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GNOS Genosis

1.125
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Genosis LSE:GNOS London Ordinary Share GB00B0NVFD79 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.125 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Genosis Share Discussion Threads

Showing 51 to 67 of 250 messages
Chat Pages: 10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
08/6/2006
13:14
A disappointing update with the AGM statement.
Online sales of 80 units in 10 weeks may be more a sign that there's poor product recognition, but the bare figure is a huge let-down.

Cash £5m, might provide a floor.

jonwig
21/4/2006
12:00
RNS Number:7090B
Genosis PLC
20 April 2006

For Immediate Release 20 April 2006

GENOSIS PLC
Maiden Preliminary Results
for the year ended 31 December 2005

Genosis PLC ("Genosis", AIM: GNOS), a UK company focusing on consumer products
for reproductive health, is pleased to announce its maiden preliminary results
for the year ended 31 December 2005.

Highlights

* Successful IPO on AIM in December 2005 raised #7 million gross

* Move from R&D to commercialisation of developed product Fertell, an

at-home fertility testing kit for both men and women

* Exclusive retail distribution agreement with The Boots Company plc and

first delivery ahead of launch of Fertell on the UK high street January

2006

* Expansion of team to cover operations, sales and marketing, quality and

finance

* Financial highlights:
2005 2004

Turnover #0.22M -
Gross profit #0.08M -
Operating loss (#2.57M) (#0.77M)
Retained loss (#2.79M) (#1.57M)
Loss per share (97.4p) (79.1p)

Commenting on the results, Paul Bateman, CEO of Genosis said:"It is with
pleasure that we present our first results following the successful admission of
Genosis to AIM in December 2005. It was a year in which we achieved many of the
long-term goals which Genosis has held since its formation in 1998."

For further details, please contact:
Today on:
Genosis Paul Bateman, CEO +44 (0)20 7466 5000
Buchanan Communications Lisa Baderoon / Rebecca Skye Dietrich +44 (0)20 7466 5000
Evolution Securities Tim Worlledge / Gina Gibson +44 (0)20 7071 4300

Commercial and operations

Genosis is a consumer products company focused on reproductive health. Genosis'
novel Fertell product, an at-home fertility testing kit for men and women, is
now being sold in the UK and Ireland. This marks a significant achievement both
for Genosis itself and for the external parties involved in different parts of
the development programme.

Prior to 2005, Genosis' expertise was focused on designing and developing
consumer devices for reproductive health by utilising the services of and
managing third-party specialists, as evidenced by the development of Fertell.

During 2005 the activities undertaken by key management and staff broadened as
Fertell became ready for commercial launch. Nevertheless, the Group has
maintained the central philosophy of having a small in-house team which has
expertise in external project management. Genosis outsources the functions of
manufacturing, assembly and packaging of the Fertell product.

In sales and marketing, our primary strategy is to sell through major retailers
and directly through our own website. To support this strategy, much of our
work has focused on building our retailer support and activities that will
generate consumer demand in 2006 and beyond. We have also initiated selling
through our own website www.fertell.co.uk.

THE FERTELL PRODUCT

We believe that the Fertell kit, comprising one male and one female fertility
testing device, is the first and currently the only OTC product available on the
high street that allows couples to test accurately their fertility quickly and
simply in the privacy of their own home.

The potential market for Fertell is estimated to be in excess of $500 million
per annum (North America, EU and Japan). There are in excess of 500 million
couples of reproductive age worldwide, and approximately 1 in 6 of them (some 80
million) have problems conceiving. There is a significant increase in the
industrialised world in the number of women deferring childbearing until after
30. This has a marked effect on fertility.

Fertell addresses the fact that fertility is a "couple" issue, since successful
conception is dependent on both partners. However, since it is usually the
woman who leads the family planning efforts, Fertell is positioned as a home-use
OTC product, targeting the female-driven nature of the purchase. The
positioning is focused on:

- Early confirmation - to save valuable time during the process of
trying to conceive, in order to take the most appropriate course of
action;

- Convenience, economy and privacy - enabled by the home use of the
test;

- Ability to ease the psychological stress and reduce anxiety, prior to
the one year timeline typically recommended under National Institute
of Clinical Excellence guidelines; and

- Control - allowing couples to determine for themselves important
decisions about fertility planning.

