Ranger reports on disappointing and frustrating year – Embattled Ranger Direct Lending has published its annual report for the year ended 31 December 2017. As its chairman points out, 2017 was a disappointing and frustrating year for the company. Total NAV returns fell by 2.95% in US dollar terms, but a sharp decline in the […]
Honeycomb beats its dividend target – Honeycomb Investment Trust has released its accounts covering the year ended 31 December 2017. Over the year the NAV increased to 1018.4p from 1014p. The £105m fund raising that they carried out last May, which was done at a premium to asset value, benefitted ongoing shareholders and added 1.03% to […]
GRIT focused on three key investments – Global Resources Investment Trust (GRIT) has published its annual results. The NAV has slipped to 19.7p from 22.4p but there is the potential for an uplift in this figure if its Kalia deal is agreed – see below. “In the Interim Report, we advised that Siberian Goldfields had […]
WPCT investors nervously await key Prothena data readout Investors in Woodford Patient Capital Trust (WPCT) should watch for a key data readout from US-listed but Ireland-based Prothena (NASDAQ:PRTA) expected anytime in the next few weeks, which could potentially add up to 5% to the value of the trust in event of a positive result but reduce […]
WWH’s hedging of Merck-BMS data comp backfires Worldwide Healthcare Trust’s (WWH) apparent attempt to hedge its bet on the outcome of the three trials of anti-pd(L)-1 checkpoint inhibitors in first-line treatment of non-small cell lung cancer that were reported simultaneously yesterday appears to have backfired, after the stock market determined the data justified an asymmetric response. […]
Shire disposal leaves BB Healthcare stake in limbo Shire Pharmaceuticals’ announcement this morning of an agreement to sell its oncology business to Servier for $2.4bn in cash, leaves the stake in the company held by BB Healthcare Trust (BBH) – the only sector specialist investment trust to have significant exposure – in limbo. This is because […]
BG-backed Orchard buys GSK rare disease portfolio Baillie Gifford-backed gene therapy company Orchard Therapeutics has acquired GlaxoSmithKline’s portfolio of investigational and approved rare disease gene therapies in exchange for a 19.9% equity stake as well as undisclosed milestones and royalties on sales. The acquired product portfolio includes Strimvelis, GSK’s EU-approved gene therapy for children with adenosine deaminase severe […]
Worldwide Health offers a way to play AACR lung data reveal London-listed Worldwide Healthcare Trust (WWH) could be best way for trust investors to obtain exposure to what is likely to be the most important clinical data disclosure involving large cap pharmaceutical companies this year. This is set to occur next Monday (16 April) at the American Association […]
BB Biotech may have to take hit on Incyte stake Switzerland’s BB Biotech (BBB.S) looks set to be in for a difficult month in terms of performance as a result of the negative result reported in a Phase III trial of a drug from Incyte Pharmaceuticals (Nasdaq:INCY), which was the trust’s third largest holding accounting […]
Syncona sees slight dip in NAV as Nightstar declines UK hybrid biotech investor/fund-of-funds Syncona (SYNC) saw a 0.8% fall in its NAV in February according to its latest factsheet, principally as a result of an 8% decline in the value of its holding in US-listed Nightstar Therapeutics. Syncona holds a 42% stake in this Nasdaq-quoted, but UK […]
