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PG, yes the intent wasn't there from the BoD but to let your company go down for a 13 million loan when they could of raised many more millions is very upsetting to say the least, hoping some good comes out of it as it's not looking good.
Isn't Duncan that Geordie guy who went on every share interview channel to pump dddd up for various placings? I think I made like quick 50% gain and profit . I think COVID was such a great cash grab dddd and GDR exploited it. Ncyt are basically the only UK listed company which didn't need a placing and know how to a run a business during a pandemic more than most
£30m placings in 2020 were genius cash grab , especially then using the COVID narrative
Sileng... I understand your anger, I am also extremely angry.. but the difference between shorters and BoD is in INTENT.
I think BoD made huge mistakes to get us into this position... but don't thinknit was their intent to crash 4D. I really don't think so.
Shorters, on another hand, are scum. They know what they're doing and are happy to do it. Their actions lead to people suffering and dying earlier. Yesterday's RNS is a proof of that And they are even proud of it.
Michael really hope you're right! I am just finding it very hard to believe that BoD is capable of any special moves that would see us out of the woods - after they have allowed us to get to this point. Very much hope to be wrong, promise you that :)
I suppose I am angry with myself for believing in 4D's BoD that, on paper, looked quite decent and certainly skilled enough to ensure that plane doesn't crash into the mountain.
Then again I was wrong once, so could be wrong again!!! Hope so!
And yes, we need some new faces in charge to restore confidence.
Shorters are scum, well said, what would you say about the ppl running this company to the ground, costing investors millions, going into administration without a minutes notice, they made the decisions the scum bags, they knew what they were doing, they are the scum responsible costing patients lives as all trails are on hold.
Cheers Porky... all we lost (there is still some chance we haven't) is money. Some of these cancer patients have just lost their last chance to have another 6-12 months with their families.
Not only that - microbiome drugs because of their excellent safety profile help patients on their death beds have a much more dignified/better tolerated end-of-life care.
I really hope 4D survive this. Hope dies last. If we don't hope it goes to someone with cash to pump into trials and get these treatments into hospitals ASAP.
To put my selfish investor hat on - I hope our patience pays off here and money is found.. Odds not looking great atm but a bit better than a few dyas ago I think (hope).
Fingers crossed.
Phil, agreed except that I think there is more than 50% chance of the company coming back as a going concern.
CFO should go yesterday and Duncan is not organised enough to run the business. But, the post-administration company would benefit a lot from Duncan contributing and advising from the sidelines. Something that should be a big plus about the business, the diversity of its programmes, has proved to be its Achilles's heel because of CFO/CEO incompetence. They did have a number of options to partly sell down interests in the most advanced programmes to fund the earlier ones.
A big plus is that Interpath has the experience and the market environment re biotechs is rapidly improving.
Also well said in last posts re the scums that include bitter "investors" that have been talking down a business - nothing to do with constructive criticism.
Taverham, I share your cynicism. OF have charges over the company's IP's ( why oh why DP and co agreed too that, only displays a kind of desparation or complete ignorance of Funding models).
Merck have important interests, which from what we now know, what are the terms 4D agreed? It is difficult to see MSD allowing a 3rd party to elbow in ( bidding war) should the Administrators be persuaded otherwise.
I certainly agree with Phil..., should the company emerge from Administration, there is NO way the current CEO and CFO can continue in post. That prospect may not be in the gift of existing shareholders but remaining Creditors who are persauded to continue support of 4D.
What the hell the CFO has been doing since appointment in January, apart from drawing a handsome pay cheque, Lord alone knows.
Taverham... if company does go down (still the more likely scenario imo) then I am fairly confident there will be plenty of investors filing lawsuits. Phrasing an RNS to sound more optimistic/positive will not change that.
The only way I can see investors not going down the legal route is if the company gets out of administration... or a few parties get involved in a bidding war and company does get sold in a way that pays off investors (less likely imo).
If 4D somehow manages in the end to come out of administrationI believe there would need to be a different CEO and CFO in my opinion. I would actually suggest Duncan moved to some kind of a 'Chairman' role where he is involved 'from the rear'. He is still very important to the business, and has been instrumental in building the company and the existing partnerships. I currently see no value in what the new CFO has brought to the table, apart from being involved in possibly the worst investor meeting of all time (referring to the infamous Q&A session). Hope I am wrong.
We just need to sit and wait now and hope things go our way. I have no expectations at this point. Planning for the worst and hoping for the best.
If the administrator had written the RNS I would be more comforted - could it be a cynical ploy to disuade investors from going down a legal recourse route? Could the next one will read 'whilst every endeavour was made,,,,,,, it has not been possible to secure extra funding and the company is now in liquidation'? I hope not for the sake of patients and investors - we shall see.
@PhilGekko
I could not have put it better myself
And to think some of these shorting scum bags are actually gloating regarding what a great job they have done shorting this business into the ground. I am totally disgusted, #heartbroken frankly
Money you can replace, Human life you can't
You take care Phil
Porks'
Great posts Phil and you are on the money.
Admin update Reads upbeat. It’s made my weekend a better.
Keep them fingers crossed
Barry... actions have consequences. Shorting biotechs trying to save/prolong lives is not the same as shorting a weapons manufacturer. Anyone pretending it's all the same to them is just scum.
Apart from that I agree this is all primarily happening as a result of a series of bad decisions by the BoD imo. Had those mistakes not been made shorters wouldn't have been circling around like vultures.
It is just today's RNS that reminded me of the human cost of this car crash.
It will twist arms but it does not mean that activity will go forward in the current group structure with PIs not cut lose.
Phil, I share your feelings about shorters. I hate them but the fact is they don't see shares the same way as LTHs do so they won't concern themselves with what a company does and the effects that what they do may have but they will already have moved on by now to raid another target and try to create misery and mayhem there.
If our company hadn't been so weak they wouldn't have succeeded in helping to bring it down.
Let's hope we can get out of this in the end with much reduced losses or even better.
GLA
Makes you wonder if they are trying to twist the arm of Merck who may be keen for keytruda trials to continue.
Yes, could be worse. Some potential positivity can be taken from that statement.
This sounds pretty upbeat, from the RNS:
"4D pharma is working with the administrators to enable an exit from administration as soon as possible and, in the event that the company does exit administration, currently plans to recommence recruitment so long as additional capital funding is secured. Further announcements will be made in due course".
Shout out to all the shorters here who've been proud of shorting 4D - perhaps you should share the news that trials are being suspended with cancer patients who are about to die and are looking for treatments/compounds like 0518 to extend their time on this earth.
Without any intention of shifting blame from BoD's catastrophic mistakes - I have to say if you are shorting Oncology biotechs and running them into ground you are scum. You just are. Hope you never end up needing an Oncokogy treatment. Scum.