Anybody else out there interested in these?

2002 Results are due in April, and they are expected to show a maiden profit.
Last week I opened a small speculative long (spreadbet), but I am looking to add to this position a lot more if we get any sort of resolution over Iraq crisis before the results which should spark a broad market rally from which SKP could really benefit and have a strong run-up.

DYOR etc.


Here is a recent research note from Merrill Lynch (they estimate 0.25p EPS for 2002):


Merrill Lynch FlashNote

7 February 2003

SkyePharma

Newsflow Set To Continue BUY

Reason for Report: Company Update

EPS (Dec): 2001A -1.19p; 2002E 0.25p; 2003E 2.13p
P/E (Dec): 2001A NM; 2002E 180.0x; 2003E 21.1x

Michael Ashton, CEO SkyePharma, gave an upbeat and informative presentation today.

Depomorphine appears on track for US submission in June 03. The two pivotal trials (hip and lower abdominal surgery) have been concluded. To date, the results appear encouraging. Management believe that safety (eg respiratory depression and nausea) is not an issue for the drug.The company is also conducting an additional trial in C section patients which is completing enrollment and should be included in the European submission for Depomorphine later this year. We expect the pivotal trial data for Depomorphine to be presented at the American Society of Clinical Anaesthesiologists in October 2003.

Paxil CR continues to grow (accounting for c.26% of total Paxil scrips in the US). 50% of these Paxil CR scrips are repeat and Paxil CR accounts for c.7% of the total SSRI antidepressant market in the US. Paxil CR is already filed for pre-menstrual dysphoria disorder (PMDD). However, GSK also plans to submit the intermittent treatment of PMDD later this year.

SKP also confirmed that Quintiles plans to present new data for Solaraze at the American Society of Dermatology in March. SKP believes that Solaraze is making in-roads into the actinic keratosis market and appears to be taking market share from Ephedrex (5-FU). Clinical trials in Australia are on track, with SKP planning to submit Solaraze to the Australian regulatory authorities in 2004 (second largest market opportunity after the US).

Enzon has already started to market DepoCyt in the US and SKP expects to see wider usage of the drug by key oncologists in the next few months. Phase IV studies for the neoplastic meningitis indication are on track, with an FDA Advisory Committee meeting (ODAC) scheduled next month.

Overall, we expect the newsflow for SKP to continue and reiterate our BUY recommendation with a price objective of 80p (based on applying the speciality pharma multiple to our 06E EPS of 14p and discounting back agressively at 30% p.a.). Risks to the stock include the general risk of drug development delay and product approval failure.

i hope skp doesin a day the same as pic....

This should alleviate the uncertainty surrounding the July maturing convertible bonds:

RPT Skyepharma to privately place 20 mln stg of convertible bonds
AFX

LONDON (AFX) - Skyepharma PLC has signed agreements for a private
placement of 20 mln stg of new convertible bonds.

The pharmaceutical company said the funds will be used to defray corporate expenses, including the 9.8 mln stg likely to be required for the forthcoming redemption of its 6 pct convertible bond due 2005.

It will also satisfy projected use of cash for the foreseeable future, SkyePharma said.

The new convertible bonds, which have a coupon of 8.0 pct and a first put after 5 years with a final maturity of 2025, have a conversion price premium of 50 pct to the volume-weighted average share price of SkyePharma on May 27.

Michael Ashton, SkyePharma's Chief Executive, said: 'On April 28 (we) made reference to the fact that the company's working capital requirements are sensitive to the timing and receipt of milestone payments and payments received on the signing of new contracts.

'Since that date, the FDA has approved Triglide, triggering a 15 mln usd milestone payment... and we are working toward the conclusion of a definitive agreement for the licensing of our major pulmonary product Flutiform.

'In the mean time, (we) felt it was in the best interest of the company to remove any uncertainty in respect of the company's financial resources.'

tc

http://www.m2.com/m2/web/story.php/2005785B99A67EFD32C5802570590059C9A0

batteryman

any chance you can post the full article as it requires subscription access

ING has a buy rating and 80p price target for Skyepharma (Friday 12th August).

its about the share price reflected the hype! been waiting a long time.

