The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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"...the Directors have prepared cash fow forecasts covering the period ending 31 December 2024 that take into account the likely run rate on overheads and research and development expenditure and the prudent expectations of income from out-licensing rights to its programmes or a fundraising."
Yes Chab, I also seem to vaguely recall reading words about having enough money to see us through for a while, something along the lines of:
"However, it is the Directors' reasonable expectation that the Group has adequate resources to continue to operate as a going concern for at least twelve months from the date of the approval of the accounts. In forming this assessment, the Directors have prepared cashflow forecasts covering the period ending 31 December 2024"
Ah well, the more the merrier, eh?
As for yesterday's question from Older: "Why not a subscription for existing shareholders?".
I think the question might have been a little naive. Do you not think long term shareholders can be a bit high maintenance? They tend to stick around, expect results and remember all the stuff that was promised and never delivered. Why go cap in hand to them if you can get money from more ethereal sources that appear to be able to profit from a quick exit without the need to get bogged down filing unnecessary notification paperwork? That sounds like a win - win to me.
PS. I also heard someone mention in recent posts that the board had stopped taking remuneration until the company was in a position to afford it. I'm not sure it's accurate to say it was entire board. However, it's a very noble gesture from those who have taken the hit:
"In addition, the non-executive directors have elected not to take payment of their salaries until such time as the business holds sufficient funds to enable them to do so."
Thanks again to Older for sharing what he heard at the recent Telegram trader huddle. One thing I think that did stand out from that was the importance of gaining orphan status if we want any kind of a meaningful deal with big pharma. That means we should all know whether or not this really has legs in about 3 months...and if we don't get it, well, maybe we can discharge the upkeep of any future costs of the patent estate in some other way.
Chab, not sure where anyone was saying funded through 2024.
My commentary was from the 30m odd sales a few weeks ago, my assumption being the conversion of the warrants which would net 85k to the company.
Might get some when they drop to 20p or shall i wait longer nft.
Dan and Jo hold 75 hasnt changed they will see it through and you
will be sitting without a ticket 🤣
No Redshoes 👞
That’s not why they have only done 10%. And yes you were saying they had plenty of funds to last.
Simply if they tried more the price would been a lot lower and the risk for those who will be dumping those shares over coming months will struggle.
Every year now this share has a large holding being dumped. When that finishes they will then raise the next tranche and so on. Sort of like Lanstead but just more conventional and easier.
I may have picked this up wrong, and apologies if it's incorrect, but wasn't it just a few weeks ago that folk were saying we were funded til end of 24? And therefore didn't need a raise ?
ATB
Agreed jiving, under the resolutions NFX could have issued up to 20% of shares in issue, so to only issue 10% shows they only need a specific amount and are confident they don’t need more.
The drop in price yesterday was I feel a tad over done ... However it provided me a rare opportunity to double my holdings and average down significantly ... Here's to fruitful negotiations. LH&K Mafuta
Agreed, it was under 10%, which by current UK smaller company standards is a small raise. Dan has remained a big shareholder throughout the upheavals & dilution impacts him & Jo more than anyone. He has restored financial discipline & tight budgeting to the company so we have essentially zero waste. Frankly it is also not a good idea for a biotech company to begin negotiations with major pharma's with no gas in the tank.
🤪
Certain is a queer sort.
Far from bitter I’m actually quite happy funding has been done. Plus they didn’t feel the need to use the full allowance that they could have done.
NFTs is sadly bipolar, he deserves our sympathy & forgiveness - he literally does not know what he is doing or why. Once a delusional, fanatical cheerleader for NFX who brooked no questioning of his repeatedly failed predictions he has now become an unhinged critic - making more postings on the NFX board than the AVCT where he is invested.
I’m sorry but I’m not the one being bitter!
Perhaps you need a mirror also.
Hard for some to reflect on the fact they got it wrong here.
Both your and our investment have good outcomes and help people why be bitter?
Ok the man that predicts a placing on the wrong share 🤣
Well done but where does that help you?
Lucky you have no interest here then.
Really?
I do t remember any of you saying there is a placing coming.
All I ever read is wonderful stuff coming going to be great same rubbish every month after month. Yet here you are after two years more diluted less cash than at any previous time with works required no deal anywhere near and requires orphan status to try get them to become interested.
They will have the option to allot more stock after the AGM which they will use in September this year to keep them going till next AGM. Miracles can happen but no new developments here apart from some worthless updates on NXP004
It's looking more and more likely that you're the one who hasn't got a clue bud
I know you’re making yourself look rather stupid and desperate by still posting here when you’re not invested.
You haven’t got a clue what I have or haven’t done.
The presumption and arrogance is rife. The failure to see is your weakness
It was you NFTs who brought up Avacta, urging people here to buy at £1-35 ps (which you did) since when the share price has tanked
The point is you spent an inordinate amount of time here talking about a placing coming up, yet neglected to see on happening in a company you are invested in which saw a 60% drop in the sp!
I think you need to focus on the shares your invested in rather than the ones your not.
Not sure why you want to keep discussing other shares here as you keep mentioning Avacta.
But you are absolutely correct that the market are corrupt as we all know. It’s basically about trying to miss the bullet and catching it after the drops if IF the companies are investable.
So when comparing since you want to keep talking about AVACTA then it’s a little bit childish.
AVACTA is a huge huge huge potential with assets already close to being able to sell for billions to BP yet here we have something that has been trying for years to get one thing over the line properly and that being NXP002. The rest is worth few grand as you see with NXP001 etc now gone.
It has no office no proper management absolutely no income but bleeding shareholders every 6 to 12 months and now on its last throw or so of the dice.
Not sure you can even begin to compare lol
They'll close out the placing with shares being admitted next Wednesday, at least its all sorted now.
Good to see that this is all in support of the current discussions with potential partners.
NXP002 European patent is all but confirmed, this will then feed into the Orphan Designation submission.
NXP004 Japanese patent is granted, pending formal confirmation.
Discussions with partners continues alongside these.
Still seeking attention NFT. Might as well move on. Life is too short. You are not the great mind you seem to think you are.