There is significant media appetite for issues concerning fertility. When the
announcement of Fertell was made in January 2006, there was widespread UK
national and international press, TV and radio coverage generated from a tightly
focused PR campaign.

Genosis has also engaged a contract telephone support service to ensure that it
can provide a helpline staffed with trained nurses who are fully briefed about
the Fertell product. This is particularly important for a product where there
may be emotional issues as well as pure product use issues to address.

DISTRIBUTION THROUGH BOOTS

Genosis' first retail distribution agreement for the sale of Fertell is with The
Boots Company plc ("Boots"), the UK's biggest healthcare retailer with more than
1,200 stores nationwide. The Boots distribution agreement is exclusive for the
UK until 2008. Boots received its first stocking order from Genosis in November
2005 which represents the Group's turnover for 2005.

INTERNATIONAL EXPANSION

It is Genosis' stated intention to launch Fertell in the North American and
other major markets.

THE GENOSIS TEAM

With the intital development phase of Genosis completed, recruitment during 2005
concentrated on the transition from development to manufacture and operations
and included staff with a focus on production and quality. Most recently, the
Chairman Joe Blaker is applying his specialist operational skills in this area
on a part-time basis to assist Genosis in establishing a scalable and robust
supply chain.

Recruitment in the sales and marketing area during 2005 included direct brand
management and the expertise for commercial launch while Robert Thompson's move
from a non-executive role to President, Genosis, Inc. reflects the strategy of
expanding Fertell into the North American market.

In addition, the appointment of a Chief Financial Officer and Financial
Controller (both part time) has underpinned the growth of the Group and its move
to full commercial operation while at the same time enabling the changes in
financial processes and reporting necessary for a listed company.

Further staff appointments over 2006 will concentrate on the operations area and
on strengthening the US team to ensure success in that major market.

CURRENT TRADING AND OUTLOOK

Fertell went on sale in Boots stores on the UK high street in January 2006.
During the current year, two deliveries of Fertell have been made to Boots.
Consequently the current financial year started with encouraging sales. However
Boots has recently notified Genosis that it has modified its long-term order
forecasts downwards over the coming months and we now believe that it will take
longer to achieve Genosis' UK sales aspirations. The Company and Boots are
working together closely to ensure that the overall fertility market can be
exploited efficiently around the Fertell brand.

In March 2006, Boots encouragingly extended the distribution of Fertell from the
500 larger stores contracted in the Boots agreement to around 1200 of its stores
- essentially the entire chain, with the exception of a limited number of
atypical shops. Boots has also accelerated their launch of Fertell into the
Republic of Ireland.

As well as the UK high street, Fertell is now on sale on-line both through
Genosis' own website www.fertell.co.uk and through www.boots.com.

Genosis is currently in discussions with a number of major retailers in order to
establish potential US retail partners. Genosis is also in discussions with a
pan-European healthcare retailer which may enable it to accelerate its European
rollout and, at the same time, achieve coverage of more countries in continental
Europe than originally planned.

Since January 2006 Genosis has received more than 50 unsolicited proposals to
distribute Fertell internationally in different markets.

A key pre-requisite for international expansion is a sufficiently robust supply
chain to service additional markets. In conjunction with suppliers and
advisers, Genosis continues to improve aspects of the manufacturing process
consistent with addressing the issues typically associated with scale-up. To
this end we have placed an order for the construction of semi-automated assembly
equipment for the Fertell male test. Genosis has also exercised its
manufacturing option with Inverness Medical which facilitates access to the
North American markets.

