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They didn't have to raise money urgently - they raised too late - that created the urgency. It's called a self-inflicted injury - what AS became famous for.
"they raised too late". You've just answered your own question. Alan blamed difficult market conditions, Chris can blame Alan. It's irrelevant now. Some wanted heads to roll, one has gone, I'm sure there'll be another. Lingering on Alan's mistakes is pointless now he's gone.
Thing is PL - CC had been on bthe BoD for two years - she has to distance herself from this debacle - and do so overtly. If not, it will just follow her around - she needs to kitchen-sink it, then bury it - what most new CEOs do.
I want CC to be a great success for AVCT - I don't want her having to be an apologist for AS. However, she was on the BoD when the 50p raise was agreed - can't be denied. Use AS as a scapegoat by all means (he bloody well deserves it) - but she needs to come out of this clean and unblemished.
It's done. You're baying for blood in front of a carcass.
I dont want CC infected by the carcass of AS - she needs to publicly denounce and disown him - both for her good and that of AVCT.
The king is dead - long live the queen!
And the likelihood of that is zero.
However, if you want to attend the AGM with a pitch fork, good news - I have a sale on.
I'll take two of your finest - is it BOGOF? LoL
You really are a muppet notrex, you got what you wanted move on ffs.
Poor Ice - backed the wrong manager eh? LoL
I tend to analyse and get over things, you on the other hand want an answer you will not get. If you don’t trust Avacta moving forward. You can always sell up. 👋👋
'I tend to analyse and get over things...' - Wahahahaha
Not me that’s worried about the placing… all you do is go on about how Al screwed you and 50p this 50p that. Even now you want a different CEO to give you a personal apology. Move on mate otherwise you will still be mentioning this in a few years time all bitter and twisted.
Poor Ice - once a moron, always a moron eh? LoL
Poor Notrex regretting not selling out sooner and buying back locked in here until at least Q3 hahaha that’s the funny thing. Did you put your trading cash in at 160 odd….. 🤣🤣. Is that why you are so P155ED can’t afford to buy anymore.. feel sorry for you mate!
Like I said - once a moron, always a moron! LoL
Oh no it isn't.
Behind you
The question has been asked as to why the company had to raise at 50p. My take on this is that that they simply had no option because (probably) they had been warned by the auditors that the latest accounts were unlikely to get a clean report re going concern.
If this is the case then Gardiner simply has to go soonest as he should have foreseen this and warned the BOD well before action was eventually taken.
Events in the next few weeks will show whether this is a correct analysis.
As a separate point how on earth can a company with this size of activities justify £5.4m on ‘Central’ S, G & A costs? Unbelievable!
Isn't the fact that it's just really tough to raise money at present, especially in this sector and market at present? Events at C4X and RedX Pharma are both worth reading about at present. The latter had done really well - both by way of some really big deals and cash in the bank but the market just wasn't giving them the credit they felt the deserved, hence they are getting out and looking elsewhere for funding. Feel free to correct me but that's how I saw it. AVCT were most likely advised accordingly?
Yes the SG&A figure is difficult to understand.
Re: SG&A, it’s very easy to spend others money, someone ie. the CFO, needs to get this under control rather quickly otherwise you’ll hear a new CFO saying his focus is on cost control !
Them costs probably include the earnout on future revenue originally in the 2022 launch acquisition RNS capped at £13 million. Cash runaway is good, research and development costs can be adjusted accordingly, depending on deals done, and we have a few data points coming up that will change sentiment. Oncology drugs are worth billions, just need to prove they are safe and have decent efficacy. The pack of traders here will try confuse things. DYOR and don’t get fooled out by their hypothetical nonsense around timelines, Dr smith or cash runaway.