Realm Therapeuticswww.realmtx.com TICKER: RLM EXCHANGE: AIM
- RLM has provided an update on the development timelines for its lead programmes confirming that following IND submission to the FDA, PR022 a potential immunomodulatory treatment for AD, is set to enter Phase IIa studies in H217, leading to an anticipated top line data readout in H118. Meanwhile, IND submission for PR013, a topical treatment for AC, is expected in Q317 subsequently leading to a Phase II study start in Q417. The timelines are in line with our estimates which could lead to eventual launch of PR013 in 2020 and of PR022 in 2021.
- Financial highlights of FY16 included a widening of R&D expenditure which rose to $5m from $1.8m in FY15 (on a continuing operations basis) as development activities advanced. Overall operating expenses increased to $8m from $6.2m, driven by R&D investments, and led to a net loss of $0.5m, including the impact of the gain on the sale of the supermarket retail business. The end of year cash position stood at $21m, higher than our forecast of $19m mainly resulting from the timing of payment of costs related to the supermarket retail business shifting to 2017. We maintain our estimate that RLM has sufficient funding, based on end of December 2016 cash, to carry out Phase II trials for PR022 and PR013 and that it would need to raise $15-20m to complete the Phase II programme.
Foreign buyers gorging on UK stocks
Document can be downloaded here: UK plc ‘going for a song’
Being a shareholder in a company that receives a juicy takeover offer is a marvellous feeling. Something that many fortunate investors have experienced over the past 3 years. Thanks to a spate of M&A bids by deep pocketed overseas buyers – partly triggered by the June 2016 Brexit result, which sent the £ tumbling and adversely affected the FTSE.
Consequently today, given this trend is unlikely to end anytime soon, we’ve highlighted 30 possible acquisition ideas in the attached research paper. Spilt equally between large and smallcap stocks – covering a broad selection of industries.
What’s more we believe most of these businesses are underpinned by strong fundamentals and substantial upside in the event of predatory interest.
According to Factset Mergerstat/BVR, the average bid premium paid for such deals between 2004-14 was 30% – with the figure trending upwards since the global financial crisis.
Happy investing. Published 27th August 2019