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Read on to see an article posted on the OMG blog on 21 September 2015:

COG Could go Mad

Since the £1.25m placing in April at a discounted 35p, Cambridge Cognition Holdings (LSE:COG)  has delivered on value enhancing milestones. The Interims to June are to be reported on Thursday the 22nd of September and may be the last losses as the company should now be operating profitably.

There are three business units; Clinical, Academic Software Services  and Tech Sales, in this developer and supplier of computerized tests for the detection and monitoring for neurological disorders for the assessment of brain health to improve the drug development process. Mental health conditions are among the leading causes of disability worldwide. With more than 450 million people living with mental illnesses, the cost of treatment and care to global economies will double by 2030 to over $6 trillion (Source: World Health Organization).

The clinical division announced that it has secured its largest contract to date for the CANTAB Connect Research® product, for £0.5m which is marketed for use in research projects by academic and small biotechnology research groups.

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The Healthcare Technology sales, however have been disappointing as an older technology was replaced by a cloud-based Connect range of products allowing customers to use iPads. Prospects have improved by the recent results from a new technology feasibility study. The results demonstrate for the first time that consumer grade wearables such as the Apple Watch® and Microsoft Band can be used to accurately measure clinically relevant cognitive performance in everyday life using the Company’s new Cognition Kit software. The new study shows for the first time that wearable consumer devices can be used clinically to measure cognitive performance accurately when programmed with the Cognition Kit software. Additionally COG have the sole rights to market the MANUS Parkinson’s Pen, a sensor pen for diagnosis and monitoring of neuromotor impairments, in academic research, pharmaceutical clinical trials and occupational health markets.

Prospects for both the new product portfolio and the new US business development team should see continued growth in revenues, while making significant commercial and technological advances; particularly in the healthcare technologies unit. Turnover for the year to December is forecast to increase around 30% to £7.10m and  giving a profit of £150,000, which is a strong turnaround from a loss of £782,000.

Financials

The net cash including the fund rising was around £2m. The shareholder base has a six EIS/VCT funds  amounting to around 60% of the shares in issue.

Investment Strategy

The market opportunity remains compelling, which the interims should underline. So despite the rise in the share price they are worth tucking away.

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Cambridge Cognition Holdings (LSE: COG)

  1. 5p (66p/69p)

Mkt Cap: £13.8m

Next Results:  Interims Thursday 22nd

Last OMG! Price 85p Watch

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