Premaitha Investors - NIPT

Premaitha Investors - NIPT

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Stock Name Stock Symbol Market Stock Type
Premaitha NIPT London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 9.10 01:00:00
Open Price Low Price High Price Close Price Previous Close
9.10 9.10
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Posted at 10/10/2018 22:54 by ngen yap
Been in the stock market for 20 years and share price movements still baffle me! How is it that such low volumes over the last 3 days alone can cause such dramatic falls in the SP?? Even more intriguing is that we only just got an oversubsribed placing off at 10p. Perhaps we fall back to 10p +/- 0.5p but not this! That's why I try to work on the basis of company fundamentals and mid-to-long term targets. I can see Premaitha are busy recruiting different new roles - always a good sign of growth in a company. Been digesting the settlement news, final results, trading update, placing and most recently new service deal for oncology research. What an amazing string of strong and positive developments. Whatever the truth is regarding the placing, with reference to TW's theories of which I only half believe, we are now below the placing price of 10p. So, private investors who may have felt shafted without being afforded a chance to participate in the placing (including TW) can get in at a discount to that! What is very much overlooked is that the founder owner of Yourgene injected £700k further of his own money, to maintain shareholding at 17%+ - this is a very strong signal. We are doing well. We have eliminated the biggest risk / uncertainty in the business - the Illumina litigation. We are now free to operate globally, and in bed with the two largest NGS provider. We are expanding geographically, and continue to. We are expanding our product offering and most recently into new exciting oncology sector. We have a strong management team with significant options at 10p as incentive. The business is simple. Get as many clinics / labs / bases in as many country as we can using our highly competitive product and with the two largest NGS provider (tick). Expand service offerings in the product offerings - Sage, workflow etc (tick). Increase awareness of NIPT (in progress). Expand into new areas eg oncology (tick). Find more efficiencies to deliver better margins (tick). Once foundations set (point 1), growth can be exponential with points 2, 3 and 4. We are very much underway. Note the eye on Americas - for those who haven't, do read their full glossy FY report in Premaitha website. We recorded 34k volume sales in H1 FY18/19. I expect this to be 80k+ by end FY. I foresee FY18/19 revenue to be circa £9.5-£10.5m, with loss of circa £4m. Cash flow could be smaller depending on capex / R&D. So, recent cash injections x 2 should take us to end March next year based on deals today. Then I expect to see FY19/20 revenue to ramp up to £18m with break even achieved, and for FY20/21, revenue to be £30m (with Illumina entries and new deals / products / categories) and OP of £6-7m. Such growth and towards breakeven / OP would easily justify 30-40p valuation. Key is validating this journey in the months to come. Some questioned previous management report that we are at run rate break even - I think they said on NIPT tests only that we are and I believe so. But add in corporate overheads and other R&D / development costs, hence the overall company loss. Like Adam Reynolds and new CEO, Lynn, I have not been more confident of Premaitha since I invested. See this dip as an opporunity to join those who got in at 10p with a view of 20p soon. My target exit remains at 30-40p! No advice intended. Good luck all.
Posted at 03/10/2018 09:12 by dibs61
timo - probably not going much lower than this I agree. I am less convinced about a resumption of the uptrend though. It was not just the placing that slammed the brakes on but the much worse than expected results. Not only is break even at least 12 months if not more away but revenue growth was not as strong as hoped for. There seems to be a view that they will produce a positive news flow prior to the AGM. To do that you've got to have tangible positive news and where's that coming from in the next few weeks? I see this bumping along in a range between say 9-11p for the foreseeable until something sufficently positive comes along to kickstart again. BUT, against that is the certainty that there will be more fundraising within the next few months and if the share price doesnt kick on then investors will be unwilling to pay 10p again!
Posted at 01/10/2018 08:50 by ikeadave
Of course, all small startups have no debt or placings and are instantly profitable, right? If only there was a helpful blog for naive investors that I could read! So Mickey, you’ve sold your house to use as margin for your short here?
