New Risk • Dec 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£1.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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£1.4m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m (UK£6.0k revenue, or US$8.0k). Market cap is less than US$10m (UK£4.14m market cap, or US$5.53m). Minor Risk Shareholders have been diluted in the past year (18% increase in shares outstanding). Announcement • Oct 14
Incanthera plc, Annual General Meeting, Nov 07, 2025 Incanthera plc, Annual General Meeting, Nov 07, 2025. Location: the offices of gateley plc, 1 paternoster square, ec4m 7dx, london United Kingdom Announcement • Jul 02
Incanthera plc has completed a Follow-on Equity Offering in the amount of £0.508 million. Incanthera plc has completed a Follow-on Equity Offering in the amount of £0.508 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 14,514,286
Price\Range: £0.035
Transaction Features: Subsequent Direct Listing New Risk • Apr 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£7.31m (US$9.48m) 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 Less than 1 year of cash runway based on free cash flow trend (-UK£2.8m free cash flow). Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£7.31m market cap, or US$9.48m). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Dec 19
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£2.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. 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£2.8m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (UK£6.14m market cap, or US$7.75m). Minor Risk Shareholders have been diluted in the past year (27% increase in shares outstanding). New Risk • Nov 26
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: UK£6.43m (US$8.06m) 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 (20% average weekly change). Negative equity (-UK£565k). Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£6.43m market cap, or US$8.06m). New Risk • Oct 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 52% 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 Negative equity (-UK£565k). Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (UK£26.5m market cap, or US$34.8m). Announcement • Sep 26
Incanthera plc, Annual General Meeting, Oct 17, 2024 Incanthera plc, Annual General Meeting, Oct 17, 2024. Location: the offices of gateley plc, 1 paternoster square, ec4m 7dx, london United Kingdom New Risk • Jul 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. 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 Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-UK£667k). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (UK£28.3m market cap, or US$36.3m). Announcement • Dec 20
Incanthera plc has completed a Follow-on Equity Offering in the amount of £0.8 million. Incanthera plc has completed a Follow-on Equity Offering in the amount of £0.8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 11,428,571
Price\Range: £0.07
Transaction Features: Subsequent Direct Listing New Risk • Dec 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 20% This is considered a minor 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 Negative equity (-UK£214k). Revenue is less than US$1m. Market cap is less than US$10m (UK£5.51m market cap, or US$7.03m). Minor Risk Shareholders have been diluted in the past year (20% increase in shares outstanding). New Risk • Oct 05
New major risk - Negative shareholders equity The company has negative equity. Total equity: -UK£214k 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£453k free cash flow). Negative equity (-UK£214k). Revenue is less than US$1m. Market cap is less than US$10m (UK£5.01m market cap, or US$6.09m). Minor Risk Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Announcement • Oct 05
Incanthera plc, Annual General Meeting, Nov 08, 2023 Incanthera plc, Annual General Meeting, Nov 08, 2023, at 12:00 Coordinated Universal Time. Location: Gateley Plc, Ship Canal House, 98 King Street Mancehster United Kingdom New Risk • Jun 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 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 Less than 1 year of cash runway based on free cash flow trend (-UK£599k free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (UK£5.18m market cap, or US$6.52m). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Shareholders have been diluted in the past year (6.8% increase in shares outstanding). Announcement • Sep 02
Incanthera plc, Annual General Meeting, Sep 27, 2022 Incanthera plc, Annual General Meeting, Sep 27, 2022, at 10:00 Coordinated Universal Time. Location: Ship Canal House, 98 King Street Manchester, M2 4WU Manchester United Kingdom Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Senior Independent Director Alan Warrander was the last independent director to join the board, commencing their role in 2012. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 