#OVB Ovoca Bio - Research Thread:

Price: 15p
Market Cap: £12.2M
Shares in issue: 81.5M
Free float: 47.5%
Director Holdings: 38%
IP: BP-101 (Female Viagra) 100% owned
Cash & liquid Investments: c £15M

#OVB - IP:

BP-101 is a novel treatment for HSDD. Delivered in a nasal spray, it is effectively female viagra and addresses a high potential and untapped market.

BP101 has PASSED phase 3 trials in Russia and is awaiting approval for marketing, which is now due.

#OVB - timeline

Aug 18 - Ovoca Bio founded
Sep 18 - acquisition on IVIX
Mar 19 - P3 trials passed
Sep 19 - marketing application filed
Mar 20 - IVIX purchased 100%
Aug 20 - website published
Aug 20 - social media outlets set up
Sep 20 - Marketing approval due

#OVB - risk free?

Ovoca SP is currently underpinned entirely by cash and a liquid investment in POLY which is dividend paying and currently worth circa £12M alone. This leaves the entire pharmaceutical venture valued at net 0. It is a rare situation of low risk, high reward.

#OVB - Capital structure

Minimal shares in issue, low free float and a 38% director holding, the structure is such that on positive news (marketing approval) demand for stock will massively outstrip supply.

#OVB - summary

The trail of breadcrumbs in the timeline here is telling. Ovoca have passed phase 3, directors bought heavily, acquired 100% of the rights and set up marketing outlets the month before approval due.

With the price being sub cash / POLY, Ovoca is undervalued.

#OVB - targets

£22M MC - 27p pre news fair value

£50M MC - 60p short term on approval

£98M MC - 120p mid term on approval

Current price 15p

@OvocaB
http://Ovocabio.com