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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
|
|
|---|---|---|---|---|
| 0.50 | 4.88% | 10.75 | 11:00:24 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 10.25 | 10.25 | 10.75 | 10.75 | 10.25 |
| Industry Sector |
|---|
| HEALTH CARE EQUIPMENT & SERVICES |
| Top Posts |
|---|
Posted at 16/4/2024 18:20 by bones Cfb2, it is one of RUA’s quiet periods, and a vacuum always finds a way of getting filled by molecules.Here’s a bit more to chew on. Nothing new but worthy of note and speculation…& In December, Edwards Life Sciences spun off its critical care unit to concentrate on heart valves. I particularly noted this: “The company’s decision to spin off the Critical Care segment signifies a strategic shift, aiming to streamline operations and redirect attention towards the TAVR segment. TAVR segment not only promises high growth but also offers lucrative profit margins. This strategic move enables a focused approach to capitalize on broader opportunities within the realm of heart devices while fostering innovation through investments in cutting-edge technologies.” That’s a big statement from the only industry major that relies mainly on its heart valve expertise for income and profits. The other majors like Abbott and Medtronic are spread across so many other health-related areas. One of these majors has signed an MTA to look at RUA’s new composite material which, based on its own benchtop trials, it claims is considerably stronger, tear resistant yet thinner and flexible, ideal for TAVR and all improvements over current technologies which rely on animal tissue sourced from cows in Australia and New Zealand, the only BSE-free herds in the world. You can see why the majors will eventually want to develop something new that doesn’t rely on a risky supply chain such as these animals. If BSE invaded Australia, these majors would freak out. We have not been told Edwards is the MTA partner but it’s possible. In any case, RUA has said it is actively seeking other partners for an MTA. That’s either a sign of intent to target the whole industry or a warning to the current partner to get on with testing while it has a headstart! RUA is so small in relation to the majors, I’m amazed one of them hasn’t used some coins from behind the sofa cushions to hoover this possible technology up. However, maybe this new material might finally trigger some action. Naturally, many old hands here are justifiably sceptical (and long in the tooth) about the likelihood of this MTA progressing or even another one being signed by those possible partners being “actively&rdqu We can but hope. |
Posted at 08/4/2024 09:41 by rivaldo Cavendish retain their 25p price target in their update this morning (with a £7.8m m/cap at 12.5p).Brief extracts: "Strong strategic progress RUA Life Sciences has provided a business update for the year to March 2024, noting revenue shortfalls experienced in H1/24 have been made up by a strong second half. Revenues for the year are therefore expected to be in-line with our forecast £2.2m, while the company notes gross margin will exceed our forecasts, with operating costs remaining tightly controlled. RUA Life Sciences closed FY24 with cash of c£4.0m versus our £3.3m estimate. The company reports significant progress towards its goal of near-term profitability through growing its contract manufacturing business, noting strong progress with a ‘global enterprise’. Finally, RUA has completed a Material Transfer Agreement with a global Heart Valve company covering its composite heart valve material. We believe this update demonstrates excellent progress against the company’s revised strategy." "Strategy – As noted with its successful fundraise in December 2023, RUA’s revised strategy will seek to grow its Contract Manufacturing business, generating long-term contract revenues, explore third-party funding for its vascular graft portfolio and pursue licence opportunities for its composite heart valve material. We believe this business update demonstrates strong progress against this strategy. - Investment thesis – We believe the combination of established revenues with growth potential and the option to deliver significant returns through the disruption of established billion-dollar global cardiovascular markets makes RUA Life Sciences an attractive investment opportunity. RUA now aims to turn profitable in the short term and has adopted a strategy to deliver earlier returns on its Vascular and Structural Heart investments." |
