Itaconix Share Discussion Threads

[the ghost who walks] 18/8/2019 15:14

Ink doesn't work but if it's the additional slides from the 2018 roadshow it doesn't say anywhere no future capital raise needed. Also note anyhow that that is over a year old.

[hope67] 18/8/2019 15:04

hxxp://itaconix.com/wp-content/uploads/1807-ITX-Roadshow-Presentation-Additional-Slides-FINAL.pdf

[the ghost who walks] 18/8/2019 13:28

Er where did they say they won't raise cash? Would be a bizarre thing for a company like this to state.

[the ghost who walks] 18/8/2019 09:18

I would guess they will raise relatively soon given change in investor base. Hopefully not at a large discount like the last time and given the new investors

[parob] 18/8/2019 07:38

Nouryon launches bio-based polymer for 'weightless' hair styling1-Aug-2019Nouryon (formerly AkzoNobel Specialty Chemicals) has expanded its offering to customers in the personal care market with a bio-based polymer, Amaze SP, helping formulators to meet the latest consumer trends in hair stylingThe new polymer is a result of Nouryon's exclusive global supply agreement with ITACONIX to market bio-based polymers to customers in the personal care market.hTTps://cosmeticsbusiness.com/news/article_page/Nouryon_launches_bio-based_polymer_for_weightless_hair_styling/156793"Consumers are showing an increased interest in lighter textures that allow an effortless, yet flawless hairstyle. It is difficult for formulators to achieve this with traditional, synthetic styling polymers," explained Jens Müller, Global Technical Marketing Manager Personal Care at Nouryon."Amaze share price is plant based and provides a unique weightless hold while enabling a very natural look and feel on the hair. It offers humidity resistant style retention, volume and anti-frizz performance comparable to synthetic polymers."AB Ghosh, Managing Director Surface Chemistry at Nouryon, commented: "Innovation is the backbone of our product development and key to our success, and we use partnerships like the one with Itaconix to accelerate innovation. We will continue to develop more novel bio-based solutions for customers, helping them to meet consumer demands for more natural products."Nouryon launched Amaze share price at the in-cosmetics Global trade show in Paris, France. Recently the company also expanded its offering to customers in the personal care market with a new film-forming polymer for use in long-lasting, high SPF sunscreen products.Formerly Akzo Nobel Specialty Chemicals, we are a global specialty chemicals leader. Markets worldwide rely on our essential chemistry in the manufacture of everyday products such as paper, plastics, building materials, food, pharmaceuticals, and personal care items.Building on our nearly 400-year history, the dedication of our 10,000 employees, and our shared commitment to business growth, strong financial performance, safety, sustainability, and innovation, we have established a world-class business and built strong partnerships with our customers.We operate in over 80 countries around the world and our portfolio of industry-leading brands includes Hydrovance, Dry-Flo, Dermacryl and Balance RCFg.

[jungmana] 17/8/2019 20:07

Hope - yes I did. Will breakeven in 2021. Once last raise of say gbp 1m+ should hopefully be sufficient to take us through 2020.

[hope67] 17/8/2019 19:01

hxxps://www.stocktube.com/companies/news/314133/itaconix-looking-to-scale-the-business-now-the-foundations-are-in-place-14133.html

[hope67] 17/8/2019 18:07

Year end Dec 31 Current* 2019 2020 2021

Revenue £M 0.7 1.7 3.5 6.5
EBITDA (£m). (4.3) (1.5) (0.6) 1.0
EPS (p) (2.8) (0.7) (0.4) 0.2
Net cash/ (debt) £m 2.2 0.7 0.2 0.5

[hope67] 17/8/2019 18:04

junga did you read the report on expected revenues?

[jungmana] 17/8/2019 13:13

show me the link where they stated that please? the cash in hand even with any new cash expected can only last up to 6 to 8 months max

[timw3] 17/8/2019 13:10

the company have already confirmed via interviews there will not be a need for placing until mid 2020 if required...

Are you stating that they a lying?

Your placing speculation on different shares is rather transparent

[jungmana] 17/8/2019 13:07

Tim am not scare mongering. as of last december we had £2.1m cash which is down to £1.5m as of june (received about 400k cash over the period). so 6 months expenses was about 1.1m.
therefore we will need to raise funds by december to strengthen our balance sheet and at hopefully higher than todays prices.
this is a long term investment that imo will do well over coming 12 months and beyond from this level.

[timw3] 17/8/2019 12:55

With just a 4 million mcap, massive potential here

[timw3] 17/8/2019 12:54

Take a look at their revenue potential going forward.


