Ergomed Share Chat (ERGO)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Ergomed	LSE:ERGO	London	Ordinary Share	GB00BN7ZCY67	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%	192.50p	190.00p	195.00p	192.50p	192.50p	192.50p	0	07:30:00

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Pharmaceuticals & Biotechnology	39.2	0.3	1.3	148.1	76.47

Ergomed Share Discussion Threads

Showing 176 to 200 of 200 messages

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Date	Subject	Author	Discuss
24/7/2017 10:06	PeproStat trial now fully recruited - that was quick! It was only a month ago that we were advised they had recruited half of the patients. Good stuff and now look forward to results in Q4. hTtps://www.investegate.co.uk/ergomed-plc--ergo-/rns/recruitment-complete-early-for-phase-iib-study/201707240700068231L/	bermudashorts	Read Full Thread Reply
19/7/2017 07:37	Thanks - quite like the thought of a couple of II's keeping the BOD on their toes. If they hope to complete on the acquisition of a US PV by September, they must presumably have already identified the company and be some way down the line in the process. By the way, great information in your final paragraph re. Haemostatix - sounds very promising.	bermudashorts	Read Full Thread Reply
19/7/2017 06:36	Yes BS, that was the reason given, I assume there wasn't any mention of technology/ product acquisitions in the AIM admission document, but I haven't checked. ( http://www.ergomedplc.com/wp-content/uploads/2014/07/Ergomed-Admission-Document.pdf ) Apparently it was the same two institutions who voted against the disapplication rights (forcing the Poll) at the AGM.	timbo003	Read Full Thread Reply
18/7/2017 23:32	Thanks Timbo. Did he say why some institutional investors were upset with the Haemostatix acquisition? Presumably, not in keeping with strategy?	bermudashorts	Read Full Thread Reply
18/7/2017 23:09	Notes from ShareSoc investor meeting 12th July 2017 Stephen Stamp (CFO) gave the presentation The presentation slides can be found here: https://tinyurl.com/yallezrg There was not much new in the slides and as usual at these sort of events, most of the insights came from the Q&A session which followed the presentation, see notes below (Note: all questions and answers are paraphrased, they do not represent a verbatim account) Q: At previous investor meetings you have stated that Ergomed will look to acquire a US Pharmaco Vigilance (PV) business if the price is right, is this still an aspiration, are you going to have to compete against other wannabe buyers? A: We would hope to complete an acquisition by September. There has been growing interest from private equity in PV businesses probably due to their cash generative nature. Q: Do intend to do another technology acquisition like Haemostatix? A: Some of our institutional investors were upset by the Haemostatix acquisition, we do not intend to do another one Q: Why don’t you do concentrate on smaller clinicals for your co-development model, this was you could do more and spread the risk? A: That is our intention, we wouldn’t embark on another study the size (and duration) of the Cel-Sci Head and Neck Cancer study. Instead we would do 3 or 4 smaller (and faster) co-development studies. A: When do you expect the readout for the Cel-Sci study? Q: The study will complete (and then report) when mortality reaches a certain number of patients, this will probably be in around two years time. Q: What successes have you had with the co-development model? A: We received a US$2m milestone payment from Genzyme from the tasidotin co-development (this was pre-IPO, see Aim admission document) and also the recent completed Lorediplon study. Q: Can you tell us more about Lorediplon? A: Ferrer are developing Lorediplon for insomnia, the recently conducted phase II study was a big success with results indicating a suitable duration of action and no appreciable hangover effect Q: How much of as discount to you give for the co-development clinicals? A: 30 – 50% reduction in the fees in exchange for a small royalty and a share in any milestone payments if the drug is outlicenced Q: How much Revenue has Ergomed forgone in the last three years as a result of applying a discount to the co-development studies? A: £3.7m (2016), £3.5m (2015), £3.0m (2014) Q: How much revenue has been foregone as a result