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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Rua Life Sciences Plc | RUA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 12.50 | 07:44:23 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 12.50 | 12.50 | 12.50 | 12.50 | 12.50 |
| Industry Sector |
|---|
| HEALTH CARE EQUIPMENT & SERVICES |
| Top Posts |
|---|
Posted at 10/2/2025 07:41 by bones Quick history visit:RUA (then called Aortech) acquired RUA Medical Devices Ltd in April 2020 from David Richmond (still a 1.5M shareholder). Richmond himself acquired this contract manufacturing business from Lombard Medical in 2013. The “post balance sheet events” note in the 2013 accounts of RUA Medical Devices said (and I paraphrase): “ 20/12/13 - RUA Medical Devices purchased the assets and goodwill from Lombard Medical (Scotland) Ltd. These comprised the medical device subcontracts manufacturing division of Lombard Medical Technologies PLC. Following this date, RUA Medical secured a 5 year contract to supply implantable medical devices to Coloplast A/S.” As far as I can see, this is the only time Coloplast’s name was mentioned in published accounts until it got a mention in the Abiss acquisition RNS last September. The RUA Medical income to date has mainly been from a US based customer (which has since renewed its supply contract more than once and currently runs to 2027 I think). The customer must therefore be Coloplast’s US subsidiary. Now that RUA has acquired ABISS, which supplies Coloplast in European markets, you get a picture of that relationship. The latest RNS that referred to a new 5 year deal is however (I think) with a different “global customer” as that “existing business” had only done circa £500k of business with RUA before (one sixth of the size of the new contract). |
Posted at 03/2/2025 13:28 by parsons4 I think today's valuation is low without taking into account Rua Vascular and the Heart Valve business. They could both be manufactured in existing premises which would now make Rua a very good take-over prospect. This may be why management are trying to get the shares higher. I too increased my holding today, I couldn't resist the low price paid. |
Posted at 03/2/2025 10:47 by rivaldo In addition, Cavendish have a target price of 25p, and note:"Forecasts. As noted in the ABISS update, business planning is currently being undertaken for the acquisition, with management expecting further revenue growth supported by European demand for the Cyrene product range. We anticipate updating our forecasts to include the ABISS acquisition upon completion of this process but note that the reported FY24 revenues of €2.3m support our previous assumption that the acquisition could contribute c£2m to RUA revenues over a full 12-month period. — Investment thesis: Having reset its strategy, we believe RUA Life Sciences has made strong progress against the company’s new objectives, with the acquisition of ABISS particularly delivering revenue growth and moving the company closer to sustainable profitability. Given post-acquisition group revenues could grow to c£5m (over a full 12-months) the shares are trading on an attractive prospective EV/Sales multiple, offering a strong entry point for investors." |
Posted at 03/2/2025 10:03 by andyview Short note from Cavendish this morning:“RUA Life Sciences has provided a trading update for its French subsidiary, ABISS, which was acquired in September 2024. Trading was significantly 4Q24 weighted, with the first 9-months, pre-acquisition, being impacted by significant supply chain challenges that were resolved in the final quarter. A pretax loss of c€450k was recorded for the first 9-months while the final quarter delivered a pretax profit of c€500k, which will be consolidated by RUA. FY24 ABISS revenues were €2.3m, up 7% YoY, with RUA expecting further growth to be generated from this business. Following the positive trading update from October 2024, the recent announcement of a new supply agreement and this positive ABISS update, we believe RUA is building strong momentum towards becoming a profitable business and see the shares trading at a discount to this expectation.“ |
Posted at 03/2/2025 09:24 by rivaldo An incredible performance from Abiss, and of course credit to RUA's management too.Remember that Abiss cost a grand total of €80k in Sept '24 - yet it's contributed €500k PBT in the last Q4'24 alone. No one can expect Abiss to continue to progress at that rate, but "with expectations for further revenue growth driven by increasing demand in Europe for ABISS's Cyrene product range" Abiss should continue to provide a nicely profitable contribution. I was otherwise engaged when RUA also announced the new supply agreement last week, but £3.3m of work secured over the next 5 years is a tremendous bit of business for what is still a tiny microcap company, and this convinced me to add a few more here. |
Posted at 11/12/2024 11:48 by bones They’ve ditched that “broker” (Equity Development) so the only house broker is now Cavendish. They last had a 25p target which excluded any value for HV and Vascular. I hope there will be an update from them soon unless they are waiting on the completion of the ABISS net asset review.Good to see RUA left some powder dry for the next interim report, namely the expected further uplift in fair values at ABISS over and above the existing heavily written down book values as well as the catching up of the backlog of orders there. They bought ABISS almost as a favour to their main customer (which seems to be Coloplast based on the ABISS acquisition RNS) to help them out and now RUA are changing their year end to match that of Coloplast. That seems significant somehow. Certainly seems to be a solid relationship which might be beneficial if they are open to taking on more business from RUA. As pointed out, RUA also has some IP for Elasteon in the field of interest to Coloplast. The next report from RUA should provide a first indication of how cash generative ABISS might be. From an investment point of view, as Harrogate says, best to ignore HV and Vascular. I don’t believe for one moment that they are a write off but, for now, I’ll assume otherwise until there’s a specific development. |
