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
  -4.875p -81.25% 1.125p 1.00p 1.25p 3.25p 1.05p 3.25p 19,054,516 11:23:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 0.0 -5.1 -3.2 - 1.59

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Date Time Title Posts
22/8/201712:49Sphere Medical post CE Marks....Sales ready for take off....220
30/3/201708:40SPHERE MEDICAL1,074

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Sphere Medical Daily Update: Sphere Medical is listed in the Health Care Equipment & Services sector of the London Stock Exchange with ticker SPHR. The last closing price for Sphere Medical was 6p.
Sphere Medical has a 4 week average price of 1.05p and a 12 week average price of 1.05p.
The 1 year high share price is 14.50p while the 1 year low share price is currently 1.05p.
There are currently 141,757,872 shares in issue and the average daily traded volume is 8,135 shares. The market capitalisation of Sphere Medical is £1,594,776.06.
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.
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.
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.
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.
pugugly: No senior management purchases declared and share price moving back down - Still sitting on the side and waiting - Possible memories of LID ?
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.
timbo003: I haven't seen either video yet Del and I probably won't do so until the weekend (the WiFi at this hotel sucks). I'm surprised at the share price reaction to the results, the outlook now seems somewhat better than I was expecting.
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.
cc2014: Today should be interesting. It seems reasonable to suggest that the buying that kicked off yesterday afternoon will continue this morning.Have we seen the classic turn off high volume resulting in a sustained rise in the share price?
cc2014: My thoughts for the day I took a few quotes today and all the trades at 6.1 and above after 8:33 are definitely buys. It seems pretty reasonable to suggest the 6.0 is a sell which was delayed from yesterday although it isn't marked as such. So that's about 1.1m buys vs 300k sells reported. I suspect many of those reported sells yesterday are also buys. Also L2 looks like this WNTS 6.0 Peel 6.25 SHOC 6.0 WNTS 8.0 PMUR 5.75 SHOC 8.0 PEEL 5.25 PMUR 8.75 Peel are completely out of line with everyone else so one assumes the all the buy trades are going to Peel who seemed to have an everlasting supply until they refused more buys later in the day. I only found out I couldn't buy any more around 16:15 but looking at the trades one wonders if this happened earlier in the afternoon, say around 14:45 when the last buy trade went through... The fact that I can sell 150k at 6.12 I find bizarre. Around lunchtime I could sell 150k for 6.21 and all we've had since then are buys. I have a few ideas: a) Peel took a large sell order and have now shifted it all. Indeed they were a bit sleepy and sold too many. b) Peel took a large sell order on and have completely it, sold a few more and thought they could get some more but have now found their source has finished c) During the afternoon a large buyer appeared and from wanting to sell lots of stock in the morning now they want to collect them for their client and so will accept 150k sells but no buys. They want them sub 6.25 which is were the offer sat for a large part of the day d) A junior jobber at Peel misunderstood the trade and now Peel are in a pickle Note that PMUR as sole broker aren't driving this And finally what I know for sure is that if we get another 900k buys tomorrow the price won't stay down here as the whole market will realize the stock is coming from one source I find it all quite interesting but would love to hope the share price moves up tomorrow
Sphere Medical share price data is direct from the London Stock Exchange
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