Futuragene Plc (FGN) has moved from £1.10 to £1.80 in just over 4 weeks. They are due to publish their results on Friday and I've noticed that in the last week the volumes have increased sharply. I can't find any news or reason for the rally. Anyone know anything? The graph looks like someone out there does.
trendie
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bidme said:
"Anyone know the reason": hasnet the news already been discounted into the current price ?
How liquid is this stock ( BUYing is easy. liquidity will determine how easy it is to SELL if things dont turn out well )
Be aware of ramping ( maybe the smart-money bought at £1.10, and now that its at £1.80, they want to cash in, by suggesting it could go further - get-in-while-its-still-cheap ).
Good luck if you decide to buy, and let us know how it goes.
Hi trendie,
I agree about your concerns over liquidity but I find that's always a worry when you deal in AIM listed stocks.
Over a million shares have changed hands today. (about £1.65mln worth) which is significant when the average daily volume is more like 100,000.
As mentioned, I've no idea what's driving these higher (hence the request for info) but not keen on the 'ramping' comment. What I would say though, is they're worth watching. It's a cutting edge company in a potentially huge market. They are trying to perfect the production of plants that can withstand extreme temparatures whilst feeding on salt water. (quite useful for those that live in africa!). Take a look at the website...
www.futuragene.com
I agree about your concerns over liquidity but I find that's always a worry when you deal in AIM listed stocks.
Over a million shares have changed hands today. (about £1.65mln worth) which is significant when the average daily volume is more like 100,000.
As mentioned, I've no idea what's driving these higher (hence the request for info) but not keen on the 'ramping' comment. What I would say though, is they're worth watching. It's a cutting edge company in a potentially huge market. They are trying to perfect the production of plants that can withstand extreme temparatures whilst feeding on salt water. (quite useful for those that live in africa!). Take a look at the website...
www.futuragene.com
They're still rising, up another 3% today.
The Interim Results from the 30th Sept were interesting, particularly the last comment on the companies outlook.....
RNS Number:4983D
Futuragene PLC
30 September 2004
FUTURAGENE PLC ("the Company")
CHAIRMAN'S STATEMENT
Interim accounts for the six months ended 30 June 2004
OVERVIEW
The purchase of Futuragene Inc, an Indiana, USA company, was approved by
shareholders at the EGM held on 14 June 2004, and completed shortly thereafter,
for an initial consideration of 16 million new ordinary shares. Should targets
be met, up to a further 29 million new ordinary shares will be issued as
additional consideration.
The Group had cash resources totalling £1,920,000 at 30 June 2004, which will be
largely used for research funding with universities in order to increase the
portfolio of intellectual property which it licences, and to further develop
crop prototypes.
FINANCIAL RESULTS
The unaudited financial results for the six months to 30 June 2004 revealed an
operating loss of £102,000 but do not include any material operating costs of
the Company's new US operations. The basic loss per share is 0.9p and on a
fully diluted basis it would be 0.7p.
No dividend is being declared but the Board is progressing with the capital
reorganisation as stated in the circular so that accumulated losses will be
eliminated and, once profitability is achieved, the Group will have the capacity
to pay dividends.
CASH FLOW AND FUNDING
The placing of 5 million shares at 38p each was completed successfully, raising
a gross sum of £1,900,000. The cash balance was £1,920,000 at 30 June 2004 of
which the Company has invested approximately £560,000 by way of a grant to
Purdue University to increase the portfolio of intellectual property and to
further our research and development programme.
Resources are considered sufficient to fund all future requirements based on the
current business model. However, the Board is considering accelerating the rate
of development of the Group's intellectual property portfolio and also
increasing the number of plants being researched and developed. To achieve this
broader accelerated programme may require additional funding. The Directors are
considering the best method of obtaining the required resources.
OUTLOOK
The Board is confident that the Group's technologies represent significant steps
forward in creating an agricultural revolution. The need for plants resistant
to abiotic stress is becoming more and more apparent, as environmental stress on
crop production inflict serious and increasing yield diminutions, which are
being exacerbated by environmental change. In the United States alone, these
stresses are estimated to cost approximately $12-$14 billion a year in crop
production losses (Source: Estimating and Economic Impact on Drought: University
of Nebraska).
