Feature article: Hardman & Co Healthcare Index, 2024 – Tough year for Life Sciences By Dr Martin Hall The main function of the HHI is to monitor the performance, and to highlight the attractiveness, of life sciences investments over the long term, and to try to identify those stocks that have disruptive technologies that consistently allow them to outperform both the index and the markets. Many of the 53 constituents of the index are high-risk, with micro-capitalisations and a long way from pro...
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the third year running, despite generally good returns in global markets, particularly in the US, performance in 2024 was poor, not helped by the capital-intensive nature of the sector. The HHI fell 17.7% to 398.9, underperforming all its benchmarks – FTSE 100 (+5.7%), FTSE All-Share (5.6%) and the FTSE AIM All-Share Index (-5...
Dish of the day Joiners: No joiners today. Leavers: No leavers today. What’s cooking in the IPO kitchen?** Announced ITF 4 August: Tan Delta Systems plc, a Sheffield based Company intends to IPO on AIM. Tan Delta has developed an innovative and differentiated monitoring solution based on real time oil analysis and analytics that offers equipment operators enhanced insight into the maintenance status of their equipment and thus the ability to reduce maintenance costs, improve reliability and redu...
3rd August 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object...
17 April 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objectiv...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
H1 results (30 November 2015) noted that the Allersys allergy system could launch in spring 2016, with 37 optimised assays out of 40 targeted for launch. Omega’s Visitect CD4 test to monitor HIV patients shows a variability related to the ambient temperature. The cause is now known and a solution is being developed; the launch date is still uncertain. An Indian production facility in Pune starts operation in FY17 and should lead to sales gains in infectious disease products. Overall H1 sales w...
Development of the automated Allersys allergy test menu is progressing well, with 36 optimised assays, up from 32 in July, and with 40 targeted for launch. Omega’s Visitect CD4 test to monitor HIV patients is still resolving a stability issue with good progress being made but no timeline yet visible. H116 trading showed a 20% food intolerance gain but the German allergy market remains weak with a 13% fall. Infectious disease gained sales from a low base. Management expects adjusted EBIT will b...
Development of the automated Allersys allergy test menu is progressing well, with 32 optimised assays (with 40 targeted for launch) and customer testing underway. A launch in FY16 is possible, but we are not forecasting revenues until FY17. Omega’s Visitect CD4 test to monitor HIV patients hit a development snag with its stability. The issue is reproducible so could be tracked down quickly, but the delay is unknown as yet. Visitect has rapid sales potential of up to £25m a year once validated...
Omega’s development update on 1 June reported that the Visitect CD4 test for HIV monitoring has completed its pilot validation. The next stage is manufacturing batch testing before further field trials; Omega is manufacturing in-house using new specialist facilities. The Allersys range (Allergy iSYS) now has 32 optimised allergen tests (up from 27 in March) of which 22 have full claim support; 40 are targeted for launch. Manufacturing has been validated and 27 tests produced. Testing will be i...
Omega’s FY15 trading update reported that the Visitect CD4 test for HIV monitoring is making “good†progress with management “very confident†that the test variability causes can be resolved. Customer site evaluations on allergy iSYS (using 27 optimised allergens) are being planned to lead towards product launch. For FY15, management guides about 27% growth in adjusted PBT to about £1.4m on overall test sales of £12.1m, up 4%. Food intolerance performed well with 15% growth; manual a...
Omega’s H115 trading statement reports a delay in Visitect. There was a 2% rise in revenues in H1 to £5.69m despite a -£0.25m currency effect, without which the increase would have been 6.2%. Normalised H1 PBT was £0.56m, up 30%. Cash was not disclosed but capitalised costs may be more than expected over FY15. Edison has revised its FY15 and FY16 forecasts to reflect the available H1 figures and Visitect development schedule: a further Kenyan trial is planned for the first half of 2015. All...
Omega is making steady progress with Visitect, an HIV monitoring point-of care (PoC) diagnostic, after initial field trials in India and Kenya. Further optimisation of Visitect is needed for the finger-stick blood samples. We have reduced our expectations for FY15 sales to £0.5m as the timetable for further optimisation and the next larger, 1,000-patient field studies have to be clarified. Allergy iSYS development is progressing to a 40-test launch menu, 24 tests are validated with eight of the...
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