Hardboy
11 Jul 2016
Re: Sharesoc "I didn't get the impression staff retention was an issue. I got the impression that they could easily get more researchers in the labs"I don't think it is an issue, and I don't think management have any concerns about it. What I said was I think that's the biggest threat to the business. It is only a small workforce. If half the staff have a lottery syndicate and win a few million £ and all hand their notice in at the same time; or go on holiday together and get mown down by some mad gunman on a Tunisian beach; or any other unlikely but possible scenario - that's what I see at the biggest threat to the business, as a lot of the value of the business has to be in the knowledge and experience of the staff. I'm sure they can recruit researchers fairly easily, but all the staff must have specialist knowledge and experience which would take time to replace; and you can not recruit that.
piw
09 Jun 2016
Re: Sharesoc I've just posted the video (in which nothing was edited), of the ShareSoc presentation on Monday.Hardboy, I didn't get the impression staff retention was an issue. I got the impression that they could easily get more researchers in the labs. The main barrier to entry is the time it takes to get the antibodies through the FDA (and other jurisdictions) tests, in order to get to market. This can take 3-5 years. Added to which from the little I've had to do with him, I'd be very happy to work in a company with Peter Harrison at it's helm. He appears to care, and be very good at what he does.
piw
09 Jun 2016
Video: BVXP at ShareSoc A succinct presentation, by Peter Harrison, CEO, to understand what BVXP do. • The product• Revenue streams• Stickiness of revenue• Timelines to develop revenue streams• Barriers to entry• Threats• The future A sense of the culture of the company The journey of the historic research that led to current products. The pipeline of future products. Peter Harrison is a 12% shareholder, Miton 14.5% and other institutional holders Q&A at 38:55, with questions around possible threats covering: • Impact of loss of NT proBNP, and replacement of revenues by Troponin• Technological threats• Time it’s taken to get Treponin to market• The future of company• Personalise medicine• Collaborations with other organisations
Hardboy
07 Jun 2016
Re: Sharesoc I went to the event last night. Peter Harrison (CEO) presented for about 45 minutes then took questions for about 20 minutes. He gave an overview of the business, and a product by product breakdown of where the business is & where it's going. He is obviously enthusiastic about the work they do, obviously well thought of in the industry, and a good enough manager to steer the company in the right direction. The loss of revenue from an ending licence next year is a one off - most of the royalty licenses are in perpetuity, which I'm not sure would stand up in court if clients stopped paying, but their clients are businesses they have a long term relationship with, and ones they continue to work with, so as new products are developed the income should just slowly rise and rise and rise; costs are relatively fixed (they can not expand rapidly as the market does not exist - he used the analogy of Ferraris - if Ferraris are nice and profitable why not expand the factory and make millions each year - you can't do it, because the market is not there. it's the same with BVXP's markets.) So profits should rise and rise, and therefore so should shareholder returns. For me the biggest threat to the business is staff retention - there are only 11 of them, and whilst one could be replaced as a normal business if they have a lottery syndicate and won a few million €s and all decided to leave, or if 3 or 4 were travelling together and were involved in a fatal accident, or if they are a similar age and all decided to retire at the same time - they are the kind of scenarios which seem to be the biggest threats to the business.So, simplistically there are 3 streams of income -1) Contract research - companies pay them fees to conduct research projects. This has been fairly constant level of income since the launch of the business - it is profitable and easy to manage as projects are typically 1 year. As other income increases this will become increasingly insignificant but is still good income due to the margin.2) Sale of anti-bodies - every time they develop a new antibody they get income for selling it. This income has slowly been growing over the years, and the pipeline of work suggests in should continue to grow steadily. 3) Royalty income - with each antibody they sell they get a fairly steady continued income thereafter with a fee for each time the antibody is used. Thus each time they sell a new antibody this royalty income continues. If they stropped all lab work tomorrow they should continue to receive income on these for years and years to come, so they could continue earning £4m a year employing just a book-keeper! There will be a one off reduction next year when one license expires, but the other key licenses are in perpetuity so the income should just keep flowing. With the development of new products in the pipeline this should increase over the coming years. In short this seems to be a cast iron safe as houses (or safer if you read the doom monger views of what will happen to the housing market in the event of a Brexit) secure business, which can hardly stop making money.
Hardboy
18 Apr 2016
Sharesoc Sharesoc are hosting an event on D Day (6th June) I think in Richmond (Surrey) at which Bioventix will be presenting. I'm still awaiting further details; but if anyone knows any more, would love to know the details.
mcescher
30 Mar 2016
Solid dividend player with healthy balance sheet. From this excellent report on Bioventix [link]
Hardboy
23 Mar 2016
Re: Interims 6 months turnover was 2.4m. Debtors now stands at 2.0m, so it's equivalent to around 5 months worth.I do not know the industry, but having payment terms of 3-6 months is not out of the ordinary in many industries; so it could be nothing to worry about, but I agree the sizeable increase is concerning.
Hardboy
21 Mar 2016
Re: Interims I must admit Mr. M, I had not spotted that on my quick scroll through this morning. I just noticed the cash balance had risen, so assumed cash flow was OK. I'll have another look.
