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The company would be required to make some comment re the collapse in the share price over the last few weeks....Guess..those in the inner circle know exactly what's happening...gla
4p fall since last Wednesday. What?!?
There were quite a few big transactions today so far. Who is picking up the shares? Lombard Odier?
Finwit
what kind of 'trading groups' ?
I know several trading groups who are shorting this share and as of last Wednesday none were looking to close the short yet?
Think this has got further room to fall yet before shorts need to close. 15th might produce some positivity however I don’t expect to see anything but the continued slide for quite a while
I think the board could be a bit more communicative. I don't expect them to put out news for the sake of it but there must have been something noteworthy they have achieved. And if they haven't, they should pull their finger out !
Money? They had 10m on 31th of Jan and they got another 16m in August. Right now they must have 18-20 I guess. Basically their portfolio is valued 2-4m right now.
Somebody shorting like fck..bad news next week re monies ( but that has been sorted since) and they will play with that, you will see all the gloom amd doom gang turn up.....Good time to top up if you can call it near its low.
SP at 5 years low, MCAP 22m, CASH with 15-18m, promising pipeline, milestone payment soon, Polar Capital bought 5m shares at 15-17p recently, Directors' options at 15p. What a joke.
Year end results out next week, they're going to be bad, but we know that.....going forward though, approx £15 million in cash and some promising trials/partnerships in hand...so looking to be on a better footing now.
BUT...we still have someone driving the price down for their advantage, so the games will continue..gla
Market makers trying to find a bottom!! Think last results were on 15th dec! They have a good cash buffer !! I added some today at just under 10p !! We need a good guidance in the results
Strange idea tbh. It was a massive drop on relatively low volumes today, hopefully they provide some operational update with the result soon.
So they’ve sold over 43m shares to open a short at these levels? I don’t think so
So you say they are shorting it to go long cheaper?
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.