Joined the holders in CBF this morning. Looks like a recovery going on here and I here whispers well speculation of new contract wins. The company seems to be moving away from DNA and focusing on protein and virus production and they seem to be far more focussed.

The company have restructured their sales and marketing team and appear to be more aggresive in their actions.

Fixed and variable costs have also been attacked and the company is working from a lower cost base. The companys order book is higher than it as been for a while and I beleive quarterly profit will be achieved.

Chart also looks strong and shows a break up.

Pointers To Recovery.

From last results 11th Jan.

Sales improvement in the second half of the financial year due to switch
from DNA to proteins and virus.



Restructuring of sales and marketing to address US market.



Restructuring of the Oxford and Keele facilities.



Broadening of customer base - 12 new customers in 2004.



The 4.8m Oxford Facility completed on time and to budget.



Contracted business for financial year 2005 stands at 2.7m.



Financial:


Revenue: H2 2004 up 30% to 2.0m compared with H1 2004 1.5m
FY 2004 down 42% to 3.5m (FY 2003: 6.0m)

Gross margin: H2 2004 49% compared with H1 2004 39%
FY 2004 45% (FY 2003: 57%)

Loss before tax: H2 2004 reduced by 17% to 1.03m compared with H1 2004 1.24m
FY 2004 2.27m (FY 2003: 0.82m profit)

Cash at bank: Sept 2004 3.2m compared with Mar 2004 3.8m (FY 2003: 7.3m)

Loss per share: FY 2004 12.3p (FY 2003: 6.9p earnings)

Director Speak

Commenting on the results, Peter Fothergill, Executive Chairman said:

'Our second half improvement and the current position of our order book are
significant achievements. Management moved rapidly during the year to focus
sales and marketing in the US and from DNA to virus and protein production. This
was no mean feat and we are cautiously optimistic for the future.'

Company Outlook Statement.

Management is actively seeking to broaden the customerbase particularly in the US biotechnology clusters and is examining ways toexpand the service offering including later stage manufacture and there by developing longer-term relationships which can reduce the impact of the high levels of clinical trials failure. These initiatives are already beginning to gain traction with contracted business currently 2.7 million for the financial year 2005 ('2005'), with 52% from North America. If this improvement continues Cobra will recover value for its shareholders.

Fundies.

Presently loss making but looks like the corner has been turned. Awaiting next trading update/results.

Beta.

Fairly High.

Conclusion

Highly Speculative, but the rewards if recovery does take place could be very rewarding.



cheers GF.

Stop dithering and get in.

Further speculative gossip this weekend, more contracts coming through.

Hold on to your seats.


cheers GF

On a roll now this one. Just added myself again this morning.

cheers GF.

Still positive, just.

cheers GF.

A resiliant little devil this one.

cheers GF.

A down day across all the small cap board, not company specific. No reason to sell.

cheers GF

Looking for an up day WED after the Yank close tonight.

cheers GF.

I am so impatient - terrible for trading - however a mid term hold on this will bring a few smiles - I expect it to be 80p within 5 and a half weeks :)

Recovery on the way on the back of new contract wins. Nice to see higher volume levels.



cheers GF.

it would appear we have another contract

http://www.cobrabio.com/prs/020305.htm

Company

Business development

Custom manufacture

Vector technologies

Investor relations

Contact

News

Exhibitions

2 March 2005

Cobra signs agreement with Hawaii Biotech Inc to manufacture two novel protein vaccines against Dengue fever and West Nile disease for US clinical trials

Cobra Biomanufacturing Plc (London Stock Exchange AIM), has announced that it has signed an agreement with Hawaii Biotech, USA, to manufacture and supply material for clinical trials of vaccines against Dengue fever and West Nile disease. The financial terms and conditions of the agreement were not disclosed.

Hawaii Biotechs vaccine technology is based on the production of proprietary genetically engineered antigens (proteins) that produce immune responses equivalent to or better than traditional live or inactivated virus approaches. The Dengue vaccine product consists of an adjuvant and five viral proteins which have been cloned and expressed in insect cells. The West Nile vaccine product consists of a single recombinant protein and adjuvant. The vaccines potentially have a significantly improved safety profile compared to traditional approaches.

