The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Today's RNS provides a possible explanation for the apparent push-back of HEMO CAR-T clinical trials. On 3rd February it was announced that 'The Company intends to initiate PhaseI/IIa clinical studies by the end of 2021/beginning of 2022' whereas in last week's podcast with TMS Reach Vlad said that the expectation for commencement of CAR-T trials was now summer 2022. Such development is somewhat frustrating as shareholders are consistently being told 'this will accelerate the company's development of its pipeline products' - time for them to stop using that phrase I think.
However and more importantly the signing up to new premises and the specific mention of CAR-T in today's RNS inherently suggests that the work with Penn on HEMO CAR-T has been successful so far. I don't think they would be doing this if any problems had been encountered in the IND enabling studies being undertaken with Penn - it must be getting ready to go trials.
Well it's been lively communication today. Enough said.
Just thought I'd say that it seems the MMs want all my shares (4 million), but I can only buy a maximum of 750k at the moment. So hopefully the SP moves up later again
Yeah hulver, lots of potential...
Maybe one of these treatments will work out...
Maybe by that time the SP and any potential rewards for investors won't have been diluted to hell...
Who knows what might happen?
Yeah hulver, lots of potential...
Maybe one of these treatments will work out...
Maybe by that time the SP and any potential rewards for investors won't have been diluted to hell...
Who knows what might happen?
Your right, also looks like there are other perks such as tax incentives:
https://www.taysteebldg.com/wp-content/uploads/2020/02/Economic-Incentives.pdf (Thanks to Pokerchips)
RELOCATION AND EMPLOYMENT ASSISTANCE PROGRAM
$10-$20 per Rsf per year.
COMMERCIAL RENT TAX EXEMPTION
$2 per Rsf per year.
ENERGY COST-SAVINGS PROGRAM AND BUSINESS INCENTIVE RATE
$1 per Rsf per year.
REAL ESTATE TAX EXEMPTION
The Manhattanville Factory District Buildings will qualify for an enhanced 25 year Industrial and Commercial Abatement Program(ICAP) real estate tax benefit that will significantly reduce tenants’ exposure to real estate tax increases
This company , Quentin therapeutics , got a $1m grant movingg to this location...let's hope vlad gets a grant too?
https://www.connectcre.com/stories/biotech-firm-takes-rd-office-space-at-the-mink-building/
and potentially very rewarding!
Have to hope Vlad can find the magic money tree because this is all starting to get very expensive.
I wonder whether we will learn significantly more regarding future financing plans (or the extent to which financing is needed) when/if we are updated regarding the Orgenesis Convertible Loans due for conversion or repayment by 7 November 2021:
(Extract taken from the Mint Prospectus):
"on 7 November 2018 the Group entered in to the Orgenesis Convertible Loan Facilities comprising two loans. The loan amounts were for not less than US$1,000,000 each with the proceeds of the loans to be used solely for (a) the development of the cell therapy technology and (b) for the development of the Company’s AHC humanised mouse models and their use for antibody development, in accordance with the plans of the associated collaboration agreements. The loans carry an interest rate of 2 per cent. and have a term of three years. Orgenesis has the option to convert both principal and accrued interest into equity in Hemogenyx-Cell SPRL (“Hemogenyx-Cell”) and Immugenyx respectively at any time prior to maturity. Under the Orgenesis Convertible Loan Facilities the lender has the right to convert the outstanding convertible loan amount into either: (i) shares in Hemogenyx-Cell at a price per share based on a pre-money valuation of $12,000,000 or shares in Immugenyx at a price per share based on a pre-money valuation of $8,000,000, respectively; or (ii) shares of Orgenesis’ common stock at a price per share equal to the weighted average trading price of Orgenesis’ common stock for the three trading days preceding conversion. The full amount of the facility was drawn down by the Group in February 2020
In addition, to the extent that Orgenesis does not elect to convert the outstanding convertible loan under the Orgenesis Convertible Loan Facilities, the Group will need to repay the principal of $2,000,000 plus accrued interest in November 2021".
As I understand it the Immugenyx loan was in respect of AHC mouse development and the Hemogenyx-SPRL loan in respect of Hu-Phec.
What are others thoughts here:
- have recent events been focussed on unravelling the development contributions or legal obligations of previous collaboration agreements with Orgs and Eli, to the satisfaction of both parties;
- are we possibly looking at joint venture(s) of either subsidiary with funding provided on CDX/Hu-Phec or even CAR-T;
- could there be another Global Co in the frame for CAR-T ?
In my view HEMO CAR-T seems to fit quite well with ORGS focus and POCare Platform model; Vlad was in Maryland earlier in the year.
I am not sure Janus would be entering into such a property lease unless HEMO could clearly demonstrate the future financing for it. Similarly with regard to agreements with parties for CAR-T manufacturing and the high level personnel engagements and collaborations.
Im my view there is a much bigger plan in play here.
Well I read this RNS as a very positive step, but obviously this is going to take many months, if not a year or two, for a real surge in price now. They are also going to need more funds probably in early 2023. That's also a concern when the time comes. Meanwhile those nasty MMs will keep holding this down to around the 2p mark.
Our day will come I'm sure. EVENTUALLY!!!
The only disappointment here is the way the stock price is being held around 2p ... I know this is a long term hold but looks like this is a barrier to the move up
For those disappointed with the speed and progress... The rns says: "We will be growing our staff and operations significantly over the next three years"
It does not say:
"we will be sitting on our ar$€ for the next 2 years and 11 months only to grow our staff and operations significantly at the 11th hour"
Pawnking1 .. I think you didn't understand my comments. I am totally chilled after this RNS even though the market will not be until a big announcement or money starts pouring in and that is fine. I am just hoping for a rerate past 2p towards 3p to help recover some paperlosses that's all
Definately this company is going places and just waiting for the market to appreciate how ridiculously low the MCAP and stock price is at present
Chill Mr India. You must be a constant nervous wreck. We have been asking for more regular dialogue from the company, and updates like this are exactly what we want. Informs the business is moving forward with dedicated clean room facilities which are required for moving the products forward. Obviously taking a lease isn't going to move the SP either way, it's just informative.
You are down, I am down but looking at the daily SP isn't going to help your nervousness. Come back in a year with IND for CDX and CAR-T complete and see what the SP is then. It's pharma, it's a slow burn. Slower than we all hoped, I agree but nonetheless. Chill
Hi Mr India...there is now a clear 3 year plan they way I have read this.
The Market will dismiss every RNS until we get cash coming inwards and not outwards, but this is natural R&D for a specific approach. The market play on the sentiments of people who want a 200% return in a year, this is a medium to long term investment.
I am happy with this, its one to put away for a while, put it is another very good strategic step forward.
Sounds very expensive for a company with no income.
Bline59 ... what's coming? the market doesnt like the RNS unfortunately. I think this is very positive and shows confidence that the company is going on its own and has the backing of the board.
It's coming you lovely people, it's coming.