Share Name Share Symbol Market Type Share ISIN Share Description
Sphere Medical LSE:SPHR London Ordinary Share GB00B551W951 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.40p 0.35p 0.45p - - - 0 06:37:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 0.0 -5.1 -3.2 - 0.57

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Date Time Title Posts
15/10/201707:01Sphere Medical post CE Marks....Sales ready for take off....483
30/3/201708:40SPHERE MEDICAL1,074

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DateSubject
18/9/2017
20:29
del44: WPCT update.... I think this bb may stay open after delisting...if it does I will post any news I can gleam about SPHR for anybody who has remained invested.... This from their update today..... Sphere Medical Sphere Medical has been a publicly-listed business since 2011, and has been held as a position in the Patient Capital portfolio since April 2015. Since then, the company has progressed broadly according to plan, successfully developing and launching its miniature blood gas analyser, Proxima. Despite this progress, its share price has steadily declined, reflecting a lack of institutional investor interest in early-stage, science-based businesses, almost regardless of the quality of their technology. As a result, the company no longer sees any benefit to being a quoted company and on 21 August, it announced it was pursuing a delisting. We continue to recognise the investment potential of Proxima, particularly the 4th generation product that is currently in development, which has the potential to open up the lucrative US market. We support Sphere’s decision to delist and focus on the development of this ground-breaking product as a private business.
07/9/2017
13:04
evil_doctor_facilier: Fali>>> without the de-listing /funding vote, i suspect instant suspensions and administration, not 6p!!!! This is being funded at 2.6p and the share price is 0.8p. The main holders can buy in open market after whitewash vote tomorrow, or even make an offer for the outstanding shares!! With a whitewash/de-listing vote this could go to circa 2p
27/8/2017
17:04
cc2014: I was on holiday last week enjoying a drink with family when I picked up my mobile and read the RNS on Monday night. I sold out the next morning and got an average of 1.48p for my 350k shares. Good luck to those holding. I find nothing wrong with the way Woodford are approaching this but the actions of the directors and possibly Panmure are a disgrace. The RNS appeared to be rushed and their was information missing from it to make a decent decision. The fact that the share price was stable prior to the announcement suggests to me that the market wasn't expecting what transpired else one of the bigger holders would have been selling out. There are/were a few things that concerned me, although the words whitewash agreement was enough for me to decide to get out if I could salvage anything. These were: 1. Whitewash agreement 2. The warrants on the convertible pref shares 3. The interest on the CPS which means the number of CPS is going to grow every year by 8% 4. The lack of any sales update since June. (suggesting there isn't any or the directors didn't offer any information 5. No update on progress on lactate or time frame for P5 (bearing in mind it was supposed to launch in Dec 2017 and it hasn't even gone for CE marking yet. 6. No commitment from the directors to subscribe to new shares (mind you they probably don't think they've got a job for much longer) 7. And finally I just couldn't see how £5m or £8m was going to be enough given their slow research progress to date. I can see £8m might last 18-21 months after some redundancies but I think there will have to be further investment then. I think I'd rather invest in something more certain even if I pay a higher price. If they only get £5m that's only going to last a year. I also couldn't understand why it's capped at £8m. So, I'm out, have lost confidence in the directors. 1. Lactate was supposed to be on the panel by the end of the year launched and they haven't given a timeframe. Maybe Woodford knows 2. No sales update since June. That's like 5 minutes work. I assume there isn't any but why should I have to assume. 3. I see SVB were given warrants on the loan in January. I kind of figured this out as the Sphere website did update but I see this as seeking to mislead by the directors. The institutions don't like it either. 1. Octopus sold out. Trades 42 on Thursday and 40 on Friday 4,750,000+1,500,000 2. Ruffer sold out. Trades 126+144 on Tuesday 3,153,895+2,500,000 3. Herald sold out. Trade 121 on Tuesday, 2,009,262 4. Artemis sold out. Trade 120 on Tuesday. 807,091 I can't be bothered to trawl through any more as I'm out but it don't look good. Of course they could all be selling their shares to crystallize tax losses and invest in the CPS. Are the CPS EIS invest-able? - I have no idea but I didn't see any reference to it. So, I three options right now. 1. Buy my shares back cheaper and cross my fingers for a few years 2. Buy £5k of CPS and cross my fingers 3. Walk away Tbh I'm frustrated. I still think the product could be a big seller but it's just taking too long. Every year their patents run a year closer to expiry and some of them have as little as 5 years left I think. Some longer. I struggle to understand why the market cap is currently £1m. Maybe that is telling me something. Last time they raised £13m and the product is way more developed than it was then. The question is why their is little or no institutional appetite apart from Woodford and Evans this time.
02/6/2017
08:49
longshanks: Looking perky. The elephant in the room though is the fragile state of the balance sheet.With them at least two years away from break even, we will see a heavily dilutive placing in the near future because this company eats cash.Best scenario really would be a trade sale to a larger company at around 15p, but I suspect we will see a push for the share price to get back to 16p with them then raising £12m at 10p/share.
19/5/2017
08:51
cc2014: hmm - solid support on the bid side with the MM's happy to buy stock in volume within the spread. Some stock left available to buy at 7.4 but not that much. It would be lovely to see a few buys putting pressure on the share price to the upside. Fingers crossed.
