Not exactly what we had in mind and looking at the
company profile and financials it's easy to see why
the markets don't like this. I don't like this.
Their financials look bad, analysts rate them as a
sell, and they don't appear to have cash.
I'm still searching because I did see something about them
doing a placement and raising significant cash; but, I
just got here and am just catching up with the debacle.
Some further insights into this company:
Jan 03/2001
Another bidder has joined the shortlist of candidates for Cantab Pharmaceuticals (LSE: CTB.L - news) (CTB). Provalis (PRO) has joined PowderJect Pharmaceuticals (PJP) and one or two other companies, possibly from outside the UK. The vaccines company put itself up fir sale last year after its lead product failed in clinical trials. Cantab shares jumped up 13.5p to 145p in anticipation of a deal.
Nov 26/2000
Provalis (PRO), the small pharmaceutical company, provides a riskier gamble. The companys diagnostics division has developed a device that helps diabetes sufferers monitor their sugar levels over long periods. Approval for the machine has been received in the US and Japan and is already in use in the EU. Compared with rivals, Provalis looks cheap at 22p, but it requires a leap of faith, the column suggests.
Sep 06/2000
Provalis (PRO), the biotech group, which develops a whizzy bit of machinery to monitor the blood of diabetics, seem set to get approval for its oral insulin drug in America. The news helped to lift the shares 9% to 33.5p.
Aug 24/2000
Independent Energy (LSE: IEH.L - news) Holdings (IEH), the electricity company, continued to be marked up sharply on takeover talk. The shares jumped 8pc, or 35, to 445p, after a 17% leap on Tuesday. Independent Energy remained tight-lipped. Among the smaller companies, the healthcare group Provalis (LSE: PRO.L - news) (PRO) jumped 58%, or 12p, to 32.5p after regulatory approval from the United States for Glycosal, Provalis's drug to monitor diabetes.
Aug 23/2000
Shares in FTSE Fledgling stock Provalis (LSE: PRO - news) soared today. The biotech company announced that its diagnostic division, Provalis Diagnostic, had received US regulatory approval for Glycosal. Glycosal is an easy-to-use diabetes-monitoring device designed for the doctor's office. The product is already available outside the US but the latest approval will now allow Provalis to market the product through its US distributor Bio-Rad Laboratories. Provalis surged 12p (32.5%) at 32.5p.
Aug 23/2000
Provalis (LSE: PRO.L - news) (PRO), the biotechnology company, has won US regulatory approval for a new fast response diabetes test kit. The decision, expected to be announced today, will enable the company to sell the kits in the US which is the world's biggest market for diabetes products.
Wolf |