Itaconix PLC- Transformation bearing results
Strong operational progress
Itaconix's (LON:ITX) results for the year to December 2019 were in line with our expectations, with revenue of £0.7mln and year-end net cash of £2.1mln. Since the financial year end, Itaconix has announced a number of important developments:

Agreement with Nouryon for bio-based polymers for the detergent industry (January 2019)
Agreement with Nouryon for personal-care products (February 2019)
Completion of the restructuring programme for an annualised cost saving of more than £1mln (February 2019)
First European order for bio-based polymer for automatic dishwasher detergent (May 2019). First purchase order from Nouryon to supply its polymer for Nouryon’s new Amaze share price product in the personal care segment (May 2019)
Disposal of the residual holding in the Alkalon gum business (May 2019)
The company now has established routes to market in multiple product areas, and we believe this offers a compelling platform for revenue growth in 2019, 2020, 2021. We provide a reminder of the market opportunity and key partnerships, on p2.

Forecasts/Valuation
For fiscal year (FY) 2019e, in spite of a delayed ramp-up of sales earlier in the year, we continue to forecast revenue to more than double. We are forecasting 2019e revenue of £1.5mln, with the underlying (LBITDA) loss narrowing to £1.5mln. We are forecasting a positive year-end net cash position, and we believe that cash resources are sufficient to fund the company's development through to profitability in 2021.

In our in-depth report - "Gaining global reach, March 2019" - we highlighted a number of global comparators, companies with similarly sized market opportunities, and similar or earlier-stage levels of development. Market valuations of these peers suggest 3-5x upside to the Itaconix share price. We believe that the valuation of Itaconix may be depressed due to the shares held by Woodford Investments, whose issues have been widely reported in the media. This overhang notwithstanding, we believe that the fundamental value proposition can drive a re-rating during the next 12 months.

Year end Dec 31 2018 Current 2020 2021

Revenue £M 0.7 1.5 3.5 6.5
EBITDA (£M) (3.9) (1.5) (0.3) 1.0
EPS (p) (4.6) (0.7) (0.2) 0.2
Net cash/ (debt) £M 2.1 0.7 0.3 0.8


The company now has established routes to market in multiple product areas, and we believe this offers a compelling platform for revenue growth in 2019, 2020, 2021.

The table above shows the potential market for polymers produced using Itaconix's proprietary technology.

There are three markets that are addressed by existing commercially ready products from Itaconix, and which drive our revenue growth expectations in the next 1-3 years.

[timw3] 17/8/2019 12:53

advfn blocking proactive investors article.

[timw3] 17/8/2019 12:52

no need for a raise jungmana stop scare mongering as usual .. report by proactive states cash enough to take it into profitability

also directors have loaded up last year at 2p for around £337k shares... so they won't be diluting their holdings..

[timw3] 17/8/2019 12:47

Absolutely huge market. Suggest everyone reads this report.
Based on the comparative and unique properties of Itaconix polymers versus the acrylic acid market, we estimate a total addressable market for Itaconix products of US$7.6 billion.


[...]

[jungmana] 17/8/2019 12:28

woodford dumped all at 1.10p. tr1s should be out next week imo
In the mean time, will need to raise at least £1m before the end of this year to boost the cash pile for 2020.
the current spend is about 200k per month and we had about £1.5m cash as of 30th june.
imo a good buy at this level.

[hope67] 17/8/2019 12:14

Next phase

Itaconix has a development pipeline of products over and above the three current focus areas. A key element of the Itaconix investment thesis is that the company’s proprietary polymerisation process is not just a recipe book for a particular set of products, but a chemistry platform that is capable of producing a wide range of polymers.

The three current focus product groups support our revenue forecasts out to 2021, with £6.5mln of revenue in the full year (FY) to the end of Dec 2020e. Looking beyond this timeframe, we expect further revenue opportunities arising from additional products in further market segments.

[hope67] 17/8/2019 12:12

We believe that Itaconix CHTTM offers major advantages for use in the next generation of non-phosphate detergents in current markets and in future jurisdictions that have not yet phased out phosphates. We believe that the total potential market for Itaconix’s current products in the ADW detergent space is currently around US$135mln annually and will grow rapidly as areas of the world outside of Europe and North America ban phosphates to protect water supplies.

Hair-care





Polymers are used in hairsprays and mousses to give structural support to the hair. Hair-care polymers compete on functional properties such as styling hold, anti-frizz properties, and the tactile quality of the product on hair. The Itaconix RevCare NE product offers various performance advantages, as well as being a bio-based (corn-derived) ingredient in contrast to existing petrochemical based alternatives.

Market leaders in this space include:

Nouryon, world number 1, which announced a partnership with Itaconix in February 2019
BASF, world number 2
Ashland, world number 3

[hope67] 17/8/2019 12:10

Commercial collaborations

In January 2017 Itaconix announced a commercial collaboration with Croda Inc for the supply and marketing of Itaconix’s odour removal additive ZINADOR. Croda is number 2 globally in this market.

In August 2017 the company announced a collaboration with Nouryon to develop chelates for the non-phosphate detergent market. Nouryon is the world's number 1 in chelates.

The reformulation of end-market homecare and personal care products with new ingredients can take two to three years to bring to market due to the product development cycles of the major consumer products companies. The processes that began with the Croda and Nouryon deals are expected to begin affecting revenues in 2019, with a full effect in 2020. We believe that these deals support strong revenue growth in the 2020-2021 timeframe.