New Risk • Feb 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.74m (US$9.66m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-UK£2.4m). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Market cap is less than US$10m (UK£7.74m market cap, or US$9.66m). Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£207k net loss next year). Revenue is less than US$5m (UK£2.7m revenue, or US$3.4m). Reported Earnings • Feb 11
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: UK£0.047 loss per share (improved from UK£0.085 loss in FY 2023). Revenue: UK£2.74m (up 138% from FY 2023). Net loss: UK£3.50m (loss narrowed 43% from FY 2023). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 36%. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has fallen by 62% per year, which means it is significantly lagging earnings. Announcement • Feb 03
Oncimmune Holdings plc, Annual General Meeting, Feb 27, 2025 Oncimmune Holdings plc, Annual General Meeting, Feb 27, 2025. Location: 201 temple chambers, 3 7 temple avenue, ec4y 0dt, london United Kingdom Announcement • Jan 31
Oncimmune Holdings plc Provides Revenue Guidance for the First Half and for the Fiscal Year 2025 Oncimmune Holdings plc provided revenue guidance for the first half of fiscal year 2025. For the period, the company's revenue is likely to be approximately £1.4 million, an increase of circa 20% on the prior year (£1.19 million) and the Company continues to add to its broad pipeline of potential contracts.
For the year 2025, the company expects revenue to be in the region of £4 million, which would be an uplift of 33% vs FY2024 and growth of around 250% vs FY2023. The company expects to have much greater visibility on its revenue in the second half of the financial year. New Risk • Dec 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended February 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-UK£1.3m). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported February 2024 fiscal period end). Currently unprofitable and not forecast to become profitable next year (UK£1.4m net loss next year). Share price has been volatile over the past 3 months (10% average weekly change). Revenue is less than US$5m (UK£1.2m revenue, or US$1.5m). Market cap is less than US$100m (UK£17.3m market cap, or US$22.1m). New Risk • Nov 14
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 51% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-UK£1.3m). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£1.4m net loss next year). Revenue is less than US$5m (UK£1.2m revenue, or US$1.5m). Market cap is less than US$100m (UK£17.3m market cap, or US$21.9m). Breakeven Date Change • Oct 23
No longer forecast to breakeven The analyst covering Oncimmune Holdings no longer expects the company to break even during the foreseeable future. The company was expected to make a profit of UK£552.0k in 2025. New forecast suggests the company will make a loss of UK£207.0k in 2025. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (UK£14.3m market cap, or US$18.9m). Announcement • Aug 10
Oncimmune Holdings plc Reaffirms Revenue Guidance for the Fiscal Year 2024 and Provides Earnings Guidance for the Fiscal Year 2025 Oncimmune Holdings plc reaffirmed revenue guidance for the fiscal year 2024 and provided earnings guidance for the fiscal year 2025. The continued commercial traction, and expected acceleration due to the new commercial team fully bedding in, give Oncimmune's Board confidence in its revenue guidance for fiscal year 2024 of approximately £3 million (2023: £1.15 million from continuing operations).
On the back of continued revenue growth, the Board expects the Company to achieve profitability in fiscal year 2025. New Risk • Jun 10
New major risk - Negative shareholders equity The company has negative equity. Total equity: -UK£1.3m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£6.1m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-UK£1.3m). Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£1.1m net loss next year). Revenue is less than US$5m (UK£1.2m revenue, or US$1.5m). Market cap is less than US$100m (UK£11.9m market cap, or US$15.1m). New Risk • Jun 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Revenue is less than US$5m (UK£1.2m revenue, or US$1.5m). Market cap is less than US$100m (UK£10.9m market cap, or US$13.9m). Announcement • May 19
Oncimmune Holdings plc to Report First Half, 2024 Results on May 21, 2024 Oncimmune Holdings plc announced that they will report first half, 2024 results on May 21, 2024 Board Change • May 16
Less than half of directors are independent There are 3 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 new directors. 4 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Member of Scientific Board Ola Winqvist is the most experienced director on the board, commencing their role in 2018. Independent Non-Executive Director John Goold was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Mar 01
