La croissance des profits des trois premiers trimestres de 2016 est de 7% par rapport à ceux de 2015. Il commence à y avoir un disconnect entre la croissance et le P/E...
En effet Phil les investisseurs sont généreux. On attend tous que Cysview se fasse sentir ( 5M. ) + Nouveau produit cardiaque à venir ( 20M. ) mais falloir patienter.
Je crois qu'il va falloir attendre l'année 2018 pour collecter ces revenus prometteurs.
Je commence la présentation aux investisseurs à l'instant, mais j'ai l'impression à première vue que les ventes seront plus récurrentes à l'avenir. En multipliant les ventes de 4,5M$ par 4, on obtient 18$M de vente sur une année complète.
On pourrait projeter 17$M-17,5$M pour 2016. Environ 13% de croissance pour 2016. Ce n'est pas non plus démoralisant étant donné le fait que Cysview ne semble pas encore avoir de traction et que plusieurs autres produits ont et auront encore beaucoup croissance. Les nouveaux produits semblent également porteurs, bien hâte de voir la suite.
C'est vrai qu'à 9$ le titre semblait un peu cher, mais je considère ce titre comme étant le véhicule de luxe par excellence en terme d'investissement, la Cadillac des titres boursiers.
Voici pourquoi : Revenu stables et prévisibles, peu exposé à l'économie, aucune dette, une position cash importante, une belle croissance, potentiel futur très intéressant, management semble solide et qui semble intègre, peu de risque lié à la concurrence, diversification des produits de plus en plus marquée et surtout, le potentiel de l'arrivée d'un nouveau produit qui pourrait multiplier les avenues de croissance pour les prochaines année. Parfois il faut savoir payé un peu plus cher pour être certain d'avoir de la qualité.
Une confirmation de l'intégration de Cysview dans un Hôpital de Toronto. Toujours une bonne nouvelle de savoir que de meilleurs soins pourront être disponibles et faire une différence pour les patients.
J'ai l'impression que Cysview a faite une grosse part de croissance dans ce trimestre. Si oui je ne suis pas prêt à dire que ce trimestre devient une référence de base.
Mais on voit que lorsque Cysview et les 2produits cardiaques à venir procureront des revenus récurrents, les bpa vont exploser.
Le rapport de gestion indique qu'un hôpital a fait un achat de Cysview. Cette section explique bien le détail de la croissance :
The Community Business also saw growth in sales of its other pharmaceutical products in 2016, including FeraMax® Powder and RepaGyn® , for which the domestic sales volumes (units) grew by 27% and 65%, respectively, over 2015 sales volumes. The Company’s Hospital Business achieved significant growth in percentage terms in 2016 over 2015 with the successful re-launch of Aguettant System® Atropine Sulphate PFS during the year. Sales volumes of Cathejell® Jelly 2% (units) also served as a significant growth driver, with sales volumes increasing by 17% in 2016 over 2015 sales volumes. Newly launched products, Cysview® and Aguettant System® PFS Phenylephrine Hydrochloride, also contributed to the growth of the Hospital Business in 2016. Sales of both of these products occurred late in the year. The Canadian launch of Cysview® has been met with enthusiasm from the Canadian urological community, with an endorsement from leading members of the Canadian Urological Association (CUA) for the use of Cysview® in non-muscle invasive bladder cancer. The 2016 sales of Cysview® fell short of management’s expectations; however, progress has been made with key opinion leaders in the urological community and key decision-makers in hospitals in gaining recognition of Cysview® as an emerging standard of treatment for non-muscle invasive bladder cancer. Cysview®, which was launched in November 2015, is experiencing a longer than anticipated selling cycle with urology centres across Canada due to the need to synchronize the capital spending budget of hospitals for the purchase of new blue-light cystoscopy-enabled urology equipment with the selling activities of the manufacturer of this blue-light enabled equipment. In order to facilitate the budgetary discussions with hospitals and agencies, the Company has invested in a health economic study to demonstrate the cost effectiveness of adopting Cysview® for the detection and treatment of non-muscle invasive bladder cancer. This together with the strong clinical experience at the key opinion leader level with Cysview® as well as the endorsement of the use of Cysview® by Canadian key opinion leaders lets management believe that the foundation for future sales has been set. Therefore, the Company was encouraged by a significant order of Cysview® from a Canadian hospital in the fourth quarter of 2016.
