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SYNC Syncona Limited

-3.40 (-2.73%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Syncona Limited SYNC London Ordinary Share
  Price Change Price Change % Share Price Last Trade
-3.40 -2.73% 121.00 16:35:07
Open Price Low Price High Price Close Price Previous Close
124.00 117.60 124.00 121.00 124.40
more quote information »
Industry Sector

Syncona SYNC Dividends History

Announcement Date Type Currency Dividend Amount Ex Date Record Date Payment Date

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Top Posts
Posted at 21/9/2023 11:09 by salpara111
I made a small amount of money out of Sync several years ago.
Just having another look again given the bombed out share price
All of these sort of businesses have been hard hit by the rise in interest rates producing a double whammy of increased funding costs for portfolio companies and less opportunity to get an ipo away.
Having said that a point is reached when sentiment is too negative and I think we are nearing that point, having said that, as previous posters have said, the business in now under serious pressure to produce some positive news flow which goes beyond just "we have made good progress with clinical trials"
Posted at 20/11/2022 20:59 by rambutan2
So was I, so I watched the webcast and have to say that no real guidance was given beyond that the sector itself has tremendous opportunities, and that SYNC is upping its game a tad by taking on more staff. I was hoping that in Q&A at the end one of the analysts would ask the (obvious) question, but none did. They are not upping the amount they invest pa, at least for the time being, and they are intent on keeping a big cash balance - which is sensible but a big drag on returns. Of course, it could be that they are supremely confident one of their current port cos is going to go to the moon, and the beauty of bio investing is that success can bring huge value add. Hmmm...
Posted at 16/11/2022 18:35 by chc15
Lol anyway back to sync..drop on no news?
Posted at 16/6/2022 15:06 by rambutan2
Finals out, all in all, quite good:

The second half of CY2021 was marked by significant volatility across equity markets globally. This uncertainty has carried on into 2022, compounded by concerns around inflation, interest rates and Russia's invasion of Ukraine and the ongoing humanitarian crisis. This has impacted investor sentiment towards risk assets. We have seen a macro rotation away from growth stocks, impacting both valuations and financings of biotech companies, especially smaller, earlier stage companies. As market volatility has increased, the Syncona team continues to carefully review the requirements of each of our portfolio companies and our capital pool to ensure that our Company is well positioned to navigate continuing challenging markets. Our balance sheet provides us with a strategic advantage, and the team's expertise and rigorous approach to risk management means we continue to take a disciplined approach to capital allocation across a well-funded portfolio and exciting pipeline.

Syncona ended the year with net assets of GBP1,309.8 million or 194.4p per share, a 0.3 per cent return in the year (31 March 2021: net assets of GBP1,300.3 million, NAV per share of 193.9p, 4.4 per cent return), despite the wider market backdrop for life science companies, which saw the NASDAQ Biotechnology Index decline 12 per cent during the period. The significant NAV uplift achieved through the sale of Gyroscope to Novartis and multiple successful private financings offset the decline in share prices of our three listed companies, Autolus, Freeline and Achilles. We recognise that the performance of these listed companies has been disappointing for our shareholders. Our team have worked closely with portfolio company management teams to support them as they continue to execute their development plans. Similarly, the challenging market conditions have also impacted Syncona's share price performance in the financial year, which has been disappointing. Whilst the market environment for early stage biotech companies continues to be challenging, our listed companies are funded to deliver clinical data which represent key milestones for their businesses, and we believe Syncona is well positioned to deliver growth over the long term.
Posted at 28/4/2022 19:24 by rambutan2
And to balance things out:

Syncona Ltd, a leading healthcare company focused on founding, building and funding global leaders in life science, today announces that it has committed GBP15 million in an oversubscribed GBP75.5 million Series B financing in OMass Therapeutics ("OMass"), a biotechnology company that identifies medicines against highly validated target ecosystems. Syncona was a co-investor in this financing round, which was led by new investors GV, Northpond and Sanofi Ventures. Existing investors Oxford Science Enterprises and Oxford University also joined the round.

OMass, an Oxford University spin out, is developing small molecule drugs to treat rare diseases and immunological conditions. The company has a unique approach to the way it finds new medicines. It uses its proprietary drug discovery platform, OdyssION(TM), to more accurately interrogate the target and how it interacts with its native ecosystem. These observations provide potentially critical information that can increase the chances of finding highly effective small molecule medicines that will be successful in clinical trials.