Dengue fever and West Nile disease are growing problems in North America. Dengue fever is expanding globally with an estimated 50 million to 100 million cases of Dengue worldwide annually, with more than 20,000 deaths. Caused by a virus that is carried by mosquitoes it produces severe flu-like symptoms that can lead to a life threatening haemorrhagic fever. Unknown in North America until 1999, the West Nile virus is now permanently established throughout this territory. A significant cause of human illness in the US from 2002, its most serious manifestation is fatal encephalitis (inflammation of the brain). West Nile virus also causes disease in numerous wild and domestic animal species.

Commenting on the agreement, Dr David Thatcher, CEO Cobra said: "This is a significant program for Cobra and we are thrilled to have been selected by Hawaii Biotech. Todays announcement is a valuable endorsement of our ability to manufacture protein vaccine products for US clinical trials and demonstrates our continued ability to penetrate the North American biopharmaceutical market."

David G. Watumull, President and CEO, Hawaii Biotech added: "Hawaii Biotech,Inc is pleased to enter this collaboration with Cobra Biomanufacturing Plc. for the cGMP manufacture of our Dengue and West Nile recombinant subunit vaccine candidates. This is an important step in the preclinical development of these vaccines and critical to the successful launch of our anticipated Phase 1 clinical trials for both Dengue and West Nile vaccines in 2006. We have been impressed by the experience Cobra brings to the table and look forward to a mutually beneficial collaboration."

- ENDS -

For further information, please contact:

David Thatcher, Chief Executive Officer
Cobra Biomanufacturing Plc
Tel: +44 (0) 1782 714 181

David G. Watumull, President and CEO
Hawaii Biotech, Inc.
+1 808 486 5333

Media enquiries:
Eileen Paul
Northbank Communications
Tel: +44 (0) 1260 296500

Back




Design byNorthbank Communications

Excelent news.

cheers GF.

What does everyone make of the fall in SP over the last few days. You cant really expect more positive newsflow than Cobra keep delivering!

Strange to say the least. Perhaphs it just stale bulls unloading.

cheers GF.

intresting!

http://biz.yahoo.com/prnews/050304/to266_1.html

COBRA should be announcing a quarterly trading statement on 7th April at the time of the AGM.
more upside on the run up?

Lets hope so alderley, the share price as been poor and confusing to say the least over the last few days.

cheers GF.

gf
i'm going to be getting some more,possibly the dip is due to no RNS on the recent contract and somebody taking advantage(as if they would).Bounced off our low today so IMHO.
good luck

DRUGS FIRM'S 1.9M BOOST FROM U.S. DEAL

RICHARD BABINGTON

12:00 - 09 March 2005

A Drugs firm has continued its successful start to the year by signing a deal with a Hawaiian company worth almost 1.9 million. Cobra Biomanufacturing, which is based at Keele Science Park, has signed an agreement with Hawaii Biotech to make and supply material for clinical trials of vaccines against Dengue fever and West Nile disease.

The two diseases are growing problems in North America. Cases of Dengue fever are increasing worldwide, with up to 100 million cases annually and more than 20,000 deaths.

It is caused by a virus carried by mosquitoes and produces severe flu-like symptoms that can lead to a life-threatening haemorrhagic fever.

The West Nile virus was unknown in North America until 1999, but it is now prevalent throughout the region.

In serious cases it can lead to fatal inflammation of the brain. It can also cause disease in numerous wild and domestic animal species.

It is the second large U.S. deal that Cobra has signed within a month. The company won another contract worth more than 1.8 million in February.

The contracts have come after Cobra decided to move towards virus and protein orders because of a fall in demand for DNA products.

In January, the company reported a loss of 2.27 million after sales fell 42 per cent.

But it saw an improvement in the second half of the year when sales went up to 2 million, which it put down to the switch to protein and virus products.

Cobra's chief executive Dr David Thatcher said: "

Today's announcement is a valuable endorsement of our ability to manufacture protein vaccine products for U.S. clinical trials and demonstrates our continued ability to penetrate the North American biopharmaceutical market."

David Watumull, president and chief executive of Hawaii Biotech,

said: "We have been impressed by the experience Cobra brings to the table and look forward to a mutually beneficial collaboration.

Excelent research that.

cheers GF.