Posted at 30/9/2018 16:06 by michaelmouse
IkeaDave - Since you've taken such a strong interest in my blog then try this blog post for size:- hTTp:// BST - the same suspects involved and the same b*llsh*t spoken. Guess what happened to the share price next? ;) Arguably BST were/are in far better financial shape than NIPT. Both set of finances are absolutely dire however. If still in doubt then search for michaelmouse comments on the CPT thread. Guess what? the same suspects and the same outcome. Some undefined vendetta on my part or just stating the facts to help the naïve or less experienced investors from falling for the naughty tricks of the self styled experts? I'll let you decide. Before you do though please, please oh go on please read the rest of my blog ;) As ever AIMHO.
Posted at 30/9/2018 13:01 by michaelmouse
Possibly the funniest load of old tosh I've ever read on these BBs. Desperate stuff I'm afraid. What is it that you don't get about a company with £12m debt, very little cash left and no-where near break-even releasing their news after hours on Friday (the last day before trading in NIPT's shares was suspended)? They've had 6 months to put those figures together, and identify their cash requirements. Growth from the last 6 months to the latest 6 months is £200,000 in revenues, you have no idea what's happened to costs in the period either. I suspect since the cashflow and losses for the 6 month period ending this month are not mentioned then they have probably deteriorated even further. BTW I should have mentioned in my blog post that the cash raise of £2.5m has principally been undertaken to pay Illumina. The cash has almost certainly been spent before it's been raised. Without this cash immediately they're as dead as a dodo:- hTTps:// "The net proceeds will be used to finance the settlement with Illumina and general working capital requirements." The only investors that will support NIPT will be those already up to their neck in it. Imo you'd be stark raving mad to go anywhere near this company unless you're already invested, and even then if you're a small holder you're almost certainly better heading for the exit if an opportunity presents itself. As I said in my blog yesterday, the company is "bust" unless it raises substantial amounts of cash beyond the £2.5m emergency bailout. You'll have to hope that wealthy existing investors have got very deep pockets indeed. Here's the actual scary figures again:- hTTp:// Incidentally, has it crossed your minds that Illumina may be just squeezing the pips out of this company, awaiting the collapse and will then pick over the bones for zero cost when the company goes under? After all they won the court case so why would they do any favours or lucrative deals? It wouldn't make sense would it? As ever, AIMHO, and these are just my thoughts correct or otherwise.
Posted at 29/9/2018 11:43 by hjb1
Hey Dibs, why keep saying it won't get done at 10p....IT ALREADY HAS BEEN DONE AT 10P, total £2.5m FFS! What's more new investors know that they will need to fund again, so it looks like future funding won't be a problem either. And you were one of the few, ha ha! you mean after the world and his friend, lol!
Posted at 19/9/2018 10:48 by pj 1
Hampton58 19 Sep '18 - 10:41 - 5961 of 5961 0 0 0 Buy now The stock will hit 20 very shortly Company will be talking to investors No longer restricted by legal proceedings Strong buy =============================================================================== How do you know they will be taking to Investors? They cant even answer a box standard email yet.
Posted at 19/9/2018 10:41 by hampton58
Buy now The stock will hit 20 very shortlyCompany will be talking to investors No longer restricted by legal proceedings Strong buy
Posted at 19/9/2018 09:19 by pj 1
Hi Dibs. If you are trading it then well done, its nice to see anyone making a profit. However, for long term investors then there are now quite a few unknowns, which the Company will have to confirm one way or another in the near future
Posted at 15/5/2018 07:22 by humphries1
15 May 2018 Premaitha Health plc ("Premaitha", the "Company" or the "Group") Year-end Trading Update and GBP2.5m Fundraising Revenues doubled in the year ended 31 March 2018 & An additional GBP2.5m funds raised Manchester, UK - 15 May 2018: Premaitha Health plc (AIM: NIPT), a leading international molecular diagnostics group, provides a trading update for its financial year ended 31 March 2018; announces completion of a share subscription for GBP2.5m cash at a price of 4.5 pence per share; and announces the issue of shares to satisfy GBP0.5m liabilities at a price of 4.5 pence per share. Highlights -- Unaudited Revenues in the year ended 31 March 2018 increased by 100% to GBP6.2m (2017: GBP3.1m), with the majority of growth from outside of Europe -- Test volumes for non-invasive prenatal testing ("NIPT") more than doubled to over 50,000 (2017: 24,500) -- Operating costs effectively managed to achieve a breakeven EBITDA run-rate in NIPT -- Litigation