Sphere Medical Share Discussion Threads

[dr biotech] 19/8/2015 15:55

I've read that (MMs after stock) on a few boards. Normally used by desperate PIs to explain the dismal performance of their company.

Not really sure what to make of this one. I am a fan of Woodford, and I work in the scientific equipment industry (not medical, but its not a huge difference).

Its always hard getting new products to market and I'd say its going to be at least 3 years to build up appreciable sales. Thats if they can partner it. I haven't really looked close enough at the device/competition to be able to comment on it technically. What I plan to do is to wait and see if they can sell it themselves or get someone else interested. It may mean that I will miss the bottom, but should also mean I don't lose everything either, which is also a possibility.

[del44] 19/8/2015 15:40

But they are all "O" trades. This is not a sets company...
The MMs have always been all over the shop on this quote.......
Just never ending on the down side.....

[cc2014] 19/8/2015 15:27

If they won't let you buy at 12.5 or 13.0 it's because the MM's only wanted sells not buys.

Push the price down, run some stops and then sell them on to PI's at a higher price later on.

The fall imho was simply triggered by a few random sells of PI's and once that starts the stops start kicking in. Happens all the time on these low volume stocks

[adejuk] 19/8/2015 15:07

i think it's ten yrs since i handed over my hard earned

[adejuk] 19/8/2015 15:06

did anyone else invest in the first oakes lyman offer?

[timbo003] 19/8/2015 14:49

>>>Del, Nope, wouldn't let me buy when the bid was 12.5, or 13.0 and I went as low as 5K shares, maybe I could have bought a smaller amount, I didn't try, it just wouldn't have been worth going down much lower because of the dealing charges and I didn't try phoning and order.

I do not know what to make of this, something obviously triggered the fall, broker downgrade perhaps? The times of the published trades do not line up with the MM price changes, but maybe there will be some delayed trades reporting later.

[del44] 19/8/2015 14:37

But no quote to buy??????
Are you sure and if so what does that mean?

[timbo003] 19/8/2015 14:17

>>>buywell

They probably has around £2m in the bank at end of April too, (thanks CC) hence my fairly conservative estimate of 8-9p.

For what it's worth it was impossible to buy on line at the quoted offer prices of 12.5p and 13p earlier this morning, I know because I tried. I could get a quote to sell 100K at just a tad over 13p though and I can still get one now.

[buywell3] 19/8/2015 12:31

OK based upon that your 8p sounds about right

Makes me wonder what £6m a year is being spent upon

[cc2014] 19/8/2015 12:31

Cash burn is about £5.5m per year so spent a little over £2m since placing.
From memory placing was £13m plus they had £2m at the time.

This suggest they can go to March 2018 without additional finance on basis on no sales at all.

The weak holders are getting shaken out now from fear or margin calls or whatever.

For me the situation was always binary. Either this will fly or it won't.

It seems following Mr Woodford's timing was not my best move.

[timbo003] 19/8/2015 12:18

>>>buywell, ADVFN are almost certainly wrong (as usual)

The company raised £13m at the end of April and there are 140M shares in issue, cash burn is around £6M/year

[buywell3] 19/8/2015 12:06

PS

advfn have cash per share at a smidgeon over sixpence

[buywell3] 19/8/2015 12:03

Well if you think about it , the latest RNS has put pay to quite a few bigger holders raisons d'être in SPHR

Another big company in the USA will I think, be somewhat reticent about taking up another's leavings

However you never know perhaps Mr Woodford might increase at these prices , though his timing was a bit off.

Still hope remains

[timbo003] 19/8/2015 12:01

It could go as low as cash in the bank I suppose, which is around 8-9p/share at a guess. Which would value the technology at zilch, but Proxima clearly has a value to someone, but the question is will it be current shareholders who see that value? I hope so, but the lower the price falls the less likely that will be the case, especially if they require another round of fund raising to reach breakeven (or to get to a stage when they can attract a buyer)

[cc2014] 19/8/2015 11:56

Someone getting forced out and as the price falls selling more and more.

3 lots of 25,192 so far and I'd be suspicious some of the others belong to the same party.

[buywell3] 19/8/2015 11:43

You sound surprised

[cc2014] 19/8/2015 11:43

Simply going lower as stops get taken out. Like everything else on the FTSE today. Currently 6 losing days in a row so this could be number 7.

I suspect some of PI's who are selling are forced sellers due to losses on other stocks.

Things will look different in September when the holiday season is over and we'll all be wondering why FTSE was ever down here

[del44] 19/8/2015 11:36

Nobody seems to want to touch this thing......
Big mark down with investors cutting their losses it would seem...

[del44] 18/8/2015 13:58

See what I mean CC2014? The marked bid/offer price is quite meaningless with SPHR.
Sell gone through outside the spread....yet again!!!

[del44] 18/8/2015 08:37

Buys will still be around the 15.30p level regardless. Just the usual spread antics of MMs here...I wouldn't read much into it, to be honest...

[cc2014] 18/8/2015 08:33

One of the MM's has actually moved the offer up during the day! Peel back to 16. Not sure what to make of it ;-)

[timbo003] 18/8/2015 07:50

>>>Buywell

All will be revealed when the interim results are released in September.

[buywell3] 18/8/2015 07:46

what traction in sales is that then ?

Only 1 hospital is using it and how many others have been sitting on the fence for what is it ? 2 years or longer ?

''OCD’s decision may actually leave Sphere better placed to commercial the device, which has gained market traction in the UK and Europe under its third iteration.''

[timbo003] 17/8/2015 22:56

>>>>CC, thanks for that

I see that there is also an audio interview with Wolfgang on Proactive. He sounds quite upbeat!

[cc2014] 17/8/2015 21:23

Analysts say Sphere may be able to negotiate a better commercial deal.

Sphere Medical Holding (LON:SPHR) said Ortho Clinical Diagnostics (OCD) had decided not to exercise its option to acquire the global commercialisation rights for Proxima 4, its blood monitoring system.

It follows a change of focus and ownership at OCD, which has been taken over by the US private equity giant Carlyle Group.

OCD’s decision may actually leave Sphere better placed to commercial the device, which has gained market traction in the UK and Europe under its third iteration.

“We see this as an opportunity that we are now free to also explore commercial agreements with other interested parties that are well placed to sell into the critical care market,” chief executive Wolfgang Rencken told Proactive.

Broker finnCap added: Many global diagnostics companies have a presence in blood gas analysis but do not have a point-of-care device so we believe there is likely to be much interest in Proxima 4.”

The share price, up 3.3%, revealed the market to be generally relaxed about the latest developments.


Not sure how they think the share price was up 3.3% but maybe this will generate some interest tomorrow