GOALS FOR 2006

Genosis' goals for 2006 are:

- To build on the initial UK sales through Boots and through the
www.fertell.co.uk website, including refining the marketing and
positioning of Fertell in order to maximise opportunity;

- To establish the Fertell brand as trusted and recognised in the
area of human fertility;

- To secure at least one major retail distribution partner in the
North American market;

- To strengthen Genosis' supply chain, including scale-up through
increased automation, the shift to higher volume suppliers for some
components and the start of the introduction of multi cavity moulding;

- To expand and strengthen the organisation, particularly to support the
expansion into the North American market and to further develop
production and supply capabilities; and

- To identify other potential areas which might be appropriate for
the long-term expansion of the Fertell brand.

We aim to become a leading reproductive healthcare business and to maximise the
potential of our innovative Fertell product. There is excellent potential for
our business in the coming year and we are working to ensure that we realise the
opportunities available to Genosis.

FINANCIALS

RESULTS

Group turnover was #0.22 million (2004: #nil) resulting entirely from the sale
of the Fertell product to Boots in 2005 Q4 ahead of the launch in the UK high
street in January 2006.

The Group's gross margin for the period was 38%. The margin reflects the
relatively high costs of a first-off delivery. Margin was also impacted by some
write-off of out of date components and stock as the Group switched from R&D to
commercial supply.

Gross R&D expenditure was #0.58 million (2004: #0.38 million).

Net interest costs were #0.22 million (2004: #0.87 million) reflecting
particularly the interest payments and provision for the redemption amounts on
the various loan stocks issued by Genosis, Inc. prior to their conversion on 13
April 2005 and the costs of servicing the venture loan taken out on 31 March
2005.

The Group received payment of a tax credit during the year (relating to the 2004
trading year) of #0.07 million in respect of the UK government's R&D tax credit
scheme and intends to apply for a repayment in respect of 2005, however the
Directors have been prudent in not recognising this in the current year prior to
submission to and agreement by HM Revenue and Customs (2004: amount claimed
#0.07 million included in the profit and loss account).

Basic loss per share was 97.4p (2004: loss of 79.1p) based on a weighted average
number of shares in issue of 2.86 million (2004: 1.98 million).

The Group employed 11 people at 31 December 2005 (including the 2 Non-Executive
Directors) (2004: 5, of whom 3 were Non-Executive Directors).

CASH FLOW

The Group generated net cash of #7.58 million of which the main elements were:

* Cash outflow from operating activities: #2.73 million (2004: #0.63

million);
* Acquisition of fixed assets #0.44 million (2004: #0.01 million) including

#0.29 million relating to licence payments; and
* Cash raised from external funding #10.91 million including the placing on

the Company's admission to AIM in December 2005 (2004: #0.38 million) .

Working capital rose from a deficit of #3.17 million (2004) to a level of #7.53
million (2005) as Genosis raised cash. In addition, it has built up stock and
work in progress as it progressed from being focused predominantly on R&D to
include manufacture and supply of product.

Cash at the year end was #7.76 million (2004: #0.18 million).

EXCHANGE RATES

The #/$ exchange rate for translation of the results was #1 = $1.7214 (2004:
$1.9260). The Group has no forward exchange contracts.

ANNUAL GENERAL MEETING

The Annual General Meeting of the Company will be held on Thursday 8th June 2006
and it is expected that the Annual Report and Accounts will be posted to
shareholders on or around 8th May 2006.

Consolidated profit and loss account for the year ended 31 December 2005

2005 2004
Note # #

Turnover 219,240 -
Cost of sales (135,484) -

Gross profit 83,756 -

Selling expenses (563,673) -
Manufacturing (303,677) -
Research and development (579,450) (382,797)
Administrative expenses (1,202,348) (384,379)

Operating expenses (2,649,148) (767,176)

Operating loss (2,565,392) (767,176)

Interest receivable and similar income 74,858 9,515
Interest payable and similar charges (296,086) (877,136)

Loss on ordinary activities before taxation (2,786,620) (1,634,797)
Tax credit on loss on ordinary activities - 65,596

Loss on ordinary activities after taxation (2,786,620) (1,569,201)
and retained loss for the year

Loss per share
Basic 3 (97.4p) (79.1p)
Diluted 3 (97.4p) (79.1p)

All amounts derive from continuing operations.

