Anyone have idea as to why large drop to-day in relation to relatively low volume

issuing new shares

Thanks Peter - I should have remembered I received an e-mail telling me that a while ago

Unfortunately there are quite a few CEN threads running, but I have picked this one as the most recent posting. Does anyone think CEN will break out above 15? They seem to get close and then fall back, the latest fall due to the recent new issue, but seem to be on the way up again. Perhaps it may be time to take a profit?

PTH

Looking forward to the results... hopefully a nice update re Phase III trials

when the reult come out?

Any thoughts on this one? Steadily drifting down (now at 9.75p) and looking as though will drift further. Results due out on the 20th April.

Lots of late activity & price starting to drift up. Results in a couple of weeks, but there has been no news for sometime now. I hold (and am showing a small profit) - any other holders or anyone else with any views? Interest from Glaxo & Vernalis in past news, M6G in phase III (and maybe some news in results) and maybe see what the impact of the purchase of TheraSci Limited has had. Could be interesting?

Up another 7.41% today - a steady climb up to the results would be good. Whether good results will send it higher or it will follow recent trends and drop, who knows?

Up another 3.45% today. Lots of buys - seems to be heating up.

CeNeS Pharmaceuticals PLC
20 April 2004


CeNeS announces preliminary results for the year ended 31 December 2003

Cambridge, UK 20th April 2004 - CeNeS Pharmaceuticals plc (LSE:CEN) ('CeNeS' or
'the Company') today announced its preliminary results for the year ended 31
December 2003.


Key events since January 2003

Financial

Sale of pharmaceutical products in May 2003 for over 9 million,
generating a profit of 3.2 million.
Restructuring of balance sheet completed with conversion of Elan debt to
shares.
Turnover 1.5 million in 2003 (2002: 5.2 million) reflecting the
disposal of the pharmaceutical products in May 2003.
Loss for 2003 6.0 million (2002: 6.3 million).
Cash resources at period end of 7.9 million (2002: 0.5 million).

Operational

M6G for post-operative pain commenced its first Phase III trial in
September 2003.
CNS 5161 for neuropathic pain commenced a second Phase II trial in
January 2004.
Acquired TheraSci in November 2003 strengthening the pipeline in
development and discovery programmes in sedation/anaesthesia, Parkinson's
disease and other CNS disorders.
GlaxoSmithKline takes 5% stake in CeNeS as part of TheraSci transaction.

Board appointments

Dr Peter Johnson, Chairman of Oxford BioMedica Plc and Alan Smith,
Chairman of Acambis Plc and Avlar Bioventures Limited, appointed
Non-executive Directors.

Commenting on the results, Alan Goodman, Chairman of CeNeS Pharmaceuticals Plc
said: 'I am delighted to report that CeNeS has successfully met all of its key
objectives in 2003. We have made significant progress with our later stage
clinical projects having commenced Phase III trials for M6G in 2003 and Phase II
trials for CNS 5161. Additionally, we ended 2003 with the acquisition of
TheraSci Limited which has further strengthened our portfolio - especially the
acquisition with TheraSci of CNS 7056X - a short acting sedative development
programme from GSK.

The next 18 months will be an exciting time for the Company as our two lead
products progress further through their clinical trials and we announce
important Phase III results for M6G and Phase II results for CNS 5161 as well as
progressing CNS 7056X to the start of its Phase I programme.

Following completion of the restructuring and streamlining of the company and
its activities CeNeS now has a clear business focus on lower risk opportunities
for the treatment of disorders of the central nervous system including pain and
we have established a balanced clinical pipeline. The Board of CeNeS believes
that the Company is well placed to move forward and deliver increased value to
shareholders.'

For more information please contact:

CeNeS Pharmaceuticals plc

Neil Clark

On the day Tel : +44 (0) 207 903 1000
And thereafter Tel: +44 (0)1223 266466

Capital MS&L

Mary Clark/Paula Crymble

Tel: +44 (0)20 7878 3181

Stormy, isn't it?

indeed!

.

Mixed results today for CEN's M6G in the European Phase 3 trial, failing to meet one of the endpoints.

Could necessitate a retrial imo.

Big question. In the face of a global "correction" how much is CENES really worth?

imho.jobi, the correction will have no lasting impact on cen sp. any stock specific news will move cen up or down regardless of wider market movements.

More news... longer lasting and less drugs needed than morphine. Bring it on... Again!

And the revised strategy has clearly been thought out following these delays - I like the approach in Europe of either selecting individual countries, or using the US as the master to gain euro approval.

And of course potentially using a larger partner.

Upbeat news from CeNeS. In addition to the clear nausea and vomiting reductions of over 25% announced last week, secondary data reveals that patients receiving M6G required over 20% less anti-emetic medication over the 0-24 hour period than those in the morphine group. This shows that not only does M6G induce significantly less nausea and vomiting than morphine, but also that the post-operative anti-emetic treatment required is considerably reduced.

The potential for reduced anti-emetic drug costs combined with the reduction in medical assistance and the improved patient comfort due to lower PONV supports CeNeS justification of a substantial price premium for M6G compared to morphine. In a nutshell these results are first class. To read the full report go to www.shareclubuk.co.uk The S.P. has move up over the last few days.

CeNeS preliminary results will be out on Wednesday 28th March.. On the same day the Company will be hosting an R&D presentation at the offices of Financial Dynamics.

Wait a bit, if the CeNeS drug is better than morphine then logically you can charge more, but the logic cannot be extended to making the patients happier with their lot......let's examine......the reason you go into hospital is to made better, you don't care about the process, only that after some time you'll be back to normal. That this drug (or that) is better is of no consequence to the patient - they'd prefer to be taking nothing. Now the costs: If using Morphine requires another drug and an extended stay in hospital this can be costed and if the CeNeS drug avoids this, that's a Hospital Bonus (remember the patient doesn't care)....so my guess is that the CeNeS drug can be sold at no more than 5-10% above the cost of morphine - but whilst this is higher, I doubt this is the "Subtantial price Premium" that Myway is suggesting...(( -or do you have some knowledge in this field, from other drug-pricing ))?

The good news is that CEN sp is falling....so anyone that believes the story can add to their holding with the good-news "outside" the current price. I'm guessing the Market wanted drug delivery yesterday.....
Further good news is that IF this drug is as good as indications are, then CEN should see a wide acceptance and cash-flow...forget the Premium price until the world is hooked! Pricing is a sensititive issue and taking the price as high as you can is only sensible if there is limited availability and you need to build a GMP plant; but I'm assuming someone like Cobra will do the production.

Well, it looks good to me and I've been holding for a few years.
Can anyone suggest what the sp will reach once the cash starts to flow...could we see a mere doubling? OR is something above 20p more likely? (=3x)