Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I think you’ll find that’s old news. I get all PRTC updates live to my email.
Sorry wrong link lol 😂
It was there this morning ??
It was posted on the 29 of feb
****nal
i cannot find relevant puretech mention in tipranks.
anything of interest
I just topped up. Maxed out also now
....the most exciting and well supported investment currently and I suspect its SP will rocket over a rather short space of time. I have filled up here. Check it out and so will you!
Ars,
Hopefully Puretech will RNS this information later today when US markets open
Cheers
have you got a link or article to it ****nal?
PureTech Health’s fully human anti-galectin-9 IgG4 monoclonal antibody was granted FDA orphan status as a treatment of Acute Myeloid Leukemia, according to a post to the agency’s website.
Published first on – the ultimate source for real-time, market-moving breaking financial news.
PureTech Health treatment of Acute Myeloid Leukemia granted FDA orphan status
Lesley, The only way Puretech would be at £1 in a year is if they were facing some kind of serious litigation against them. They have £1 cash per share pre Karuna. By May / June, we will have £2 per share and then by September with further milestone payments closer to £2.50 per share in the bank.
A couple of false dawns recently but I dare not trade this. Always a chance of waking up to a £4+ cash offer which would be cheap.
Oldernowiser
Good to see you joining the Puretech chat..we are both involved in Immupharma.
However Puretech is a cash rich exciting Pharma company with major catalysts in the coming months.
Immupharma is interesting with risk / reward of a different dimension to Puretech.
Best of luck
A crystal ball wouldn't help work out the SP for Puretech.It could be doubled or halved by the end of the year
...now I know the potential!
Thank you.
Redduke
As we all know about the litigious nature of corporate life in the US, law suits from a few small investors ( or large in most cases) in acquisition/ takeover transactions is almost the norm.
At the EGM of Karuna in 2 weeks time, the Directors will be duty bound to answer all relevant questions in relation to the takeover proposal from BMS and justify their recommendation to accept the offer.
If a majority of shareholders approve the transaction at the EGM then any litigation by a disgruntled few shareholders faces an uphill battle.
If it is a ploy by the litigants to get the Directors to improve the terms of the sale, then perhaps the Directors may have a few sweeteners to offer at the EGM even though this is probably unlikely.
I can't remember any major acquisition in the US that didn't involve some ambulance chasing by lawyers to try and get a bit extra for clients in the deal and thus garner fat fees for them.
Nothing for us to worry about imho.
These are very informative posts , thank you.
Do the small shareholders that have launched the suit in the us have any chance of stopping the deal ? Even if shareholder approval is granted company side ? I tried accessing the legal submission but could not , I can see if they aren’t successful they want compensation. It seems they must think they have a case , as the documents show clear inadequacies in the company disclosure eg the value of the other bidder, the conditions of management employment ?
You would think the company had their announcements reviewed by legal counsel pre circulation though .
Any thoughts ?
The right notes..but not necessarily in the right order..Eric Morecambe.
Next date to watch is the 12 March when Karuna vote on the acquisition by BMS at an Extraordinary General Meeting.
A number of Karuna shareholders have launched legal action against the Directors in the US for what they maintain was a poor deal at below Karuna's true value of c$20 billion .
On approval by Karuna shareholders at the EGM the only remaining hurdle is the US Government regulatory approval on the transaction from a monopoly/ competition perspective which should be a formality.
The deal will then be concluded and is not dependent on the FDA approval of KarXT on the 26th September.
The share price of Puretech is restrained by the small chance of a hiccup in the acquisition but once it is confirmed I expect an immediate jump in the SP .
....the right notes!
AKLI is a 15% holding for Puretech. The news was announced in the US yesterday and the shares were up over 100%. The MC was at $20 million and sits around $40 million after hours so $6 million to Puretech. That’s not going to move the dial massively on a $700 million company.
The drivers of the share price will be:
- Karuna deal and royalties completion news
- Buyback, special dividend, tender offer
- LYT 100 p2 readout and deals
- Vedanta IPO / takeover etc
No reaction so far
https://investors.puretechhealth.com/news-releases/news-release-details/puretech-founded-entity-akili-announces-positive-results
'Biotechnology company PureTech Health headed in the other direction after the company it founded remained on track to be bought by the US pharma giant Bristol Myers Squibb for $14billion during the first half of this year.
Karuna Therapeutics, which is developing a treatment for adults suffering from schizophrenia that is being reviewed by the US regulator, agreed the takeover in December 2023.
Shares in PureTech Health surged 11.6 per cent, or 22.1p, to 213.5p.'
https://www.thisismoney.co.uk/money/markets/article-13119317/MARKET-REPORT-Fintech-firm-CAB-Payments-axes-boss-flotation-flop.html?ico=mol_desktop_moneymarkets-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Fmarkets%2Findex.html
I would imagine there has been a seller holding the share price down. The metrics are clearly out of sync. On receipt of the Karuna takeover expected by the end of H1, Puretech will have $640 million in the bank. We may or may not by that point have a deal with BMS on the royalties, milestone payments. If no deal is done, by the end of Q3 there will be a milestone paid on FDA approval which you would expect to be around $100 million. Year end cash will be eye watering either way.