Consolidated statement of total recognised gains and losses for the year ended
31 December 2005

2005 2004
# #

Loss for the financial year (2,786,620) (1,569,201)
Foreign currency translation difference (317,484) 136,439

Total recognised loss for the year (3,104,104) (1,432,762)

Group balance sheet as at 31 December 2005

Note 2005 2004
# # # #
Fixed assets
Tangible fixed assets 155,938 76,544
Investments - -
Intangible fixed assets 216,020 -
_______
371,958 76,544
Current assets
Stock and work in progress 273,164 -
Debtors 796,983 80,861
Cash at bank and in hand 7,757,227 177,427

8,827,374 258,288

Creditors: amounts falling due within one
year (1,293,392) (3,428,292)

Net current assets /(liabilities) 7,533,982 (3,170,004)

Total assets less current liabilities 7,905,940 (3,093,460)

Creditors: amounts falling due after more (696,256) -
than a year

Provisions for liabilities and charges (4,385) -

Net assets/(liabilities) 7,205,299 (3,093,460)

Capital and reserves
Called up share capital 4 1,549,378 6,035
Share premium account 5 8,430,162 4,840,240
Other reserve 5 8,269,598 -
Profit and loss account 5 (11,043,839) (7,939,735)

Equity shareholders' funds/(deficit) 5 7,205,299 (3,093,460)

Consolidated cash flow for the year ended 31 December 2005
Note 2005 2004
# #

Net cash outflow from operating activities 6 (2,733,713) (634,084)

Returns on investments and servicing of finance (221,228) 9,515
Taxation 65,596 95,562
Capital expenditure and financial investment (444,138) (12,645)

Net cash outflow before financing (3,333,483) (541,652)

Financing 10,912,997 384,216

Increase/(decrease) in cash in the year 7,579,514 (157,436)

Reconciliation of net cash flow to movement in net funds/(debt) for the year
ended 31 December 2005
2005 2004

# #

Increase/(decrease) in cash in the year 7,579,514 (157,436)
Cash inflow from increase in debt financing (1,177,665) (384,216)

Change in net funds/(debt) resulting from cash 6,401,849 (541,652)
flows

Other non cash movements 1,675,090 -
Exchange movement (177,660) 84,350
_________ _________
Movement in net funds/(debt) in the year 7,899,279 (457,302)
Net debt at start of year (1,319,717) (862,415)

Net funds/(debt) at end of year 6,579,562 (1,319,717)

1. Nature of financial information

These financial results do not constitute the Group's full statutory financial
statements for the year ended 31 December 2005 however they have been extracted
from those statutory financial statements. The full statutory financial
statements will be posted to shareholders and filed with the Registrar of
Companies following approval at the Annual General Meeting. The financial
information for 2004 is a consolidation of financial information extracted from
the audited financial statements for Genosis Limited for the year ended 31
December 2004 (which have been filed with the Registrar of Companies) and the
audited non-statutory financial statements for Genosis, Inc. for the year ended
31 December 2004.

The auditors have reported on these accounts and the audit reports for Genosis
PLC for the year ended 31 December 2005 and for Genosis Ltd for the year ended
31 December 2004 were unqualified and did not contain statements under 237(2) of
the Companies Act 1985 (regarding adequacy of accounting records and returns) or
under section 237(3) (regarding provision of necessary information and
explanations).

The financial results are prepared in accordance with applicable United Kingdom
law and accounting standards. The accounting policies have been applied
consistently during the current and preceding year.

2. Corporate restructuring

During 2005 the Group carried out a corporate restructuring that put a UK
company as the holding company for the companies in existence up to that point:
Genosis, Inc. and its wholly owned subsidiary Genosis (UK) Ltd.

