I have just come across this absolute gem. I don't normally get this excited, but must share it with others. Cobra is the name, listed on Aim and a market cap of 30 million. Just been awarded a US patent for a system that allows people to take previously injected drugs in tablet form. Already profitable was floated off from MLB last year (and given their fundraising today they may regret ever letting this one go).
Collins Stewart are predicting 1.8 million this year and 3.1 million next year, though i can see those numbers being left behind. The company is both exciting and defensive because some of the products that can be taken are against cancer, anthrax and other potentially fatal diseases. (Hoping of course there will never be another terrorist outrage but even then this stock would be one to have onside.) Turnover has doubled in the last twelve months and the potential really is amazing. Biotechs not usually my style but this one is already profitable and i just have to have some in my portfolio.

I like smaller plays Hawick.

I found this one on Ofex three or four days ago, looks to have huge potential to me.

Here is my post at the time:

I Liked MMG & Enact on Ofex, however not a fan of Ximed or Biogeny.

However there is another one.

105 year old company that probably a few haven't noticed has changed direction, Relugas as was, changed in 2000 & then no one has been interested as the bear market has taken hold.


However, the best time to take stakes is to invest when no one wants to invest, because you will get value ....since then since march last year the market has picked up strongly.

Look at MMG up 8 fold, Protherics (ex Enact) rise every month, Ximed has zoomed to 21m mkt cap.


This company is valued at a tiny 0.72m, but has 4 investments so far,(with 2 more to come i believe) net cash, & assets include investments at cost.

I quote

quote:
--------------------------------------------------------------------------------
It seems that diagnostics has now
become rather more attractive to early stage investors so there is some
investor competition for new businesses holding strong patents on particularly
attractive prospects.


--------------------------------------------------------------------------------



Furthermore it may raise a significant sum of cash...I quote:

quote:
--------------------------------------------------------------------------------
However, as I stated at the time of the interim figures, your directors are
very aware that our company needs to raise a substantial fund to take advantage
of some of the more interesting biotechnology/life sciences prospects.
Unfortunately the market for raising funds has been particularly difficult
during the past eighteen months but there are now signs of a more positive
sentiment especially following the substantial amount of money raised by
Schroder Ventures for this sector a few weeks ago. We have already prepared an
Information Memorandum as a draft for a significant fund raising as soon as
conditions are appropriate.

--------------------------------------------------------------------------------



So it may become much more highlighted on investors radar screens on the above completion.



Furthermore it has some exciting investments which must have patents & IP & has turned down over 250 from various prominent Universities throughout the country.


One for instance which has a much shorter lead time for start up & revenue generation is Bio Analysis

A spin out from Oxford University it offers a Bio Analytical service to pharmaceuticals for the measurement of monoclonal antibodies in clinical trial studies....mono antibodies are a rapidly growing sector and the drugs whose development is extremely demanding offer some of the most effective new treatments for a wider range of disease.

Cherwell owns 9.2% of this Co & as I say it's at cost in the balance sheet.


It also has a 3% stake in a company that develops a miniaturised satellite location & tracking device with built in telemetry. Applications can monitor valuable goods, children, people with Altzimers etc.

Another stake is in a company which helps the brain learn languages easier.

For more information download the Annual report from the Ofex site.

Also commitments for another 2 investments.




It occurs to me, while all other stocks have had a re-rating in this sector Cherwell may have been ignored,

1) It was a different Co for 102 years.
2) It changed direction just three years ago when big bear started
3) Who knows of it as a pure Bio play (see Ofex for accurate description)


So for me you can keep your 21m mkt cap Ximed...not saying it won't do well, but the excitement of a 720,000 mkt cap, with blue sky potential is more my cup of tea.


To my mind the stakes although I can't say with expert opinion, are probably way more valuable than the balance sheet suggests, but of course, they may be worth very little, it appears they have close links with the University of Oxford & indeed have a small Office in the City, so they may have a close relationship, this in itself is adds value in my opinion.


Also Note running cost are very reasonable, a company with a long history & then chnage of direction is just the sort of situation that sometimes (but only sometimes) develops into a very decent winner.


Stock is basis price, so may be difficult to buy & sell. (BASIS price has been removed & the stock has been traded every day since I posted as opposed to about three times in three years)

With respect this thread is about Cobra. Yours sounds too early stage for me Third Eye, meaningful profits may easily be ten years away, if indeed any of their investments come off, Cobra already making money. i look forward to reading your thread on Cherwell if you start one. Good luck with it though.

Cobra or not, it's another biotech to look at, far earlier stage, but for those who do just a little bit of real homework, may be pleasantly surprised.

Yours may be making money, but for that you have to pay a thirty+ fold premium.


Lots more upside in undiscovered tiny Cherwell imo.


More research on UQ where I think you post as Scotland.

cobra im in this one. report in that free newsletter the monday one i think.
good write up there, good pick.

Cheers jockburns, had a business colleague run the eye over this one, likes what he sees. Will be adding to my position. Particularly like the anti-terrorism angle too.Which newsletter?

Rare to see any bio on a prospective p/e of 10 as CBF is!! Lots are in the hundreds, particularly in the US. The potential for the tablet particularly appeals to my needlephobia! (Sure there must be a word for needlephobia!). Reminds me of my Share of year for 2003 Hollis Eden, which rosse 600% at one stage (not saying this will do that!), but stacks more upside here.

