Insights

Why is the Cyclopharm (ASX:CYC) share price down today?

The Cyclopharm Limited (ASX: CYC) share price dropped today after the company released its 2021 AGM Presentation.
The post Why is the Cyclopharm (ASX:CYC) share price down today? appeared first on The Motley Fool Australia. –

woman in lab coat conducting testing representing mesoblast share price

The Cyclopharm Limited (ASX: CYC) share price is dipping today after the company released its 2021 AGM Presentation.

Cyclopharm shares are down 1% to $2.82 at the time of writing, after gaining more than 10% over the past week.

Cyclopharm Ltd is an Australia-based company that engages in the manufacture and sale of medical equipment and radiopharmaceuticals, including associated research and development.

Highlights from Cyclopharm’s market update

Cyclopharm reported significant metrics in its AGM, noting record group sales revenue in 2020 of $14.7 million, up 4.2% on 2019. It recorded $2.2 million of new third‐party distribution revenue in its Technegas distribution network.

Overall, Technegas sales rebounded by 51.4% in the second half of 2020, after a pandemic-impacted first half. The company reported a $5.8 million net loss before tax. The company’s February 2021 capital raising placement was oversubscribed, raising $33 million in total.

Cyclopharm AGM Chair’s address

Cyclopharm Chair, David Heaney, expanded on the company’s rebound from COVID-19.

2020 was a pivotal year for Cyclopharm. Despite the challenges we faced from a global coronavirus pandemic, we have expanded our global footprint to  include sales into over 60 countries, and proudly, our Technegas products have now been used in over 4.3 million patient procedures globally. We also commenced operations as a distributor of third party products in Europe, leveraging our existing distribution capabilities.

Together with our existing Technegas revenues, this new income stream enabled Cyclopharm to report record revenues in 2020 of $14.7 million. Our strong underlying sales performance supported the Board’s decision to maintain our full year dividend at 1.0 cent per share.

Background on Cyclopharm’s business model

Cyclopharm operates through two segments. Its Technegas segment involves supplying diagnostic equipment and consumables used by physicians in the detection of pulmonary embolism. Meanwhile, its Molecular Imaging segment produces radiopharmaceuticals to be used by physicians in the detection of cancer, neurological disorders, and cardiac disease. The company generates maximum revenue from the Technegas segment.

Cyclopharm share price snapshot

The Cyclopharm share price has had a good run recently, up 10% in the past week, 11% the past month, 14% in 2021 so far and 146% over the past 12 months. 

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Lucas Radbourne-Pugh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why is the Cyclopharm (ASX:CYC) share price down today? appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!