Due to the fact that the transactions involved represented a group
reconstruction as defined by FRS6 "Acquisitions and mergers" rather than an
acquisition of a business, the restructuring has been accounted for using merger
accounting principles in accordance with UK Generally Accepted Accounting
Principles ("UK GAAP"). The use of merger accounting requires the consolidated
2004 comparatives to be restated to a position as if the Group had been in
existence throughout.

Share capital and reserves in the prior year consolidated balance sheet have
been restated. Differences between these amounts and also the difference
between the nominal value of the shares issued as consideration and the nominal
value of the shares of Genosis, Inc. held by Genosis PLC have been reflected in
a separate reserve.

3. Loss per share

In accordance with FRS 22, loss per share has been stated as if the
share capital including the subdivision of shares in September 2005 had been
organised in this way since incorporation.

Fully diluted loss per share is calculated after showing the effective
of outstanding options in issue.

The calculation of loss per share is based on the following loss and
numbers of shares:

2005 2004
# #

Loss on ordinary activities after taxation and total (2,786,620) (1,569,201)
recognised loss for the year

Weighted average number of shares ('000):
For basic earnings per share 2,862 1,983
Dilutive effect of share options - -

For fully diluted earnings per share 2,862 1,983

4. Share capital
AUTHORISED ISSUED
Ordinary shares of #1 Ordinary shares of #1
Number Nominal Number Nominal
On incorporation

1 March 2005 50,000 #50,000 2 #2

At year end Ordinary shares of #0.10 Ordinary shares of #0.10
Number Nominal Number Nominal

31 December 2005 20,000,000 #2,000,000 15,493,780 #1,549,378

5. Reconciliation of movements in reserves and in shareholders' funds/(deficit)

Group Called Share Other Profit
up share premium reserve and loss
capital reserve account Total
# # # # #

Opening shareholders' deficit 6,035 4,840,240 - (7,939,735) (3,093,460)
Issue of share capital 1,549,378 12,434,687 - - 13,984,065
Loss for the period - - - (2,786,620) (2,786,620)
Exchange adjustment - - - (317,484) (317,484)
Acquisition of Genosis, Inc (6,035) - (575,167) - (581,202)
Transfer of Genosis, Inc. share
premium account - (8,844,765) 8,844,765 - -

Closing shareholders' funds 1,549,378 8,430,162 8,269,598 (11,043,839) 7,205,299

6. Reconciliation of operating loss to operating cash flows

2005 2004
# #

Operating loss (2,565,392) (767,176)
Depreciation 79,282 74,996
Amortisation 69,442 -
Increase in stock (273,164) -
(Increase)/decrease in debtors (781,718) 4,111
Increase in creditors 661,586 70,754
Increase in provisions 4,385 -
Foreign exchange 71,866 (16,769)

Net cash outflow from operating activities (2,733,713) (634,084)

7. Analysis of cash flows for headings netted in the cash flow statement

2005 2004
# #

Returns on investment and servicing of finance
Interest received 74,858 9,515
Interest paid (296,086) -

Net cash (outflow)/inflow for returns on investment and 9,515
servicing of finance (221,228)

Taxation
UK corporation tax receipt 65,596 95,562

Capital expenditure and financial investment
Purchase of tangible fixed assets (158,676) (12,645)
Purchase of intangible fixed assets (285,462) -

Net cash outflow for capital expenditure and fiancial (444,138) (12,645)
investment

Financing
Issue of ordinary share capital 9,735,332 -
Issue of redeemable preference shares 12,499 -
Redemption of redeemable shares (12,499) -
Debt due within one year - net loans drawn down 481,409 384,216
Debt due beyond one year - net loans drawn down 696,256 -

Net cash inflow from financing 10,912,997

vantheman
20/4/2006
15:21
the results arn't to pleasing but i still think it's a great concept and with time will become more popular, it's just a case of been patient!
tinovl
20/4/2006
06:28
This bit in the results won't be received happily (unless, of course, it's the reason for the share price drop to date:

However Boots has recently notified Genosis that it has modified its long-term order forecasts downwards over the coming months and we now believe that it will take longer to achieve Genosis' UK sales aspirations.

