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UNS - Unilife Corporation

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Hi Kennas. Is it not enough to have a signature from a major pharma on a gargantuan contract ? Or do you need to see receipts first ?
 
habanero said:
Hi Kennas. Is it not enough to have a signature from a major pharma on a gargantuan contract ? Or do you need to see receipts first ?
Click to expand...

Have they not announced stuff like this before and yet still have tiny cashflows and receipts from customers? I dont follow this stock much, but i thought they had a major contract with Sanofi, where is the money from that?
 
prawn_86 said:
Have they not announced stuff like this before and yet still have tiny cashflows and receipts from customers? I dont follow this stock much, but i thought they had a major contract with Sanofi, where is the money from that?
Click to expand...

Tne sanofi deal was for industrialisation i.e. sanofi stumped up the money for the first unifill production line. This agreement to signed in the next few weeks could be Sanofi moving to the next stage which is a sales agreement.
THe tiny cash flows are from contracts such as that with the unknown pharma whereby the customer has been purchasing for tests and other purposes as required by law before they ramp up to full production this is due to start in the case of the unknown pharma on 1 july so it should show up in that quarter.
I am currently sitting on over 100% profit and am pretty glad i didnt take advice to get out
 
This company is potentially fraudulent.

A while ago they announced a contract with a company to provide millions in revenue.

Announcement on 09 April:

View attachment UNS Announcement.pdf

Then in their Q3 conference call on 10 May:


This was the impetus for the share price gain, even though they'd already announced this 'contract' weeks before. Perhaps the market has just been short UNS as pacestick suggests and it was an anomaly.

They were questioned by the ASX.

They then said they didn't actually have a contract, it was still being negotiated.

View attachment Unilife statement.pdf

How do you get away with this???

 

Hahaha someone's in trouble.

Like how the trading update is written by the compliance/legal.

This looks like the manipulated stocks in the Allen and Gale paper!
 
You have mixed two different contracts up the already signed one is for the ezymix syringe .The about to be signed one is for Unifill syringes. A totally different product produced by the same firm. The ezymix has been designed for a relativly small market where it is required to mix a dry powder drug with Sterile water imediatly before use . Tne Ezymix has two chambers which are mixed together by pressing the plunger imediatly before it is administered . It is designed to replace the situation where a vial of sterile water is broken open a drawn into a syringe and there mixed with the drug being administered.
The Unifill syringe is designed to carry the drug inside it untill used It is not double chambered as the drug can be stored in the syringe for a long period . I dont know how long but the tests which took so long to do would suggest years . This is the contract waiting to be signed . When will it be signed I suspect when the customer fits it into their schedule . Alan Shortal stated at the last CC in the next couple of weeks personally I believe it will be longer than that as this company has a long history of not meeting time lines . I am picking early June rather than late May which is the period Shortall suggested
 

cool, that makes sense. They should have clarified in the update which contract they were referring to!
 
skyQuake said:
cool, that makes sense. They should have clarified in the update which contract they were referring to!
Click to expand...
Yes, I had to read through all of the transcripts to see what they were referring to and it looks like the newer, unsigned, potential, supply of Unifill.

I must admit that I am biased because of the history of this company, especially it's CEO.

For anyone interested in checking the history simply google: Alan Shortall Roger Williamson

The lack of integrity is clear.
 
http://carpedmstocks.blogspot.com.au/


May
23
$UNIS - Analyst Updates in Case you missed them
Ladenburg

Subject: UNIS: Company Reports Another Financially Lackluster Quarter (Q3-2013) But That They Will Soon Announce a New Large Multi-Year Unifill Contract. Reiterating Buy Rating and Price Target of $4.75.
Please click on the link below to view the complete report on UniLife Corp. (UNIS):

UNIS: Company Reports Another Financially Lackluster Quarter (Q3-2013) But That They Will Soon Announce a New Large Multi-Year Unifill Contract. Reiterating Buy Rating and Price Target of $4.75.

Unilife reported a net loss of $14.1 million and $0.17 per share on revenues of $685,000 for the quarter as compared to our estimates for a loss $0.14 and $3.2 million of revenue and consensus estimates calling for a loss of $0.13 and revenue of $2.5 million. Adjusted EPS loss for the quarter was $0.12 per share and a loss of 9.4 million. R&D and SG&A for the quarter were $5.5 million and $7.3 million as compared to our estimates of $5.3 million and $7.9 million respectively.

We believe that the revenue miss for the quarter was largely due to delays in converting development and supply agreements for the Company’s product portfolio.

