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I was right...gla
We will know in a time, if their holding increases again...gla
Agree with your summary David. ETX is another share I hold, which follows a very similar SP path to C4XD. Both in similar markets and the trend is there for all to see, despite both holding really good prospects
Year end results will be due out in mid December. C4X is another example of the difficult market and SP has collapsed without any major bad news from 31p to 12p. 15 months ago £5.7m was raised at 25p and those investors are down by 50%.
In fact most of the news is good and with £15m from selling Orexin 1 the funding position should be secure for 2024. The position is not helped by lack of regular updates and retail investors are unwilling to support companies that don't value them. Bought 40k as a recovery punt but shown as a sell.
Probably be Lombard adding again like the other month. Similar pattern. Had a little look and two new jobs posted on the website and LinkedIn in last couple of days.
Seems odd how big the decline is on tiny volume & no news.
Good interview this afternoon on Proactive Investor- all sounds very promising and the case for divestment makes perfect sense
No they don't
This is from the year end accounts, revealed in Dec:
The Group had net assets at 31 July 2022 of £11.8 million (2021: £19.3m). Cash and cash equivalents of £5.1 million (2021: £17.1m) were improved post balance sheet by proceeds from the Placing of £5.7million and receipt of both the Sanofi milestone debtor of €3million and the prior year R&D tax credit of £2.1million.
Both cash and costs continue to be prudently and tightly managed.
These financial statements have been prepared on a going concern basis, notwithstanding a consolidated operating loss for the year ended 31 July 2022 of £10.5 million (2021: £5.9m), revenues of £2.7 million (2021: £5.6m) and net cash used in operating activities of £12.1 million (2021: £3.1m). The Directors consider this to be appropriate for the following reasons:
The Board has prepared a number of cash flow forecasts for the period to 31 July 2024. Each of these show cash resource until March 2024, being 15 months from the date of signing the financial statements.
Should the company not receive any revenues from existing or new deals in the forecast period, a cash shortfall will arise in early 2024. The Board considers they are able to take reasonable mitigating action, which includes but is not limited to a reduction in expenditure on certain discretionary research programmes to focus purely on commercialising earlier stage drug molecules, and reducing other discretionary administrative expenditure, which would enable the Group and Company to continue to operate within its existing cash resources during the forecast period without the need for additional funding.
As I posted before, they needed money now or they would run out, the placing mentioned below was last August....do the maths
The following statement is from last year after the last placing.
The net proceeds from the Placing will be used to strengthen the Company's balance sheet as partnering discussions progress and provide working capital to continue to develop the Company's portfolio of early-stage, high-value small molecule programmes. The net proceeds of the Placing are expected to provide the Company with at least twelve months cash flow.
Isthisawinner, they didn’t need funding as they have sufficient cash into early 2024 . A previous RNS referred to expanding into immunology. It’s about the strategy and not a dash for cash. As a result the company is well funded from here and the cash runway is significantly extended IMO.
If you don't like the approach/strategy, sell up and leave the board
Stop with all the waffle....nobody willing to fund them, so a fire sale on their lead drug.. just my opinion, sounds like your happy with the smoke and mirrors, good for you.
Isthisawinner,
Unless you have inside knowledge of the terms and conditions of the Indivior licensing agreement then how can you possibly know that this is a bad deal? To make that judgement call you'd need to know the triggers, the timing and the amounts of any near and medium term milestones. You'd also need to know details of the negotiations with Indivior, what their intentions are for INDV-2000 and how the drug is performing in a notoriously difficult field.
Given the inherent risks in early drug development it seems like a good strategic move from C4X to realise value from non-core assets and secure funding to enable development of their core pipeline. Time will tell, but the funding cloud is weighing heavily on several bios at the moment and it's great to see it dealt with in a non-dilutive way.
Yep, sold for beans...
The company had a cash runway until at least early 2024 and now it has been extended by $15.95m. Any cash Fund pressure is well and truly dealt with. No dilution and still 2 more that could yield significant milestone payments in the future.
So much for your placing rubbish - a near £16m cash injection from the INDV sale.
The most advanced drug they had and sold it for little more than the grant Indivior got, this money will be gone by next year and we'll be back in the same position....
Not a good deal by far...
Could get a business update next week. 2nd of August last year.
If it was a placing the shares would be drifting lol Do you think C4XD hoodwink their institutional clients into pushing the stock higher and then ask them to buy more shares lol
Been pushed up slowly day by day...watch out for a placing
Lol....look in the mirror, that's where you'll see a real clown.......placing on the cards atm ?...
The following statement is from last year after the last placing.
The net proceeds from the Placing will be used to strengthen the Company's balance sheet as partnering discussions progress and provide working capital to continue to develop the Company's portfolio of early-stage, high-value small molecule programmes. The net proceeds of the Placing are expected to provide the Company with at least twelve months working capital.
Clown lol The shares spiked because a seller was cleared - which world do you live in?
Says it all, Clive kick her out because she was useless and that's why we've had the recent spike in the sp....so she could sell her share options as a severance pay.
No…milestone payments are on the cards