of the Cel-Sci study? A: £7m Q: How do you identify co-development opportunities? A: Most of the leads come from partnering conferences, AM might do 12 meetings a day with potential co-development partners at these conferences. We then use an expert panel to screen potential opportunities. The objective is to end up with 2 new opportunities/year. Q: The two Companies (3-D Matrix and Arch therapeutics) developing coagulant products based on self-assembly peptides (SAPs) which will be competitors to the Haemostatix products, both appear to claim their products will be suitable for use with commonly used anticoagulants. Will Ready flow and Peprostat also be suitable for use with anticoagulants? (see AGM notes for more background on SAPs: http://uk.advfn.com/cmn/fbb/thread.php3?id=32307946&from=164#firstpost ) A: SS ducked this question and said he would refer it back to Andrew Mackie. AM has since confirmed by email that anticoagulants should not interfere and there is good animal and human data to support this, furthermore the Haemostatix technology may offer an advantage over the SAPs, as the SAPs appear to work by forming a barrier over the wound that then allows the body’s coagulation system to form the blood clot behind the SAPs. The Haemostatix products form the blood clot directly by introducing a small amount of peptide which then promotes the clot via endogenous fibrinogen.	timbo003	Read Full Thread Reply
13/7/2017 13:44	Look forward to it. Sounds promising and good to see so many HNW's there - hope they left reaching into their very deep pockets for their wallets!	bermudashorts	Read Full Thread Reply
13/7/2017 08:29	A very informative meeting yesterday, around 30 PIs present, mainly high net worths, slides should be available later today, I gained a number of new insights I'll write up a few notes later today (or possibly tomorrow).	timbo003	Read Full Thread Reply
11/7/2017 15:18	Ergomed will be at the ShareSoc investors seminar tomorrow evening, I intend go along to that and will report back in due course https://www.sharesoc.org/events/sharesoc-growth-company-seminar-london-12-july-2017/	timbo003	Read Full Thread Reply
06/7/2017 15:25	Cel-Sci announced today that are extending the DD series warrants again (by another month), expiry date now August 10th https://uk.advfn.com/stock-market/AMEX/CVM/share-news/CEL-SCI-Extends-the-Expiration-Date-of-Series-DD-W/75184466 Presumably they expect further (positive) FDA news on the Multikine study, or an arbitration ruling on the $50m dispute with inVentiv sometime before then.	timbo003	Read Full Thread Reply
01/7/2017 09:27	That is good news and well spotted!!	bermudashorts	Read Full Thread Reply
01/7/2017 09:05	Could there be light at the end of the tunnel for Cel-Sci and their suspended Head and Neck cancer study? This was released after the close on Thursday and the shares responded with a 20% rise on Friday: https://uk.advfn.com/stock-market/AMEX/CVM/share-news/Current-Report-Filing-8-k/75143454 The warrant extension announced earlier this month still looks optimistic, the exercise price following the share consolidation earlier this month is $4.5 (I think), so there is still a way to go. I believe the £856K doubtful debt referred to on page 80 of the Ergomed 2016 accounts may be down to Cel-SCi, so perhaps payment is not looking quite so doubtful now? Ergomed are at the ShareSoc evening event on Wednesday July 10th, so I will ask about it then.	timbo003	Read Full Thread Reply
29/6/2017 08:34	There is a detailed report on Ergomed's recent AGM which can be found in our members network: hTTps://www.sharesoc.org/members-area/ To access the report, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hTTps://www.sharesoc.org/membership/ Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the report (and reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hTTps://www.sharesoc.org/contact-us/	sharesoc	Read Full Thread Reply
26/6/2017 08:53	Thanks very much Timbo - great report!	bermudashorts	Read Full Thread Reply