However, the Company did reiterate that “CY-2013 would be the inflection point for their business” and that they “have turned the corner” and will “now be entering a period of hyper-growth and [that they] expect to generate accelerating, recurring revenue from an expanded base of customers.

In addition to last month’s announcement for a 15-year $110 million dollar supply contract for their EZMix dual-chamber, Unilife announced that they are getting ready to announce their first major long term supply contract for the Unifill syringe which would result in a significant multi-year contract with a major pharmaceutical company and would generate revenues immediately (Q1-2014). The Company plans to hold a press conference in the next couple of weeks in New York.

A of March 31st 2013 the company had $9.6 million in cash and restricted cash ($2.0 million) and had agreed to preliminary terms with a major life science financing firm for a debt funding program which is expected to become finalized in late May. Unilife also currently has an active $45 million at-the-market (ATM) facility with a current available remaining balance $41.2 million.

Previous FY-2013 and FY-2014 EPS and revenue estimates of $11.3 million (-$0.57) and $43.8 million (-$0.22) have been adjusted to $2.8 million

(-$0.67) and $34.8 (-$0.29) respectively. Cash burn for the quarter was approximately $12.5 million and comparable with the previous quarter (Q2-2013).

We are encouraged by the news of a large impending contract and anxiously await material evidence which could impact the Company’s revenue and growth profile.

Our price target of $4.75 is based upon the average of two valuation metrics which include a price to earnings (P/E) ratio based upon FY-2016 earnings, and an appropriate enterprise value to revenue multiple.

For detailed information and disclosures, including risks pertaining to this specific recommendation, please see the full research report and refer to Appendix A – for important research disclosures.

Jefferies

Unilife Corporation (UNIS): Aces in Hand: Commercial Deal Flow Appears Imminent
Rating BUY
Price Target $3.50
Price $1.85
Key Takeaway
Unilife’s F3Q print was a non-event as revenues remain minimal and cash burn high. The bigger stories are the EZMix and Unifill deals which are forecasted to drive meaningful revenue come F14. We stay at Buy as the story transitions into the initial growth phase.
3Q light as revenues still slow to materialize. Unilife reported light F3Q results with revenues of $0.7mn and ($0.17) better than our $0.7mn and ($0.18) forecast but below the Street’s $2.6mn and ($0.14) forecast. The company ended the F3Q with $7.6mn in cash (net of $1.9mn in restricted cash); this is down from $15.5mn earlier in the Q and is inclusive of $9.6mn in net proceeds from the Feb 13 equity raise.
EZMix deal inked; Unifill deal imminent. The EZMix deal announced in early April ’13 is for a proprietary version of a lyophilized drug that is in late stage clinical development, although the therapy itself is already approval. The deal is sized to bring in $110mn in revenues over a 15-year period; the $7.3mn in annual revenue will be a combination of customization and production scale-up fees, commercial device sales, and royalties in exchange for worldwide exclusivity on EZMix. The more meaningful deal is the first commercial supply agreement for Unifill with an undisclosed pharmaceutical partner that is positioned to generate immediate commercial revenue flow also beginning in F14.
Staying at Buy into commercial deal flow. So far this year, Unilife has delivered on two of 13 active deals expected to contribute in calendar year 2013. So while the company has fallen short on its initial timelines to generate commercial revenues, this previously disclosed pipeline is slowly transitioning into backlog. With the cash burn still high, we see the potential for much better performance as deals mature followed by a dramatic ramp upon commercialization as reasons to own the stock.

Valuation/Risks
Our $3.50 PT is derived using a forward EV/Sales target of 3x multiple on our revised F15E revenue forecast. Risks include delays in Unifill commercialization agreements and ability to scale manufacturing.
 
To avoid confusion this is not the big contract expected that is still coming. However it is the first of the three companies with signed contracts that is prepared to release its name

Biodel Plans To Submit NDA To FDA In 2015 For Novel Glucagon Rescue Device
By RTT News, June 06, 2013, 06:13:00 AM EDT
Vote up


(RTTNews.com) - Biodel Inc. ( BIOD ) announced that it plans to submit a New Drug Application or NDA to the FDA in 2015 for a novel glucagon rescue device to treat severe hypoglycemia.

The company said it expects to select a final formulation of its novel glucagon therapy and appoint a contract manufacturing partner during the current calendar quarter. Previously Biodel signed a long-term commercial supply agreement for bulk glucagon.

The submission of an Investigational New Drug application to the FDA is expected during the next 12 months. Initiation of a pivotal clinical study is expected to occur during the second half of 2014, putting the company in a position to file an NDA to the FDA under the 505(b)(2) regulatory pathway in 2015, the company said.

