Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.
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Thanks Sax, great response as always. It does look like EU investors know a good thing when they see it.
Sorry , should read enough cash to see them through 2021 ( not 2020 ).
Not exactly hot air .
At the end of 2020 - yes , they had no funding past Q1 2020
But..
They had 5 million euros cash at end of 2020
They raised 15 million euros in Feb 2021 , with the European Investment Council Fund ( EIC ) being the biggest part of that .
They also have over 13 million euros in funding via grants and soft loans.
So let say 30 million euros roughly by Feb .
Their cash burn has been approx 13-16 million euros a year .
However - instigating trials is a front loaded cost set up , so I'd imagine now things are rolling , the burn isn't quite as fast .
Either way - without any further funding/grants/loans/deals - they should have enough cash to see them through 2020 easily .
From the Feb RNS
Commenting on the successful Placing, Toni Hänninen, Chief Financial Officer of Faron, said: "We are extremely pleased with the results of this Placing conducted on a very competitive market. This allows us to accelerate our development programmes and significantly strengthens our balance sheet."
Worth re-reading what the placing investment was mainly to be used for :
Use of Proceeds
The primary reason for conducting the Fundraise was to accelerate and expand the clinical development of the Company's main drug candidates, bexmarilimab and Traumakine® (intravenous interferon beta). In summary:
Bexmarilimab
· testing higher frequency of dosing to investigate potential for enhanced clinical responses;
· three new trials to study bexmarilimab treatment in a neoadjuvant setting, in combination with a PD(L)-1 checkpoint inhibitor and in haematological malignancies; and
· continuation of the MATINS trial, where five solid tumour cohorts have demonstrated early signs of clinical benefit in the first two stages (Part I and II) of the study.
Traumakine
· launch of the phase II/III HIBISCUS study in the US; and
· preparations to expand into additional clinical indications.
General corporate
· establishment of an operational unit in the US;
· investment in the manufacturing of both bexmarilimab and intravenous interferon beta; and
· strengthening of the Company's balance sheet.
On hot air, just hoping it’s not cooling down. But the basket is very strong, don’t worry.
Didn't we say that we had enough cash to cover running costs till end of q1? What are we running on now?
Ref shorting, look what's happening to amc and the hedge funds. Looks like those guys are going to pull another gamestop on them
However, short selling rules are changing now. I think they will not short everything any more after next bull run. But it may take a while.
Not a fan of a US listing although see the advantages. They do love to short in the states and Yahoo Finance chat boards are rife with them.
When they listed on the naz first north if I remember write it came with an offering which was taken up by some existing and new investors (Swedish pension fund) I think!?!
Plus share for the public to buy.
I would expect the same thing for a US listing.
On the other hand, the BOD have successfully kept a large share of stock in the company and I don't imagine they would want to give that up percentage wise.
But we don't need to guess at figures, I think they have authorisation wrote in the last agm to be able to release a certain number of shares so these would be used I suspect... Unless they had a EAM announced.
But for sure, faron BOD won't sell out cheap to anyone, they have acted pretty shrewd to date
Yeah! Nice figures! Very impressive company and the presentation. So many facets to look in immunology.
The presentation reaches well current shareholders and is useful to get shareholders better understand the next decision or move as a company. I am happy being informed. Both Bex and Traumakine doing well with lot of opportunities.
Could even buy more but am satisfied with my position. Seems to be a very general attitude here? Getting new share owners in is difficult? A new listing or a rise can be inevitable but would be very costly for share owners with current SP. A proper road show should get on the wheels just for the sake of SP and then for a rise or a listing if meant to happen anyway?
So if you believe Bex and Traumakine will work anyway what prevents to make marketing for the share. It is the major financial instrument. Or is the current valuation ok?
If the idea is to sell the company, it does not need to be listed. In this case the current SP has nothing to do with the price of the company and an unfortunate US listing could be a disaster.in a bad case.
Listing in the States would not necessarily mean dilution we could easily have a system where they feed from the AIM stock, with HIBISCUS about to start and the support of the American DoD our profile is slowly raising over there.
I think a non dilutive listing would be a great start, even with limited initial interest it could significantly reduce our free float, drive up the SP and allow any future raises to actually be less dilutive.
4D Pharma (AIM DDDD) listed on NASDAQ (LBPS) earlier this year and the share price is about 10% down on listing price.
4D has similar market cap to FARN and has an open label Phase 1/2 trial ongoing in multiple cancers alongside Keytruda plus an IBS therapy at end of Phase 2 and promising preclinical work in Parkinson’s . So very similar in many ways, just using live bacteria from the gut.
Shows that a US listing is no silver bullet to an immediate share price increase. Results count just as much over there as over here, it’s just that the snowball effect once it gets investor attention is amplified.
Hardly anyone knows of FARN in Europe, let alone in the US so I’m sceptical of the value of listing there at the moment, especially as it would undoubtedly mean significant dilution.
The whole point of a US listing is to open the market for more investment. No doubt it will result in more shares aka dilution, however the more investors the more the share price will rise...
Another thought is that a US listing may open the way for a US company to partner or even buy us out.
Not 100% sure how I feel about a US listing ATM
Anyone know if there is a comparable exame of a small European pharma getting a US listing and the effect on the share price?
Does anyone know if we have always listed our market cap and any other references to money in USD?
Could we be about to see a push on a Stateside listing?
Interesting to see HQ listed as - Turku, Finland and presence in the United States.
Its a start :-)
Great to see Sirpa and Maija getting their share of the limelight now, along with Markku and Juho of course. Quite a family team :)
Very good presentation .
A real showcase for the team and Bexmarilimab - which seems to have taken over all the limelight recently .
Next update should be the dosing and frequency - and the all important soluble clever 1 data .
Interesting they noted that in the way they are developing this therapy - A similar strategy has been successfully utilised by major checkpoints, such as Keytruda, Opdivo and Yervoy
This shows how there is a clear path to market with Bexmalilimab , as these immunotherapy drugs have already made it .
https://www.keytruda.com/
https://www.opdivo.com/
https://www.yervoy.com/
if positive news then the SP should rise?
Link to the New presentation. Hibiscus: "First-patient-in expected in Q3 ’21".
https://www.faron.com/sites/default/files/Corporate%20Deck%20June%202021.pdf