The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Jayne, Thanks - I’ll do the same with my broker.
I agree with Candid, this move is appropriate for the type of company Amryt will soon be, and the timing is spot on as it allows those who for whatever reasons don't want to hold foreign shares to sell with nice gains post-approval.
I do not see this as anything to worry about, when a company is growing then a full migration to a proper listing (such as Nasdaq) is a good move. With potential FDA approval this week I would not be selling and have added more. The AIM delisting is planned in January so plenty of time to sell for those who don’t want to hold the shares in Nasdaq.
Propinquity, I've emailed my broker to request my shares be deposited, quoting from the RNS to explain why. I couldn't find the forms that are supposed to accompany the circular, but presume our brokers can sort it from here. Fingers-crossed!
Well, an unexpected announcement; any idea on how we mere investment mortals proceed with the delisting - would we have to inform our brokers, like HL, on our decision, or will they automatically be converted? No idea myself - I have never before encountered a delisting of a dual-listed share from one exchange in favour of another one.
Jayne,I'm trying to remain positive here.I have duel Irish/US citizenship so it not really an issue for me.
No this management haven't done a very good job for shareholders since 2016(even though the market cap has gone from 50 mil to where we are now).
I agree totally, you've echoed my own thoughts. My own limited experience in holding overseas stocks has been difficult due to the exchange rate/tax, so not overly pleased by the timing. With no liquidity at all and looking at a loss if I sell, I'm resigned to going with the flow. Long-term I think it'll come good, but Amryt management haven't covered themselves in glory, presenting this to holders after the fact.
This is the third time I've agreed with you recently JIm. I may have to go and have a lie-down in a dark room! ;-)
Interesting timing for this announcement, within a few days of the PDUFA. Maybe they just want to ensure that the AIM delisting decision is out there now so that it won't be connected with whatever the FDA decides.
Have to say this is annoying,they should have waited until the FDA decision(good or bad).
This stock just doesn't have the liquidity
Well Jayne here's my 2 cents for what it worth.
Over the long term is shouldn't matter but its a hassle owning shares in foreign currencies(mainly because of being ripped off by trading platforms on foreign exchange side)and lots just won't want to deal with it.
Jim, I'm interested to hear your thoughts on the move, good or bad?
Jim, Bermuda & Propinquity, thank you for the positive feedback, it means a lot. Thanks too for the link to the stem cell research Bermuda, which I hadn't heard about. Although treatments like this and AP103 are at a very early stage of development, there's at least hope of alleviation ahead for sufferers.
Interesting news today. It's probably a good decision for the company, not so sure whether it's a good deal for us as holders, but hoping it means it's looking good for Filsuvez. Good luck all.
I hope this doesn't generate a disconnect between the 2 exchanges up to Jan 11th.
Jayne, Thank you for your heartfelt, yet objective, view on your experience as a family-carer to a sufferer - it reveals the human aspect behind the corporate-profit motive; and, of course, how much treatments like Filsuvez mean to those who see at first-hand the distress it inflicts - hopefully not long before it reaches the market to diminish some of the pain, and make a difference to sufferers’ lives.
Some interesting posts here, thanks to all and Jayne, thanks for the insight into the issues facing those living with EB.
Worth having a read of an article published in The Times today which features 9 year old EB sufferer, Gabrielius who is taking part in a clinical trial at Great Ormond Street. The treatment involves infusions of stem cells taken from umbilical cord tissue and the hope is that these infusions can reduce pain and inflammation for a period. Although Filsuvez will hopefully become the first ever treatment approved for EB, Amryt have said that they see it sitting alongside other therapies as and when they come along. You can see how that would work in this case and let's hope that children like Gabrielius won't have long to wait before these new therapies make a real difference to everyday life.
https://www.thetimes.co.uk/article/football-dream-of-boy-with-rare-butterfly-skin-disease-dwnw0pkj2?utm_medium=Social&utm_source=Twitter#Echobox=1637252115
I'll return the compliment (:
Candid & Jim, sorry for the late response and I very much hope you're right on the FDA decision Candid. A you said it's a treatment not a cure, but the effect of any beneficial treatment can make a lot of difference. As well as being invested here, I have direct experience of Dystrophic EB as family-carer to a sufferer for decades. We were also involved in the formation of the main charity, so I've done a lot of research and know/n other sufferers personally.
It's from that perspective I know anything beneficial to prevent infection spread is important. Pain for sufferers is constant with degrees of severity, however I emphasise the infection risk in particular because alongside the additional pain caused, it also ups the mortality risk over time. As a side-note the only pain-management available for severe EB sufferers is via drugs like Fentanyl which bring along their own terrible problems and mortality risk (as detailed in the US recently).
JimBeann, there are some things we can definitely agree on, you'll be surprised to hear I even upticked your reply on OO to Elrico's bizarre Greta rant. :-) I agree with Mark Summeray, there would be benefit in dressings being changed less frequently (it's often a traumatic and painful procedure), though because of the infection risk, they'd still need changing daily. It's terrible when they're kids, but the suffering can be even worse for those who do reach adulthood. :-(
I'm an LTH here, but as well as a good investment case, it's also my way of supporting Amryt in bringing treatments to a cause that's very special to me. GLALTH.
Didn’t mean to rock the boat regarding efficacy. It’s a treatment to help mitigate the symptoms rather than a cure, so it can get misinterpreted. However the trial proved that patients did benefit from faster wound closure and that in itself is a significant help.
My view is that approval will be achieved from both FDA and EMA. Remember that an EMA approval already exists for partial thickness wounds.
As it’s on a priority review I think this will come in the coming days, there’s a chance the date can get pushed out but I think if that was the case we would have been notified already about a date extension.
https://www.biopharmcatalyst.com/calendars/pdufa-calendar
I wont disagree with you Jane we're on on the same page here.
I did listen to the Conference Call prior to FDA submission and Mark Summeray did emphasise that pain management and the fact that dressings had to be changed less frequently was very beneficial to the patients. (especially as we're dealing with poor kids here)
So sad:(
It is good from the trials. Statistically significant increase in speed of wound healing in EB between Filsuvez (formerly Oleogel) and placebo: https://epidermolysisbullosanews.com/2020/09/23/amryt-plans-regulatory-submissions-for-filsuvez-following-positive-phase-3-data/
It's not so much about pain relief. The main importance of Filsuvez to my mind is that quicker wound healing will help reduce the risk of infection. Those with Dystrophic EB in particular often suffer terrible skin infections because wounds from the blisters can remain open for weeks and become antibiotic resistant over time.
where is the efficacy talk coming from, I thought it was good from the trials?
also what's going on the with SP today!?
Candid I think the efficacy of Filsuvez is marginal but I think it's been proven there is significant reduction in the pain and suffering of the patients.
So I think it will get over the line.
Only a few weeks to go before the the approval - AMRYT’s already positioning its worldwide sales force to sell it.
I wouldn't go making assumptions like that, as most people will confirm who were in imm prior to their FDA decision.
The important point is, if it isn't approved there's still a revenue that's growing, so wouldn't be as bad as something like that. Therefore, risk vs reward is there for me personally
Anyone seen any broker research about the chances of a successful approval? Got to be quite high as the safety record is good. Could FDA still approve if the efficacy is low to moderate? I’m guessing yes as something is better than nothing treatment wise.