pressures crystallised in the UK during the period. All costs have now been settled pending appeal and the Company is actively engaged in reducing its exposure going forward -- Revenue diversification underway, with progress made in extending the product range, leveraging underlying technologies and developing collaboration partnerships Post Period-end -- Geographic footprint (already in 20 countries) continues to grow strongly, most recently with new contracts in India and Kenya -- Raised GBP2.5m cash by way of share subscription to fund future international growth - of which approximately GBP950,000 invested by directors of the Company -- GBP0.5m in liabilities settled by the issue of new shares -- 'Yourgene Health' brand is being introduced outside of Europe to reflect the broadening of technology offerings beyond NIPT -- Dr William Denman, Chief Medical Officer, has stepped down as a director of the Company Trading Update Unaudited Revenues increased by 100% to GBP6.2m (2017: GBP3.1m) in the first full trading year of the newly enlarged Premaitha group, following the acquisition of Yourgene Bioscience ("Yourgene") in March 2017. On a like-for-like basis, revenues increased 35% versus pro forma 2017 revenues. -- International revenues increased to GBP3.8m (2017: GBP0.9m), reflecting the Group's increased focus on territories including Asia, the Middle East and Africa, where there is high population growth, lower IP risk and a general receptiveness to new medical technologies -- UK revenues remained constant at GBP1.3m (2017: GBP1.2m), with gradual adoption of NIPT within the NHS focused on high risk contingent screening -- Other European revenues were GBP1.1m (2017: GBP1.0m), from a significantly broader network of customers than in the prior year Operating costs have been tightly controlled throughout the period with a number of structural changes implemented to reduce central overheads and UK operating costs by over 20%. The Group has entered the current financial year at an operating breakeven run-rate in its NIPT activities, whilst investment continues in business and product development activities. Commercial momentum has been maintained since the period-end, further demonstrated today with Premaitha's first customer secured in Kenya and further penetration into the Indian market with the Group securing an agreement with a highly reputable laboratory group. Fundraising The Company has issued 55,527,784 new ordinary shares with a number of investors and directors at a price of 4.5 pence per share, raising GBP2.5m before costs. This will be used to fund continued international expansion of Premaitha's sales channels, further product development in NIPT and other clinical applications, and adaptation of the current products to provide a range of general purpose development tools for potential partners in other areas of clinical genetics. In addition, 10,097,460 shares have been issued in lieu of GBP0.5m of amounts owed principally to directors, further details of which are set out below. Director Dealings Certain directors of the Company have participated in the fundraising by subscribing for new ordinary shares in the form of cash and also by accepting new ordinary shares in lieu of outstanding liabilities owed by the Company. Director participations are as shown in the table below: Name Shares New shares New shares Total % of held before purchased issued new shareholding newly transaction for cash in lieu enlarged of existing share liabilities capital --------------- ------------- ----------- ------------- ------------------ ---------- Dr Bill Chang 45,252,469 15,527,778 611,111 61,391,358 15.9% --------------- ------------- ----------- ------------- ------------------ ---------- Peter Collins 3,522,727 222,222 1,523,362 5,268,311 1.4% --------------- ------------- ----------- ------------- ------------------ ---------- Dr Stephen Little 2,772,727 1,111,111 1,444,445 5,328,283 1.4% --------------- ------------- ----------- ------------- ------------------ ---------- Nick Mustoe 3,909,091 3,333,334 944,444 8,186,869 2.1% --------------- ------------- ----------- ------------- ------------------ ---------- Adam Reynolds 3,681,137 555,556 462,963 4,699,656 1.2% --------------- ------------- ----------- ------------- ------------------ ---------- Alan Chang 3,802,729 0 555,556 4,358,285 1.1% --------------- ------------- ----------- ------------- ------------------ ---------- Issued Share Capital Application has been made to the London Stock Exchange for the 65,625,244 new ordinary shares to be admitted to trading on AIM, which is expected to occur on or around 18 May 2018. The new ordinary shares will rank pari passu with existing ordinary shares. Following the admission of shares noted above, the Company will have 386,843,523 ordinary shares in issue. Directorate Change As the Company grows, it is also reorganising Executive roles for greater clarity between execution and strategic responsibilities. Dr William Denman, a founder member of Premaitha, has decided to take