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Seems like this is all being dragged out. Convertible loan, then bridging loan then fund raise.
Why not just do a straight up fundraise and get it done with?
Anyone notice that they added in ' and media ' from the previous RNS .
Anything bad and you wouldn't really want the media looking in would you .
Now in the Event Diary on Faron website :
A virtual briefing and Q&A session for investors, analysts and media will be hosted by Dr. Markku Jalkanen, Chief Executive Officer, and James O’B rien, Chief Financial Officer, today, March 13, 2024, at 12:00 PM (GMT) / 2:00 PM (EET).
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Luck , Yes 100%.
Yes Drac, the hype is gone if there was anything bigger than the forum here? For sure there is a professional audience much more pragmatic and knowledgeable than us, just to remind that these forum’s here are not the only truth. No problem but in business matters it takes a while to come out from the “Death Valley”. This is a natural and a dangerous phase after great expectations when still not knowing how it turns out. Financing plays the most critical role in this phase. But at the end it’s the clinical success that matters at first. So what can you say to investors now? We are far from the power point arrays of the expression of various CDs now showing patients healing in various clinical cohorts. We know the market potentials. But I t’s only the approval or any other official indication towards approvals that can bring us further.
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!