In preparation for the anticipated regulatory filing and commercial launch of its glucagon rescue product, Biodel has signed a 15-year supply agreement with Unilife Corporation for a customized proprietary device from its EZMix platform of dual-chamber devices with worldwide exclusivity for use with glucagon.

According to the company, the device has been customized for convenient portability and ease of use to enable rapid treatment during emergency situations with little to no training. The device automatically reconstitutes lyophilized glucagon when prepared for injection and features automatic, user-controlled retraction of the needle upon full dose delivery, virtually eliminating dosing errors and the risk of needle stick injuries.

For comments and feedback: contact editorial@rttnews.com

http://www.rttnews.com

This article appears in: News Headlines

Referenced Stocks: BIOD, UNIS


Read more: http://www.nasdaq.com/article/biode...on-rescue-device-20130606-00086#ixzz2VTDV9tUz
 
this letter was released by the company in response to an asx querry

June 17, 2013
Dear Unilife stockholders
I am pleased to advise that multiple deals with pharmaceutical customers relating to our Unifill ® platform and other game-changing technologies are now either complete or in the final stages of negotiation.
We have successfully completed negotiations with a global pharmaceutical company for a major long-term
supply contract for the Unifill syringe as referred to during our last earnings call. I can advise that this
contract is finalized with all terms having been agreed upon by both parties. The formal process of having
the execution copy of the contract signed is now taking place, and we have been advised by the customer
that it may require an additional few days or weeks to complete. While this process is taking slightly longer
than both parties originally anticipated, it is understandable given the size of the Company and the number
of steps involved.
I share the eagerness of many of our stockholders regarding this upcoming news, which I believe will
accelerate our commercial progress. However I am also not concerned about one contract with one
customer taking a little longer to announce than expected. Our focus is to build long term partnerships with a
diversified customer base and deliver substantial revenue and sustainable growth over coming years. In that
regard, I am very pleased with the fundamentals of our Company and excited about our future. I would
therefore like to take this opportunity to update you on some other significant commercial developments.
We expect to finalize negotiations with several additional pharmaceutical companies relating to our Unifill
platform of syringes this calendar year. I believe that some of these upcoming agreements have the
potential to be of equal or even greater financial magnitude than the contract I referred to above. In parallel,
we are also continuing to supply Unifill syringes to a number of other pharmaceutical companies who are
conducting human factor studies, drug compatibility studies and fill-finish integration studies. In each case,
the customer’s goal is to commercialize their drugs in various configurations from our Unifill platform. For
example, I can advise that batches of Unifill syringes will be delivered to four separate pharmaceutical
companies this week alone.
We must also not forget our first supply contract for the Unifill syringe that was signed last year, under which
we are supplying the product to a customer for use with a generic injectable drug in the autoimmune
therapeutic class. Significant commercial revenue and exclusivity fees are expected to begin under this
seven year contract during fiscal year 2014.
However Unilife is not a one product company. In recent years, our investments in R&D have created the
most expansive and highly differentiated portfolio of injectable drug delivery systems in the world. Our
proprietary technology platforms today span prefilled syringes, auto-injectors, wearable injectors,
reconstitution systems, intraocular delivery systems and specialized devices. Commercial negotiations
regarding customization programs and commercial supply contracts are now underway with multiple
pharmaceutical companies for more than a dozen products across these six platforms.

