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Feeling a bit underwhelmed tbh - if CC wants to improve communications with shareholders I would have expected her to address the placing price issue directly (she was on the board that approved it) and give us at least some updates like who the healthcare investor is and how many cohorts have been started in the two-weekly study. The science is great, but we know that already!
Absolutely agree with this point. Should have been hit head on and put to bed. Lots of expected and better presented great science but nothing hard on the business side to make investors want to buy in at this point.
Months down the road for major updates was mentioned a few times.
Precision clearly works, explain the runway and market sizes now.
Rsm61...just as frustrated as you re the European Healthcare Investor but she won't say anything if they are still negotiating/working on how the company moves forward with this company. Today we had a change of CEO..Step One many on here were wishing for...Step 2 will be fairly soon and pretty significant IMO...
Agree Bella. Did AS jump or was he pushed? Can’t help thinking he’s been a hindrance to the development of the company. Still thinking it’s his personal plaything, and negotiating with BP from this position. Have BP had a quiet word? I agree big news is now more likely in the short - medium term.
The fact that there was no message from AS in the announcement speaks volumes.
Bella6532--."Step 2 will be fairly soon and pretty significant IMO..."
Agree, there are procedures that all parties have to follow in these fundamental change situations ( of which a change of CEO is one) and I don't think it will be too long before Dr Coughlin starts doing things her way, particularly regarding updates on FDA accelerated approvals and what's going on with Dr Tap and trials at MSK and other venues in the States.
I wish her well in her work and efforts to bring help to all suffering with this dreadful disease
I wasn't expecting any information about the 'European specialist healthcare fund' (aka AXA Framlington Biotech) as Avacta have no right to disclose what the fund is, nor about Q2W cohort 1 as there was nothing about it in today's RNS, but I wasn't expecting CC to duck questions about the 50p placing. Clearly it was arranged in advance so that all the questions about the placing could be lost in the questions about strategy.
I think the placing question had to be asked as otherwise InvestorMeet might be accused of avoiding hard questions by it's users - and rightly so.
The detail about the placing might come out as a result of 'everything is on the table' and the needs of a new CEO to show she is willing to deal with shareholder questions fully and fairly, ala efforts to improve comms.
We'll see.
CTSFO...this has been in the pipeline for some time...regardless of what they say, Eliot I think had CC Head Hunted, so to speak, perhaps to keep AS off the scent. Eliot didn't just get the job at Levicept yesterday either...he will have know some if not all of the Investors (he's a networker) and they bought him in and together they have working on the next moves for Avacta etc...AS wasn't the first to go remember...
I suspect CC also knows the Levicept Investors too...
Looking at the Levicept product trial...could PreCision be used with their drug...OK it's not cancer related BUT Osteoarthritis is one of the most common orthopedic diseases worldwide.
It's going to be interesting to see who the next Board member is...
She clearly ducked the 50p raise issue - and I said so in my feedback. Her first outing as CEO she could have kitchen sinked the whole issue - buy chose to be evasive - not a good start IMO (we've had years of that already)!
Not sure I get you guys, there is no issue it was a challenging environment and our BD is currently trying to do deals. It’s been done, read between the lines, Dr Smith fell on his sword for that decision making. We move on with a new CEO in charge. This chapter (shock placing for 19-20% Dilution at 70% plus drop “based on sentiment driven can’t trust Al imo”) should be consigned to the history books, change has been made. Fundamentally nothing has changed since Oct on the science and potential of FDA approval, that’s the main thing.
So she was supposed to say that's why AS has gone?
Also left feedback to that effect and requested more direct communication regarding business and commercialisation strategy. In her defence, she hasn't even officially started as CEO and also stated that she was working closely with the board and there would be further updates in due course.
No - we need to know why they had to raise at 50p - until we know there will be lingering suspicions regarding the science etc. - it needs outing then burying. A new CEO should be a new start - if she doesn't get this buried once and for all it will constantly be luggage she has to carry.
Gje306 has a point.
She doesn't need to say anything until she becomes CEO tomorrow.
ie It's not in here remit today.
She introduced herself on the presentation as the new CEO - she clearly had the mandate.
What a load of rubbish. It was a challenging environment do some research on other companies trying to raise cash at the moment not easy. One pharmaceutical company recently couldn’t, so they decided to F off to a new exchange. It’s very hard to get cash at the moment from institutional investors.
So just your opinion then.
I think there might be a number of more important issues wouldn't you say?
Avacta Group plc (AIM: AVCT), a life sciences company developing innovative, targeted cancer treatments and powerful diagnostics, announces that Christina Coughlin, MD, PhD, has been appointed as the new Chief Executive Officer of Avacta, effective 1 May 2024.
Why would she immediately get involved in AS's problems when she isn't the CEO this morning.
We don't know why they had to raise at 50p - and nobody here currently has any real idea why - only guesswork. Until we know there will be lingering suspicions - which isn't good going forward.
You can be suspicious all you like, I will stick with the data and future potential, my advice is accept it or move on. 👍
Well I don't take advice from moron's so no problem there! LoL
They had to raise money urgently and on the basis of current facts 50p was the best they could do. Very simple. When I first invested here I wasn’t expecting to be looking at P2 clinical trials starting 1H25 and P3 starting heaven knows when. Who knows when Avacta Tx will be profitable.
As to those screaming for a TO, how would you feel about 50p per share plus 50p worth of shares in Novartis or whoever. I certainly wouldn’t be happy
Look while I agree with the sentiment with regards to no info on the 50p placing, in the capacity of CEO she only rocked up this morning........I'm sure it will be revealed before too long......whether it be a piece in Oncology monthly or an article by Giles in Shares are Us.......I think we should just hold our council for a little while and see what comes out.