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For me anyway the shine has gone off Faron.
We will be sitting here until the bridging loan is arranged ( 5m) - then no doubt interested parties will be keen to get involved in the next raise at the best price possible ( will it be the full 35m , or half and half ) . I'm maybe expecting one big raise - but with major input from interested big investors , along with LLS maybe . But we are already at basement level price .
No doubt the Bexmab update will be a cracker - so then its down to how much they can keep the price down for the fundraise vs how many want to get in . Like I said before - if it goes a bit lower , no great shakes unless you need to sell . Try to ignore the SP - and be glad that we are actually going to make progress - towards a much brighter future .
A lot of love has left Faron unfortunately. Very disappointing seeing us at these levels after so many positive updates
Reminds me of listening to Rick Rule , that precious metals windbag , who I like anyway , talking about risk and how he now invests in safer companies etc , but was reminded by his wife that the reason he is where is he is today , is because he hit it big investing in very risky companies . As many millionaires will tell you , you only have to strike lucky once ( I'll tell you that when I get there )
Isn’t there an analyst call at the moment? Does anyone have the link?
*5% (not 0.05)
(This is what happens after writing a post immediately after working on excel)
Do I trust a random person on the internet? No.
Do I use the input of random people on the internet to make investment decisions, no.
So what does it matter if people trust them or not?
Chat related to the stock > chat about people on a stock message board.
FARN is probably worth a punt at this sort of level, maybe 0.05% of your port if you're feeling frisky.
But as someone who's played Pharma for a long time profitably, don't load all your eggs into one basket. That's what casinos are for.
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U lot trust this Sax fella?
Someone has loaded up today
Great we had this RNS! Now it’s up to the clinical succe and the business development and potential partnering or M&A news.
Recent events are just a hicup... Timo hasn't lost faith in Faron. Anyone who bought more on the dip have done themselves a favor.
Pharma shares are always the long game.
They need 35 million.. now we know officially what every knew unofficially that to prove up bex will cost..
I'm in for the long game and bought more on the drop.
"next BEXMAB phase I read out in mid-March with special focus on durability of bexmarilimab efficacy on HMA-failed MDS patients known to have very short life expectancy post HMA failure"
Looks like the market was just pleased to have an update but for me having to raise £30m at such a low share price is really damaging. Why not raise £10m now and £20m later?
Blue bloodbath???
Bloodbath.
Sounds alright to me .
Short term loan ( over 600k via Timo ) - gets the shackles off - so that Faron can get on with business .
Then - they can organise the fundraise - which will get P2 finished and packaged with FDA recommendations for a P3 .
35 m required .
Pretty much as expected - to see them through 2024
Unless a non dilutive partnering deal is done .
Good to see that there is support - Timo won't let this ship hit the rocks until he sees a profit thats for sure .
Nice of Markku to make a token gesture too . This is his baby .
So roll on Bexmab news , and AGM .
There could have been a lot worse news - this means we are going forwards .
What’s going on here?
For what it’s worth here are a few more thoughts on the current situation. Regards options going forward , it may be that a co development partner comes in , or some kind of rights issue, fund raise etc allows business to go forward- but my personal opinion ( as stated in an earlier post ) is that phase 111 data needs to be seen before big pharma attempts a takeover. The reason I say this is the results so far are encouraging,( but with small numbers ), certainly not stratospheric, no matter what Marku says. I also get the impression that there is still work to be done determining what the best combination therapy might be and which cancer type is best suited to treatment with Bex. This does not necessarily mean a completed Phase 111 trial but at least some interim data with a larger cohort. This of course is just my view , but what I think is much more certain is that a buyout will not happen any time soon at the current SP- Faron cannot let this happen unless they are on the rocks. If you go back over the director share deals then there is the standout deal where Jonathan Knowles bought 63 000 shares at £ 7.25 in 2017. There is no way he has averaged down over the years to anything like this, so takes a big hit if a takeover comes in at 2-3 times current SP which would be a good result in most people’s estimation. Then again how much clout does he have ? – he is the head of the SAB , and formerly on the board of directors but amount in question might be small beer to him . Who knows? Other insiders take a sizable hit as well, until the SP gets back to £ 5-6 .
What I would like to know,- is the current status – blocked bank account- a sort of legal position which is automatically set in motion due to some regulatory rules, and the situation is usually resolved amicably and everything carries on as normal , or is this really bad news with a very uncertain outlook? Any thoughts ? I am in here to the end, and there will be answers one day !
Yes Sax, so far they’ve done marvelous job!
So if they announce a rights issue I am pretty sure biggest owners do have something to believe in it. With the same breath I could guess them being able to convince anybody else? If that’s enough to RNS already, we’ll see hopefully soon.
Maybe what needs to be appreciated is that Faron are still at the cutting edge of an unknown science . Clever-1 up until now has no track record to speak of . Faron have been the only ones to identify it , and work on their thesis , and to prove that up . Matins gave them a huge amount of information . But at every stage they were learning more - and actually giving themselves more headaches ( remember soluble Clever 1 ? )
Possibly they were hoping to strike it lucky on one cohort in MATINS as a monotherapy on solid tumours , but despite good data , nothing was big enough to force a BPs hand .
What it did help do was give them biomarkers , and proof of the IFNy connection etc .
Bexmab data then gave them a huge boost again in proving that Clever-1 was key . Given a clear shot at the right patients - it is proving beyond any doubt that it is clinically effective .
But we have to remember again that if Faron had sold out/partnered 1-2 yrs ago , it would have been at a paltry amount compared to what it is becoming worth now . This is where the patience comes in . That's why we have seen a build up in management and infrastructure . The high profile BOD appointments .
I follow plenty of very promising looking companies , and you could say the same thing about many of them - surely if it was this good , someone would have bought them out or made an offer by now ?
I'm coming to the realisation ( finally ) that the % of companies bought out for a dream price tag is very much the minority . More common seems to be the situation where they run out of money and perish , to be picked up for peanuts , or even just ignored despite having huge promise ( don't disrupt the market reasons ) .
So that's where we are at the moment .
Until Faron start generating cash - and standing on their own two feet - they were always going to be open to attack ( and I think that's what this was ) .
However- they are very close to getting Bex to market in some shape or form , and investors will hopefully see how once that happens , the future pipelines and developments will become hugely derisked financially .
As for sentiment - I guess that will have to wait until March 13th or the next RNS . Market is very fickle in the short term , but all will be forgotten if the SP doubles no doubt .
Jmax, I'm beginning to feel the same way. Faron are after being very successful In raising funds through their own very close Investors. All be It at a much reduced SP. So you have to ask Why the same hasn't occurred this time?. As you say. I find It hard to believe that with the great reports on Bex why hasn't Faron been bought out?. What sentiment Is there In the Co after that latest event.
Btw. would it mean you could get one share with 1,5£ against 10 shares to fill your obligation in financing 10m. With the need of 25m it could mean three shares each with 1,5£ a share and one share for free?
If the product had the potential that some think it has, would this situation have arisen, would a potential partner have stepped in by now ?
Also, how many other companies are trying to develop similar products ? Farn is a wait and see for now.