Share Name Share Symbol Market Type Share ISIN Share Description
Open Orphan Plc LSE:ORPH London Ordinary Share GB00B9275X97 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -4.80 -13.71% 30.20 23,333,160 16:35:01
Bid Price Offer Price High Price Low Price Open Price
30.00 30.50 34.25 29.75 34.25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 3.25 -5.60 -3.35 202
Last Trade Time Trade Type Trade Size Trade Price Currency
17:42:54 O 100,000 31.50 GBX

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Date Time Title Posts
17/6/202123:58open orphan a new beginning 15,928
17/6/202121:59Open Orphan - Big things to come2,293
10/2/202107:44open orphan a new beginning1
23/9/202017:01OPEN ORPHAN18
23/9/202016:32Open Orphan - 202014

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Open Orphan (ORPH) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-06-17 16:43:0731.50100,00031,500.00O
2021-06-17 16:08:2830.20610,000184,220.00O
2021-06-17 15:35:0130.204,5411,371.38UT
2021-06-17 15:30:0031.50100,00031,500.00O
2021-06-17 15:29:4630.1732,4299,782.21O
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Open Orphan (ORPH) Top Chat Posts

Open Orphan Daily Update: Open Orphan Plc is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker ORPH. The last closing price for Open Orphan was 35p.
Open Orphan Plc has a 4 week average price of 29.75p and a 12 week average price of 29.75p.
The 1 year high share price is 47.25p while the 1 year low share price is currently 11.20p.
There are currently 670,450,196 shares in issue and the average daily traded volume is 3,486,043 shares. The market capitalisation of Open Orphan Plc is £202,475,959.19.
parsons4: He is a true leader and very concerned about the share price. Us true shareholders now have a third of our holding in ORPH also in Poolbag Pharma, a company that we do not know the value of (but nor do management yet). We will also own shares in 3 other companies by the Autumn. What is there not to like !!!! The only slight negative I have is his enthusiasm for the share price and repeating the fact that he is going to buy more shares but after another positive RNS. Why did he have to mention that when it may mean he pays more for his holding ????????
extrader: POLB won't start trading for 9 months (lock-in). Its valuation at IPO (imminent) will per CF be in the 10-20% of ORPH share price range, depending on appetite ie 3-6p. He thought it might be 2-3 x that at end of lockin, before heading to Nasdaq (or a funding round...) AIUI HTH
extrader: .."the share price having fallen from 47 following the spin off announcement) to 33 is equivalent to £86 million off the then market cap of £313 million. .." Can't fault the maths, but 'correlation is not causation' : there may be any number of ORPH and non-ORPH related reasons for the share price fall. To ascribe it in its entirety to the spin-off seems unlikely. It could just as easily be pre AR nerves ; or a sense (misguided, but still) that ORPH is a covid story; or that some folk have tumbled to the implications of a 9-month lock-in; or that traders think that CF will offer them a better in-price ; or any permutation of the above...+ doubtless loads of others I haven't thought of... IMO
extrader: .." all orph holders are now effectively holders of some op holdco 2021 ltd, 1 share for each 2.98 orph shares owned atm..." I think not. Go to Companies House and input the 2 x co's 13279507 and 13356328. In each case , go to 'filing history' and the entry for 8 June , 'company name change resolution of 27 May '. You'll see that in the first (incorporated 19 March 2021) CF signs off for the name change from Orph Pharma Limited to Poolbeg Pharma Limited ("new Poolbeg") and in the second case (incorporated 26 April 2021) CF signs off for the name change from Poolbeg Pharma Limited (" old Poolbeg") to OP Holdco 2021 Limited. The different incorporation dates tell us that they are 2 x separate entities; and CF signing off on the name changes to/from Poolbeg on the same day tells us that the change was needed as part of the spin-off process. The third company referenced is ORPH Pharma IP 13279216, a £ 1 company incorporated by Open Orphan PLC (ORPH) to segregate the Intellectual Property that is subject of the current spin-off. The 14 June RNS tells us that ORPH ..." proposes to make a distribution in specie of the entire issued share capital of its wholly-owned subsidiary Orph Pharma IP Company Limited ("Orph Pharma") to Poolbeg Pharma Limited ("Poolbeg"), in return for the issue of new shares by Poolbeg ("Poolbeg Shares") to shareholders of Open Orphan on the register at close of business on 17 June 2021 ("Relevant Shareholders") . So "new Poolbeg" is the vehicle that will issue shares to be distributed to ORPH shareholders as consideration for ORPH 'selling' the IP owned by Orph Pharma. Which is why it is " new Poolbeg" that had to have a subdivision of shares to just shy of 25 million [on 20 May 2021], while 'old Poolbeg' started life with that number. 'Don't assume conspiracy that which can be adequately explained through human error' is supposedly something the CIA remind their staff regularly..... IMO, HTH
pogue: yup, the reason we are spinning this off is that it needs someone to pay for the trials and CF does not want ORPH, which is a services company, getting into pharma trails as its a high risk game. 3 of the 4 spin offs are basically lottery tickets, DiM is not, and they will need funding by dilution but if they make it to the end we win the lottery! If you decide the risk/reward is good the opportunity to take part in placings will be there I am sure CF likes to be fair as he can to shareholders. The dilutions are also part of why we have a 9 month tie in so people don't trash the share price by selling en masse before fund raises can be made at a decent share price.
