Cheap with quality
We can all argue about it but for me EKF meets at least 3 of these and interested to see if they acquire for some type of roll-up. |
Imho there's certainly more upside on EKF than downside and the financials look quality.
As for the demand dynamics I don't see them going anyway but up and with improved margins compared to the past. Only a matter of time before it begins to show traction on improved top and bottom lines.
Interested to see the CEO of ANCR is on the BoD.
Put money where my mouth is and now hold a decent amount. |
What has been on my mind for a while now is how the worldwide boom in the use of GLP-1 drugs affects and causes ketoacidosis.
We already know the diabetics can experience diabetic ketoacidosis (known as DKA), which is a life-threatening diabetes complication, and hence diagnosing and monitoring it is very important - cue EKF's B-HB and STAT-Site® WB used to diagnose and monitor ketosis.
B-HB: The superior ketone test in hospital settings -
The STAT-Site® WB analyzer from EKF Diagnostics is used to quantitatively determine β-ketones (Beta-Hydroxybutyrate or β-HB) and glucose in whole blood at the point-of-care (POC) e.g. doctors office/clinic -
Even without taking GLP-1's, diabetics are at risk from ketoacidosis, and taking GLP-1 increases that risk. However, what has become evidently clear though (according to medical journals), is that GLP-1 use can also cause ketoacidosis in 'non-diabetic patients', which represents a relatively new B-HB testing market!
Given the mega-blockbuster sales of all-things GLP-1's, especially in non-diabetics, it's a high probability that (unfortunately) the size of the markets for ketoacidosis diagnoses and regular monitoring at the POC, are likely to experience material rates of growth.
Some will recall that EKF stated in a recent investor presentation that EKF has a single B-HB/Glucose test-strip and reader in development, which EKF has IP around. This in-house ability and IP will enable the production of a superior and proprietary product that would compliment their existing B-HB testing business, addressing an 'additional' market of $59m in the US, plus additional opportunities outside the US.
Either way, the B-HB testing market look set for multi-year growth. |
Anyone have a figure to hand for what % of EKF's business goes into the animal diagnostics sector? Probably very small. |
I note Schroders reduced holding announcement yesterday. Has Schroder been the seller, and given that the share ticked up, are they done? Time will tell!
I also note some EKF news -
Transforming Healthcare with Seamless Point-of-Care Connectivity
31/01/2025
The healthcare industry is constantly evolving. One of the most exciting developments is how new technology integrates into everyday practices. From managing electronic medical records (EMRs) to connecting diagnostic devices, innovative solutions can help to make healthcare faster, more efficient, and patient-friendly.
At EKF Diagnostics, we are simplifying healthcare data management with our point-of-care (POC) data management software, EKF Link. Let’s explore how integrations and tools like EKF Link can improve clinical workflow and ultimately enhance patient care.
Full details -
Interestingly, EKF previously reported that they were seeing increased interest from other players in utilising EKF Link. In my opinion, EKF Link is under appreciated in terms of augmenting opportunity. |
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