This latest financing brings the total amount that OMass has raised to GBP119 million. These proceeds will be used to advance OMass' small molecule portfolio towards clinical trials. This includes progressing the development of small molecule drugs to treat Congenital Adrenal Hyperplasia, Inflammatory Bowel Disease and other inflammatory and rare diseases.

Following the Series B financing, Syncona has revalued its existing investment which has resulted in a 32% uplift in the value of its stake in OMass. Including the drawdown of the first tranche of Syncona's Series B investment of GBP15 million, Syncona's holding value of OMass is now GBP44 million. On drawdown of the full Series B financing, Syncona's ownership stake in OMass will be 31 per cent.

Edward Hodgkin, Chair of OMass and Partner at Syncona said: "We are pleased with this financing round which will support OMass as it looks to progress its pipeline of small molecule drugs. The strength of this global group of top tier life science investors reflects confidence in the company's technology and supports our ambition to build a sustainable therapeutics business that has the potential to develop novel drugs in areas of high unmet medical need . This financing represents a further validation of the ability of Syncona's portfolio companies to attract high quality syndicates, to fund them over the long-term."
Posted at 05/4/2022 09:00 by tiger blue
Bought some more this morning after Martin Murphy's purchase, which I see as quite significant. Sentiment has been horrible in biotech generally and SYNC, but the shares are demonstrably cheap given the discount to nav, which is not a comment one could have made during their previous range, as nav was never much above 225p even when the shares traded at 300p. There was a lot of hope and expectation built in then, now pessimism rules, so time to buy. Share trading volume has been picking up recently and Waverton and Sarasin appearing on the register is encouraging.
Posted at 01/3/2022 13:29 by tiger blue
Back in today at 167.5, having sold out of my remaining shares at 225 when the Gyroscope NASDAQ float was pulled. Since then Gyroscope has of course been sold but the share price has still tanked. I have recalculated nav based on the quoted movements since the last valuation date (dec 31), and make it c. 192.4p. SYNC has traded at a premium to nav in excess of 40% in the past. That looked frothy but I do feel that given their ability to create value the shares now look cheap on a discount of 12%. Autolus/Freeline/Achilles have all been grim on NASDAQ but the trio now only represent less than 7.5% of the nav so cannot do much more damage, and one or more could possibly spring a surprise. One big unknown is the future milestone payments due from Gyroscope, which may be up to £249.4 million, but which are discounted for risk/time etc by Syncona to a current value of £47.5m, which looks a conservative approach. Hard buying anything in these markets, but you have to dip a toe in sometimes!
Posted at 06/1/2022 14:21 by robow
tipped in The Telegraph today as their Investment Trust of the year

Questor: this trust just sold a holding for £600m – and its entire market value is only £1.4bn
Questor investment trust bargain: it’s not the first big success for Syncona, the life sciences incubator, and we expect plenty more to come

Richard Evans
6 January 2022 • 6:00am

On Wednesday we chose a healthcare company as our stock tip of the year, on the basis not only of our expectations of its own recovery but because of investors’ recent aversion to the sector as a whole. We will double down on that belief today and pick our investment trust of the year from the same arena.

Our choice, Syncona, is an unusual beast: it invests in young life sciences companies with a view to holding them through the various stages of drug discovery, clinical trials, commercialisation and perhaps an eventual stock market listing.

This is not the first time we have tipped the trust; we first did so in 2018 and have reiterated the advice since. Some readers will not thank us as the shares have lost 22.7pc since that first tip. Why then are we backing the fund again?

Simply because we think the market fails to see its potential or perhaps does not have the patience to wait for that potential to become apparent in actual profits. As we said on Wednesday, generating returns from the scientific breakthroughs at which the healthcare sector excels takes time, while many investors have made fortunes over the past couple of years from spotting the immediate bounty on offer from Covid winners such as Microsoft.

Syncona’s portfolio currently consists of 12 companies and it aims to increase that number to between 15 and 20. Several can offer concrete evidence of progress: collectively 12 of their treatments are undergoing clinical trials and three have already floated on the stock market.