We are seeing interest from a number of parties for the commercialisation of our
technology. Whilst revenue generation from crop sales is still some way off,
ornamental plants, grass etc. could be sooner. We are hopeful that a joint
venture, licensing and funded research will generate funds for further
developments in the near future.
L E V KNIFTON
Chairman
30 September 2004
The Interim Results from the 30th Sept were interesting, particularly the last comment on the companies outlook.....
RNS Number:4983D
Futuragene PLC
30 September 2004
FUTURAGENE PLC ("the Company")
CHAIRMAN'S STATEMENT
Interim accounts for the six months ended 30 June 2004
OVERVIEW
The purchase of Futuragene Inc, an Indiana, USA company, was approved by
shareholders at the EGM held on 14 June 2004, and completed shortly thereafter,
for an initial consideration of 16 million new ordinary shares. Should targets
be met, up to a further 29 million new ordinary shares will be issued as
additional consideration.
The Group had cash resources totalling £1,920,000 at 30 June 2004, which will be
largely used for research funding with universities in order to increase the
portfolio of intellectual property which it licences, and to further develop
crop prototypes.
FINANCIAL RESULTS
The unaudited financial results for the six months to 30 June 2004 revealed an
operating loss of £102,000 but do not include any material operating costs of
the Company's new US operations. The basic loss per share is 0.9p and on a
fully diluted basis it would be 0.7p.
No dividend is being declared but the Board is progressing with the capital
reorganisation as stated in the circular so that accumulated losses will be
eliminated and, once profitability is achieved, the Group will have the capacity
to pay dividends.
CASH FLOW AND FUNDING
The placing of 5 million shares at 38p each was completed successfully, raising
a gross sum of £1,900,000. The cash balance was £1,920,000 at 30 June 2004 of
which the Company has invested approximately £560,000 by way of a grant to
Purdue University to increase the portfolio of intellectual property and to
further our research and development programme.
Resources are considered sufficient to fund all future requirements based on the
current business model. However, the Board is considering accelerating the rate
of development of the Group's intellectual property portfolio and also
increasing the number of plants being researched and developed. To achieve this
broader accelerated programme may require additional funding. The Directors are
considering the best method of obtaining the required resources.
OUTLOOK
The Board is confident that the Group's technologies represent significant steps
forward in creating an agricultural revolution. The need for plants resistant
to abiotic stress is becoming more and more apparent, as environmental stress on
crop production inflict serious and increasing yield diminutions, which are
being exacerbated by environmental change. In the United States alone, these
stresses are estimated to cost approximately $12-$14 billion a year in crop
production losses (Source: Estimating and Economic Impact on Drought: University
of Nebraska).
We are seeing interest from a number of parties for the commercialisation of our
technology. Whilst revenue generation from crop sales is still some way off,
ornamental plants, grass etc. could be sooner. We are hopeful that a joint
venture, licensing and funded research will generate funds for further
developments in the near future.
L E V KNIFTON
Chairman
30 September 2004
interesting biotech company.
Since October when the posts stopped the stock has fallen back from a peak of 222 to 175 from what I can see. Cant find anything concrete regarding new business but the potential seems massive. I guess there value is in their rights/patents..I quote from newsfeed:
"FuturaGene obtained exclusive rights to commercialize their gene discoveries, which decode the plant genome to produce varieties of crops resistant to traditionally hostile environments - such as heavily salinated (salty) soil, drought, frost and fungal attack - while avoiding the introduction of foreign genes into plant species."
Comdirect Quote: 170/185 !!
Since October when the posts stopped the stock has fallen back from a peak of 222 to 175 from what I can see. Cant find anything concrete regarding new business but the potential seems massive. I guess there value is in their rights/patents..I quote from newsfeed:
"FuturaGene obtained exclusive rights to commercialize their gene discoveries, which decode the plant genome to produce varieties of crops resistant to traditionally hostile environments - such as heavily salinated (salty) soil, drought, frost and fungal attack - while avoiding the introduction of foreign genes into plant species."
Comdirect Quote: 170/185 !!