Perhaps Mr griffiths on UK-A hasn't heard of Cobra, otherwise why tip Proteome (Proteome: 6 million cash break even 2005 market cap 228 million) instead of Cobra (profitable now, doubled turnover, new patent, 7 million cash, market cap 28 million, same sector).
Crikey Andrew, sure proteome is a fine stock. But i know which I prefer. Gimme Cobra anytime!!

Latest recommendation - last week Evolution Beeson Gregory Ltd 02/03/2004 ADD

Anybody inerested in this stock? any views on current price looks cheap!

Hawick said "I have just come across this absolute gem. I don't normally get this excited"

It was about 150p when you posted hawick, are you excited at the now 30p offer?

TIA.

I told people elsewhere to get out when things started going wrong and it fell to 120p. Admittedly I did not update that suggestion on here, which was remiss, but I did say sell, very clearly, elsewhere. Management let people down very badly.

Just goes to show its a personal thing with thirdeye why else post on this thread, if I or Hawick were to expose the many and I mean many share tips that have gone belly up that Thirdeye as recommended we would have an awfull long list.

I say stop this silly childlike behaviour thirdeye, you are spoling this board.

GF don't worry about it, Third Eye only tends to tell people when to buy. When it comes to advising on his sales he is less diligent it seems. Have you sold Spectrum yet which you advised people to buy on here at 25p (now c13p), or are you still holding, Third Eye?

No blatent lies please hawick. Spectrum was advised to buy @ 12.5p when I bought, & that was another site (Unqouted) nothing to do with Cobra whatsover.

Shouldn't we be talking about cobra on this thread instead of diverting attention?

Gents,

As before, stick to the share and not fellow posters.

Ian

10 Dec'03 - 23:26 - 117 of 194
Well here's another for you Spectrum on Ofex a great recovery stock. Currently circa 20p....well worth checking out

Just for the record Ian, Third Eye said the above to money am readers. Not 25p, (though he must have thought it worth it to advise people to look at 20p, knowing its spread probably at least 21p to buy) but most certainly a lot further from 12.5p. now 13.75p. I note he has finally been banned from unquoted.

Ian I sent you a p-m a couple of weeks ago btw.

Now happy to return thread to Cobra, and accept i should have advised people to sell here when I clearly said sell elsewhere at 120p; (which is what i did).

Harwick,

I will be monitoring this thread from now on.

Ian

What has Spectrum got to do with this thread?

Worth looking at, doesn't say Buy, iyt says Worth looking at.

I bought at 12.5p & a search on Unquoted will verify this.


In fact I rarely say buy anbout any stock, although I have about Britannia up 355% & did about Sion up 300% in the bear market.

Hopefully this thread will now return to Cobra rather than Third Eye?

- this thread is COBRA - Hawick CBF was one you were excited about in Jan04 about 1.20 I think - now some bad news has been received, what is your take and DID you invest in Jan? -

Hangon you clearly have not read the whole thread. I was keen at 140p and said sell at 120p. Britannic have reduced their holding to just under a million. if they want shot of the rest that will continue to create overhang even at this level. Not time to look again and management needs to be shaken up meantime. Profit warning said break even then a loss of 1.8 million got announced.........

A bit of advice hawick, if you want to defend yourself that you said sell, any chance you could actually post it on MoneyAM rather than investors guess to which bulletin board you might have posted it on?









(Same for your rec on Cobra under Scotland on Aimquoted would be useful too btw)

ADMINISTRATORS you said you were watching this thread well surely the last post by thirdeye goes over the top and is not about the company but is a persional attack, just how long is it going to go before you give him his 3rd warning and deprive him of his posting rights?????????????????????????.

cheers GF.

Maybe you should both stop attacking each other? It's getting a little tedious here.

All,

I have watched this dispute across several threads for the past few weeks, and have had cause to comment on a number of occassions, as several posters have over stepped the mark. This has been the case for all involved on both sides of the discussion.

I am issuing a final warning for all those who have been involved - If I have cause to intervene with regard to any poster again, I will remove their access to these boards for a period of 24 hours. If I then have cause to warn that person any further I will remove their access from this part of the website completely.

I hope that I have made myself clear, and I hope that you all have a good day.

Regards

Ian Taylor
Customer Support Manager
MoneyAM

Leaving all other things aside this is a Bio-tech that is producing product in several areas. I think it was a part of ML Labs and some have suggested they should not have sold this business. The reduction in shareholding by Britannic is hardly a source of panic, having increased their holding some months ago to 6%+ their new holding is only just under 5% hardly likely to create an overhang or did the MM's panic?
Today, a Director bought 20,000 shares - OK not really newsworthy amount but it shows something. Hardly panic selling and I note the price is up 5%.
I class this small Bio along with Protherics (ie actually selling their stuff) - the fall-back in [CBF] US operation is unfortunate and has prompted this crisis IMHO - but many companies have dissapointments. I just don't think the Market read the earlier RNS since there is nothing "new" - that's my take.
I have bought at 29p so with spread I still not in profit, but hey it's only the first day.
I didn't understand "why" you thought it was a sell, was it the "warning" that alarmed you? The share-price had increased quite a bit, so maybe it was a tad overvalued. Now, though the NAV is 54p and the cash per share is above the Market price; can this be so bad right now?
I think it's been oversold but there is still a risk some other news is yet to be flushed out. However with such a fall it looks safe to me - I hope so.