this opportunity to step down as a director and consultant to the Company with immediate effect. In consideration for liabilities owed to Dr Denman as at the date of his departure, the Company has issued him 3,755,579 new ordinary shares issued as fully paid. Dr Denman held options over 2,654,989 ordinary shares which lapse upon his departure. Related Party Transactions The participation of Dr Bill Chang, Alan Chang, Dr Stephen Little, Adam Reynolds, Nick Mustoe and Peter Collins in the placing, as well as the issue of shares to Dr William Denman set out above, are related party transactions (the "Transactions"). Consequently, pursuant to AIM Rule 13, Barry Hextall, a director of the Company who is independent of the Transactions, having consulted with the Company's nominated adviser, believes the terms of the Transactions are fair and reasonable insofar as shareholders are concerned. UK NIPT Litigation Update Premaitha has now settled all of the costs provisionally awarded against it by the UK courts in the January 2018 hearing, concerning the UK NIPT patent trial held in July 2017. These costs amounted to GBP2.0m and were paid from the secured loan facility announced on 22 January 2018. At the January 2018 hearing, the Company was granted leave to appeal, which is anticipated to take place in Q1 2019. The Company has also established arrangements for a 10% royalty on UK sales to be paid into escrow during the appeal cycle as ordered by the court at the same January 2018 hearing. The first payment of approximately GBP30,000 has now been made and the royalty is expected to run at approximately that level per quarter until the appeal is heard. Premaitha is now working with new legal advisers to implement a strategy that will minimise the ongoing cost outlay in the UK, whilst achieving the best outcome for the Group as a whole given its international focus. In parallel, the Company is engaged in potential settlement discussions with Illumina and is also adapting its product development roadmap in light of the UK Court's first instance interpretations of the NIPT patents in question. Branding The Group is introducing 'Yourgene Health' as its new corporate branding outside of Europe, reflecting the Company's increasing geographic scope and expansion of its product range into other areas of clinical genetics. The Group will continue to trade as Premaitha Health in Europe, and as Yourgene Bioscience in Taiwan, but will adopt the new brand - Yourgene Health - in all other territories. Dr Stephen Little, CEO of Premaitha Health, commented: "Our first full year as the enlarged Premaitha group has been one of excellent commercial progress following the effective integration of the acquired Yourgene business. To have doubled revenues, with the majority of growth coming from outside of Europe, demonstrates the success of Premaitha's commercial strategy. "I would like to take this opportunity to thank Dr Denman for his significant contribution to the Company from its very earliest days and we wish him every success in his other business interests. Since founding Premaitha, we, and more recently with our Yourgene colleagues, have brought together clinical genetics capabilities in assay development, bioinformatics and IVD commercialisation to create an internationally competitive diagnostics company. "We are now delivering NIPT services to patients in over 20 countries, and have a strong pipeline both in broadening our services with existing customers, as well as in securing new partners. Whilst there are IP challenges associated with operating in the NIPT space, there are also significant opportunities, and we will continue to develop our offering in this high-growth segment. "We remain keenly focused on leveraging our existing technological capabilities to develop additional products and services across the clinical genetics market, thereby creating additional revenue streams for the Group. We believe the combination of the Yourgene and Premaitha teams puts us in a unique position to successfully deliver clinical genetics capabilities in assay development, bioinformatics and IVD commercialisation. We appreciate the support shown by investors in the fundraising and we look to the future with confidence." This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. For more information, please contact: Premaitha Health PLC Tel: +44 (0)161 Dr Stephen Little, Chief Executive 667 1053 Officer Barry Hextall, Chief Financial Officer Joanne Cross, Head of Marketing Cairn Financial Advisers LLP (NOMAD) Tel: +44 (0)20 Liam Murray / James Caithie 7213 0880 finnCap (Broker) Tel: +44 (0)20 Adrian Hargrave / Scott Mathieson 7220 0500 (Corporate Finance) Andrew Burdis / Abigail Wayne (Corporate Broking) Vigo Communications Tel: +44 (0)20 Ben Simons / Fiona Henson / Antonia 7830 9700 Pollock About Premaitha Premaitha is an international molecular diagnostics group which uses the latest advances in DNA analysis technology to develop safer, faster and regulatory approved genetic screening tests. The