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.

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

All a little clearer after todays statement. 35 million in cash, 50 million costs to go through phase 3 of flutiform, hoping to find a partner this year (how close they are nobody knows). Should be ready for market in 2009 and worth multi-millions. Other good products in the pipeline. Losses on some products this year compared to last. Personally going to stay out for while (already sold at a big loss) but looks good for the longer term, just a judgement now of when many will pile in.

I believe there is a a webcast today which will hopefully shed some light on things.

Kivver

My reading of the results is the company is very close to becoming overly dependent on Flutiform. With regard to finding a partner, this promise has been ongoing for nearly 3 years and is a repeat of the statements from previous years(though toned down from when it was "company transforming". Maybe theyll finally deliver but to be honest i take the comments with a huge dose of salt. They are also going to need to sell the injectables part of the business to guarantee future security - surprised to see no update on this.

The only real positive i can see is that surely they have all the bad news out in the open now!

With regard to other products the news is pretty poor:

Paxil CR - this should have been a great cash cow for the company but have made a hash of. The patent situation now looks like this will continue to decline to nothing over the next couple of years

Foradil Certihaler - still having problems with labelling and despite approval in many countries doesnt appear to be coming to the market soon

Requip CR - withdrawn the filing

Propfol IDD - FDA have asked for further testing and the project is now "under strategic review"


All in all a horrible set of results and now promising less jam than before. Cash going forward could become a problem the rate they are burning at especially whilst they are sole developer of flutiform.

As for flutiform being worth multi-millions, why have several potential partners turned down the opportunity on this product? Have the company been trying to overachieve on the price or is the product not as good as mgmt have been continually promising?

Cheers Fundy,

summed it up beatifully and fully agree with your taking RNS comments with a pinch of salt. Im only a small time investor (doing it about 3 years now) and the one big learning curves has been the exaggerated predictions made in alot of RNS statement. Promise you the earth and deliver little to nothing. Transense technologies (trt), bioprogress (bprg) and Centurion Electronics (cuc) have been three other great examples of this (sure there are many more). Will watch with interest and if anything comes of it then great im out at a big loss so looking elsewhere to make my money back. Any ideas Fundy???

webcast was all if, buts and maybes it seems its all down to flutiform at the momemt and the kind of deal they can generate. Paxcil is quickly going to go out of the equation. It could come good but will take time.

Kivver

the content of RNS comments can be very useful but the amount of notice i pay to them is dependent on the previous success of the management to deliver promises. SKP mgmt has been "out of favour" in the city for approx 4/5 years when they first started not meeting promises.

with comparison to the other co's you mention, SKP should have been more reliable being a FTSE250 stock, just go's to show size doesnt guarantee security.

I have actually made a few quid out of SKP over the years, but nowhere near as much as i expected considering the promising position the company was in a few years ago.

As far as other shares, at the moment i am short term bearish about most shares and hence have few open long positions. Those i do are focussed mainly on the oil sector. Currently hold DNX (have done from 220p a few year back, now 1105p) as a long term position and have shorter term positions on BG (from 698p now 769p) and HTG (from 332p now 393p).

The DNX position is fundamental based, though the chart is fabulous, with a new breakout just occurred, the other two are shorter term chart based positions (though the fundamentals on both are strong)

The only other small position I have is Halladale (HDG) a small commercial property co that are AIM listed. Have recently taken most of my profits as the recent good run appears to have run out of steam though long term they are very attractive fundamentally.

As you'll notice, none of these shares are much discussed on BBs, i tend to prefer the shares with strong fundamentals/charts that are not based on hype (as per most of the shares on the investors room BB)

Good luck in recouping your losses :-)

Like your style Fundy, and i use a similar approach and do not understand or want to understand all this Technical Analysis. It seems pretty simple to me if a chart is generally in an upward dierection that is good sign and visa versa. 2 shares i looked at big time about year ago (but didnt buy) was xstrata and Dana (your great pick) which i think probably as a lot more to run. Still thinking about getting in but not helped by the rise in oil prices (will it last???). Also advised as a sell by Investors Chronicles magazine, which i think they have completly wrong. Sick as a pig i didnt buy. bhp Billiton also worth a big look.

Kenmare Resourses, iqe, asos and Corus have been my big stars. Advise all to look at kenmare around july and if below 50p, mine still on schedule to be finished by the end of year, look for around 70p (on fundamentals).

as for skp just going to keep on my watch list. cheers fundy.

The price fluctuations on this share lends itself to short term investment when on dips like today. Have been watching but dare not dip my toe!

Kivver

Up until last year i had the same approach to TA in that i didnt understand it and didnt really want to. However, i have learnt mainly point and figure charting which i have to admit has been very helpful to me and provides a great insight into the overall markets as well as individual shares. It also is quite accurate at providsing target prices.

DNX got plenty still to run, they have an extensive drill programme over the 2 years and several of these are potentially company transforming. In addition production from existing and recently online fields is growing and is all fully exposed to oil prices rises as they are unhedged.

ASOS was one that got away for me. Bought when single figures but sold way too soon :-(

will take a look at Kenmare

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thanks for your time

These are looking interesting again.

see theyve finally got Foradil approved in the US, shame of the management incompetence prior to this

Web-cast Feb 2007.
I read about this (Feb 2007) and that it would be available on their website for 3-months.
So how do I view this?
I can find only a mention to it, - did it occur,
- or what?