Oncimmune Holdings plc Provides Earnings Guidance for the Year 2024 Oncimmune Holdings plc provided earnings guidance for the year 2024. For the period, the company expects revenue to be approximately £3 million, compared with Fiscal Year 2023 revenue from continuing operations of £1.2 million, a growth rate of 150%. Coming up to the end of H1 Fiscal Year 2024, work to achieve approximately 75% of the forecast Fiscal Year 2024 revenue has been secured, with the majority of samples received or expected imminently allowing lab work to begin and revenue to be recognised in due course. Reported Earnings • Mar 01
Full year 2023 earnings released: UK£0.085 loss per share (vs UK£0.13 loss in FY 2022) Full year 2023 results: UK£0.085 loss per share (improved from UK£0.13 loss in FY 2022). Revenue: UK£1.15m (down 62% from FY 2022). Net loss: UK£6.15m (loss narrowed 33% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has fallen by 53% per year, which means it is performing significantly worse than earnings. New Risk • Feb 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-UK£4.2m). Revenue has declined by 14% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported August 2022 fiscal period end). Revenue is less than US$5m (UK£3.0m revenue, or US$3.8m). Market cap is less than US$100m (UK£17.8m market cap, or US$22.3m). Announcement • Feb 02
Oncimmune Holdings plc, Annual General Meeting, Feb 26, 2024 Oncimmune Holdings plc, Annual General Meeting, Feb 26, 2024, at 10:00 Coordinated Universal Time. Location: At the offices of Singer Capital Markets, 1 Bartholomew Lane London United Kingdom New Risk • Jan 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended August 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-UK£4.2m). Revenue has declined by 14% over the past year. Minor Risks Latest financial reports are more than 6 months old (reported August 2022 fiscal period end). Share price has been volatile over the past 3 months (11% average weekly change). Revenue is less than US$5m (UK£3.0m revenue, or US$3.8m). Market cap is less than US$100m (UK£18.4m market cap, or US$23.3m). Announcement • Nov 30
Oncimmune Holdings plc Announces Board Changes Oncimmune Holdings plc announced on 12 October 2023, Dr. Annalisa Jenkins has decided to step down from the Board and a new Senior Independent Non-Executive Director, Sally Waterman, has been appointed. The transition of Annalisa's responsibilities has now been completed and she has therefore ceased to be a director with immediate effect. Board Change • Nov 02
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 new directors. 5 experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Director Annalisa Jenkins is the most experienced director on the board, commencing their role in 2018. Senior Independent Non-Executive Director Sally Waterman was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Oct 12
Oncimmune Holdings plc Announces Changes to the Board Oncimmune's new focus on its ImmunoINSIGHTS business, having disposed of its early cancer diagnostic business in May 2023, the composition of Oncimmune's board of directors (the "Board") is undergoing further change. Tim Bunting, who has been a director of Oncimmune since 2016, has stepped down from the Board with immediate effect. Tim was one of Oncimmune's earliest investors and continued to support it for over 15 years, many of them as a non-executive director. Tim remains a major shareholder of Oncimmune, having supported its latest fundraise in December 2022, and has given his full backing to the Company's new management team. Dr Annalisa Jenkins has also decided to step down from the Board by the end of 2023. Annalisa has been a director of Oncimmune since January 2018 and has served as the Company's Senior Independent Director and Chair of its Remuneration Committee. To replace Dr Annalisa Jenkins, Oncimmune announced the appointment of Sally Waterman. Sally has over 30 years of strategic and operational experience in the life science industry, including leading R&D and extensive involvement in M&A, and has worked for large pharma, small biotech/biopharma and contract service companies. Once all of the changes set out above are completed, and following the departure of Andrew Unitt as previously announced on 12 July 2023, the Board will consist of Alistair Macdonald (Non-executive Chair), Dr Sally Waterman (Senior Independent Non-executive Director and Chair of the Remuneration Committee), John Goold (Independent Non-executive Director and Chair of the Audit Committee) and Martin Gouldstone (Chief Executive Officer). Announcement • May 23