26/6/2017 08:18	As posted on the ShareSoc AGM forum..... Ergomed AGM report (ERGO) This year’s Ergomed AGM was held at the offices of Covington & Burling LLP, 265 Strand, London WC2R 1BH starting at 9.30am on Friday 16 June 2017. For Investors who are unfamiliar with the company, Ergomed is a hybrid Pharmaceutical Services company offering a complete Clinical Development service for investigational drugs and a Pharmacovigilance monitoring service for marketed products. What makes Ergomed fairly unique amongst its peers is its co-development model, whereby it shares the cost of clinicals trials on new medicines that it runs on behalf of clients in exchange for a royalty (typically 10 – 15%) on sales. Ergomed was founded in 1997 and listed on AIM in July 2014 raising £11m at 160p/share valuing the company at £46m. The number of shares has increased from 28.75m at the IPO to 40.6m. The shares are currently priced at around 196p/share valuing the company at around £78.5m. Links to the Company web site, the Annual Report and other useful information are shown below: Company Website: http://www.ergomedplc.com/ Annual Report: http://www.ergomedplc.com/wp-content/uploads/2014/06/Ergomed-PLC-Annual-Report-2016-1.pdf Equity Development Research Reports: https://www.equitydevelopment.co.uk/company/?company=Ergomed&c=2QTO Proactiveinvestor Ergomed page: http://www.proactiveinvestors.co.uk/LON:ERGO/Ergomed-Plc/ There were around 15 attendees at the AGM which included the BOD, representatives from the Registrar, the company’s NOMAD (Numis) and myself (the only PI present). The recently appointed Chairman, Peter George (PG), kicked off the meeting by introducing the BOD and the newly appointed CEO designate (Dr Wan Weng). PG then proceeded to instruct attendees on the procedures that need to be followed if a Poll were to be called for any of the resolutions. This left me somewhat confused, as around 17.6m shares (44%) of the total issued shares are held by Miroslav Reljanovic (MR) the Ergomed founder and CEO who was present at the meeting. Furthermore none of the resolutions looked particularly controversial: http://www.ergomedplc.com/wp-content/uploads/2014/06/Notice-Of-General-Annual-Meeting-Ergomed-2017.pdf Resolutions 1-5 were all passed on a show of hands with no dissenters and with large (or unanimous) majorities in favour of each resolution on the proxies: http://www.investegate.co.uk/ergomed-plc--ergo-/rns/result-of-agm/201706161744253958I/ For resolutions 6 and 7 (disapplication of pre-emption rights) all attendees voted in favour, however we were informed that there were more proxy votes recorded against (58%) the two resolutions than in favour (42%), so a poll was called and the resolutions were subsequently passed (>75% in favour). The Chairman then formally ended the meeting and invited questions. Q&As (Note: all questions and answers are paraphrased, they do not represent a verbatim account) I started off with a tongue in cheek question on whether MR would remember to fill out his proxy form next year to ensure that no polls would be required. This raised a smile. Q: Given the significant opposition behind resolutions 6 and 7, can I assume that one or more of the institutional shareholders have a problem with pre-emption rights and why do you suppose they were opposed given that your stated intent is to grow the company through both organic growth and acquisitions, with the latter requiring new capital which may have to be raised rapidly and discretely? A: Two institutions voted against the disapplication of pre-emption rights, we cannot publically name which ones, but you could probably work it out from the published information on shareholdings of the larger shareholders. https://markets.ft.com/data/equities/tearsheet/profile?s=ERGO:LSE We don’t know why they voted against, often institutional shareholders follow recommendations by ISS (see link below), but in this case ISS gave no recommendation on voting. https://www.issgovernance.com/ Q: I have been following the recent travails of one of your co-development partners Cel-Sci, http://www.cel-sci.com/ Can you comment on the likely hood of their Head and Neck cancer study ever recommencing? [Note: Cel-Sci seem to be a one trick pony with their entire future dependant on FDA giving the all-clear to recommence their studies to look at MultiKine for Head and Neck Cancer and Perianal Warts. They have recently submitted yet another response to FDA questions on Multikine and they have recently extended the expiry date of some out of the money warrants (DD series) by one month to July 10th so they now cover the period when the next FDA response is expected (beginning