Posted at 05/4/2024 08:59 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 26/3/2024 09:59 by hedgehog11 Thanks burtond1, I always enjoy a feel good read, but someone at RUA must write for Total Market Solutions.My favourite quote; "The strategy is showing signs of paying off, with RUA’s Contract Manufacture, Structural Heart and Vascular branches closing in on deals that promise significant longer-term cash generation and profitability." And I must of missed a few RNS' "Another Contract Manufacture customer ‘is expected to submit a bid request in the next few months at a value of around £500,000." If only bid requests earned income. "The company hopes to double its Contract Manufacture business by continuing to convert sales discussions into formal bid processes." When? "RUA’s Vascular division is seeking third party funding for an advanced project that has attracted interest from original equipment manufacturers, and early commercial sales. All the conditions are in place for the commencement of the regulatory testing regime:" interest in what from who? Joking aside, I've not paid much attention recently but these assertions need backing up and I'm pretty sure the correct place to do that would be an RNS! This article is a typical RUA RNS with a positive spin on it. There's no doubt what is says is what everyone is now hoping for. The doubt is not in the products. It is whether they are really is as good as the claims and the ability of the company to get a return from it. A balanced article would have highlighted some of the challenges and failures RUA are experiencing. The frustration is, that if the tide does turn for RUA, the returns from this point will be pretty impressive. |
Posted at 02/1/2024 14:26 by edmonda Investor Presentation video recording (Interim Results) - 19th December 2023Bill Brown (Chairman) and Lachlan Smith (Chief Financial Officer) of RUA Life Sciences hosted an online presentation for investors. The team covered highlights of their Interim Results (to 30th September) and the successful fund raise announced after period end. Management discussed the shorter-term commercialisation opportunities present in RUA Structural Heart and RUA Contract Manufacture, and how the agreed regulatory pathway enables engagement with potential partners to facilitate the commercialisation of RUA Vascular. The team also answered a range of questions from viewers. The full video is available below, divided into chapters: 0:00:11 Introduction to RUA Life Sciences 0:01:13 Financial overview (Interim Results) 0:06:01 Segmental analysis 0:07:03 Portfolio Businesses 0:08:34 What is Elast-Eon™? 0:11:17 Contract Manufacturing 0:14:25 Structural Heart 0:24:32 Vascular 0:29:06 Portfolio Management & Summary (including completed fund raise) 0:32:32 Questions & Answers Link to watch presentation: |
Posted at 01/12/2023 12:46 by edmonda "Fundraising looks well supported" - new note here: RUA have announced, subject to shareholder approval at a General Meeting, the intention to raise equity via the combination of an institutional placing of shares, a subscription by certain directors and a retail offer. While the minimum gross proceeds are expected to be at least £4.1m, the full amount raised will be fluid until after the retail offer and shareholder approval. The final proceeds raised should be known after the outcome of the Retail Offer is announced on 8 December, and shareholder vote then comes at the General Meeting on 18 December when we will update our financials and model. As well as having revenue-generating divisions, RUA’s Structural Heart and Vascular divisions have products in late-stage development and its recent strategy update noted that these will be developed with partners. While partnering greatly reduces RUA’s cash burn in FY 2024 and beyond, the fundraising also eliminates a potential weakness in the size of the upfront payments, royalties and milestones for those deals. This is because before a successful fundraising, potential partners could attempt to offer less, and defer more. After a successful fundraising, RUA should be able to demand better terms from its potential partners. For now, our valuation is unchanged at £120.3m or 542p per share, but we will update our financials and valuation after the completion of the fundraising and RUA’s interim results on the same day. |
Posted at 24/11/2023 11:01 by drradcliffe What's interesting is Equity Development weren't expecting a trading update. They seemed to think the 20/11/23 Strategy Update replaced a trading update.From their note 21/11/23: "Strategy Update In place of the trading statement which is usually released at this time of year, and ahead of RUA Life Sciences’ interim results, RUA has released a more material - and very well-received - strategy update." "Sticking to its objectives In place of a trading statement that updates investors on the progress of its revenue-generating businesses and its products in development, RUA’s strategy update has been well-received by investors because it outlines the path of the business to greater and earlier revenues than we had expected in RUA Contract Manufacture and RUA Structural Heart. The strategy also lowers the risks for investors compared to funding the development of RUA’s products solely by an equity offering, at a time where life science markets are depressed and the potential dilution punitive." Does this mean the market itself wasn't expecting this trading update? I wonder whether it was a very recent decision to do this in order to stabilise the share price, and specifically on a Friday morning to get rid of the short term traders? If you are going to arrange a small placing, the last thing you want is a highly volatile share price. |
