Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>Aptamer Group 0.33p £6.57m (APTA.L) The developer of novel Optimer binders to enable innovation in the life sciences industry yesterday reported Interims to December 2024.</li>
<li>Its revenue improved to £0.7m from £0.3m with an EBITDA loss of £1.1m down from £1.8m, while net cash is £2m after raising funds last year at 0.2p.</li>
<li>The strategy is to create value through the development of high-value Optimer assets with licensing potential through commercial partners, while generating revenues from fee-for-service work, which has a 43% gross margin. </li>
</ul>


Aptamer Group 0.33p £6.57m (APTA.L) The developer of novel Optimer binders to enable innovation in the life sciences industry yesterday reported Interims to December 2024.
Its revenue improved to £0.7m from £0.3m with an EBITDA loss of £1.1m down from £1.8m, while net cash is £2m after raising funds last year at 0.2p.
The strategy is to create value through the development of high-value Optimer assets with licensing potential through commercial partners, while generating revenues from fee-for-service work, which has a 43% gross margin. 


10X Genomics Inc-Class A - Hybridan Small Cap Feast: 12/03/2025

<ul>
<li>The medical technology Company is focussed on the durable healing of wounds and the prevention of amputations through its unique intermittent Topical Wound Oxygen (TWO2) and Negative Pressure Wound (NEXA) therapies, and this morning updated on trading for Y/E December 2024.</li>
<li>Revenue is expected to be more than $58.1m,which is 32% increase on 2023. Growth outside the Veterans Affairs (VA) sector has helped to diversify the sales mix such that the VA sector, whilst continuing to grow, accounted for less than 60% (2023: 72%) of Group revenues.</li>
<li>Investment in new market channels has given earlier access than planned to large and higher margin sectors. </li>
</ul>


The medical technology Company is focussed on the durable healing of wounds and the prevention of amputations through its unique intermittent Topical Wound Oxygen (TWO2) and Negative Pressure Wound (NEXA) therapies, and this morning updated on trading for Y/E December 2024.
Revenue is expected to be more than $58.1m,which is 32% increase on 2023. Growth outside the Veterans Affairs (VA) sector has helped to diversify the sales mix such that the VA sector, whilst continuing to grow, accounted for less than 60% (2023: 72%) of Group revenues.
Investment in new market channels has given earlier access than planned to large and higher margin sectors. 


Research from Hardman & Co, Hardman & Co

Hardman & Co

Research from Hardman & Co

Investment research on quoted companies and funds

Hardman & Co is a multi-disciplinary financial consultancy and investment research firm, employing highly experienced analysts and professionals with a broad range of capital markets expertise. Our clients are public and private businesses as well as fund managers, ranging from start-ups to £1 billion+ market capitalisations. Hardman & Co offers corporate research & consultancy, serving the needs of both public and private companies. We produce gold-standard research with a global reach for trading and investment companies, as well as providing market commentary and analysis. In addition, we carry out a number of bespoke investment-related assignments, including due diligence on bond listings, assessments of private company valuations and other corporate advisory services. We engage with the market through traditional and digital media, offering illuminating video content on corporate management strategy, results communication, interviews and in-house sector discussion.

Thematic (Sector/Industry)

<ul>
<li>Only Cordiant and Pantheon buck the trend...</li>
<li>For the remaining 29 quoted Infrastructure Investment Companies (IICs) and the Renewable Energy Infrastructure Funds (REIFs), 2024 was a dire year ‒ as was 2023.</li>
<li>NAV discounts widened appreciably, while some REIFs, in particular, really struggled.</li>
</ul>


Only Cordiant and Pantheon buck the trend...
For the remaining 29 quoted Infrastructure Investment Companies (IICs) and the Renewable Energy Infrastructure Funds (REIFs), 2024 was a dire year ‒ as was 2023.
NAV discounts widened appreciably, while some REIFs, in particular, really struggled.


Quoted UK Infrastructure and Renewable Energy ‒ A year of trials and tribulations

<ul>
<li>The Hardman &amp; Co Healthcare Index (HHI) has been running since 2009.</li>
<li>Its main function is to highlight the attractions of life sciences investments over the long term.</li>
<li>For the third year running, despite generally good returns in global markets, particularly in the US, performance in 2024 was poor, not helped by the capital-intensive nature of the sector.</li>
</ul>


The Hardman &amp; Co Healthcare Index (HHI) has been running since 2009.
Its main function is to highlight the attractions of life sciences investments over the long term.
For the third year running, despite generally good returns in global markets, particularly in the US, performance in 2024 was poor, not helped by the capital-intensive nature of the sector.


Hardman & Co Healthcare Index: 2024 – Tough year for Life Sciences

Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

<ul>
<li>ADX Energy (ADX AU)C : target price of A$0.08 per share: Transaction with MND receives Austrian Ministerial acceptance – ADX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.</li>
<li>This was a key condition precedent to completing the transaction.</li>
<li>The transaction will provide funding for the drilling of key wells at Anshof that are expected to add reserves and production. </li>
</ul>


ADX Energy (ADX AU)C : target price of A$0.08 per share: Transaction with MND receives Austrian Ministerial acceptance – ADX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.
This was a key condition precedent to completing the transaction.
The transaction will provide funding for the drilling of key wells at Anshof that are expected to add reserves and production. 


United States

10X Genomics, Inc. operates as a life science and diagnostics company. The Company develops software for analyzing biological systems such as genetic and immune cells. 10X Genomics serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

10X Genomics (TXG US)

10X Genomics Inc-Class A - Hybridan Small Cap Feast: 12/03/2025

Aptamer Group 0.33p £6.57m (APTA.L) The developer of novel Optimer binders to enable innovation in the life sciences industry yesterday reported...

Hybridan

Hybridan Small Cap Feast: 12/02/2025

The medical technology Company is focussed on the durable healing of wounds and the prevention of amputations through its unique intermittent...

Hybridan

Quoted UK Infrastructure and Renewable Energy ‒ A year of trials and tribulations

For the remaining 29 quoted Infrastructure Investment Companies (IICs) and the Renewable Energy Infrastructure Funds (REIFs), 2024 was a dire year...

Hardman & Co

Hardman & Co Healthcare Index: 2024 – Tough year for Life Sciences

The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments...

Hardman & Co

Auctus on Friday - 08/09/2023

DX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)