of July). They are also litigating for damages against InVentiv (the former CRO involved with their Multikine clinicals) with a judicial decision now imminent]. A: We cannot comment on Cel-Sci, all we have to go on is their public announcements. [Note: I came at this question several times from different angles but got more or less the same response. All of the broker forecasts assign zero value to this co-development, so there should be no downside if the project tanks, but considerable upside if FDA’s response is favourable] Q: Do you think you might have been a bit generous in the milestone payments offered with the purchase of Haemostatix (Peprostat) last year, given that the initial clinicals look very promising and the product pipeline addresses an unmet need in the multibillion dollar Haemostasis market? I am also a shareholder in Kings Arms Yard VCT (who was one of the vendors) and I have followed Haemostatix for a number of years, so I am not really complaining. A: Agree that the prospects for Peprostat and the rest of the Haemostatix pipeline look promising, a Phase IIB clinical on the lead product (Peprostat) is ongoing (read out due Q4). The bulk of the milestones are related to sales targets, so we would be delighted if these targets were met. Q: Are there any of the competitors developing similar products to Peprostat given the large potential market and unmet need (a convenient to use, fast acting thrombin replacement for the prevention of bleeding during surgery) A: There are a couple of other competitor products undergoing development (from Arch and 3D-matrix) which both employ “self assembly peptides”, these are being developed by relatively small quoted companies so we can follow their progress, there may be other developments within large pharma that we are not aware of. Q: If you do raise further funds via issue of further equity, could you consider including ordinary shareholders. Open offers are generally considered too expensive and company broker’s are rarely keen on them as they do not generate broker revenues, however a number of AIM listed companies have recently used Primary Bid to raise a small portion of placing funds from private investors, many of whom are existing shareholders. Private investors participate on the same terms as institutional investors and the company pays a smaller % fee (split between the broker and Primary Bid) for money raised via this route. https://www.primarybid.com/ A: Thank you. We will look into this. Post meeting note: I have now had the opportunity to have a very cursory look at the two competitors mentioned for Peprostat: Arch Therapeutics (OTCBB:ARTH) is a small US biotech listed on the OTC bulletin board, their lead product is AC5 (a non-viscous clear liquid) which gels on contact with bodily fluids. They appear to have decent preclinical data and are attempting to go down the medical device route for product registration http://www.archtherapeutics.com/product/product 3-D Matrix inc. is a US subsidiary of a larger Japanese technology company (quoted on the Japanese market), they are currently developing PuraStat for a number of medicinal purposes including haemostasis, gelation appears to occur on contact with bodily fluids. 3-D Matrix also seem to be going down the medical device route to obtain product approval. http://www.puramatrix.com/clinical_applications_hemostasis.html Both AC5 and Purastat appear to unaffected by commonly used anticoagulants and neither appear to share the mechanism of action of theHaemostatix products which utilise endogenous fibrinogen in order to facilitate clotting and haemostasis. http://www.haemostatix.com/topicalHaemostats.html This raises two additional questions to my mind with respect to Ergomed’s Peprostat and the pipeline products. 1) Will they still be effective if the patient is taking anticoagulants? 2) Will Peprostat also go down the medical device route for approval (rather than as a medicinal product)?	timbo003	Read Full Thread Reply
21/6/2017 10:16	Yes BS, the new CEO was there, there were around 12 suits, so I did feel a bit out numbered, we had a very good Q&A session though. I should be able to get detailed notes done sometime today/this evening, but I do have a lot of other distractions to deal with today.	timbo003	Read Full Thread Reply
