Warpaint London+ (W7L, House Stock, 303p) - Stand-out FY23A interim results – forecasts unchanged

Warpaint London + (W7L, House Stock at 275p) - Strong trading, Superdrug confirmed

Hybridan Small Cap Feast - 15 Jun 23

15th June 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 objecti

Warpaint London+ (W7L, House Stock, 253p) - Exceptional trading continues

Growth Companies - Share & share alike Sell in May?

Hybridan Small Cap Feast - 26 Apr 23

26th 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 object

Warpaint London (W7L, House Stock, 196p) - Strong foundation, even stronger upgrade momentum

Hybridan Small Cap Feast - 24 Mar 23

24 March 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

SHORE CAPITAL - Warpaint London+ (W7L, House Stock at 198p)

Hybridan Small Cap Feast - 11 Jan 23

11 January 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

SHORE CAPITAL - Warpaint London+ (W7L) - House Stock at 190p - A shimmering FY22 confirmed, upgrades

Hybridan Small Cap Feast 14/10/22

Dish of the day Joiners: VAALCO Energy, Inc. (EGY) has been readmitted to the Main Market following a RTO. VAALCO Energy, Inc. announced the closing of the strategic combination of VAALCO and TransGlobe Energy Corporation. The combined Company will now trade on the NYSE and LSE under the ticker symbol EGY. Leavers: TransGlobe Energy Corporation has left AIM following the above RTO. What’s cooking in the IPO kitchen?** World Chess plc, a leading chess organisation, intends to join the Main Market

LIBERUM: Aptamer* - Prelims supports growth projections

LIBERUM: Aptamer* - Initiation - Build better binders

LIBERUM: Futura Medical: The Futura's coming

Update on Life Sciences expansion

Despite continued strong revenue growth from the existing Point-of-Care and Life Sciences activities, it is now apparent the new capacity expansion programme for enzymes fermentation will not contribute to revenues this year. As a result, management is now guiding to FY23 group revenues of ~£53m and Adj EBITDA of ~£10m, both around £4m lower than previous expectations. We update our forecasts accordingly and expect more information around the shape of the revenue ramp up in FY24 at the upcoming

Destiny Pharma plc+ (DEST, House Stock at 57p) - Primed to go

LIBERUM: hVIVO plc: H1 weighting translates into upgrades

Patent opposition withdrawn

POLB announced today announces that the opposition to one of its European patents (Immunomodulator I) that was filed by a third party is to be withdrawn. In the pharmaceutical industry it is not unusual for patents to be challenged. POLB had previously disclosed in September 2021 that the Immunomodulator I European patent had been opposed but this has now been resolved. We maintain our BUY recommendation and 21p PT.

Hybridan Small Cap Feast - 04 Sep 23

4th September 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 obj

Venture Life Group - Strong cash generation

Venture Life has published its interim results to the end of June 2023, reporting group revenue growth of 24.4% to £23.5m, supported by both VLG brands and Customer brands. Although gross margin was down in the period as anticipated, tight operational cost control delivered improved adjusted EBITDA margin of 18.9% (H1/22A: 17.6%). As in previous years, we expect H2/23E to deliver stronger adjusted EBITDA and maintain our £11.6m FY23 expectation. Significantly, cash flow generation was strong in

Hybridan Small Cap Feast - 14 September 23

14th September 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 ob

Interim results

Belluscura has reported interims in line with our expectations and notes strong momentum across its product range, particularly the DISCOV-R, and ‘transformational' progress in its global roll-out after signing Agreements with InnoMax and McKessen.

Destiny Pharma - Late-stage assets continue to be in focus

Destiny Pharma’s H1 2023 interim results provided an overview of what has been a busy period of positive activity for the company. The group strengthened its balance sheet through the completion of an equity fundraise, generating £7.3m in gross proceeds, ending the period with a net cash position of £9.8m. Management has guided that the current cash reserves provide an operating cash runway into Q1 2025. In our view, given the currently turbulent biotech financing environment, the successful rai

Artificial intelligence in UK biopharma and healthcare 11/09/2023

Artificial intelligence (AI) continues to accelerate at full speed, first by imitating the workings of a human brain and now it is drawing concepts of evolution, sometimes with synthetic data, artificially manufactured for training purposes or for privacy protection, and sometimes not even with human intervention. In this note, we examine how AI is being developed and applied by the NHS and UK mid/small cap companies for the benefit of human health and wellbeing. AI in drug discovery and devel

Morning Note – 20 September 2023

Creo Medical Group - Paradigm shifting

Creo Medical has reported its results for the 6 months to June 2023. As pre the recent trading update, revenues in the period were £15.7m, supported by growth from the Core Creo products and Endotherapy consumables. Gross profit increased, though gross margin declined marginally due to revenue mix. Creo’s cost base continues to fall supporting reduced operating losses. Cash at period end was £26.5m with £4.5m of R&D tax credits received post-period. The company expects to maintain its growth tra