reasons:

1) Innovata are in merger talks with skypharma - (company has a valuation between 50-70p) and is currently trading on the lower end.

2) SkyePharma PLC ('the Company')
Notification of Major Interest in Shares

on 17th October 2005 by HBM BioVentures (Cayman) Ltd that following a series of
purchases it held a notifiable interest in 25,000,000 Ordinary shares of the
Company, representing 3.98% of the issued share capital of the Company.
-------------------------
on 25 October 2005 that HBM BioVentures (Cayman) Ltd had increased their
notifiable interest to 32,446,233 Ordinary Shares, representing 5.17% of the
issued share capital of the Company.
----------------------------------------
on 7 November 2005 that HBM BioVentures (Cayman) Ltd had increased their
notifiable interest to 50,000,000 Ordinary Shares, representing 6.63% of the
issued share capital of the Company.
--------------------
on 2 December 2005 that HBM BioVentures (Cayman) Ltd had increased their
notifiable interest to 57,295,894 Ordinary Shares, representing 7.60% of the
issued share capital of the Company.
----------------------------
on 5 December 2005 that HBM BioVentures (Cayman) Ltd had increased their
notifiable interest to 63,780,450 Ordinary Shares, representing 8.46% of the
issued share capital of the Company.
----------------------

HBM BioVentures (Cayman) Ltd have in the past 45 days or so increased their holding in the company from 25 million shares to well over 63 million shares now.

_______________

would love to know what you guys think.

i take you have been in on this one fundy ??? it was the shares tip last year which brought my attention to it (only been seriuosly investing for about 2 years).

Been in and out several times over the last 5 yrs. Last time i was long i sold on the morning the rights issue was announced then shorted it immediately and had all my losses from the trade back in two hours.

Its quite a sad story really cos the pipeline and potential the company has had throughout that period has been impressive, just the management have never managed to extract any value. Should have realised when they got such a poor deal from Glaxo for the Paxil CR that the mgmt wasnt capable, but ignored this and repeated signs (ie the pulmonary deal failed promises) so if nothing else its been a learning experience for me, saying that i am actually up over the years, it just wasnt as good as i expected or worth the hassle.

looks like i may have put too much faith in too, now bought 3 batches and in loss with all 3. if this egm doesnt work in my (and others) favour i could lose a lot of money. There has been a fair sized volume of shares traded in the last week or so and the price hasnt dropped dramatically so that has
given me a bit of hope.

have you voted at the egm? if so which way if i may ask

i asked this question on another bb, i hav'nt a clue how to. If certificates are held by a broker (like most investors i presume) how do investors get a vote????

you need to phone the broker and ask for a "proxy voting form", you should really have received this from your broker but the short timescales have given the brokers little chance to get it sorted

not heard or seen anything, suppose that will have happened to a lot of investors, thanks for the info. i would like to hear what the management have to say then make a decision after that but suppose thats not the way it works.

I phoned my broker who voted on my behalf.

any thoughts on 2morrows EGM???

wouldnt want to 2nd guess what will happen or what impact it will have on the SP

still no mass sell off gives me great hope.

EGM webcast available, has just started


http://ir.skyepharma.com/phoenix.zhtml?c=79810&p=irol-EventDetails&EventId=1216890

SKP have asked Bob Thian to become non exec chairman

cheers fundy, price still holding, lets have some good news.

looks like the vote went in favour (just) of the current board, hope they pull their finger out now and put this company where it should be. lIKE IN THE FTSE 100 let alone the ftse 250 (demoted from that too)!!

thanks skp for doing your very best as our investments disappear. NOT

I see share price is disappointing again, no incentive for buying. Some news from mgmt re the way forward and or a trading statement would help. A close below 40p will make the chart look really ugly though there is further support around 35p and then the 30p of the rights issue

cheers fundy, i was hoping the support level was 40p we're now down below this. I know if i sell it will go back up, if i dont sell is will carry on going down. But like you say the board could surely do something to give us some hope.

results out on Wednesday, a couple of webcasts coming to the market over the next couple off months, hope they offer investors some hope. Im out of this one at the moment but watching with interest. 39p at the mo.

Kivver

was an article in yesterdays Telegraph, saying that losses are likely to be over 30m rather than the 26m expected due to additional costs in developing flutiform. Personally always had them pencilled in as 30m-35m for this year.

Saying that i dont think the size of the loss is going to be the key factor, more so what the management actually say, could be an interesting week SP wise - will continue to watch with interest