SkyePharma (LON:SKP) - The end of the beginning

Friday, Apr 27 2012 by

Apr 27th 2012 - Edison Investment Research today published a report on SkyePharma (SKP.L, LSE:SKP, LON:SKP) entitled "The End Of The Beginning". In summary, the report says:

“This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” The words of Sir Winston Churchill could well be applied to Flutiform’s tortuous regulatory process which, with the CHMP’s positive opinion, has at last met with a positive outcome. Assuming that Flutiform is approved – effectively a formality – and launched, £83m of convertible bonds must be refinanced without unduly diluting equity holders. If SkyePharma were to achieve this, focus would at last revert to its operating activities, which the market cap should begin to reflect.




About Edison Investment Research

Edison Investment Research

Follow

Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »