BTG's upbeat close period update (imo) further confirms the turnaround.
With recurring royalty revenues expected to be up by about 5% and R&D spend in line, and a product pipeline to die for, i believe they are cheap, and a real growth stock for the future.
Any comments.

A trade of 2 618,323 came in at 09.58.20. It registered as unknown but looking at the sp just prior and after looks more likely to be a buy than a sell. Anyone agree/disagree.

Today sales were 3/4 of Buys, yet MM's managed to drop the sp 1%

Is it surprising the sp has held so long - or is it true that holders are patiently waiting for the good news - knowing the merger was a reasonable success ( and cheap!). . . . . . . and there is plenty of cash, so no deep-discounts like so many Bigger FTSE's - - - - anyone holding BT?. . . . Arrgh!

Nice move up today.

Asterand's partner BTG to initiate Phase IIa migraine studies
Published:09-April-2009
By Datamonitor staff writer.

http://drugdiscovery.pharmaceutical-business-review.com/news/asterands_partner_btg_to_initiate_phase_iia_migraine_studies_090409

BGC is mentioned.....
Proximagen is raising 50 million pounds ($80.5 million) in what it said was one of the biggest fundraisings in the UK biotech sector in the past 10 years.
It will use the cash to buy drugs, and possibly companies, in the central nervous system area, treating conditions such as Alzheimers as well as Parkinsons disease where it already has expertise.
BTG (BGC.L) have assets the company might be interested in.

Whilst I feel BGC are progressing nicely, we are in a time of more takeovers/acquisitions involving drug/bio companies than any other time for many years.

http://www.pehub.com/41562/proximagen-raises-50-million/

Any views!

Looks like the business model is paying off. Cash in the bank with a good portfolio of revenue earning products, plus a good few products progressing nicely toward adding to the revenue stream.
The next 12 months looks interesting.

From The Mail.

By Geoff Foster
Last updated at 10:26 PM on 17th July 2009

BTG firmed 3.25p to 168p on speculation that partner AstraZeneca will soon announce its intention to extend its Phase IIb development plan for CytoFab, a treatment for severe sepsis. AZ has already chosen Rhode Island Hospital and St Luc hospital in Brussels to coordinate Phase IIb. Edison Research's fair value price target is 325p.

Wondered why the rise.

Not a great believer in Research Notes, since they are at odds with the Market ( which by definition is usually right), and Edison Research is no better than another, er, IMHO.
Until these products are being Marketed and there is Product-income it's very difficult to put a value on any stock; esp. since a small slip can spell disaster. However, you have to be "in" to win (they say) and this is one of mine. Sure, a higher sp would contribute to "feel-good" - but I suspect we have more than a year to wait ( 2013, even?) before L-T shareholders will have anything to get excited about.

Is the Edison Research's Note available on-line, I wonder?
...Maybe they want a fee...

I'm hoping the price will be 4-5x higher by 2013, so I'm curious to know what timeframe Edison Research's Note is suggesting . . . . have you read it, Greekman...?
I'm hoping BTG does go "to Market" thereby getting big-income over several years....I think this would make an attractive stock to hold and some big-Institutional holding (currently only 30%-DYOR) would have a big effect on sp....
I doubt we'll see a 10-bagger from this level, but sub-10 would still be very nice once the income stream is seen to be repetitive. The currency-effect might help slightly, as well.

On another matter, now the Merger-dust has settled, it seems they are taking-out costs, including a move to less fancy offices and some slimming of the combined-operation where there is duplication, I'm guessing about 10m pa would be nice if shareholders got this, eh?

I agree with your comments re research notes, mainly as to predicted future sp pricing, but the comment, 'partner AstraZeneca will soon announce its intention to extend its Phase IIb development plan for CytoFab' rings true. Speculation, yes, but most indicators re this look good.

I have not read the notes. Lke you I always find that if they are not news published they want a fee, often of several hundred pounds.