MrMeerkat
21 Mar 2016
Re: Interims I agree, it's good to see such good cash generation in a company that's growing so rapidlyUnfortunately, I see that debtors, already large last time, are larger still in these interims - they represent almost the full 6 months turnover. Is there a particular reason, or does BVXP have difficulty agreeing/enforcing more typical terms, say 90 days?MM
Hardboy
21 Mar 2016
Interims Nice increase in sales, profits, dividend, & cash.A warning of loss of major income stream in 18 months as a licence expires is a negative but they seem to think they can replace it. It still looks a little expensive on a PE measure, but with profits growing at 30+% pa it deserves to be.I would hope these results should push the share price back up a bit this morning.
Moonsurfer
20 Feb 2016
Re: Is it just the market? re the sp, the bid price dropped 2 % to 1100p from 11.25p on 10th Feb. Since then the end of day bid hasn't changed. MM's have moved the mid price about a bit intra day but there hasn't really been a change day on day. I think they get bored !Moon
pancaked
16 Feb 2016
Re: Is it just the market? Thanks, charlie51.I have noticed an OEIC called 'ConBrio Sanford DeLand UK Buffettology' (now that's a mouthful!) has got this share as it's largest constituent, and is one of the larger holders in Bioventix.. Had a look at the OEIC performance and find it has grown steadily outperforming the market. Not sure how long they have held them.Anyway, I am comfortably 'up' with my Bioventix holding, so will ride it out and hope for better things to come!
charlie51
15 Feb 2016
Re: Is it just the market? No, it's not just the market. This is a very thinly traded share. In common with all thinly traded shares just one or two trades can really move the price significantly either up or down. Some days this works in your favour ,other days not. The strength of these moves is likely to be exacerbated within a very turbulent market - and we certainly have one of those just now.
pancaked
15 Feb 2016
Is it just the market? Been trying to work out why the price has dropped. Is it just 'the market' or is there something we (the ordinary private investor) does not know?I was particularly concerned, today - the market has a huge leap up, yet Bioventix has dropped almost 4% at 1 p.m.
Hardboy
14 Jan 2016
Re: Today's RNS No idea why it's not on the news tab or the company website - it was an RNS released at 7
0 this morning - I got it from the LSE site. Here it is in full: -"Regulatory Story Bioventix Plc - BVXP Investment in CardiNorReleased 070 14-Jan-2016 Bioventix plc(“Bioventix” or the “Company”
Bioventix invests in CVD diagnostics start-up CardiNorCompanies to jointly develop “missing link” Secretoneurin biomarkerOslo, January 14, Scandinavian cardiovascular diagnostics start-up CardiNor AS today announced a collaboration with leading UK antibody specialist Bioventix plc (BVXP). Under the terms of the agreement Bioventix will develop and provide antibodies for CardiNor’s new Secretoneurin (SN) IVD test. Aimed at the estimated USD 4 billion cardiovascular risk assessment market, the assay is intended for launch in early 2017. Under the terms of the agreement, Bioventix will take a 10% shareholding in CardiNor.Secretoneurin is a neuropeptide that has been shown by researchers at Akershus University Hospital, University of Oslo and Akademiska in Uppsala Sweden to be an independent CVD risk marker linked to the myocyte calcium regulation. This led to recent editorial in JACC, the Journal of Clinical Cardiology, entitled: “Will secretoneurin be the next big thing in cardiovascular risk assessment?” assessing its potential to become provide a third key frontline assay alongside troponin and BNP for cardiovascular risk assessment,“Secretoneurin has the potential to provide a far better tool for selecting patients for cardiac rhythm management” says CardiNor CEO Dag Christiansen. “The current regime lacks the desired sensitivity and specificity for patient selection. It is known that 70% of patients with an (ICD) implantable cardioverter-defibrillator do not actually need the device. This in turn causes both unnecessary patient stress and device costs of USD 10 billion. working with Bioventix utilising their antibody and ELISA expertise, to develop a simple blood-based Secretoneurin test, we believe we can dramatically change this situation and provide the missing link in CV risk assessment”.Peter Harrison, CEO of Bioventix plc said “We are delighted to be involved with CardiNor in their secretoneurin project working with both experienced industry people and world-renowned scientific experts in the CVD biomarker field. We have many years’ experience of making high affinity sheep monoclonal antibodies for various diagnostic applications including cardiac markers. We believe that our technology and experience will add to the high quality of basic research that has resulted in the secretoneurin assay project”. For further information, please contact:CardiNor As Dag Christiansen Chief Executive Officer Tel: +47 922 54 855 Bioventix plc Peter Harrison Chief Executive Officer Tel: 01252 728 001 finnCap Ltd Geoff Nash/Simon Hicks Steve Norcross Corporate Finance Corporate Broking Tel: 020 7220 0500 About CardiNor ASCardiNor is a Norwegian diagnostics company established in 2015 to commercialise research at the Akershus University Hospital into cardiovascular risk markers, in particular Secretoneurin. This neuropeptide has been shown to be implicated heavily in myocyte calcium regulation and is thus considered to have great potential in cardiac health management. The company’s management and scientific team has extensive experience in the field, having been involved in the development of numerous frontline clinical assays including BNP and Homocysteine. Lead investors are the founders and Inven2, the largest tech transfer office in the Nordic region.About Bioventix plc:Bioventix (www.bioventix.com) specialises in the development and commercial supply of high-affinity monoclonal antibodies with a primary focus on their application in clinical diagnostics, such as in automated immunoassays used in blood testing. The antibodies created at B
