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.

cheers fundy,,i`ll look in to it,,its not something that i would normally select,i didnt think it had been around that long. i no theres been a lot of intrest in this from brokers,in the last 12/18 months but there seems more to this than meets the eye. i`ve followed this share recently,,say about 12 months
it first caught my eye when there antidepressant PAXIL was first mooted, if i remember the price then is roughly the same as the price now.lots of up beat news,if the price falls to levels of about 0.60 i`ll buy and wait, regards dave , cheers for the info.. ps i`am off to hunt in the loft theres about 5 years shares mags ,,investors chronicle up there.......

Gowrie-Smith`s departure may well be the start of good news that the city will enjoy - target 90p by end of year.

Oakapples

Personally think your target is achievable but I feel we will now drift sideways until the pulmonary deal is finally signed. When that will be who knows with SKPs track record but should be within the next three months imho. This deal will enable people to sensibly forecast this yr and next and we should start to see this value reflected in the shareprice. Until then still jam tomorrow as far as the city is concerned.

A non executive director increasing his holding by 50% cant do any harm !!

Interesting webcast with Michael Ashton on rival site this pm.

My take on it was as follows:

the pulmonary deal is still in due diligence but it will happen, its just a case of who and when

emphasis on moving away from milestone payments to royalties

the company are more likely to be acquisitive than acquired

+ve opportunities for the long term in Japan (esp Pulmonary products)

Still in discussions with Glaxo re: Paxil CR royalties

To me it was a very positive interview!

Any news on this stock are we still waiting for a deal.

Still waiting whilst the share price is now below where it was for the first 2 announcements! Appears a lot of those who subscribed to the recent bond issue have sold their shares to purchase the bonds creating the recent stock overhang. News of the pulmonay deal cant come quick enough though with SKPs track record dont hold your breath - its over a year now since the pulmonary deal was first mentioned!!! Could go even lower on half year results in sept which will show losses unless the deal comes before or at the same time!

Morning all holders and whats with this skp,there is not much interest in it ,even at this level,what level will it take to bring the people back,, below 50 ??.
In a market that is on the way up,in the last few months/skp is on the way down,does that say it all ??

Why the drop on massive turnover (no rns)? On many peoples watchlist for 2005.

Kivver

the 15m trade was placed into the market at 7% below close and this dragged the price right down. Many rumours doing the rounds as to what the trade was (and the one for 2.6m soon after) though most likely is that DKW were involved on one side of the trade, and imho a hedge fund shorting on the other

">

A friend of mine has every penny he has tied up in this stock and is convinved it's going North, he's also trying to talk me into diving in - I haven't a clue where it's going but the chart to my untutored eye doesn't look too good. Interesting but not a raving buy.

There was a 15m trade on friday but if some one sold, some one has to buy

I am still holding and still waiting and waiting and waiting.

driver////you are not alone ///

Likewise

We may be doomed but at least we can all go down together. It makes failure so much more convivial. Anyway, at least the sp is not following the main market -for that we should be grateful. But when will some positive news emerge????????

I am here too - lots of good write ups - shares mag etc. Looking for 85p ( so am I!!)

Sharp sp drop "Why" any one?

Cant find anything - but nearly 14% drop means some are in the know - GSK may be behind it. I will buy again to-morrow - if the price is right !

GSK says FDA halts distribution of Paxil CR due to manufacturing issues- News just out.