Integumen Plc (SKIN) Bagged Three Contracts Worth £290,000 In Total

  • May 30, 2019 BST
  • Team Kalkine
Integumen Plc (SKIN) Bagged Three Contracts Worth £290,000 In Total

Integumen Plc is a biotechnology company with operations in Britain and Ireland. The group has a  vertically integrated business model, and their core skin and human testing technology have created on a clinical based embedded system. The group owns a range of skin care products and cannabinoid oils, commonly known as CBD. The group got incorporated in the year 2016 and headquartered in Dublin, Ireland.

Recently (on May 28, 2019), the healthcare company bagged three orders worth £290,000 in total. The company received orders from one leading drug store chain, one from consumer goods and one from Daye.  However, individual contracts were ranging from £35,000 to £210,000. In the company filings, the group mentioned that revenue from all these orders would fall in the current financial year.

The group also mentioned in the company filling that they are enhancing their Labskin laboratory capacity by 50% to adjust new orders from their growing customer base.

In a statement filed with the London Stock Exchange, the group stated that they will continue to make robust progress by moving up the value chain and will enter into comprehensive agreements for Labskin AI services.

Gerard Brandon, CEO at Integumen Plc, said that these big contracts for our Labskin AI reflect demand exists from drug stores, household chemical and beauty product manufacturer. He also added that contracts received from Daye, confirms our expertise in the Cannabidiol testing and places Labskin at the vanguard of CBD regulatory compliance testing for those who want to develop and distribute Cannabidiol Oil (CBD) infused consumer goods.

Founder and President of Daye, Valentina Milanova, said that "It was a pleasure for us to begin an association with the Labskin to dig into the potential impact of the Cannabidiol Oil (CBD) on “You Day” hygiene product for female.”

Stock Performance

Daily Price Chart (as on May 30, 2019), before the market close. (Source: Thomson Reuters)

At the time of writing (as on May 30, 2019, at 10:34 AM GMT), shares of SKIN were quoting at GBX 2.11 and declined marginally against the previous day closing price level. During the past one-year, shares have touched a 52w high of GBX 2.62 and a 52w low of GBX 0.35. During the past year, shares have delivered a price return of around 148%, on a year-to-date basis, the stock was up by around 328%, and in the past one month, its shares have delivered a price return of approximately 41%, which indicates the stock is in uptrend cycle.

From the simple moving average standpoint (SMA), shares of the SKIN were trading considerably above the 200-days, 60-days and 30-days simple moving average price, which a bullish technical measure for a stock and has potential to move up from the current price level.

From the volume standpoint, 5-days average volume traded on the London Stock Exchange was around 18% above the 30-days average volume traded on the LSE.

The outstanding market capitalisation of the company stood at around £20.25 mn, which ranks it among the small-cap companies listed on the London Stock Exchange.

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