Eden Research (EDEN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

 4.55p
   
  • Change Today:
      0.000p
  • 52 Week High: 11.85
  • 52 Week Low: 3.20
  • Currency: UK Pounds
  • Shares Issued: 533.35m
  • Volume: 496,424
  • Market Cap: £24.27m

Eden Research dips as loss widens despite 'pleasing growth'

By Duncan Ferris

Date: Tuesday 15 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Biopesticide products developer Eden Research's shares dipped on Tuesday after it reported that its annual losses deepened despite an increase in revenue.
For the year ended 31 December, the company's loss before tax was expected to come in at £1.0m, up from £0.8m the year before, while revenue was seen increasing by 48% to approximately £2.8m in what the company called a year of "pleasing growth".

The AIM traded company said that the revenue growth was driven by product sales which doubled in 2018 from £0.8m to around £1.6m, with the balance being made up of upfront, milestone and other payments and royalties.

Meanwhile, Eden said its cash position remains strong with cash at the year-end of around £2.5m, up from £3.7m at the same point the year before.

Sean Smith, chief executive of Eden, said: "We are encouraged by the doubling of Mevalone sales during the year as this reflects the increasing acceptance of Mevalone in the market, the optimised product positioning initiated by our partners and its adoption and continued use by growers."

Mevalone, Eden's fungicide product, is currently being assessed for regulatory approval in markets such as the US and Australia, while Sustaineä, Eden's patented micro-encapsulation technology, is being evaluated by an increasing number of parties and is believed to represent "significant" potential.

"In addition to the products that Eden has developed and is commercialising through its partners, there are a number of pipeline products which are in the process of being tested by potential partners including several candidate insecticide products which would represent our first entry into the insecticide segment," said Smith.

A note from Shore Capital commended Eden on "a year of good progress" and stated that the company is "very well-placed" for future development and penetration into the market with an expanding and ever-more diverse product development pipeline

"Whilst authorisations need to come through, the length and breadth of activity is genuinely encouraging to our minds and we expect momentum to further build in FY2019, especially if permission comes through in the USA, the largest market for crop protection products in the World," said Shore Capital analysts.

Eden Research's shares were down 6.12% at 11.50p at 1305 GMT.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Eden Research Market Data

Currency UK Pounds
Share Price 4.55p
Change Today 0.000p
% Change 0.00 %
52 Week High 11.85
52 Week Low 3.20
Volume 496,424
Shares Issued 533.35m
Market Cap £24.27m

Eden Research Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
2.51% above the market average2.51% above the market average2.51% above the market average2.51% above the market average2.51% above the market average
54.39% above the sector average54.39% above the sector average54.39% above the sector average54.39% above the sector average54.39% above the sector average
Income Not Available
Growth
3.90% above the market average3.90% above the market average3.90% above the market average3.90% above the market average3.90% above the market average
18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average18.92% above the sector average

Eden Research Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
15:47 204,000 @ 4.33p
16:24 9,402 @ 4.38p
15:42 98,873 @ 4.47p
15:41 59,738 @ 4.49p
15:06 20,000 @ 4.47p

Eden Research Key Personnel

CFO Alexander John Abrey
CEO Sean M. Smith

Top of Page