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2.000.000 Buying pressure strong now and mms ready to lift up
(Alliance News) - Evgen Pharma PLC on Monday said the studies into its SFX-01 product were progressing positively regarding its activity in Glioblastoma cells.
Shares in Evgen Pharma were up 11% to 1.16 pence each in London on Monday before midday.
The clinical stage drug development company developing sulforaphane-based medicines said the laboratory of Marjolein Geurts, neuro-oncologist at the Erasmus University Medical Centre has observed continuing activity of SFX-01 in GBM cells.
"We have seen continued evidence of biological activity in patient-derived glioblastoma tissue," said Geurts.
Evgen Pharma said the in vitro studies, which are supported by a grant awarded by the KWF Dutch Cancer Society for a EUR1.1 million project, are designed to investigate the activity of SFX-01 in preclinical GBM models.
This work is to be followed by administration of SFX-01 to patients with GBM in a clinical investigator sponsored study. The scientific collaboration, which commenced in October 2023, will run for three years, generating data continuously throughout the period.
Up 10 percent and moving up now
1.2 million buys outstripping sells
Agree gordonbennet1 this was above 4.00 1 year ago, so very cheap and will rally later today
Market slow to pick up here, this was 1.8 last week and nothing has changed aside from a positive update this am
I see a lot people coming in later this afternoon
On the leaderboard risers
Nope. Just an opportunity for some to exit/reduce on the short lived spike.
FABULOUS POSITIVE NEWS
Finally something to get us a little excited
Did someone just sit on the algo buy button
Maybe Stalicla were just buying time, their payroll must be significant with all those MD's and they were busy doing deals so perhaps they got their cash forecasts wrong and needed to raise before doing anything...
They've got money after their funding round albeit Evgen didn't seem to give them much time to allocate and bring in new BODS.
The share price was around 1.8p only a fortnight ago and since the latest RNS the share price has dropped to 1p. But has anything actually changed?
I see on the Stalicla website the guidance has changed slightly on SFX-01 and now states: Phase 1 data is currently being evaluated to support further clinical development into phase 2 trials.
I think previously it was worded that this would go into phase 2 in 2024.
But that’s what we knew was happening, that they are analysing the stage 1 data.
I am not invested here any more but I don’t personally see what has changed from a fortnight ago. Everyone has been waiting on milestone payments for a while and EVG have simply made a formal query to advise that they believe they should have received $500k.
There is no indication that Stalicla are going to pull out of the deal. If I was holding this share I wouldn’t sell at this price.
Bottom draw it is with most pharma shares .IM WELL UNDERWATER ON GENI .However if it comes in that could all change a lot . GOOD LUCK all you know how pharma goes could be 10p one day and over a pound the next .THATS why i have pharma shares just in case
How can you post negative criticism without being a troll?
It's all a matter of balance ..
If one only posts negativity With no balance over many years ...
I personally don’t believe it’s as bad news as it seems. I would be glad that EVG are disputing payments to be received as they seemed to be letting Stalicla do what they wanted. There is no indication that Stalicla are pulling out of the deal, it’s on their website that this is going into phase 2 this year.
If I was holding this share I wouldn’t sell at this point.
Hit a 52 week low of .95 today 😪
I’ll never understand the hostility to anyone who posts criticism or negative posts about a share on these messageboards. It’s a messageboard for all opinions. Do you want only positive comments about a share? Do you want to censor any critical posts?
I’ve seen it so many times on AIM shares where there are loads of rampers and they gang up on anyone who posts anything negative.
I wish I had read critical posts on past messageboards about shares rather than only positive ones which make it sound like a share cannot fail.
I got called a troll last week - because I post negative comments about this share. So basically if you post anything negative you’re a troll? How can you post negative criticism without being a troll?
I could understand if the share is performing well but to go from 23p to 1p in 5 years surely warrants some criticism.
As for the current situation, I can’t understand what has happened here. If EVG were to announce all has been resolved and they will receive these payments in the coming months this share price will double. But will it get resolved?
You must have some form of gratification as you are a regular poster here for many years and yet you have no stake (Money) in THIS company...
Beats me why ...
I on the other hand rarely post here as this investment IS what i consider to be a 'bottom drawer ' which may go UP or Down in the short or medium term.
Biotech investments are High risk/ High gain stocks and are not for the faint hearted as we all well know..
No gratification whatsoever, the same way as you get no gratification from posting constant positivity.
This old world will never change when folk cannot change their views even when it is clear that they are wrong.
I can't believe that some posters like yourself spend their Time and energy here, posting Constant negativity ...
I Wonder what gratification you get ?
The level of delusional thinking and misplaced optimism that is displayed here day after day.
"Biotech companies are rushing to raise money in US equity markets at the fastest rate since the peak of the mid-pandemic market boom.
Drug developers raised $6.2bn in equity capital markets in January, according to data from Jefferies. That marked the largest total since February 2021, the same month that the most popular tracker of biotech stocks hit its all-time high.
The funding surge marks a sharp turnaround after a two-year deal drought that forced many companies to cut jobs and shelve projects to save costs, and forced some out of business."
I'm of the opposite view. The situation now is very bleak and the investment case is at it's weakest. Having to issue a formal notice to your partner, for a relatively small sum, especially when they have just raised 35x said payment, is bad news. Normal proceedings would have meant that the two companies would have had discussions regarding the payments. These discussions were clearly not fruitful for Evgen, the question is why?
If Evgen get the entirety of the $5.5m, the entire investment case improves dramatically. In my view, this would not be the time to sell as Evgen will have the funds to see out the Phase 2 trial, with cash likely to last into 2026. There will therefore be plenty of time for future inflection points in the share price and I would imagine one of the milestone payments would be on positive Phase 2 results. This will also enable the bod to advance the other indications in the pipeline and seek additional partners.