This company has just posted excellent first half results-a complete turn around from losses to profits. looks a good long term buy to me anyone else in this one?

you are not alone, have been in for many a long day.

LOL - didn't realise the thread had only been started today! I had thought about starting one a while back, but didn't get around to it as I wasn't holding. (actually I bought originally because of an article in Shares Mag from about spring 2004, when the co was still known as ML Labs.)

Anyway, my promised pearl of wisdom is this:

In the recent interims, IOV reported EPS of 0.94p. Assuming this doubles to 1.88p for the full year, that leaves IOV currently trading on a P/E of about 11.6. Which looks to be very cheap for a pharma.

Is a big drop in income anticipated due to heavy reliance on one-off milestone payments in the first half-year, or has the market simply gone to sleep on this one?

I think it may be the latter, as obviously there hasn't been much BB activity re IOV. However, if IOV still posts a full-year loss then the current market cap of 115 mil may be justified. FT.com has a revenue forecast of 22.54 mil for Y/E Sep 2006, but no profit breakdown. Has anyone seen any brokers' estimates?

Opinions welcome . . . . All IMO/PDYOR, etc.

I'm holding and hoping!!

Used to hold as ML Labs and then as Innovata but sold after I got bored with the lack of price movement. They are looking good now though.

Made a strong move this year to 28p. We had very good 1/2 year with an outlook of more good news to come with usda approval looking a formality for adept.
The price then came under pressure with a heavy seller seen and the price(with the aid of the falling market in general)fell to 20.50. It is suspected that the seller was something to do with the takeover they made last year as the 12 month holding period is now up, but there has not been any notices to identify sellers.
The out look looks vg with increased royalty revenues although clickhaler is delayed by a few months that will not affect the short term income in any damaging way.
Holding, please do your own research.