Vectura Share Discussion Threads

[justiceforthemany] 05/6/2020 18:40

I must agree buybacks in my experience for any company rarely helps the share price and it does tend to drift downwards. Some see this as good and orchestrated/deliberate as the company is buying back shares at a lower price, however it does beg the question about market dynamics and share price manipulation! Numis are in charge of this current one and no idea when the buy back will end - couple of months?

There does appear some support ~ 84p.

[pooroldboy55] 05/6/2020 17:20

Same as last time always seems to be a big seller about went down to low 70s last time .not as if there's a prospect of any divi just can't see how thats helping the shareholders

[boadicea] 05/6/2020 17:14

pob - If the company (we) want to buy our own shares then, like any other buyer, we should do so as cheaply as possible. The reason for the buy-back is to reduce the issue, not support the share price in the short term.
If, as seems the case, there is a large and perhaps urgent seller, we should find the lowest price he will accept. We should be stronger when he is gone.... Well, that's the theory anyway!

[pooroldboy55] 05/6/2020 16:57

Approx 5p in the week down as i said before buybacks dont work,someone explain how that's helping share holders.

[justiceforthemany] 05/6/2020 16:17

FTSE up 2.2% and this is down...

[pooroldboy55] 05/6/2020 15:01

Think i will send them one, asking in which year are they expecting any good news and what the share price might be in a year or two ?
yes i know they can't say but they could always try finger in the wind might be just as successful

[justiceforthemany] 05/6/2020 14:35

Worth sending the BOD another email polaris. Good spot.

[polaris] 05/6/2020 11:19

Aha - another RNS for a vesting share award and sale to cover costs and tax liabilities to Paul Fry, although it doesn't seem to match exactly with my post 9717 either. That may be the preference shares that do not have voting rights, from previous block-listing RNS.

[kiwi2007] 05/6/2020 11:01

Edinburgh IT have been aggressive sellers ever since the new management took over.
Sometimes companies announce buybacks in order to soak up the big institutions they know are dumping. Perhaps this is the case here?

[polaris] 05/6/2020 09:48

Yet again something strange - 260 K bought back yet the total number of shares with voting rights is stated at 604,286,986 post transactions. If we use the shares in circulation from the previous day then it should be 604,100,453. Where have the other 186.533 k shares appeared from? If options have vested then these need to be stated in the RNS or in a separate one.

[boadicea] 05/6/2020 08:55

A glance through the individual buy-back trades shows a number of notably larger ones, between 10K and 100K, mostly at 88p with one at 88.2p. I would suspect these are all from the same seller who is no doubt pleased to find a buyer in quantity as his selling would likely trash the price in an unsupported market.
My first conclusion is that we are going nowhere until this particular seller dries up.
Any attempt to acquire a significant holding quickly would normally force up the price, so my other less encouraging conclusion is that there are no other buyers for quantity at an uncontested bargain price. This is not a good background and we shall probably test the lowest point of this sellers eagerness for out with possibly a final sell-off spike down.
Figuratively speaking, are we standing on an overhanging cliff edge?

[diesel] 05/6/2020 08:49

I’ve never fully understood the buyback process, but it looks as though they buy to match any selling in order to have minimal effect on sp, hence the many small trades.
The question is why and who is selling.

[base7] 05/6/2020 08:01

We appear to be buying back our shares in higher volumes & the optimist in me seeking glimmers of hope is assuming that the brief to our brokers may have been to buy back £10mill back of shares quicker, the "hidden" agenda being that our Board expect our share price to not remain at these levels for too long

[taffy100] 05/6/2020 06:25

Novartis Phase IIIb ARGON study meets primary endpoint in a comparison of Enerzair® Breezhaler® (QVM149) versus a free combination of two existing inhaled treatments in uncontrolled asthma

[justiceforthemany] 04/6/2020 17:46

So around my estimate then.
Need a final verdict on the GSK trial and Advair FDA approval - finally.

With a solid balance sheet and net cash surprised no one has approached Vectura - any one of Hikma, Sosei, Novartis, Bayer, GSK

Or any offer has been kept quiet....

The sudden bounce off 60p was a classic V shape recovery in no time.

Meanwhile the buy back continues to suppress the share price How long will this buy back last?

[polaris] 04/6/2020 10:11

justiceforthemany - not a lot is the answer, unless it becomes leading in class. There will be a 3 % royalty for the formulation IP on sales. Peak sales projections are not available but i'd guess up to £200 M p.a., once fully established.

[justiceforthemany] 04/6/2020 00:04

What sort of sales figures p.a. can we expect from QVM149/Enerzair Breezhaler? Hopefully should be approved in the next month or so.
Could add £10M+ in royalties p.a.?

hxxps://www.sharecast.com/news/news-and-announcements/vectura-upbeat-on-ema-nod-for-enerzair-breezhaler--7460586.html
Upon European regulatory approval, Vectura said it would be eligible to receive a $5m milestone, and thereafter a low-single digit royalty on net sales.

[base7] 03/6/2020 21:02

Which is why those of us who by Vec via SKP would have likely been far better off remaining as SKP.That said,I am hanging around to see whether our new senior management team can improve our fortunes-which could start improving very soon if our Advair generic us approved before the months end

[polaris] 03/6/2020 16:54

I see the new positions...what i want to see is progress on the IP and new contracts coming out of this. Just having a number of directors for XYZ doesn't cut it for me. Walk the walk people.

What happened to the pipeline? All the previous information is now gone from the website and financials. Have these finally died the death? If so, then the old, original VEC is down to a couple of approved products, encompassing the bulk of the write-downs since the VEC/SKP merger. The only other 'value' from the legacy VEC-owned IP will be the GSK patent infringement, assuming it holds through the appeal.

[pooroldboy55] 03/6/2020 16:41

Yes always jam tomorrow 3 day's of buyback and 3 day's of price drop all seems to be going to plan , whatever that is.

[polaris] 03/6/2020 16:22

I see they finally put out the correction. Why thank you sharp eyed PI...both errors now removed.

edit
At least IR got back to me to say thanks for pointing it out...maybe after seeing this post. ;-)

[diesel] 03/6/2020 15:26

Price falling would normally indicate more sellers than buyers and that’s with the buyback. Last round of buybacks were at a time when a big inst holder was selling not sure this time...what gives?
My thoughts for what their worth....
Buybacks in themselves don’t enhance value, no net gain , less cash held versus less shares in issue. Also indicates no planned acquisitions, expansion of research or better uses capital to grow the business.
Rebranding of website, additional executives (VP’s) with a hint of nepotism, bold talk of global aspirations and now a generous LTIP, maybe patience is wearing a tad thin.
A

[taffy100] 03/6/2020 14:32

Vectura expands business development team with three global appointments

Published:03/06/2020

[rogerrail] 03/6/2020 13:01

Wish they would just return cash to shareholders. Furthermore if the strategy is now CDMO, then then the ip to Fluti and the non enhaled drugs should be sold off and cash returned to shareholders.

[pooroldboy55] 03/6/2020 12:46

Last time we started buyback price went down and again this time so what's the point all we are getting is more of nothing.