Posted at 21/11/2023 10:19 by edmonda Strategy Update, sticking to its objectives - new note from Equity Development (link here: In place of the trading statement which is usually released at this time of year, and ahead of RUA Life Sciences’ interim results, RUA has released a more material - and very well-received - strategy update. In place of a trading statement that updates investors on the progress of its revenue-generating businesses and its products in development, RUA’s strategy update has been well-received by investors because it outlines the path of the business to greater and earlier revenues than we had expected in RUA Contract Manufacture and RUA Structural Heart. The strategy also lowers the risks for investors compared to funding the development of RUA’s products solely by an equity offering, at a time where life science markets are depressed and the potential dilution punitive. RUA Contract Manufacture, the contract manufacturer of medical devices using implantable fabrics with a biocompatible Elast-Eon coating, is responding to a formal bid request that could result in around £2m in revenues, with much of that recuring on an annual basis. Thus, RUA’s board’s objective of doubling the scale of the contract manufacturing business in the medium term is on track. |
Posted at 25/6/2023 14:50 by bones IN VIVO ANIMAL TRIAL FOR VASCULAR GRAFTIn the interim results statement dated 12th December 2022, the following was stated in regard to the initial “in vivo” animal trials which we were told would be measuring the healing process of the implanted grafts at 1, 3 and 6 month intervals, as required by the FDA. ”While the preliminary in vivo work is currently underway, we continue to assess the best time to start the clinical trial. RUA will advise in more detail on the expected costs and revised timescales in due course but in the meantime is actively exploring opportunities to finance at least part of the clinical stages through non-dilutive funding routes and grant finance.” The implication then is that, for the earlier implantations in this current in vivo work, the six months will already have been reached. Possibly some of the animal work will have continued as more of them are implanted with grafts for this trial. In the previous in vivo trial in 2021, RUA used 12 animals (9 sheep implanted with RUA grafts and 3 with the control graft from Terumo). I suspect more would be needed this time so it could be ongoing for the later animals implanted. Turning to the very recent trading update, we had this stated: ”As previously reported, RUA has been undertaking a "pre-sub" with the FDA and RUA is delighted to report that agreement has very recently been reached with the FDA on protocols for a GLP animal trial and a human clinical trial of the RUA vascular graft. This has been a lengthy process but felt to be worthwhile as it limits the risk of the FDA asking for additional information or testing after submission. During this period of discussion with the FDA, RUA has taken the opportunity to undertake additional development and testing on the graft range with a view to improving performance and maximising manufacturing yields. A detailed work plan has been prepared for the agreed testing regime and quotations received from third party test houses for the required work. The clinical study will involve around 120 patients and further details regarding the costings and timings of this work will be announced in due course.” Taken at face value, this latest statement seems to be saying that the FDA has only just approved the structure of both the animal trial and the human trial. It also states that more work has been done refining and improving the grafts that RUA eventually want to market. This too suggests that the grafts to be tested ought to be the best ones RUA can produce. This basically begs the question, what happened to the in vivo studies that were started in or before December 2022 and has that work now been consigned to the dustbin so that a new, improved, FDA-approved animal trial can now begin? Or, has that original work continued and morphed into the studies that will be presented to the FDA? If so, which version of the grafts went into the earlier animals seeing as the grafts have continued to be refined? Surely, in an official trial, the status of the grafts implanted have to be consistent throughout the animal and human trials? It’s probably lost in the messaging, but it doesn’t entirely give clarity about where RUA currently is in the timeline on the in vivo work. They are not helping themselves or shareholders here! |
Posted at 08/6/2023 14:22 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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