You're right I read only the first page of comments - from Jan04 so this seemed reasonable to me.

Thank you for such an intelligent and cogent reply hangon, would someone else.......

I thought it a sell at 120p after the warning, which talked of break even. And then the loss came in at 1.8 million which did nothing for my confidence! Institutions are awfully slow to forgive and I feel management have let down investors badly. Trust is a key factor in share price performance and right now Cobra (rather like Raft) faces a big uphill struggle to win that back. Talk of sorting things out seems vague and that worries me from this managment! It'll be ok in 2005 all seems as i say vague.

All that said; you are spot on. A Director has bought. The nav is over 50p including a healthy cash position (but they cannot afford to continue burning it like they have done). And most likelable are some of the patents especially the syringe free ones.

There is hope therefore, and hence my interest (not financial) continues at these levels, but i would not buy back until i see some real evidence through at least one, preferably two, of the following: newsflow, numbers or management changes, of a turnaround.

Thanks, Hawick. You may be right yet about management, but I think there is a clear distinction between management that is after share-price growth (by newsflow) and those that are growing a sensible business.
Leaving Options aside, the salaries these Directors receive is not massive. Indeed considering the "cash" position and sales/turnover, they are modest. There are plenty of other AIM stocks that could learn from these people - don't kill the Goose until it's well laying!
AS far as the News is concerned I'm of the opinion they expected the US sales to increase as they had earlier, maybe not being "close-enough" to their customers to realise purchases would fluctuate. The Management is probably focused on "Bio" - rather than "Sales" - for which they may need to recruit someone that is already close to their target market and living there.
When a Company is experienced in one area (Bio) it doesn't give them enough skill in pandering to the Market/Brokers/City/Investors....we each see things differently. Way back in Feb they told the Market about the fall-off - and whilst your interpretation was spot-on I wonder if that was about the Market "perception" (in these troubled times) rather than a real fall in the Company fundamentals?
The Q in my mind should be to those who were buying the Stock in Dec03/Jan04 (incl the New Director), when the price was 1.30 level - were they buying the Company, or a slice of anticipated profit. ( maybe a bit of both)
Now with one sector of their business lower, and some effect on profit, is the current price all the business is worth? ( Let's assume there is "no" profit this year!).
I think this will concentrate Management into see that they have two businesses:
1) The development of Bio products, research etc and
2)Developing repeat Sales and being cosy with the customer needs (this is not done easily)
It may take a year or two, but by then the business will be Motoring IMHO and cbf should have a potential TO or at least a well-oiled source of dividend.
They have only been in existance a short while and are showing good signs of flowering - many other AIM stocks are all promises with little rootstock and Directors bleeding the thing dry.
I hope that CBF will be one to stay the course, so that Directors and staff will collect their well-earned Pensions.

I'm sorry you are holding-off for now, since this knock may cause a retraction of the shareprice for some while. Indeed it is rare for a small company to recover more that 50% of the drop - so roughly 60p ( put 20p spread on this ) - but then some of their products are closely aligned with the World News and this may be a substantial revenue-stream: Management should not rely on this, but should seek to broaden their customer-base. The News (tues),about African Debt and Aids could be a substantial boost to companies active in this treatment. Where else can you buy a slice of this action for 30p, by a Company that seems to be honest and frugal?
By way of a caution it would be nice to hear any statement from the Company.
Regards

What is Ian Taylor complaining about? hawick's post read OK to me/
/
Further thoughts: Cobra BioManufacturing
Looking at the sharegraph I notice that there is a trend down (towards?) 1 from an earlier high (presumably the post-launch good-time) - If we ignore the hump centred arround DEC03 - which was a long-term blip IMHO since it was being fueled by the expectation of huge sales which had already started.
In Feb04 reality took over and the price ignored this hump (which was now all dashed hope)- to settle at 60p -ish. When the May04 figures came out the Market had been hoping Management would say - "...it's all OK chaps, profits are rolling..."
Yet in reality the Hump was a temporary illusion, gone in a flash like the sales, and what the company is doing now is to develop their other strengths - something perhaps they should have done from day1 - but when you are selling good stuf to a customer it is hard to divert your attention to a small prospect - no-one will thank you if the big order is lost.
The jury is out on this one, although I for one am hoping - but they have a new facility in Oxford (it was the old British Bio plant I understand), so there is a chance that the recent Rights Issue (at 80p ouch!)...is being used to build capacity for the future. That can't be a bad thing - just have to wait a little longer for those profits....now when punters sent off their cheques for shares at 80p were they thinking these shares are bound to go higher? Of course they did - so why not top-up with say 20% of whatever you paid and buy another 60% of the new issue.
Suppose you bought 1000 shares at the rights issue (=800) then 20% is 160 = say 533 ignoring charges. So for 1Grand you have 1533 shares - that's about 65pence each - not a bad discount to the 80p you thought was good value.
.The sooner you buy them the better, for others may spot this logical bargain.... of course, if you now think Management is incompetant..... but I think they are telling it as it is. With little experience at giving Bad News, it's not surprising they have ruffled the market.....now they need to slowly build on their strengths and get their other technologies to the Customers' attention.
I note that rival Investors Chronicle said SELL ( having been a bit bullish only recently) whereas I think Shares said Hold; I can't see the logic in selling now the price is so low - that advice might have been sound at 60p, but now the Market has over-reacted IMHO, so selling will only crystalise a loss that (should) be reversed in the comming months. The shares are up from last week after some small purchases from Directors - in total 27k - but considering these Directors are not paid much (good?) they are at least showing some signs of confidence....the shares are likely to drift up over the comming months again IMHO. It may be a long wait as the Market is obviously not amused.

these are too cheap now. Another director buy yesterday,(they must know the figures 3 months to June & the orders for the next three months) plus this news from their website yesterday which didn't seem to make an RNS.