Posted at 21/11/2024 14:42 by bones Marmie, RUA paid €80,000 for total ownership of ABISS. This was a fire sale by the French liquidator out of ABISS’s old holding company. In the last RNS, RUA estimated, based on book values, that the surplus in value over the €80k that needs to be recognised as a non-cash one off addition to assets of the RUA group is around £900k (in GBP it said). This could be subject to change once they’ve worked out what the fair values of the assets are. They probably need to put some value on the IP too. I think there’s a good chance the adjustment might be higher.Also, it sounds like ABISS is cash positive so they might be building cash having owned it for three months so far. Buying ABISS was mostly at the behest of the big customer, Coloplast, and the RUA group has now decided to realign its own year end to that of Coloplast. I don’t regard that as a coincidence. Coloplast has a vested interest in the products ABISS owns and produces for it. RUA’s other contract manufacturing business seems to be going well also. That is profitable in its own right. RUA’s R&D expenditure has been heavily curtailed to save costs too. The current weakness is probably associated with the messaging on the heart valve. There is no way the share price had been factoring in the heart valve anyway (the CM businesses are worth more than the market cap on their own) but it’s a combination of sentiment and simply being a microcap stock in an ignored AIM marketplace. I’m hoping the interims and commentary due in mid December will fill in the latest developments and be positive on these fronts. |
Posted at 01/11/2024 07:55 by z1co Posted by NickE on lse:Good find Jimzi, and often with smaller medical device companies the P/E ratio is usually higher than that of established players. As you say we can't necessarily apply a P/E of around 64 especially as U.S. companies have a higher P/E assigned than UK stocks. Also, the 900k 'fair value' is I assume a temporary boost to the move to profitability although ABISS will accelerate the move to profitability. Regardless, markets look ahead and a value for a high growth medical device company moving to profitability with other increasingly 'oven ready' blue sky products should be a multiple of where we are now. Following on from the Aortech shareholder base, RUA's history has mainly been in the blue sky sector so value investors probably don't have it on their radar. It's almost as if the stock is punished for being both blue sky and a value play. It may be that the 50p plus valuation the stock probably deserves will only come with full or partial acquisition and on that topic some very astute posts from IntraVnus. RUA do tend to drop hints and when they spoke about doubling revenues they didn't allude to the bargain £80k acquisition but the clue was there. Maybe "the Company has changed its financial year end to better guide business planning and international business unit assimilation" is flagging up another acquisition but this time it's RUA itself. I wonder how that would pan out? They would be interested in contract manufacturing and Elast-Eon but would Coloplast have any need for Rua Vascular and Structural Heart? Unless of course they are looking to expand into long-term implants or soft tissue repair. This quarter could get interesting. |
Posted at 05/4/2024 07:59 by parob Very good update imo. Plenty of cash/time to get sone commercial deals over the line. Speculation alone could drive this higher. Business Update RUA Life Sciences (AIM: RUA), the holding company of a group of medical device businesses focused on the exploitation of the world's leading long-term implantable biostable polymer (Elast-Eon™), today provides an update on trading for the financial year ending 31 March 2024 and developments since the successful fundraise in December 2023.TradingThe first half of the financial year was impacted by operational issues, resulting in the delayed shipment of products from the Contract Manufacturing business. As anticipated, the revenue shortfall experienced during H1 has been fully compensated by a strong H2 performance. As a result, the Company expects to report, subject to audit, FY24 revenue of £2.2 million, which is in line with market expectations. The Company is pleased to announce that the recovery in revenues has not been at the cost of gross margins, and it is anticipated that reported margins will exceed expectations. The Group has focussed on cost control throughout the year. These rigorous measures are expected to result in operating costs of £3.4 million, approximately £0.2 million below market expectations for the year.Cash PositionStrong cost management, together with the anticipated recovery in trading during the second half, means the Company remains financially resilient, with a strong balance sheet and a cash position of approximately £4.0m. Despite challenging trading conditions, these achievements underscore the Group's resilience and adeptness in financial and operational management.Business DevelopmentSignifica |
Posted at 08/6/2023 13:22 by edmonda FY2023 Trading Update - welcome regulatory and R&D progress (and divisional reorganisation)Full details in our note published this morning: Summary: RUA Life Sciences trading update included Group revenues and year-end cash position were modestly ahead of our estimates, with other figures mostly in-line. The highlight of the trading update was the agreement with the FDA on the requirements for the GLP animal study and 120-patient clinical trial required to secure US approval of RUA’s vascular graft. It is clear that RUA is on a pathway to the US approval of its vascular graft which should not be a surprise. RUA Contract Manufacture and RUA Biomaterials both have US customers with approved products. The trading update also provided detail on RUA’s Structural Heart polymeric heart valve product, noting the high bar that heart valves need to reach in terms of their mechanical properties, durability and functionality. RUA’s composite heart valve appears to be meeting these milestones and the current design was proposed as one that could be supplied to other companies. In a subsequent announcement, RUA provided the details of a reorganisation of the Group resulting in its key experimental product businesses – RUA Structural Heart Limited and RUA Vascular Limited – into stand-alone subsidiaries 100% owned by the Group. We applaud this move on a transparency basis which fits with the trading update’s reporting on the segmented sales and net profit margins of RUA’s revenue-generating businesses, RUA Biomaterials and RUA Contract Manufacture. We would caution investors not to jump to the conclusion that one or more of RUA’s segmented divisions could be divested despite the illustrative basis of our valuation being as whole-product acquisitions. Instead, as the timelines for the vascular graft and heart valve products are different, the hive down of the two businesses allows the value and risks of each to be appreciated and provides visibility on where any possible future fundraisings are invested. We await RUA’s final FY 2023 results in mid-July to update our financials and valuation. For now, our valuation remains at £121.0m (545p per share). |
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