The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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pps Have you seen the amounts flying around in the new IMM partnership- and IMM retain the rights?And they failed their Phase 3 trial .....
ps
and thats how you get a market-people disagreeing over values....
Aimof the game -that was the situation for the previous owner and the ip/stock was valued at 6m dollars.And we passed the phase 3 tests ,the previous company didnt .And there is a wealth of evidence now ,with FDA collaborating (again!) to design the next trial(only one).I think it is worth more than current value- and note we are selling the asset ,not the company-that will become a cash shell.
I take your point about us being in a corner- that is why it is a gamble .But i genuinely think there is a chance we will get much more than the 6m dollars implied by the current share value
Let's be honest the only 1000% takeover was EPO and that was by VISA for some bizarre reason. You won't have to pay much for a twice failed PHASE III attempted drug. The company has no bargaining power at all, has no money and no product. Sell the asset for idk maybe 0.1 or 0.4p, GL gets his pay day and goes off into the sun having done nothing
2p-it wasnt a prediction or a desire- was trying to put the current 0.2 p into perspective
Who would take 2p a share?
"Motif is in the unusual position of being able to access a huge amount of data
accumulated in the earlier clinical development of iclaprim and this has defined the design and administration of the
additional trials required by the regulators. "
"Motif BioSciences Inc., as the result of the merger agreement with Nuprim Inc., acquired the exclusive rights to Nuprim’s
iclaprim assets and the rights to acquire 600 kilograms of iclaprim API over a period ending 31 December 2017.
So we paid 6m dollars roughly to acquire the rights and 600,000 kgs at the outset. "
How much more data have we got now,at what investment ! And we are one step from getting fda approval for TWO applications.
So in my view we do have a valuable asset- the question is what value ,and bearing in mind the outstanding hercules loan but also the recent reversal of the liability to advisers-net liability 4.7m dollars
At the moment we are valued at around 1,2m pounds net or 1,6m dollars . So essentially the market is valuing the iclaprim asset as the same as when we acquired it(6.3m) ,nothwithstanding the enormous amount of work carried on since.
If we get a further 12m pounds worth ie 16m dollars that would equate to around 2 p a share .
I think the share is undervalued .
I also think GL has tried to look after shareholders by crystallising the asset VALUE NOW for the current shareholding - much better than raising hugely dilutive equity with rewards much further down the track .(and he probably couldnt have got a raise away -it would have left us a small minority after a placing )I think he knows there is real value now ,as witness the statements about commercial interest ,and all the plans re the cash shell . So I am more optimistic than the doomsters .....and have further added !
BUT it is a gamble..............