28 June 2004

Cobra Biomanufacturing signs agreement to manufacture Coleys Toxin

Ludwig Institute for Cancer Research and the Cancer Research Institute to develop cancer vaccine

Cobra Biomanufacturing Plc, the International manufacturer of biopharmaceuticals, announced an agreement between the Ludwig Institute for Cancer Research and its collaborator the Cancer Research Institute to produce Coleys Toxin cancer vaccine for clinical trials.

Cancer vaccines direct the immune system to eliminate tumours and are re-emerging as candidates for cancer therapy. Cobra will produce Coleys Toxin from two different bacteria under controlled conditions. A modern and regulatory compliant manufacturing process for the vaccine has been developed, and state of the art monitoring will be utilized to assess the vaccines immunological efficacy. The entire project is scheduled to take 6 months.

David Thatcher, Chief Executive of Cobra Biomanufacturing, commented:

We are delighted that the Ludwig Institute for Cancer Research and its collaborator the Cancer Research Institute, have chosen Cobra as its manufacturing partner. Both Institutes have a strong international scientific reputation and are at the forefront of developing improved cancer therapies.

Dr Gerd Ritter, Associate Director of the Ludwig Institutes Office of Clinical Trials Management commented:

"Cobra has an impressive track record in the safe and effective manufacture of diverse biologicals. We were impressed by the Cobra teams innovative approaches for the manufacture of this challenging microbial cancer vaccine, and as an academic organization we liked its partnership style of working. We look forward to a successful collaboration."

- ENDS -

Director buying of late has been disapointing. This most-recent is barely into four figures....a real statement with ca 50k+ is what I'm looking for. "Sell the kids + car etc. slap it on the Company".
Interesting RNS, so thanks Thirdeye for drawing attention to it, seems they can deal with the day to day stuff as one would hope. I am a holder of this stock.

Hi hangon sorry I didn't get back to you. Good post. It is still an investment psychology thing, for me. They gave a warning, said they'd break even and lost 1.8 million. The cashburn is a concern and i can't see institutions giving this a look again until management prove themselves to the City.

As you say they seem able to handle the day to day business but that is a small start to a very long repair job. It is on my watchlist but I'd hate to jump in too early and then see they have still not got a grip at the next results, because then the price could go through the floor, even from here another 50%.

Better managements elsewhere more worthy of support imho, for now. Could see these break below 20p in next few months, then if next results indicate a recovery I might be interested again. Good luck though, promising products and patents, some cash.

Be nice if some posters checked their facts to see how much they actually did lose second half, no wonder they sold :-)


Hangon, CBF expect a meaningful improvement in the second half, so that would have to result in a profit if it materialises.

Furthermore I look at CBF like this, some were attracted with a 30m valuation, now you can buy your share for pro-rata circa 5m, what have you lost for saving circa 25m?

Well, 1.2m loss, & a big downturn in the DNA section. However there are three other sectors in this infant business which are still growing strongly.


On a risk reward basis, it's speculative, but a pretty good gamble in my opinion.



Also you can buy at mid price, market makers are looking for business in these quiet times so, negotiation should take place & the spread shouldn't put anyone off, only for those who have done their own research though.




To summarise a 25m saving (at one sixth of the price it was) in paying for the company in an exciting infant industry, appears a fair speculation to me.

Or put another way: .....stripping cash out at least at March interims using today's market cap of circa 5m, the business is valued at 1.2m ( circa)


So for a business that was valued at say 25m (excluding cash) is now valued at 1/20th @ circa 1.2m.

Falling back again, failing to hold recent lows. No worthwhile support from institutional backers, loss of faith in management.

I hope for all investors the next results can start the repair job. But mms must be stuck with a mountain of unwanted stock. Worth waiting to get these at still significantly lower level, if the institutions eventually return.

Sorry hangon to be so down on this one, but it looks a long road ahead. I really do hope to get back in again at some point. Up to management to prove themselves first, at least for me.

I Agree the institutions may be holding back; but with the slipping price Directors today (Wed.7July04) have been pretty active. With earlier Dir. buys this shows support at least for the cash (24p rumoured) and the Co. future.
My buy-price is now just under today's spread. Yipee - er, soon. The company has announced some deals and I'm still hoping there will be more to follow....it would be foolish to think they are not aware of the damage the loss of a large chunk of business has on sentiment. I guess most punters expected a rabbit to be pulled from the hat... it wasn't.
Sadly in the real World, sales are the result of long negotiations and cosy-ing with the customer. Only Blue-Sky companies can see sales reaching telephone numbers year-on-year and like Mugs we believe figures "plucked from the wind".
Cobra is, IMHO a worthwhile producer of real products. Their (recent)additional capacity is in-part testament to that. Regards

I read that the Directors have lathered themselves with Options - pity they don't have time to steer the Company at this critical time ( ie since about the beginning of 2004), with many having supported them close to 1, these creatures have set the Option price below 1/3rd of this - must make the City look pretty stupid - let's hope they are forgiven in the next couple of years.