International Pharmaceutical Sales: The Company has now recorded sales to a total of five countries outside Canada, including orders shipped to two new countries in 2016. On a quarter-over-quarter basis, Q4 international FeraMAX® sales of $496,617 were 202% higher compared to Q4 2015 sales of $164,490. Management’s Discussion and Analysis As at March 14, 2017 18 Although sales of FeraMAX® to international customers have now been recorded in eight consecutive quarters, international sales are typically high in terms of size and dollar value, but low in terms of frequency. As such, there is significant variability in the level of international sales from one quarter to the next and one period to the next. The Company continued to see growth in international sales of its FeraMAX® products during 2016, with sales of $1,549,538 increasing by 36% over 2015 sales of $1,142,035. This growth is despite the fact that additional production and logistical complexities in the international pharmaceutical business resulted in a delay in shipping a large, single international customer order received in 2016. Management previously anticipated that the order would be shipped in the fourth quarter of 2016, as indicated in its MD&A for the three and nine months ended September 30, 2016; however, shipment did not occur until Q1 2017.
TORONTO, ONTARIO (August 16, 2017) BioSyent Inc. (“BioSyent”, TSX Venture: RX) released today a summary of its financial results for the three and six months ended June 30, 2017. Key highlights include: Record second quarter (Q2) 2017 Net Revenues of $5,636,405 increased by 29% versus Q2 2016 First half (H1) 2017 Net Revenues of $9,457,667 increased by 16% versus H1 2016 Q2 2017 Pharmaceutical Net Revenues of $5,075,518 increased by 27% versus Q2 2016 with Canadian Pharmaceutical Net Revenues of $4,335,998 increasing by 16% versus Q2 2016 and International Pharmaceutical Net Revenues of $739,520 increasing by 188% versus Q2 2016 H1 2017 Pharmaceutical Net Revenues of $8,728,352 increased by 16% versus H1 2016 with Canadian Pharmaceutical Net Revenues of $7,690,695 increasing by 9% versus H1 2016 and International Pharmaceutical Net Revenues of $1,037,657 increasing by 103% versus H1 2016 Q2 2017 EBITDA1 of $2,023,234 increased by 45% versus Q2 2016 H1 2017 EBITDA1 of $3,214,558 increased by 21% versus H1 2016 Q2 2017 Net Income After Tax (NIAT) of $1,552,918 increased by 53% versus Q2 2016 H1 2017 NIAT of $2,454,474 increased by 25% versus H1 2016 Q2 2017 NIAT percentage to Net Revenues of 28% compares to 23% in Q2 2016 H1 2017 NIAT percentage to Net Revenues of 26% compares to 24% in H1 2016 Q2 2017 Fully Diluted EPS of $0.11 was 57% higher than Q2 2016 Fully Diluted EPS of $0.07 H1 2017 Fully Diluted EPS of $0.17 was 21% higher than H1 2016 Fully Diluted EPS of $0.14 Trailing Twelve Months Fully Diluted EPS of $0.33 for the twelve months ended June 30, 2017 was 22% higher as compared to $0.27 for the twelve months ended June 30, 2016 As at June 30, 2017, the Company had cash, cash equivalents, and short term investments totalling $14,702,627 as compared to $13,739,286 as at December 31, 2016 – a 7% increase At June 30, 2017, the Company remained free of debt and had available total credit facilities of $2,559,000 including an unutilized revolving demand credit facility of $1,500,000 Total Shareholders’ Equity increased by 16% from $16,726,716 at December 31, 2016 to $19,359,333 at June 30, 2017 Trailing Twelve Months Return on Equity for the twelve months ended June 30, 2017 was 33% “Q2 2017 was a record quarter for BioSyent, bolstered by our established brands and by continued growth in our international markets” commented René Goehrum, President and CEO of BioSyent. “We are pleased to have delivered a 28% net margin along with strong sales growth in the second quarter. While we continue to invest in growing our launch brands, our overall H1 2017 sales growth of 16% is in line with our expectations and the solid net margin of 26% for H1 2017 is in line with our strategy of delivering profitable growth.”
Je n'ai par contre pas aimé le prêt de 391$K à des "senior management" pour l'achat d'actions. J'espère le voir réduire ou disparaître au prochain trimestre.
On dirait bien que l'investissement dans l'organisation a porté fruit ce trimestre. Le coût des opérations en % est de beaucoup inférieur à la croissance des ventes.