Will see how things develop across the pond before considering a purchase.

EDIT at 9am: GULP!

jonwig
14/4/2006
09:43
vantheman,

many thanks - the Oxford article in particular has a lot of further links and diagrams - very helpful.

One bit of me is sorely tempted to buy these shares, but another says "Will I make any money?"
At the moment, the second is winning, but we'll see what transpires with the results and any forward-looking statements.

The share price fall from issue price will be annoying for holders, but isn't particularly unusual.

jonwig
13/4/2006
13:09
vantheman,

would welcome links for posts #40,41.

jonwig
10/4/2006
15:52
alf mate your wife comes to me when she wants sperm anyway!
tinovl
07/4/2006
09:05
alf - well, I don't need to buy their kit (past all that stuff ...)
jonwig
07/4/2006
08:58
jonwig

Save your money

alftupper
29/3/2006
17:53
Suffering a typical post-IPO fate with its share price
FY Results April 20.
See what they have to say - may buy a few then.

jonwig
24/2/2006
12:23
International Biotechnology Trust
By Ellen Kelleher in London

Unlisted biotechnology companies offer opportunities for investors simply because they might be acquired or go public, Andy Smith, manager of the International Biotechnology Trust, says.


His fund's exposure to unquoted companies distinguishes it from similar funds in the biotechnology sector. "One of the key drivers of performance is pharmaceutical companies buying smaller ones," Smith says. The fund targets undervalued companies with strong management, interest from investors and solid pipelines of products.

But Mr Smith shies away from investing in smaller private companies. "We won't do every investment. We'll only do later-stage investments," he says.

About 70 per cent of the trust, which has a portfolio of just 46 companies, is invested in public companies and about 30 per cent in private ones. About 60 per cent of its exposure is in US stocks.

In Mr Smith's opinion, it is more important to figure out how to avoid investing in losers than picking winners. "The failure or success of biotechnology companies rests on clinical trials or drugs in the pipeline," he says.

"If the company doesn't deliver a product, its fortunes suffer radically. Every time we make an investment, we have to look at where the pipeline is."

Though Mr Smith is willing to invest anywhere in the world, the trust's top quoted investments at present are US biotech groups: Solexa, Genosis, Progenics Pharmaceuticals, ANorMed, Cambridge Antibody Tech, OSI Pharmaceuticals, Alexion Pharmaceuticals, Sunesis, Barr Pharmaceuticals and the Austrian biotech group CSL.

vantheman
23/2/2006
12:27
Jonwig,

I agree trading update does look very encouraging, especially the interest from abroad.

Regards

Z

zapherz
23/2/2006
07:40
Trading Update, just issued is pretty encouraging, but with no comparatives, it's not easy to form an opinion.
Anyway, results on 20 April.

I've studied the prospectus, but haven't bought the shares - still might do.

jonwig
15/2/2006
20:43
how long before we start seeing results with our shares then
tinovl
15/2/2006
10:27
Mad4it,


Sorry you are missing the point. Fertell is a completely different product aimed at couples not only men as fertility score is. Your price comparison is therefore incorrect as you are comparing the price for two tests (Fertell) against one test (Fertilityscore).

IS fertilityscore available throughout the country in Boots? Does Fertilityscore have FDA approval for the USA? Fertell does and I believe it is planned to launch in the USA, the largest market for these products in the western world....

Which company would you rather be a shareholder of? One that sells with a slim margin (Fertilityscore) and isn;t available on the high street or Fertell with a good margin, nationwide high street availability, FDA approvl and plans to launch in the USA?

Best Wishes

Regards

Z

zapherz
02/2/2006
17:10
The main difference is that fertilitySCORE sells mainly online and is available in only one pharmacy in London full stop.
vantheman
01/2/2006
18:36
Yes...as far as you're concerned.
mad4it
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