Isn't it about time Options were outlawed, unless the suggestion is "from the floor" at an agm when a well-loved director is retiring on low-pay?
Grr!

Ok, you have talked me into it. Bought a few today.

Shares Mag wrote this article last year. They were evidently too optimistic at that time, but how much has really changed. That last RNS said their forward order book had doubled, so where do we go from here? Maybe SM will follow up on last years arcticle. Interesting times ahead.


Shares Magazine-Plays of the Week 5/6/03
Cobra Bio-Manufacturing (AIM:CBF) - 98p Buy by: Timon Day Investors looking for plays on vaccines for AIDS and other virulent viruses can take a punt on Cobra. Now looks a good time as investor interest in the bombed-out biotech sector is rapidly reviving with shares such as Oxford Biomedica (OXB) doubling since March.
Demerged from ML Laboratories a year ago at 103p, the shares are now nearly back to where they were and optimists say they could go much, much higher if one of their customers succeeds in developing an AIDS vaccine.
The US says it will spend 5 billion fighting AIDS in Africa and Bill Gates is spending around $500 million through his International Aids Vaccines Institute (IAVI). Cobra made IAVIs anti-AIDS vaccine for the Phase 2 trials. If positive, a Phase 3 trial will start next year which could lead to the drug winning FDA approval in a couple of years time.
Cobra currently only makes small batches of drugs for Phase 1 and 2 trials, but could expand capacity or contract out manufacture. Big drug companies like Cobras leading DNA and virus products manufacturing technology.
IAVI is understood to have granted Cobra a royalty on sales of its AIDS vaccine. If the vaccine goes on sale, Cobra will reap substantial profits.
The same is true for other customers such as the South African AIDS Vaccine Initiative (SAAVI) and Mayne Pharma, an Australian company, with which a long-term manufacturing agreement was signed six months ago to produce a novel genetically engineered virus.
Last November, Cobra opened a US sales office in Chicago. The US accounts for more than 70% of the world market for biopharmaceuticals. Progress is encouraging with US orders of $2.2 million to date compared with $900,000 for the whole of the previous year.
The recent sale of 6.5 million shares at 80p was eight times over-subscribed and the net proceeds of 4.7 million will be used to double capacity through the purchase of a 15,000 manufacturing facility in Oxford. Happily, parent ML has slashed its stake from 46% to just 5%, leaving its offspring to grow unfettered.
Cobra boasts several high-calibre institutional investors led by Fidelity Investments with just under 10%, Standard Life with almost 8% and Legg Mason with almost 7%. The best thing about Cobra is that its basic drug making business is expected to see profits of 1 million this year soaring to 1.6 million next year and 3 million to September 2005 dropping the untaxed PE to 6. Royalties and technology transfer payments, if a vaccine goes on sale, are the icing on the cake which could boost profits several times. Zuzanna Day, wife of the author, owns shares in Cobra.
Shares Summary Cobra shares are a lower-risk punt in the biotech sector. The business plan is ahead of schedule, ML is history and AIDS vaccines promise mega profit potential. Business: Biopharmaceutical products manufacturer Vital stats: Market capitalisation: 19m Historic PE Sep to 02: losses Prospective PE to Sep 03: 18 Prospective PE to Sep 04: 12 No dividend

AFX 7/10/04


LONDON (AFX) - Cobra Bio-Manufacturing PLC said it sees its year to September loss 'at the bottom end of market forecasts'.

In a trading statement, the biopharmaceutival manufacturing company said its second half sales were 30 pct higher than its first half sales.

'Losses for the year are anticipated to be at the bottom end of market forecasts, however the company's cash resources are well in excess of forecasts as a result of balancing costs and demand,' it said.

Cobra said its confirmed forward order book for the current half year is more than double the position at this time last year. Confirmed orders from North America are improving.

'There is still much ground to be made up against previous expectations for the company but with the current increase in contracted business, the year to September 2005 should see Cobra regaining momentum,' the group said.

email: newsdesk@afxnews.com

jm/

Hawick if your still around could you put some charts in the header, ta

Max online buy via Barclays has just dropped to 7.5K. This was 60K a while ago. A big buyer in the background perhaps or MMs just playing games?

Last years results were released on 2 December. With a doubled order book since then, this stock is looking cheap as chips.

Cobra Bio-Manufacturing PLC
02 December 2003

For Immediate Release 2 December 2003

Cobra Biomanufacturing Plc
Preliminary Results
for the year ended 30 September 2003

Cobra Biomanufacturing Plc, the international manufacturer of
biopharmaceuticals, today announces its preliminary results for the twelve
months ended 30 September 2003.