On dirait bien que l'investissement dans l'organisation a porté fruit ce trimestre. Le coût des opérations en % est de beaucoup inférieur à la croissance des ventes.
Le prix de l'action est toujours bien évalué.
Bien d'accord, un trimestre surprise car nous étions plusieurs à penser que la croissance serait moindre en attendant les revenus de Cysview et des cardiovascular products. Espérons que l'équipe au développement des affaires pourra nouer des ententes pour des nouveaux produits d'ici 2019.
Intéressant de constater que le brand Feramax devient plus international. Nous savons maintenant qu'il y a 10 ententes avec des pays de signées et que des ventes furent effectuées dans 6 de ces marchés à ce jour (corporate fact sheet).
Biosyent n'a pas mentionné un autre pays que le Canada. Bien que les liens ci-dessous contiennent des informations limitées, il est tout de même fait mention de quelques régions. ...mais ces liens sont à prendre avec un grain de sel. Ce n'est pas parce que le représentant de RX est allé à une exposition au Mexique qu'un distributeur fut nécessairement trouvé.
Goehrum explains that BioSyent hopes to commercialize new product deals in the Middle East, Latin America and Southeast Asia.
Bons résultats pour le trimestre malgré que Cysview n'a pas commencé à contribuer significativement. 27 % de ROE sans dette avec 17 M$ de cash, pas besoin de s'excuser pour le ROE en baisse comme l'indique le CEO...
Le tout pave la voie à une année 2018 qui devrait permettre d'avoir des réponses de Santé Canada pour les prochains produits à commercialiser. Même en étant à près d'un 10 baggers (le passé veut rien dire je sais)... je continue de trouver que les perspectives à long terme sont attrayantes.
Haha, ça pourrait possiblement se faire, le problème, c'est que risque de taux de change, risque de taux d'intérêt et risque de perdre un client reviendraient pas mal souvent pour toutes les compagnies ! (ou encore la température pour les retailers!!!)
Deux articles récents sur Cysview en cette journée mondiale contre le cancer. Un du Toronto Sun et le second de Urology Times.
Dr. Jack Barkin, a prominent urologist at Humber, is excited about leading the charge with the innovative technology and says it’s just the beginning of improved care and better outcomes for bladder cancer patients in Canada. “It’s a real game changer in urology – bladder cancer is so common and we know there’s a high recurrence rate.” Bladder cancer is the fifth most common cancer in Canada, the fourth most common in men, and 80% are classified as NMIBC. “It’s the most expensive cancer to treat and recurrence is still a significant problem in the management of NMIBC,” says Barkin, adding that it has an overall rate of recurrence of up to 61% at one year and 78% at five years.
In 2014, 8,000 Canadians were diagnosed with bladder cancer – that year there were 2,200 deaths from bladder cancer. The current treatment is inadequate and costly, says Barkin, adding that “early diagnosis of NMIBC is essential to minimizing the risk of recurrence or progression to muscle invasive disease.”
Les ventes internationales sont plus significatives avec des revenus en provenance de 8 pays. Maintenant 19 M$ de cash sans dette.
TORONTO, ONTARIO (March 21, 2018) BioSyent Inc. (“BioSyent”, TSX Venture: RX) released today a summary of its financial results for the three and twelve months ended December 31, 2017. Key highlights include:
Fourth quarter (Q4) 2017 Net Revenues of $5,901,488 increased by 18% versus Q4 2016
Full Year (FY) 2017 Net Revenues of $20,762,755 increased by 16% versus FY 2016
Q4 2017 Canadian Pharmaceutical Net Revenues of $4,937,297 increased by 12% versus Q4 2016 and International Pharmaceutical Net Revenues of $868,917 increased by 75% versus Q4 2016
FY 2017 Canadian Pharmaceutical Net Revenues of $16,856,703 increased by 12% versus FY 2016 and International Pharmaceutical Net Revenues of $2,476,902 increased by 60% versus FY 2016
Q4 2017 EBITDA1 of $1,961,159 increased by 23% versus Q4 2016
FY 2017 EBITDA1 of $6,910,977 increased by 17% versus FY 2016
Q4 2017 Net Income After Tax (NIAT) of $1,457,228 increased by 33% versus Q4 2016
FY 2017 NIAT of $5,206,277 increased by 21% versus FY 2016
Q4 2017 NIAT percentage to Net Revenues of 25% compares to 22% in Q4 2016
FY 2017 NIAT percentage to Net Revenues of 25% compares to 24% in FY 2016
Q4 2017 Fully Diluted EPS of $0.10 was 25% higher than Q4 2016 Fully Diluted EPS of $0.08
FY 2017 Fully Diluted EPS of $0.36 was 20% higher than FY 2016 Fully Diluted EPS of $0.30
As at December 31, 2017, the Company had cash, cash equivalents, and short term investments totalling $19,338,435 as compared to $13,739,286 as at December 31, 2016 – a 41% increase
Total Shareholders’ Equity increased by 33% from $16,726,716 at December 31, 2016 to $22,212,927 at December 31, 2017
Return on Equity for 2017 was 27% as compared to 30% for 2016
Réponses
Je crois qu'il va falloir attendre l'année 2018 pour collecter ces revenus prometteurs.