Of four companies no longer in the portfolio, two, Blue Earth and Nightstar, were sold for impressive gains of 9.9 and 4.5 times the amount invested respectively, while the other two proved unviable and were wound up. A 50pc success rate is good when you are seeking to build businesses from nothing in a sector that teems with scientific, regulatory and commercial risks.

But it is the fund’s most recent deal that cements our belief that its managers are equal to the challenge and can be expected to produce a regular stream of lucrative winners.

Just before Christmas Syncona announced that it had agreed to sell its 48.5pc stake in one of its holdings, Gyroscope Therapeutics, which makes gene therapies for blindness, for up to £589m. The fund had co-founded Gyroscope in 2016 and funded it since but the really striking thing is how that £589m figure, admittedly the maximum proceeds, compares with the value that the market currently ascribes to the entire trust: just £1.4bn.

Investors seem to be expressing scepticism that any other holdings, current or future, will generate returns along the lines of those achieved by Gyroscope. In view of that 50pc success rate on investments already exited, such a view seems very pessimistic to this column.

Or perhaps the market was spooked by what seemed, before this deal emerged, to be a lofty premium on the fund of 29pc, or a sky-high 69pc implied on the unquoted part of the portfolio. Gyroscope’s sale brings the overall premium down to 7.3pc and that on the unquoted part to 26pc, according to calculations carried out by JP Morgan Cazenove, the broker, on the day the deal was announced.

Questor’s view is simple: the sales of Gyroscope, Blue Earth and Nightstar, along with the flotations of other holdings such as Autolus, show that this fund knows its business. We therefore expect similar success stories in future and the generation of returns that will comfortably exceed its current market value.

The only proviso is that it won’t happen overnight and so readers will have to show more patience than perhaps with other Questor tips. As we have said before, it’s one to buy and tuck away.

Questor says: buy

Ticker: SYNC
Posted at 14/11/2021 16:12 by sev22
The Syncona Investment Trust, a member of Interactive Investor’s ACE 40 rated list of ethical investments, has reported its latest half-yearly results (11th November 2021):

Syncona Ord (SYNC) investment trust, which invests in life science companies, reported a decline in net asset value of 11.4% for the first six months of its financial year – from the end of March to the end of September.

Over this period, the trust reported that its net assets sat at £1.15 billion, down from £1.3 billion at the end of March 2021.

Figures from FE Analytics show that over this period its share price total return was a loss of 33.6%, suffering from its high premium notably declining.

The decline, the report notes, was driven predominantly by the decline in the share price of two of the trust’s listed holdings, Freeline Therapeutics Holdings ADR FRLN
and Achilles Therapeutics ADR ACHL.

Freeline’s poor performance is put down to “operational challenges” owing to the Covid-19 pandemic. Syncona says these concerns have now been addressed.

Achilles’ share price decline was driven by “market sentiment towards cell and gene therapies”. Syncona says that it believes the business is performing well and in line with expectations.

The trust’s strategy is to establish, build and fund companies to turn exceptional science into a dynamic portfolio of global leaders in life sciences. The aim is for the companies to deliver their product to market. The trust has a long-term target of owning between 15 and 20 companies. It currently has 10.

Martin Murphy, chief executive of Syncona Investment Management Limited, said: “While we are disappointed by the decline in NAV during the period, we are continuing to build a diverse portfolio across the development cycle and therapeutic areas and remain confident in our companies' potential. The substantial capital that a number of our companies have accessed so far this year validate the significant opportunity ahead for them.”

The trust also said that it planned to deploy another £100 million to £175 million into both existing companies and new opportunities this year.

Murphy said: “With clinical data the key driver of value and risk for Syncona, we believe our companies are well positioned and on track to further validate our model and strategy in the next 12 months with the potential for a rich seam of data.”

The trust is a member of Interactive Investor’s ACE 40 rated list of ethical investments. It was placed under formal review in the summer due to the volatility of its share price, but it kept its place on the list.

Dzmitry Lipski, head of funds research at Interactive Investor, notes: “We remain positive on the trust outlook and see it as a strong choice for adventurous investors prepared to tolerate high volatility in the short term, but potentially reap rewards over the longer term.
Posted at 08/11/2021 10:03 by sev22
Peel Hunt Limited have a new price target of £2.79.

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