The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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They are taking salaries just reduced them to try hold back the raise till this new tax year when AGM takes place.
It just defers payment and they will probably make it up by giving themselves loads of options to help reduce the damage of dilution.
The problem is selling isn’t it as now you get locked for dilution and it will be significantly higher than before.
At 0.18p. Thats 277 million shares to raise £500,000 take of costs of placing etc.
Problem is now it will probably have to incur part loan notes part raise part warrants to existing shareholders etc
A messy affair.
But needs must.
Meanwhile NXP004 has had its Japanese patent granted.
https://patentscope.wipo.int/search/en/detail.jsf?docId=JP407637337&_fid=US410558972
Since there is some chat around 'Orphan drug designation' its worth a look at what this entails.
Firstly, it is intended for rare conditions and provides protection from competition once on the market (ten years market exclusivity). So it a good thing in anyones opinion.
Secondly, its to application and designation is free and takes a maximum of 90 days from submittal.
Thirdly, companies applying for designated orphan medicines pay reduced fees for regulatory activities. This includes reduced fees for protocol assistance, marketing-authorisation applications, inspections before authorisation, applications for changes to marketing authorisations made after approval, and reduced annual fees.
We know that the board aren't drawing a salary at the moment and this process is free so not worried there.
If anything any confirmation that they have applied for Orphan status is very good news as it means the IP is secured and they will likely have a product that is protected.
That all sounds a bit AVCTish NFTs, don’t you think, which you suggested we buy at £1.35 and now sits at 75p.
Seems to me you’re determined to convince yourself you made the right move selling out here and cutting your investing/trading pot in half again by jumping to to AVACTA too early.
You’re a strange chap, spending so much time posting on here, when you appear to bigger wounds to nurse elsewhere. Very odd behaviour.
You’re experience doesn’t appear conducive to dishing out advice, if you don’t mind me saying 😂
So as mentioned they had less money than most suspected on last accounts as I did.
They got pennies from NXP001 as I suspected.
NXP004 again not worth much but makes people think it’s not a one trick pony to feed the market with bluff!!!
AstraZeneca as mentioned by someone last night is no stranger to NFX and they haven’t paid millions to get the product that essentially makes their own powder slightly less needed. Thats what NXP004 managed lol
NXP002 to be of interest to market needs Orphan status or the hard sell gets even harder. Takes 3 months and no guarantee for EU granting for that topographical area. I’d expect even more work for US Asia etc!! So loads of work and time costs money. Legals cost money. Salaries travel cost money. Listing costs money. Few patents securities expected also soon but these cost money.
So expect the bowl to be presented as advised last year but they managed a few K for NXP001 and research back pay has let them push it further but that’s risky gamble letting the coffers empty. Nothing new here it’s been running like that since the start.
Ultimately though now it’s a one chance to try get this higher up the food chain or it’s bargain basement for BP’s to pick up if they cannot manage it themselves.
Nobody in a rush obviously to come grab NXP002 even at this pitiful price.
If it was so good and majors such as AZ see that then simply why haven’t they said hey we see you struggling and massively cheap for an IPF combined therapy drug here is 10mil and we will get this going????
Why?
It’s been available now for years and they know exactly what they are looking at!
What is it they cannot see that NFX has known for the last 6 years?? And telling them??
Glad you care about us all NFTs, just remind me.... is this the same placing you said would happen three times before and never materialised?
Thanks NFT how's avct doing?
Ha ha ha where’s that door lol 😝 as you all now realise what I have been warning you of for many months. No deal and cash required plus further work.
Money money money
All I read from that chat is money will be needed. Orphan status will take months and then months more to even get a negotiated deal etc. minimum a year before we see any potential deal and that’s only if they get orphan status otherwise it’s going to be even harder.
Big risks and little wonga. Better vote for that raise imo !!!!
You don't like my posts? Use a filter...or take your own advice
Do you want some attention ForFX...maybe just relax and move on
I know Soup is held in high regard by many on here but I'm not sure that repeating his now standard 'out of office' response to anything that NFTs posts makes much sense. I mean if you look at the 3 year chart, we're just not doing that great ourselves!
Probably best to leave that sort of stuff to his more banal, unoriginal trader followers (like Whimax) 🤣
Thanks nft hows avacta doing?
It would be if a) He was CEO but he isn’t?
b) If they were close to signing anything tangible, but they are no way close to that.
C) Probably ok to holiday as this is only a virtual business and finance for the raise is probably ready subject to VWAP upon AGM period!
You’re an idiot FFx. What a ludicrous statement to make!
Seriously man, wise up ffs.
"Yeah, cos obviously the only way to hold discussions these days is face to face, and for 24hrs a day until a deal is signed"
Pretty reckless to partake in dangerous sports during such a crucial period of discussion though, don't you think Whimax? You'd be mighty concerned if he'd wound up in a coma a result, wouldn't you?
No, of course you wouldn't, because your just a trader who's not really invested 🙄
Make sure you have a few nuggets for the begging bowl there Redshoes!! CU there;)
I have it pencilled in, so hope to be there all things permitting
Soup,
I am planning to attend the AGM, if only to ask a number of questions and have my say.
Are you attending or any other shareholder?
GLA.
Don’t worry AJ it won’t get you anything that’s not in the public domain already
'Dan has rescheduled his telegram chat to 5pm today'
What chat is that? I do not have a telegram account but willing to join if it gets me some news.
GLA.
Another possible way to consider the situation is:
That family skiing holidays (with wife and three kids) are usually booked some time in advance.
That a pre-arranged holiday can be worked into whatever schedule Dan had for BD activities/ discussions.
I fail to see that it shows anything about the status of discussions.
It appears the accident occurred on friday and Dan was out of hospital by Sunday and flew home yesterday, so hopefully the accident is not too bad and Dan is fairly robust.
Dan has rescheduled his telegram chat to 5pm today - so he is off and running again.
Ban family holidays! Sleep is for wimps!
Yeah, cos obviously the only way to hold discussions these days is face to face, and for 24hrs a day until a deal is signed 😂