http://www.insidetoronto.com/community-story/7093071-donors-help-bring-cysview-technology-to-humber-river-hospital-s-urology-department/
Très bons résultats ce matin.
http://www.biosyent.com/q4-16/#.WMkvWE0zXug
J'ai l'impression que Cysview a faite une grosse part de croissance dans ce trimestre. Si oui je ne suis pas prêt à dire que ce trimestre devient une référence de base.
Mais on voit que lorsque Cysview et les 2produits cardiaques à venir procureront des revenus récurrents, les bpa vont exploser.
sales of its other pharmaceutical products in 2016, including FeraMax® Powder and RepaGyn®
,
for which the domestic sales volumes (units) grew by 27% and 65%, respectively, over 2015 sales
volumes.
The Company’s Hospital Business achieved significant growth in percentage terms in 2016 over
2015 with the successful re-launch of Aguettant System® Atropine Sulphate PFS during the year.
Sales volumes of Cathejell®
Jelly 2% (units) also served as a significant growth driver, with sales
volumes increasing by 17% in 2016 over 2015 sales volumes. Newly launched products,
Cysview® and Aguettant System® PFS Phenylephrine Hydrochloride, also contributed to the
growth of the Hospital Business in 2016. Sales of both of these products occurred late in the
year.
The Canadian launch of Cysview® has been met with enthusiasm from the Canadian urological
community, with an endorsement from leading members of the Canadian Urological Association
(CUA) for the use of Cysview®
in non-muscle invasive bladder cancer. The 2016 sales of
Cysview®
fell short of management’s expectations; however, progress has been made with key
opinion leaders in the urological community and key decision-makers in hospitals in gaining
recognition of Cysview® as an emerging standard of treatment for non-muscle invasive bladder
cancer.
Cysview®, which was launched in November 2015, is experiencing a longer than anticipated
selling cycle with urology centres across Canada due to the need to synchronize the capital
spending budget of hospitals for the purchase of new blue-light cystoscopy-enabled urology
equipment with the selling activities of the manufacturer of this blue-light enabled equipment. In
order to facilitate the budgetary discussions with hospitals and agencies, the Company has
invested in a health economic study to demonstrate the cost effectiveness of adopting Cysview®
for the detection and treatment of non-muscle invasive bladder cancer. This together with the
strong clinical experience at the key opinion leader level with Cysview® as well as the
endorsement of the use of Cysview® by Canadian key opinion leaders lets management believe
that the foundation for future sales has been set. Therefore, the Company was encouraged by a
significant order of Cysview® from a Canadian hospital in the fourth quarter of 2016.
The Company has now recorded sales to a total of five countries outside Canada, including
orders shipped to two new countries in 2016. On a quarter-over-quarter basis, Q4
international FeraMAX® sales of $496,617 were 202% higher compared to Q4 2015 sales of
$164,490.
Management’s Discussion and Analysis
As at March 14, 2017
18
Although sales of FeraMAX® to international customers have now been recorded in eight
consecutive quarters, international sales are typically high in terms of size and dollar value, but
low in terms of frequency. As such, there is significant variability in the level of international sales
from one quarter to the next and one period to the next. The Company continued to see growth
in international sales of its FeraMAX® products during 2016, with sales of $1,549,538 increasing
by 36% over 2015 sales of $1,142,035. This growth is despite the fact that additional production
and logistical complexities in the international pharmaceutical business resulted in a delay in
shipping a large, single international customer order received in 2016. Management previously
anticipated that the order would be shipped in the fourth quarter of 2016, as indicated in its MD&A
for the three and nine months ended September 30, 2016; however, shipment did not occur until
Q1 2017.