21/6/2017 09:34	good news that peprostat update will be this year, only around 6 months to wait. I also agree that the potential of the product seems underrated.	mfhmfh	Read Full Thread Reply
21/6/2017 09:32	Timbo, By the way, I know he isn't due to join until July but was the new CEO at the AGM?	bermudashorts	Read Full Thread Reply
21/6/2017 09:30	Timbo, Yes positive RNS. For any who may be unaware, PeproStat is a coagulant, designed to stem bleeding during surgery. The current phase IIb is recruiting patients who are undergoing liver/soft tissue surgery, vascular surgery or spine surgery. It's administered during surgery on a sponge applied directly to the site of the bleed. Of course the trial is randomised and double blinded so nobody yet knows the outcome, however, would have thought that given the immediate nature of the application, it would become apparent very quickly if there were issues and surgeons would be reluctant to enrol patients to the trial. Just my opinion of course but the fact that recruitment is ahead of schedule and results will be released early is encouraging. Interesting that you were the only PI at the AGM. This stock seems to be very much under the radar if the bb's are anything to go by. Would be very interested in your feedback from the AGM if/when you get a chance.	bermudashorts	Read Full Thread Reply
21/6/2017 09:00	Some reassuring news on Prepostat (Haemostat) this morning,. I suspect that the value of Prepostat and it’s follow on product is grossly undervalued in the Analyst’s sum of the parts valuations. For example, Equity Development have it down with a risk adjusted value of £12.1m (circa $15m) equivalent to around 30p/share https://www.equitydevelopment.co.uk/edreader/?d=%3D%3DQNxIjM However, the initial phase II studies have shown that it appears to be a product with unique advantages over existing treatments for a market which is estimated to be worth around $2.8Bn in 2020. Something not quite right there given that they have 100% ownership. On a related subject, I attended the AGM on Friday, which was an interesting affair, (I was the only ordinary PI present). My notes are in preparation.	timbo003	Read Full Thread Reply
10/6/2017 08:02	Timbo, thanks for that. Believe they're also expecting news any day now on their case against previous CRO, InVentiv.	bermudashorts	Read Full Thread Reply
09/6/2017 21:03	Ergomed present at our Leeds seminar on Tuesday which may be of interest for shareholders and potential investors. More details at: hTTp://www.sharesoc.org/leeds-seminar.html	sharesoc	Read Full Thread Reply
08/6/2017 22:25	The Leeds seminar is a bit too far for me to travel on Tuesday 13th, so I'll hang on and go along to the AGM instead on Friday 16th June which will be held at 265 the Strand in Central London, I'm not too keen on the 09:30 start time though! I see there has been quite a bit of news from Cel-Sci over the last few days: https://uk.advfn.com/stock-market/AMEX/CVM/share-news/CEL-SCI-Extends-the-Expiration-Date-of-Series-DD-W/74947050 They submitted yet another response to FDA on June 5th, so we now have another 30 day wait for further FDA feedback. They are also extending the term of some out of the money warrants from June 8, 2017 to July 10, 2017 which are exercisable at $0.18. The current share price is quoted at $0.0997, so someone in the company is hopeful that FDA will relent and let the Head and Neck cancer study recommence.	timbo003	Read Full Thread Reply
31/5/2017 00:46	Ergomed present at our next Leeds company seminar which may be worth attending if you are a shareholder or potential investor in the company, see: hTTp://www.sharesoc.org/leeds-seminar.html for more details.	sharesoc	Read Full Thread Reply
30/5/2017 20:54	No RNS from Ergomed re. Cel-Sci or have I missed it?	bermudashorts	Read Full Thread Reply
24/5/2017 14:15	Not looking good and would assume that under the circumstances more cash is going to be hard to come by. Best hope I guess is a quick and positive settlement on the arbitration with previous CRO - more bad news on that front could cause even more damage. Just in case anyone is looking in without reading the history, we aren't discussing Ergomed here but one of their development partner's trials (Cel-Sci) which has been put on a full hold by the FDA!	bermudashorts	Read Full Thread Reply

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