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Results: ITX

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EPIC ITX
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Itaconix – discounted equity raise result, argues “optimism” but what happened to the previous optimism?...

Describing itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products”, Itaconix (ITX) states that it “is pleased to announce that it has received valid acceptances from qualifying shareholders in respect of 4,513,420 open offer shares” and that it “approach the future with more commercial progress, more resources, more potential, and more optimism than ever before”. So what of a share price down from approaching 6p last month to currently little above 5p?
EPIC ITX
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Itaconix – I having previously cautioned ‘attempted ramptastic’, now an equity raise (discounted, natch!)

Previously writing on company which describes itself as “a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products” Itaconix (ITX), in October I cautioned “pleased to announce” distribution program, attempted ramptastic?. And now, quelle surprise, a “Placing, Subscription and Open Offer”.

EPIC ITX
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Itaconix – “pleased to announce” distribution program, attempted ramptastic?

Itaconix (ITX), describing itself as “a leading innovator in plant-based specialty polymers used to decarbonise everyday consumer products”, states it is pleased to announce a distribution program with the Brenntag North America business of “a global market leader in chemical and ingredients distribution”, Brenntag SE. So what of a current share price response to 4.75p, more than 2% lower?

EPIC ITX
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Itaconix – “revenues substantially ahead”. Er, how’s the cash burn?

Describing itself as “a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products”, Itaconix (ITX) has issued an AGM statement emphasising “revenues substantially ahead of any prior half year. Demand has remained strong right into this week”. So what of a current 5.75p share price, circa £26 million market cap – approaching 30% ahead on this latest announcement from the company?

EPIC ITX
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Itaconix – 2021 results, “well positioned for growth in the coming years”. Really?...

Previously writing on company which describes itself as “a leading innovator in plant-based specialty polymers used as essential ingredients in everyday consumer products”, Itaconix (ITX) in April with the shares above 5p I concluded ‘with, I suggest, further bailout funding still likely to be required, still avoid / sell’. So what of today-announced full-year results?...

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