Highlights

Operational:
June 2003 Acquisition of additional biological manufacturing capacity
June 2003 Placing and open offer raised 5.2m before expenses
Major progress in the US during 2003 revenue up 158%
24 global customers, 27 programmes ongoing

Financial:
Manufacturing revenue up 137% to 6.0 million (2002: 2.5 million)
Profit before tax 0.8 million (2002: 0.9 million loss)
Profit after tax 1.0 million (2002: 0.1 million profit)
EPS up 590% to 6.9 pence (2002: 1.0 pence)
Increase in gross margin to 57% (2002: 34%)
Cash at bank 7.3 million (2002: 2.6 million)

Commenting on the results, Peter Fothergill, Executive Chairman said:
'We are extremely pleased with the excellent progress Cobra has made throughout
the year. The placing in June 2003 was well over subscribed and we look forward
to the additional facilities coming on-line in 2004. Together with the increase
in repeat business from existing clients and our strong headway in the US
market, 2004 promises to be an exciting year for Cobra.

It will be interesting to see how the next set of results compare to last years figures.

Financial:
Manufacturing revenue up 137% to 6.0 million (2002: 2.5 million)
Profit before tax 0.8 million (2002: 0.9 million loss)
Profit after tax 1.0 million (2002: 0.1 million profit)
EPS up 590% to 6.9 pence (2002: 1.0 pence)
Increase in gross margin to 57% (2002: 34%)
Cash at bank 7.3 million (2002: 2.6 million)

Nice tick up today. Results are due in a couple of weeks. Net assets are shown in last year's accounts as 10,549,007 million, equivalent to 58.5p per share. This together with doubled turnover makes this stock worth every penny of today's price

Another tick up. Hold tight and enjoy the ride!

From another BB concerning a recent broker note from Durlachers:

gist of Durlachers note...

CBF were one of Durlachers tips for 2004 with a price of 1.38!!
They mention that since the profit warnings of earlier this year, that many institutions have decreased their holdings, however Fidelity have gone against the grain and added over this period. They estimate net cash will be approx 2.5 million come the results.

What is most interesting is that they confirm that whereas previously CBF based/relied upon forward revenues on contracts/orders that weren't confirmed, they have now changed their policy to only include those orders that are. Hence the confirmed order book (mentioned from the trading update) for the current half year is exactly that - CONFIRMED! And, as we know, it is already double that of the same period last year...

Durlacher advise that clients should continue to hold for recovery...

Another big rise today. I can almost feel the G Forces

Top % Gainers
# EPIC Name Price Chg %

11 CBF Cobra Bio-man. Ord 10p 43.5 4.0 10.13

Top % Gainers
# EPIC Name Price Chg %

4 CBF Cobra Bio-man. Ord 10p 46.5 7.0 17.72

This is the second time I have invested in Cobra, the first time I got my fingers burn't and ducked out. I have recently got back in and I am already in healthy profit. Does anyone have any idea how far they can go? back to last year high 1.40? Any news would be handy

Jacks: Results are due on 11 January. They should be good.

Cobra Bio-Manufacturing PLC
29 November 2004

Immediate Release 29 November 2004

Cobra Biomanufacturing Plc

PRELIMINARY RESULTS ANNOUNCEMENT DATE

Keele, UK: Cobra Biomanufacturing plc (AIM: CBF), the international manufacturer
of biopharmaceuticals, will announce it Preliminary Results for the year ended
30 September 2004 on 11 January 2005. A briefing for analysts will be held at
Buchanan Communications, 107 Cheapside, London at 10 am.

AFX 7/10/04
LONDON (AFX) - Cobra Bio-Manufacturing PLC said it sees its year to September loss 'at the bottom end of market forecasts'.

In a trading statement, the biopharmaceutival manufacturing company said its second half sales were 30 pct higher than its first half sales.

'Losses for the year are anticipated to be at the bottom end of market forecasts, however the company's cash resources are well in excess of forecasts as a result of balancing costs and demand,' it said.

Cobra said its confirmed forward order book for the current half year is more than double the position at this time last year. Confirmed orders from North America are improving.

'There is still much ground to be made up against previous expectations for the company but with the current increase in contracted business, the year to September 2005 should see Cobra regaining momentum,' the group said.

Cobra's had a busy year. From their website:http://www.cobrabio.com/news.htm

News
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16 Dec 2004 Appointment of Adviser
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30 Nov 2004 Cobra increases quality capabilities and further strengthens compliance with the latest EC clinical trials directive - Nick Hill appointed as Director of Quality, Oxford
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29 Nov 2004 Preliminary Results Announcement Date
--------------------------------------------------------------------------------
7 Oct 2004 Trading Update
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30 Sep 2004 Cobra Biomanufacturing appoints Cathy Smith to strengthen North America Sales
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9 Aug 2004 Cobra authorised to manufacture broad range of biopharmaceuticals for European Clinical trials
--------------------------------------------------------------------------------
28 Jun 2004 Cobra Biomanufacturing signs agreement to manufacture Coleys Toxin
--------------------------------------------------------------------------------
2 Jun 2004 Interim results for the six months ended 31 March 2004
--------------------------------------------------------------------------------
19 Apr 2004 Cobra Awarded US Patent for Manufacture of Biopharmaceuticals
--------------------------------------------------------------------------------
5 Apr 2004 Cobra Signs Agreement to Manufacture Reolysin for Oncolytics Biotech Inc
--------------------------------------------------------------------------------
30 Mar 2004 Cobra Licenses DNA Manufacturing Technology to AstraZeneca
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9 Mar 2004 Cobra Signs Agreement to Manufacture Avidex First Monoclonal T Cell Receptors
--------------------------------------------------------------------------------
26 Feb 2004 Annual General Meeting
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9 Feb 2004 Trading Update
--------------------------------------------------------------------------------
19 Jan 2004 Cobra Awarded Key US Patent for Oral Vaccine

