4basebio AG (4BSB.D. Market Cap ÂŁ90m, â‚¬2.03, 4.0% of JIC Portfolio)
On 29thÂ July, I concluded that I wasÂ contemplating whether my â€śHigh Riskâ€ť rating should be reduced to Medium!
I have today, reduced it to Medium Risk from High, which means it is now Medium Risk/High Return. For me, that points to a 4.0% target weighting.
I think it justifies Medium Risk as the current share price of â‚¬2.03 compares to a book value of â‚¬2.20 of which â‚¬2.06 is cash.
Half-year results are tomorrow. Hopefully buying today will not look stupid when the German market opens tomorrow morning. However, given that it announced on 29thÂ July that Spart AG intended to make a bid at â‚¬2 per share, I think it is well underpinned at this level.
I also hope, that as it is based in Cambridge and Madrid, that it will seek a UK listing at some stage.
I like that 4basebio has a â€śpicks and shovelsâ€ť approach. It is providing the tools to those who are taking the riskier route of drug discovery, where success is lucrative but alas, rare.
I paid â‚¬2.03 or 182.45p per share for 5,480 shares
The investor website isÂ HERE
…and the product website isÂ HERE