Thanks for that Greekman, I suspect the cost (of the Research Notes) is greater than the value - For this "news" ( about AZ), was already Public by virtue of the AGM ( er, and maybe well before) . . . but what is not certain is which areas AZ will be hanging their hat upon. If for example going forwards with this product means they need new Offices, new salesmen etc, they need to see what other products these costly purchases will be able to handle, er, without upsetting their existing salesforce/image/etc. ( this includes "AZ Directors" who will want exciting technologies, so as to grow their own Empires!).

So, IMHO it matters not if the BTG-product is good and will turn in profits, - rather it matters how it fits with AZ's future Plans and they won't say until it's a done-deal.

Compare-contrast . . . . . with OXB's situation . . .
- There, Sanofi changed horses mid-race, just recently. Fortunately Sanofi invested yet more in a realted-technology but it applies to a different field, I understand. - DYOR -

I don't suppose BTG would want to lose AZ as their partner; but it depends on the "deal" they can achieve - er, if BTG believes in the "value" of the product.....that BTG is amassing their own US-salesforce (for Crofab and Varisolve I understand when they come on-stream ), so this puts BTG is a stronger position - but AZ-plans are crucial . . . although after they've been with the product there could be a "Corporate Change" ( as suggested above)....which would force BTG to find a new partner....and Markets don't like uncertainty...much preferring AZ to take the product forward. BUT not at ANY-price, therein lies the Risk, although it's small IMHO and will take its Course under BTG management.

Morning,

I think it's more a bit of both, if the BTG-product is good and will turn in profits and if it fits with AZ's future Plans.

As to Directors empire building, I presume you are inferring that some directors put their own little empires before those of the company they work for and also their shareholders. You will be saying next that all bankers, politicians and the like are only concerned about feathering their own nest (or pension pots) often at our expense.

Note... The last time I looked into obtaining a research note, (can't remember the company) but I was quoted a sum of just over 300, well beyond moneys worth for my holdings and I presume those of anyone not either very money rich or an institution.

Greekman, I'm not sure if you are agreeing with me - that Dir of BigPharma are so detatched from the laboratory they are really interested in being the TopDog ( er, that's Empire-building in my Book), rather than what's best for their shareholders. Of course, many will argue that if every Dir is doing this, then it must be good for shareholders. Sadly IMHO, it means that many decisions are taken with the aim of enhancing the Department, rather than the Company as a whole. The Chairman should be reining-in the Directors, but with opportunities/Markets/human behaviour - er, I rest my case.

Human nature is at work in the City and our National Banks . . . give 'em an inch and they'll take a mile.

Nevertheless, it's looking good for BTG and that we/the Market agree.
This is my No1 holding.
EDIT-(27Jy09)- Greekman; glad we agree.

Hangon,

I am totally agreeing with you.

I presume you realise I was being tongue in cheek, comparing the Directors with Bankers, Politicians etc. I take the view that they are all in it for what they can get, IE looking after number 1, often at others expense. So your statement, 'they are really interested in being the TopDog ( er, that's Empire-building in my Book), rather than what's best for their shareholders', is spot on.

Apologise if my last post, confused.

As for your comment, 'give 'em an inch and they'll take a mile', you wll probably be getting a written warning from our rulers in the EU, as you should have said, give 'em 2.54 cm and they'll take 1.60934 km.
Don't sound the same though does it.

Regards Greek.

Very good day re the SP.

As to todays note release,

According to the note, we are looking to 2014/15 for full launch of the drug, if successful.

A few months ago many of the world drug approval bodies, including the FDA and NICE stated they would look to shortening the length of time taken to bring drugs from first trial to full use approval, as they except many delays are unjustified.
If you follow the NIHR HTA programme as I do, you will often see reports on drug trails take many months to be written up, 'after the trials conclusion'. Often these reports are farmed out to be written up.
If further trials are then required, or clarification or eventual approval for general release, they can not go ahead without the completion of these reports.
And we wonder why new drugs take so long and cost so much to bring to market.
Procrastination truly rules, in the field of these drug approval bodies.
Like most job-worthies, their pending trays must be their most prized office possession.
'Finger and out', springs to mind.
Pathetic.