Top % Gainers
# EPIC Name Price Chg %

22 CBF Cobra Bio-man. Ord 10p 42.0 2.0 5.0

Top % Gainers
# EPIC Name Price Chg

21 CBF Cobra Bio-man. Ord 10p 42.25 2.25 5.62

Cobra Bio-Manufacturing plc

Name of shareholder having a major interest

Fidelity International Limited and its direct and indirect subsidiaries

818,400 Ordinary Shares

Total percentage holding of issued class following this notification

4.20%

We have to remember why this stock fell from around 1.40 per share. It was simply due to delayed orders that have since come through in the second half of 2004. This is one of the orders that subsequently appeared in June:

28 June 2004

Cobra Biomanufacturing signs agreement to manufacture Coleys Toxin

Ludwig Institute for Cancer Research and the Cancer Research Institute to develop cancer vaccine

Cobra Biomanufacturing Plc, the International manufacturer of biopharmaceuticals, announced an agreement between the Ludwig Institute for Cancer Research and its collaborator the Cancer Research Institute to produce Coleys Toxin cancer vaccine for clinical trials.

Cancer vaccines direct the immune system to eliminate tumours and are re-emerging as candidates for cancer therapy. Cobra will produce Coleys Toxin from two different bacteria under controlled conditions. A modern and regulatory compliant manufacturing process for the vaccine has been developed, and state of the art monitoring will be utilized to assess the vaccines immunological efficacy. The entire project is scheduled to take 6 months.

David Thatcher, Chief Executive of Cobra Biomanufacturing, commented:

We are delighted that the Ludwig Institute for Cancer Research and its collaborator the Cancer Research Institute, have chosen Cobra as its manufacturing partner. Both Institutes have a strong international scientific reputation and are at the forefront of developing improved cancer therapies.

Dr Gerd Ritter, Associate Director of the Ludwig Institutes Office of Clinical Trials Management commented:

"Cobra has an impressive track record in the safe and effective manufacture of diverse biologicals. We were impressed by the Cobra teams innovative approaches for the manufacture of this challenging microbial cancer vaccine, and as an academic organization we liked its partnership style of working. We look forward to a successful collaboration."

Cobra Biomanufacturing plc (AIM: CBF), the international manufacturer
of biopharmaceuticals, will announce it Preliminary Results for the year ended
30 September 2004 on 11 January 2005

As Cobra intend briefing analysts on the 11th, we should get an interesting RNS with the interims. All bodes well for an encouraging statement.

PRELIMINARY RESULTS ANNOUNCEMENT DATE
Keele, UK: Cobra Biomanufacturing plc (AIM: CBF), the international manufacturer
of biopharmaceuticals, will announce it Preliminary Results for the year ended
30 September 2004 on 11 January 2005. A briefing for analysts will be held at
Buchanan Communications, 107 Cheapside, London at 10 am.

Grevis2, many thanks for the update. I hope and believe they can again go over 1.00, but it's always good to hear from a fellow investor who also has fiath.

Jacks:

I'm encouraged by two things, Fidelity's holding and CBF's last statement which was very positive. "..Cobra said its confirmed forward order book for the current half year is more than double the position at this time last year."

With their results due next week, I would expect to see interest focused on this stock for a while.

Morning all. All very quiet on here today. That's somewhat surprising as CBF is due to announce its results next Tuesday. As you are aware there will also be presentation to a group of investment analysts at 10.00AM on the same day. CBF's last statement was very bullish so keep an eye on this stock over the next few days.

Results due on Tuesday 11 January 2005. They should show that recovery has continued.

AFX 7/10/04

In a trading statement, the biopharmaceutival manufacturing company said its second half sales were 30 pct higher than its first half sales.

Cobra said its confirmed forward order book for the current half year is more than double the position at this time last year. Confirmed orders from North America are improving.

Top % Gainers
# EPIC Name Price Chg %

15 CBF Cobra Bio-man. Ord 10p 47.25 3.25 7.39

From another BB:

(Some news today from Evolutec about director appointment and development of early stage products, Cobra have very close manufacturing/business links with Evolutec see below, also D. Bloxham who is CEO of Evolutec and is an board memeber of CBF, there appears to be every possibilty of Cobra getting further work from Evolutec based on their expertise in manufacturing rEV131 which is a novel lipocalin protein and is derived from tick salivary glands by recombinant technology.)

http://www.cobrabio.com/prs/061102.htm
Evolutec, the biotechnology company specialising in the discovery and development of novel therapeutic products from parasites is to begin Phase I/II clinical trials with rEV131, its treatment for allergic and inflammatory diseases, in North America in the next few weeks. This follows the acceptance of Evolutecs first Investigational New Drug (IND) application by the US Food and Drug Administration (FDA). rEV131 is manufactured using recombinant technology by Cobra Biomanufacturing and this is the first time that the FDA has accepted a protein product made by Cobra for clinical trials.