Group's current primary focus is on non-invasive prenatal tests (NIPT) for pregnant women - an emerging, multi-billion dollar global market - although the Group intends to expand its product range into other areas of clinical genetics. Premaitha's first product, the IONA(R) test was launched in 2015 as the first CE-IVD NIPT test in Europe. It enables laboratories and healthcare practitioners to offer a complete CE-marked NIPT system in-house. The IONA(R) test is performed on a maternal blood sample - which contains traces of fetal DNA - and estimates the risk of a fetus being affected with Down's syndrome or other genetic conditions. Unlike existing prenatal screening methods, due to its high level of accuracy, the IONA(R) test can significantly reduce the number of women subjected to unnecessary invasive follow up diagnostic procedures, such as amniocentesis, which are costly, resource intensive and carry a risk of miscarriage. In March 2017, Premaitha acquired Yourgene Bioscience, a specialist next generation sequencing and bioinformatics company based in Taiwan, with its own NIPT screening solution that operates on the same Thermo Fisher next-generation sequencing platform as Premaitha's IONA(R) test. Yourgene brings significant benefits to the Group through expanded market access in Asia - the world's fastest growing NIPT market - as well as opportunities for cross-selling and the ability to jointly develop expanded test content both within NIPT and beyond. From May 2018, the Group will trade as Yourgene Health outside of Europe (but remaining as Yourgene Bioscience in Taiwan) reflecting the increased scope of the business in other areas of clinical genetics further to reproductive health; but will maintain the Premaitha Health brand within Europe. Premaitha is headquartered in Manchester, England, with Yourgene offices in Taipei and Singapore. Its shares trade on the AIM market of the London Stock Exchange (AIM: NIPT). For further information, please visit Follow us on twitter @PremaithaHealth. This information set out below is provided in accordance with Article 19(3) of EU Regulation 596/2014. 1. Details of PDMR / person closely associated --- ----------------------------------------------------------------------------------------------------------------- a) Name (i) Dr Bill Chang (ii) Peter Collins (iii) Dr Stephen Collins (iv) Nick Mustoe (v) Adam Reynolds (vi) Alan Chang --- ------------------------------------------------ --------------------------------------------------------------- 2. Reason for the notification --- ----------------------------------------------------------------------------------------------------------------- a) Position / status (i) Chief Scientific Officer (ii) Chief Business Officer (iii) Chief Executive Officer (iv) Non-Executive Director (v) Non-Executive Chairman (vi) Non-Executive Director --- ------------------------------------------------ --------------------------------------------------------------- b) Initial notification /amendment Initial notification --- ------------------------------------------------ --------------------------------------------------------------- 3. Details of the issuer --- ----------------------------------------------------------------------------------------------------------------- a) Name Premaitha Health plc --- ------------------------------------------------ --------------------------------------------------------------- b) LEI 213800UUIT8BZE7QEH33 --- ------------------------------------------------ --------------------------------------------------------------- 4. Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted --- ----------------------------------------------------------------------------------------------------------------- a) Description of the financial instrument Ordinary Shares of 0.1p each --- ------------------------------------------------ --------------------------------------------------------------- b) Identification code of the Financial Instrument ISIN for Premaitha Health plc: GB00BN31ZD89 --- ------------------------------------------------ --------------------------------------------------------------- c) Nature of the transaction Subscription and new shares issued in lieu of existing liabilities --- ------------------------------------------------ --------------------------------------------------------------- d) Price(s) and volume(s) Price Volume (i) 4.5p (i) 16,138,889 (ii) 4.5p (ii) 1,745,584 (iii) 4.5p (iii) 2,555,556 (iv) 4.5p (iv) 4,277,778 (v) 4.5p (v) 1,018,519 (vi) 4.5p (vi) 555,556 --- ------------------------------------------------ --------------------------------------------------------------- f) Date of the transaction 18 May 2018 --- ------------------------------------------------ --------------------------------------------------------------- g) Place of the transaction XLON --- ------------------------------------------------ ---------------------------------------------------------------
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