Greekman, without reading the full story, it looks as though the AZ-news is giving BTG something like a big-smile.
Looking good to me, up 9%-ish on the News....
EDIT (18Aug09)- Down 4.5% uyesterday on cancer-drug news will trigger $7m milestone paymnet - Er, what? + Still, it's up a tad today. (Abt. 187 to buy.)
EDIT-(26Aug09). Director sharedealing - no wonder they call it thus...their option shares are sold "to cover tax liabilities" - well, frankly if this is how they treat free shares, it shows little confidence in the next 3-months ( ie seeing-out 2009).
Oh deary. I think they should hold onto them at least until the end of the Tax-year...eh?
EDIT (16Oct09)- 199 = 2+ soon, now that's progress.
EDIT (17Nov09)- 199 a few weeks ago, now 165 after some selling today a buyer appeared and bought what looks like 200k shares (c. 300k) in 3 tranches.

BTG Licenses ReGel to Allergan for use in diseases of the eye.

Under the terms of the agreement, BTG will receive an undisclosed upfront payment, and potential additional future milestones and royalties on product sales.

Good news (I think) but 'why the secrecy' of the amount they will receive.

Although I have seen this before to not state the deal value of an upfront payment is in my experience very rare.

So the RNS does not tell us much at all, presumably it is a good deal for BTG, but how can we tell.

Happy New Year
But - I must take a different view to yours Greekman - in that it is my experience that good commercially-focussed companies usually don't give details. They may talk of Milestone payments and Royalties, but so often the RNS is somewhat short on pennies (or Pounds,). I've always thought this was to prevent other parties from understanding their competitors....
- For example if BTG is selling a minor treatment, then they'll approach say three or more potential partners. Hopefully one will bite and make a bid - this may be less than the others, because BTG believes the Return is more-certain (and hopefully better overall). To avoid upsetting the others, the "deal" is somewhat fudged - after all they may want to get top-dollar with one of the disapointed parties. By showinig their hand (that BTG settled for less, say) they may miss out on a far more finacially important deal.....

Sadly many also-ran companies (few on the Main Mkt. IMHO) use the same technique to pump-up their deals, E.G. by trying to use the good-name of a larger-player as though this creates a "value" for their technology, when in fact all they have is an "understanding" - which is pretty worthless. These "snipets" are then used by Rampers to justify rapid price-rises based on nothiing more than Hope . . . and the eagerness of punters to be "in" at the start - whereas the truth is they are being drawn into a sp that is already overvalued by a factor of ten.
- I hold BTG, in case anyone thinks I'm grininig any axe.
Oh and I'm still happy, waiting for my reward.

Hi Hangon,

I for one don't think you are 'grinding any axe', but I stick to my comments re detail, although I do see your point re keeping the figures from potential competitors.
Like you waiting for the reward which I am confident will come.

Regards Greek.

Thanks for that on BTG - - - - BTW are you reading OXB's RNS (today)...?

I hold that also, and am impressed by the irregular updates. . . . looks good to me for the US patent-holders have invested in OXB - looking for an extra return on their efforts, I guess.


EDIT (Oct2010), UPDATE - FWIW, I've sold most of my BTG-holding at 229, as a result of IC article that paints a less-rosey pic. So now I expect it to fly! Been a good run recently, but their US operation will drain funds and Vs has no G'tees.
EDIT (2Nov10)- flying still, now 350 that's nearly 10% up on my Sale. Huh!

Edison now saying BTG worth 3.51 a share and mentions a very positive update on Campath, with a possible hostile bid by Sanofi-Aventiss for Genzyme, BTGs licensee for the drug, which contends its prospects are vastly under-appreciated.

Today Norges Bank informed the market that they had increased their holding from 7,689,369 to 9,189,369 and the sp drops. Strange world.