Freenome Holdings, Inc. acquired Oncimmune Limited and Oncimmune Europe GmbH from Oncimmune Holdings plc (AIM:ONC) for £13 million. Freenome Holdings, Inc. acquired Oncimmune Limited and Oncimmune Europe GmbH from Oncimmune Holdings plc (AIM:ONC) for £13 million on May 22, 2023. The consideration of £13 million is in cash, structured as consideration for equity and debt repayment, of which £1.3 million in cash is being held in escrow for 12 months in the event of any claim by Freenome against the customary warranties and indemnity given to Freenome in the sale and purchase agreement. Separately, Oncimmune Germany GmbH, Oncimmune Holdings' wholly-owned pharma services business trading as ImmunoINSIGHTS, and Freenome have also signed a long-term Master Services Agreement. Oncimmune Holdings has an existing debt facility with IPF Management SA with an outstanding principal balance of €11.6 million prior to this transaction. In connection with the transaction, Oncimmune has agreed to repay €7.2 million (being €5.6 million of principal and €1.6 million of interest) of the outstanding IPF Facility. The Board of Oncimmune Holdings considers that the repayment of debt under the IPF Facility, the repayment profile of the new IPF Facility, together with the net proceeds from the transaction, removes any material uncertainty as regards going concern. Phil Davies, Harry Gooden, George Tzimas and James Fischer of Nplus1 Singer Advisory LLP acted as the financial advisor to Oncimmune Holdings plc (AIM:ONC).Freenome Holdings, Inc. completed the acquisition of Oncimmune Limited and Oncimmune Europe GmbH from Oncimmune Holdings plc (AIM:ONC) for £13 million on May 22, 2023. Announcement • Feb 04
Oncimmune Holdings plc, Annual General Meeting, Feb 27, 2023 Oncimmune Holdings plc, Annual General Meeting, Feb 27, 2023, at 10:00 Coordinated Universal Time. Location: offices of Pinsent,Masons LLP, 30 Crown Place, Earl Street, London, EC2A 4ES London United Kingdom Announcement • Jan 13
Oncimmune Holdings plc Announces Appointment of John Goold as Non-Executive Director Oncimmune Holdings plc announced that further to the announcement made on 7 December 2022, John Goold has been appointed to the Board of the Company as Non-Executive Director with immediate effect, following the successful completion of customary due diligence checks by the Company's Nominated Adviser. Additional Information in respect of the AIM Rules: The following information regarding the appointment of John Howard Goold, aged 51, is disclosed under Schedule 2(g) of the AIM Rules for Companies. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Senior Independent Non-Executive Director Annalisa Jenkins was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 22
Full year 2022 earnings released: UK£0.14 loss per share (vs UK£0.072 loss in FY 2021) Full year 2022 results: UK£0.14 loss per share (further deteriorated from UK£0.072 loss in FY 2021). Revenue: UK£3.86m (up 3.7% from FY 2021). Net loss: UK£9.51m (loss widened 106% from FY 2021). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Price Target Changed • Apr 27
Price target increased to UK£2.22 Up from UK£1.68, the current price target is provided by 1 analyst. New target price is 89% above last closing price of UK£1.18. Stock is down 50% over the past year. The company posted a net loss per share of UK£0.072 last year. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Senior Independent Non-Executive Director Annalisa Jenkins was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Mar 03
First half 2022 earnings: EPS in line with expectations, revenues disappoint First half 2022 results: UK£0.07 loss per share (down from UK£0.041 loss in 1H 2021). Revenue: UK£1.43m (down 22% from 1H 2021). Net loss: UK£4.86m (loss widened 87% from 1H 2021). Revenue missed analyst estimates by 34%. Over the next year, revenue is forecast to grow 316%, compared to a 20% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 03
Full year 2021 earnings released: UK£0.072 loss per share (vs UK£0.13 loss in FY 2020) The company reported a solid full year result with reduced losses, improved revenues and improved control over expenses. Full year 2021 results: Revenue: UK£3.72m (up UK£3.21m from FY 2020). Net loss: UK£4.63m (loss narrowed 45% from FY 2020). Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 19
New 90-day high: UK£1.94 The company is up 16% from its price of UK£1.68 on 20 November 2020. The British market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Biotechs industry, which is up 32% over the same period. Reported Earnings • Feb 18
First half 2021 earnings released: UK£0.041 loss per share (vs UK£0.083 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: UK£1.83m (up 493% from 1H 2020). Net loss: UK£2.60m (loss narrowed 51% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Jan 11
New 90-day high: UK£1.90 The company is up 1.0% from its price of UK£1.88 on 13 October 2020. The British market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Biotechs industry, which is up 7.0% over the same period. Analyst Estimate Surprise Post Earnings • Oct 30
Annual earnings released: Earnings beat expectations, revenue disappoints Annual revenue missed analyst estimates by 54% at UK£509.0k. Earnings per share (EPS) exceeded analyst estimates by 1.8% at -UK£0.13. Revenue is forecast to grow 1,072% over the next year, compared to a 43% growth forecast for the Biotechs industry in the United Kingdom. Reported Earnings • Oct 30
Full year earnings released - UK£0.13 loss per share Over the last 12 months the company has reported total losses of UK£8.46m, with losses widening by 5.4% from the prior year. Is New 90 Day High Low • Oct 08
New 90-day high: UK£1.73 The company is up 38% from its price of UK£1.25 on 10 July 2020. The British market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. 