So what's going to drive the price from 58p to 80p then in their opinion?

The pulmonary deal i expect

Just bought some drugs from this guy he sold me some SKP,i hope it does the trip.

brave man DD

Not looking for much in return 46/48 region.

Donald Nicholson bought 100,000 and the sp goes down? I may get back in on these.

HBM BioVentures purchasing.

Skyepharma PLC
18 October 2005


For immediate release 18 October 2005



SkyePharma PLC ('the Company')
Notification of Major Interest in Shares


In accordance with the Companies Act 1985 (as amended) the Company was informed
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.

Any one on these they are starting to look attractive @ 37p

SkyePharma, Maruho in marketing deal for DepoBupivacaine lin Japan
AFX


LONDON (AFX) - SkyePharma PLC said it has entered into a strategic agreement with Japan's Maruho Co Ltd for the for the development, marketing and distribution of anaesthetic DepoBupivacaine in Japan.

Maruho will pay SkyePharma up to 18 mln usd including up-front and milestone payments. Maruho will conduct at its own cost the clinical development of DepoBupivacaine required for regulatory approval in Japan.

Additionally, SkyePharma will receive a share of Maruho's sales of this product in Japan, out of which SkyePharma will bear the cost of manufacture.

DepoBupivacaine is SkyePharma's novel sustained-release injectable formulation of the local anaesthetic bupivacaine, currently widely used as a local or regional anaesthetic during surgery, either in a hospital in-patient setting or in ambulatory surgery.

newsdesk@afxnews.com

lam

Driver

followed these for the last 5 yrs or so and have been in and out many times.

Personally see no upside in the short term unless become a takeover candidate, recent performance of their drugs in production has been poor (esp Paxil Cr since the Glaxo manufacturing fiasco) and Flutiform, which was supposed to have been company transforming is now being developed in house as they failed to sign a partner for the deal, and they have got to fund Phase 3 themselves - earliest date to market will now be 2009, which may be too late. The rights issue at 30p compared to a close the previous night of 53p shows how low they had to drop it to get any backing.

That said, they do have some decent drugs and a decent pipeline which stack up well to their current mkt cap, the big problem at the moment is the current management have no ability to run a company and make a profit from these. If you are thinking of investing, read back over the last 3 yrs RNSs and you'll get a jist of the management incompetencies.

With decent management, once Ashton and Gowrie Smith are completely gone then may be a worthwhile investment but wouldnt buy in while either of these two have any remaining influence.

All IMHO DYOR NAG, good luck in whatever you decide

Fund Cheers
The post below is from this board from April, I see nothing has really changed.

driver - 06 Apr 2005 09:45 - 87 of 152
Fundamentalist
Good post I finely got shot of these last week after many years and a lot of averaging down at the end I was at a small lose, after reinvesting (ert) I am now in profit. I agree with what you say, a lot in the pipeline and the future potential for the company, and one day I'm sure this stock will be 300p but its the same old story again and again loss, loss wider, no profit, not yet, No Divi
I am on the sidelines now watching and waiting.

Driver

i bought back in after that at about 50p, sold at 46p ish on the morning of the rights issue announcement then shorted that same morning down to 39p - its a crazy share because the business has some decent fundamentals but the management is truly as bad as i have seen for a FTSE 350 company

Is that 40p i see or are these drugs playing with my mind.

No not the drugs this time Dave, seems some solid buying and this RNS today

Company Skyepharma PLC
TIDM SKP
Headline Notification of Shares
Released 14:12 07-Nov-05
Number 7448T

For Immediate release
7 November 2005

SkyePharma PLC ("the Company")

Notification of Major Interest in Shares

In accordance with the Companies Act 1985 (as amended) the Company was informed 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.

fund
Still on the sidelines on this one, I will have to start following the shares you are bearish on.