Evolutec appointment 10/1/05
His appointment strengthens Evolutec's development team and will allow the
Company to optimise the progress of its current portfolio of two pre-clinical
products, rEV598 and rEV576. Both of these compounds were derived from the
Company's proprietary technology platform in which potential drug candidates are isolated from the saliva of blood-feeding ticks.

rEV598 is a small protein that has the ability to bind with both serotonin and
histamine. Initial pre-clinical work has focussed on the use of the compound
against carcinoid syndrome and CINV (chemotherapy-induced nausea and vomiting).
rEV576 is a small protein that impacts the final step in the complement pathway
and has the potential to treat indications including rheumatoid arthritis and
stroke.

6 November 2002

Double First from FDA for Evolutec and Cobra

Evolutec Receives First IND Status from FDA for rEV131 and Cobra Gains First FDA Approval for a Protein Manufactured by the Company

Evolutec, the biotechnology company specialising in the discovery and development of novel therapeutic products from parasites is to begin Phase I/II clinical trials with rEV131, its treatment for allergic and inflammatory diseases, in North America in the next few weeks. This follows the acceptance of Evolutecs first Investigational New Drug (IND) application by the US Food and Drug Administration (FDA). rEV131 is manufactured using recombinant technology by Cobra Biomanufacturing and this is the first time that the FDA has accepted a protein product made by Cobra for clinical trials.

Dr David Bloxham, Chief Executive Officer of Evolutec said: 'This is a very significant step for Evolutec, given the importance of the North American market and the demanding standards set by the FDA. rEV131 will now enter an accelerated clinical development programme to assess its value in human allergic conjunctivitis, a market worth $1 billion worldwide. Data from single and multiple dose studies at a trials centre in Boston, Massachusetts, US, are expected in January 2003.'

David Thatcher, Chief Executive of Cobra Biomanufacturing commented: 'Cobra is delighted to have been involved in the development of rEV131. This is an important milestone for both companies. For Cobra this is the first protein product we have manufactured to be accepted for clinical trial by the FDA and it is a significant step in Cobras development as a service provider to the biotechnology industry.'

rEV131 is a novel lipocalin protein which is derived from tick salivary glands by recombinant technology. The compound binds histamine with high affinity and specificity and blocks its pharmacological actions, such as those which result in itching. The molecule has a novel mode of action compared with conventional anti-histamines because it inhibits white cell migration, probably through the suppression of H4 receptor mediated histamine responses. In pre-clinical models rEV131 demonstrated strong anti-inflammatory action.

Dr Mark Abelson, a leading ophthalmic expert and President of Ophthalmic Research Associates, Inc. (ORA) added 'This is a novel approach to the treatment of inflammatory disease of the eye and it has given very encouraging results in preclinical models of allergic conjunctivitis. A new drug that is more effective in treating itching and that can block more completely the allergic response would offer advantages over current therapies.' ORA, a renowned research and development group in ophthalmology, based in North Andover, MA, USA, will be conducting the clinical programme for rEV131.

Flicking through the internet I came across this item concerning the Cobra snake's mating habits. Seems as though the male gets allocated a whole month to do his duty and then that's it for another year:

In January, the male King Cobra starts to look for a mate. He tastes the air with his flickering tongue. Then, when he locates the female cobra, he will rub his chin along her body to calm her and to stimulate her for mating. After a month of mating the two snakes emerge from their hiding place. The female seeks out a secluded spot, she then excavates a shallow, circular depression in the ground up to 3 feet. in diameter. There she deposits 40-50 eggs and remains on or near the nest until they hatch in 70 -77 days. The female defends her nest site aggressively. The male may also stay close by for a while to assist in defense. When the eggs hatch, the hatchlings are 12 to 25 inches long. Their venom, produces in small quantities, is just a powerful as an adults. As soon as all the young snakes have hatched, the female leaves them to look after themselves.

Max online buy with Barclays is currently 5K

These results are not good enough to sustain the current price IMO:

Cobra Bio-Manufacturing FY drops into losses but H2 shows improvement
AFX

LONDON (AFX) - Cobra Bio-Manufacturing PLC dropped into a pretax loss of 2.27 mln stg in the year to Sept 30 2004 from a profit of 816,881 stg but this disguised the improvement seen in the second half.

Overall, the company said it is disappointed with the performance in the year under review but its prospects are improving.

The sales improvement in the second half of the financial year was due to a switch from DNA to proteins and virus, the company said. Cobra has restructured its sales and marketing to address the US market. It has also restructured the Oxford and Keele facilities.

Contracted business for financial year 2005 stands at 2.7 mln stg.

Figures for the year to Sept 30 2004 showed revenues down 42 pct to 3.5 mln stg from 6.0 mln. In the second half, however, revenues were up 30 pct to 2 mln stg.

Full year gross margin was 45 pct, down from 57 pct in 2003. In the second half, gross margin had improvemed to 49 pct from 39 pct in the first half.

The pretax loss in the second half was reduced by 17 pct to 1.03 mln stg compared with the first half loss of 1.24 mln.

Executive chairman Peter Fothergill said the second half improvement andthe current position of the order book are significant achievements.

He said the board is cautiously optimistic for the future.