lazarus2010: my only concern re the spin-offs is the amount of future dilution that might take place. as an example, say you have 300,000 ORPH, at 1:2.98 you would get roughly 100k shares in the new company. What will be the amount of funding that ORPH injects into the new company and how much money will they need to raise in order to proceed with trials to get their vaccines over the line, and will they actually be successful? Let's say ORPH inject £5m, and the company needs £100mln in total so over a few years they raise that £95mln. If you don't participate you still have 100k shares, but the dilution will be 19 times. therefore we would now have 4.2bln shares in issue assuming all fund raising was at the launch price?? The equivalent number of shares as if the company listed with a £95mln fundraise and our £5mln contribution diluted would be c. 5263 shares assuming you hold 300k ORPH shares. This is very simplistic approach as it does not take into account the value of the cash injection + the value of the asset injection e.g the two combined could be valued at say £50mln at launch and therefore to raise a further £95mln would only result in c. 2x's dilution. (assume 200 million shares in issue, so share price would be 50p, therefore to raise say £100mln, they would need to issue 2x's existing number of shares, so with 100k shares you would originally have 100k/200mln but now own 100k/600mln. It also assumes that the share price does not rise at any time during the fundraising period and it might well do if the market sees the product as a potential multi billion $$ earing vaccine! Now that's where it could get interesting, especially looking at what the likes of Pfizer have been earning off their Covid vaccine.!! fwiw I'm staying in for the ride as the risk/ reward would seem minimal assuming the core of ORPH keeps growing and the share price reflects this growth. aimho dyor gla
pogue: Before analysing the share price you need to know the value of the asset we are disposing off I have no real idea does anyone here? I speculated £50 million but that was as I said a finger in the air and based on it being a lot less than Immutex at $400 million which is known. Once this is known you can start debating any share price rises up or down. This is the least valuable asset though from everything we have been led to believe. However before doing that consider if Immutex is worth $400 million and we own 49% how the hell is ORPH currently worth £235 million? Spin offs are not in the price.
lazarus2010: kloster...they are free, they will cost us nothing, we will not have to pay for them, they are valued at zero at present, they are a present from the AIM Gods, zeron cost that's nada, nul, nil, nimic. Get the picture? "However, I believe the share price would be higher if there was no spin-off. And on that basis the new shares are not free." Noooooooo!!! CF has stated no work being done on these assets, therefore the share price would not be higher with them, as we have them now and the share price is not higher!! The ORPH share price might drop when the new free shares are issued, but this will be nothing to do with the 'loss' of the value of the free shares, it could be to do with some traders buying ORPH to get the free shares, then exiting ORPH once they have them, hence selling pressure causing share price to drop, but that should come back up based on ORPH performance.
klosters65: Sorry – I worded it badly. However, to call them free shares is not misleading. The cost is the discount / reduction of the ORPH share price to equal the estimated value of the spin-off asset. Surely this is confirmed by the last few days trading.
troutisout: I am happy holding and adding on dips, the spin offs are just bonuses, something that has been given no value now yet could hold considerable value in the future. I wouldn't get too wound up about what current shareholders get and what percentage will go to new investors, the market will decide that and we will have a chance to add more if we want. Ultimately with a 9 month lock in, the need for more money to move these non core assets forward and the fact that ORPH were never going to move these forward, we just accept the position and wait patiently to see if we benefit. It will be those that hold for longer than 9 months that will see any benefit as most of the development of these assets will take a a lot longer than a few months. We are not having to stump anything up for these dividends in specie and they may have some good value down the line, bottom draw for most of the spin offs, DiM may well see a more rapid appreciation as the development of the assets is very different and far closer to market. ORPH itself should see appreciation too as most are fudging the spin offs, their value to ORPH (or reduction in value of ORPH) and a clearer picture of the core business may lead to a greater valuation. If a newco has a share price of x, it doesn't mean that ORPH price needs to be minus x. If I buy a house and find some gold sovereigns in the footings, it doesn't mean the house is worth the valuation minus the value of the gold sovereigns, they are a bonus. ORPH non core assets have been given no valuation and if they realise some outside of ORPH that too is a bonus.
Open Orphan share price data is direct from the London Stock Exchange
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