02/5/2017
08:33
cinquepercento: Re: above comments. Longshanks: Re: news deliberately designed to increase the share price: You are probably right but the share price could do with a good increase. It seems that we are all agreed that Proxima 4 etc is a good product. All that remains to do then,is to relentlessly push towards meaningful sales. The price is cheap enough in my opinion to motivate the directors etc to buy into this product and help push the price up but without serious sales,the price will quickly drop back again as speculators take profits. Of course,they would be tempted to quickly sell the shares for a quick profit before the price dropped back again. The company seems to be making a genuine effort to sell the product but it is taking a long time for the sales to gather pace,a bit like watching paint dry. Well,I will hold onto my shares to the end. So many time have I pulled out of diving shares only to see them shoot up later. Cinquepercento.
02/5/2017
07:28
longshanks: Definitely a positive update re commercialisation though the elephant in the room is still the ridiculously weak balance sheet.This news is designed to improve the share price and I use the word "designed" deliberately. I think any lift we get will be muted by those anticipating involvement in the inevitable placing; forward selling against that expectation.
28/4/2017
14:20
pugugly: No senior management purchases declared and share price moving back down - Still sitting on the side and waiting - Possible memories of LID ?
03/3/2017
09:35
longshanks: I am so tempted to buy.Just looking at the strength of support given both by IIs and SVB make me feel there must be some value here.There largest competitor is market inertia and it is worth examining that.Whilst it is logical to expect medical practitioners to welcome a device that will improve both quality and efficiency of care, there is still a capital cost of implementation, an operating cost for consumables, a need to add a new consumable into the stocking and planning processes and a requirement to train staff. To my mind, inertia to such change is very difficult to challenge. In addition, there is so little competition in European health care that even public demand for a change to such technology will meet deaf ears.This product could well gain traction but I think we are two to three years from break-even.They do need to raise money in the near future; I don't think £7m is enough, I think they need nearer £12m.Given the current share price, a placing to finance commercialisation would be horribly dilutive. Hence the use of SVB whilst they "evaluate financing options".A likely scenario is that they have a capital profit-sharing deal with an outfit like Lanstead. In essence there is a placing, but instead of upfront cash, the company get a monthly payment linked to the current share price. If the share price rises, the payments go up pro-rata (and vice-versa of course).IMM did a similar deal last year and whilst many expected a "death spiral" in the share price, the opposite happened.In that regard, buying now may prove quite an astute move.Dilemmas, dilemmas.
22/2/2017
11:07
timbo003: See below a few notes from yesterday’s Proactive Investors Biotech Capital meeting (please feel free to copy elsewhere). Richard Wright (CFO) gave the presentation which lasted around 20 minutes and there was around 10 more minutes allocated for Q&As, the notes on Q&As are not a verbatim record, just a summary of what was said to the best of my recollection. A video of the presentations and the Q&A session should be available in a couple of days. Questions and Answers (during presentation) Q: So far you have made individual announcements for each Proxima sale, will this continue? If it does, investors will assume no announcements no sales which isn’t helpful. A: We have made announcement for the first sales in each new country and will probably continue to do so, this is not the same as announcing every sale. We will update the market on sales progress when we release results on February 28th. Q: Who are your main competitors? A: Our main competition is inertia within the Health services. Q: Will P3 customers convert to P4? A: We will automatically convert everyone on P3 to P4 Q: What does it cost to buy a P4 unit? A: The customer can either buy the monitor (a few £ thousand) or lease. Training does not take long (30 – 40 minutes) Q: What are you doing to combat inertia? A: We are indentifying the people within the health care services who are most up for change. Q: What about treating Neonates? A: This project is in hand, we will refine the collection system (thinner tubes) to facilitate this. Question and Answers (post presentation) Q: The recent news of the £3M loan on very reasonable commercial terms (circa 7% p.a.) , was excellent news and to my mind re-risks the shares to a significant extent as it gives us far more flexibility regarding future fund raising. You should have press ganged Trinity Delta into releasing a note on that. A: Yes, it was good news, Trinity Delta did not put out a note, but Panmure Gordon did make a comment. Q: Some research notes imply that you might need to raise a further £10M to reach breakeven, does this seem reasonable? A: We will need to raise more cash. £10-15m would seem like a reasonable estimate for an analyst to make. Q: You will be out of a closed period in a couple of weeks, the directors don’t have much skin in the game, investors will be expecting them to remedy this following the results, can you comment? A: Cannot comment, other than to say you might want to look at the director share purchases during my tenure at Alliance Pharma (APH), especially in the dark days when the share price was in single figures. Q: Regarding the USA, would you now envisage going for FDA approval first or obtaining a partner first? A: Getting regulatory approval before getting a partner seems the more likely option. Q: What regulatory route do you think we will have to take in the USA and how are you identifying the best route to take? A: We have US consultants who have been advising on the optimal regulatory route. We think we can get it through via the 510K route which could take months rather than years for approval, but we will probably need to do a few tweaks to the EU CE approval file first. The alternative would be to go down the PMA route (pre-market approval) for a class III medical device, which would probably take several years.
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