Intro:

CEN www.cenes.com - recently got large institutional ownership - Glaxo Smith Kline. An approx 2.5 bagger in 2003 from 3p to 8p, that is now in much better shape going forward in 2004. Has previously reached over 3.


Broker recommendations recently turned to:

ING Financial Markets 17-Oct-03 BUY
Eden Group 4-Dec-03 BUY
Evolution Beeson Gregory 9-Dec-03 BUY


Products:
Morphine Substitute. Huge worldwide market! - hence Glaxo.

The company is focused on the development of morphine-6-glucuronide (M6G) and CNS 5161 in the indications of acute and chronic pain.

Phase two and three trials underway for various large market products. etc

Major Institutional share ownership:

249.20m 1p Ords
Avlar Bioventures Fund II 9.14%
Active Capital Trust PLC 8.51%
Barclayshare Noms Ltd 6.10%
Prudential 5.82%
GlaxoSmithKline 5.33%
NY Nominees Ltd 4.51%
HSBC Global Cust Noms 764685 3.21%
Pershing Keen Noms Ltd 3.15%
A G Goodman 5.78%(dup) - Director
Other Dirs 0.16

Outlook:

(30/09/03) Interim Report: ch - "The termination of the CeNeS/Elan relationship, our pain-focused late stage pipeline and our strong cash position mean we are well positioned to move forward"



Any thoughts.

I suppose we don't really need a reason if it goes on up without news :)

Just gone up again today on no news - I wish the rest of my portfolio was like this!

Yes, me too. Price is down a little bit today, but I guess that must be profit taking. Scottie, do you think there is something in the air??