In April 2013, we announced our first long-term contract for the EZMix™ dual-chamber syringe, a gamechanging
system for the reconstitution and mixing of liquid or dry drug combinations. We have already
begun to generate revenue under the 15-year contract, and will be conducting user evaluation studies with
the customer this week. With the EZMix requiring only one intuitive step for reconstitution, we expect our
product will play a key role in differentiating their drug from the competition to rapidly secure market share
within this fast-growing market. We therefore look forward to the commercial launch of this product, targeted
for filing with the FDA in 2015, where, in addition to revenues from the sales of the EZMix syringe, we will
also share in their net drug sales via the receipt of exclusivity and royalty fees.
This customer is one of more than 15 pharmaceutical companies now pursuing products from within our
EZMix platform. Given the revolutionary nature of this proprietary technology, I can advise that many of
these prospective customers desire exclusivity to our EZMix products for use with a target drug. Having now
been informed by several customers that they have selected EZMix for use with target drugs, we look
forward to the finalization of some exciting agreements over the coming year.
Another significant area of commercial opportunity for Unilife relates to our wearable injectors (also known
as patch pumps or bolus injectors) for the subcutaneous delivery of long-duration or large volume drugs.
Several pharmaceutical companies have now advised us of their selection of our wearable injectors for use
with target programs that each includes up to seven pipeline drug candidates. In each case prior to our
selection, the pharmaceutical company conducted extensive evaluations comparing our wearable injectors
against competitor devices. This market sector is poised to experience hyper-rates of growth over the
coming decade, and we are considered to be the clear market leader by our customers.
We will begin to recognize revenue via customization programs and product sales for our wearable injectors
from several customers throughout fiscal year 2014. Many of these companies have also requested
exclusivity rights for a target therapy.
Significant progress is also being made with a multitude of other pharmaceutical customers seeking access
to additional products within our portfolio including the RITA™ disposable auto-injector, the LISA™ reusable
injector, Depot-ject™, Ocu-ject™ and Micro-ject™. Furthermore, I am pleased to advise that we have
successfully completed the first phase of a clinical development program announced in 2011 with a global
pharmaceutical company for our specialized device that will deliver a novel drug directly into a target organ.
The next program phase is now underway with additional revenue to be recognized in 2014.
With so many programs with so many customers now accelerating rapidly in parallel, a steady progression
of transformational, revenue-generating announcements can be expected between now and the end of the
calendar year. Together, I expect these upcoming agreements will herald our emergence as the new global
leader for injectable drug delivery. We remain fully on track to achieve our business milestones for calendar
year 2013 and beyond. Thank you for your continued support.
Yours sincerely
Alan Shortall
 
pacestick said:
this letter was released by the company in response to an asx querry

June 17, 2013
Dear Unilife stockholders
...
Click to expand...
LOL

The ASX is asking them for market updates now.

Why would a regulatory body do that?

 
Shortall made an announcement about a contract that sent the share price up. After seven weeks there is still no contract. The ASX is right to question this. Without a contract it just looks like Shortall is manipulating the share price.
 
Draco5 said:
Shortall made an announcement about a contract that sent the share price up. After seven weeks there is still no contract. The ASX is right to question this. Without a contract it just looks like Shortall is manipulating the share price.
Click to expand...

His letter to shareholders a couple of days ago sounded more like a H0tC0pper ramp than something you'd expect from a CEO. He's almost accusing people for their lack of patience, rather than acknowledging that he's failed his own timeline. Not to mention how he's never delivered the big revenue numbers that he seems to promise every so often.

I am open to the possibility, but I would be extremely surprised if this ends well.
 
Still no contract. I think he said it was all signed a couple of weeks ago.

So, it's finalised, but not really finalised. If the 'execution copy' ie THE CONTRACT, is not signed, then it's not finalised.



I note that they have drawn down around $10m of the ATM facility the past couple of weeks. I think in an interview a while ago he stated that this would not likely be used and was a contingency.

I think they needed to draw down on that to pay the staff incentives, also issued the past couple of weeks...
 
kennas said:
Still no contract. I think he said it was all signed a couple of weeks ago.


So, it's finalised, but not really finalised. If the 'execution copy' ie THE CONTRACT, is not signed, then it's not finalised.
Click to expand...

It's a roundabout way of saying both parties have a copy of the agreed contract but it hasn't been signed yet.


The steps of any contract is:

1. Contract prepared;
2. Parties negotiate the conditions;
3. Parties agree on the conditions;
4. Parties execute the contract, that is, they sign the contract which is normally subject to conditions whether precedent or subsequent;
5. The conditions are met and the contract goes unconditional;
6. The parties complete the contract; "Complete" is the legal term.

According to the company's statement it would appear the contract is at step 3.

Cheers
Country Lad
 
Well, two months later and they have not signed, or conditions haven't been met, so they haven't 'completed' the contract. Two months, to sign (say, 5 seconds) and what conditions take two months to meet? Perhaps they never meet them.
 
Well, the only significant announcement since the new ground breaking contract was finalised some time ago is the directors have been issued some share based incentives (or just rort) based on nothing anybody is probably aware of. Apparently approved by shareholders. It's listed as:

15,000 common shares (equivalent of 90,000 CDI’s as approved by shareholders)

That was 6 July. Why they were issued then is anyone's guess.

I wouldn't be surprised if the ASX ask for another update on this 'supply contract', announced 13 May. Is that 10 weeks ago?

Or, the ASX is asleep at the wheel.

17 June:

 

Quarterly out.

Revenue: $132K
Net loss: $10.4M
YTD Loss: $41.3M

This is the period of "hyper growth".
 
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