https://link.springer.com/content/pdf/10.1007/s00345-017-2077-6.pdf
its financial results for the three and six months ended June 30, 2017. Key highlights include:
Record second quarter (Q2) 2017 Net Revenues of $5,636,405 increased by 29% versus Q2 2016
First half (H1) 2017 Net Revenues of $9,457,667 increased by 16% versus H1 2016
Q2 2017 Pharmaceutical Net Revenues of $5,075,518 increased by 27% versus Q2 2016 with Canadian
Pharmaceutical Net Revenues of $4,335,998 increasing by 16% versus Q2 2016 and International Pharmaceutical
Net Revenues of $739,520 increasing by 188% versus Q2 2016
H1 2017 Pharmaceutical Net Revenues of $8,728,352 increased by 16% versus H1 2016 with Canadian
Pharmaceutical Net Revenues of $7,690,695 increasing by 9% versus H1 2016 and International Pharmaceutical
Net Revenues of $1,037,657 increasing by 103% versus H1 2016
Q2 2017 EBITDA1 of $2,023,234 increased by 45% versus Q2 2016
H1 2017 EBITDA1 of $3,214,558 increased by 21% versus H1 2016
Q2 2017 Net Income After Tax (NIAT) of $1,552,918 increased by 53% versus Q2 2016
H1 2017 NIAT of $2,454,474 increased by 25% versus H1 2016
Q2 2017 NIAT percentage to Net Revenues of 28% compares to 23% in Q2 2016
H1 2017 NIAT percentage to Net Revenues of 26% compares to 24% in H1 2016
Q2 2017 Fully Diluted EPS of $0.11 was 57% higher than Q2 2016 Fully Diluted EPS of $0.07
H1 2017 Fully Diluted EPS of $0.17 was 21% higher than H1 2016 Fully Diluted EPS of $0.14
Trailing Twelve Months Fully Diluted EPS of $0.33 for the twelve months ended June 30, 2017 was 22% higher as
compared to $0.27 for the twelve months ended June 30, 2016
As at June 30, 2017, the Company had cash, cash equivalents, and short term investments totalling $14,702,627
as compared to $13,739,286 as at December 31, 2016 – a 7% increase
At June 30, 2017, the Company remained free of debt and had available total credit facilities of $2,559,000
including an unutilized revolving demand credit facility of $1,500,000
Total Shareholders’ Equity increased by 16% from $16,726,716 at December 31, 2016 to $19,359,333 at June 30,
2017
Trailing Twelve Months Return on Equity for the twelve months ended June 30, 2017 was 33%
“Q2 2017 was a record quarter for BioSyent, bolstered by our established brands and by continued growth in our
international markets” commented René Goehrum, President and CEO of BioSyent. “We are pleased to have
delivered a 28% net margin along with strong sales growth in the second quarter. While we continue to invest in
growing our launch brands, our overall H1 2017 sales growth of 16% is in line with our expectations and the solid net
margin of 26% for H1 2017 is in line with our strategy of delivering profitable growth.”
Je n'ai par contre pas aimé le prêt de 391$K à des "senior management" pour l'achat d'actions. J'espère le voir réduire ou disparaître au prochain trimestre.
On dirait bien que l'investissement dans l'organisation a porté fruit ce trimestre. Le coût des opérations en % est de beaucoup inférieur à la croissance des ventes.
Le prix de l'action est toujours bien évalué.
http://www.biosyent.com/rx/corporate_management/#.Wa31DcjyjIU
http://www.biosyent.com/q3-17/q3-17_pr.pdf
In 2014, 8,000 Canadians were diagnosed with bladder cancer – that year there were 2,200 deaths from bladder cancer. The current treatment is inadequate and costly, says Barkin, adding that “early diagnosis of NMIBC is essential to minimizing the risk of recurrence or progression to muscle invasive disease.”
BioSyent Inc. (“BioSyent”, TSX Venture: RX) released today a summary of its financial results for the three and twelve
months ended December 31, 2017. Key highlights include:
International Pharmaceutical Net Revenues of $868,917 increased by 75% versus Q4 2016
International Pharmaceutical Net Revenues of $2,476,902 increased by 60% versus FY 2016
$19,338,435 as compared to $13,739,286 as at December 31, 2016 – a 41% increase
December 31, 2017