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Selling, general and administrative expenses
Administrative expenses have increased during the year to £16.86 million (2022: £11.23 million). This reflects a full year of Launch Diagnostics, £6.89 million, and the acquisition of Coris, £1.13 million.
Not arguing with you tonight read the RNS.
My posts aren’t designed for the day to day trading movement of Avacta. That post below was the perfect example of BS assumptions trying to confuse things. Totally ignoring the fact our BD in commercial discussions and they can now leverage deals based on current data. Fully funded as per RNS and costs can be adjusted with other programs not necessarily AVA6000. Thorn loves smoke and mirrors, not even invested yet has the audacity to tell me to stop posting I will politely decline. 😉👍
If your posts were based on facts ICE then fair enough.
But just saying it works, it'll get signed off by the FDA and we'll all be rich (at some ill defined point in the future) isn't fact based, it's your opinion.
My posts are based on information taken from the RNS’s. The evidence so far suggests it works argue against that scientifically if you want! And the FDA will make a decision, I think it will be good based on the data. Everything I say is based on my opinion backed up by factual assumptions from the data in the RNS. You on the other hand through out statements like the below.
“They raised just about enough to keep the lights on”
Today’s RNS suggests otherwise just calling out your BS.
🤣🤣 another example of hypotheticals without any substance to back it up. Check the RNS statement below 👇
The fundraise completed post-period end in March 2024 amounting to £31.1 million (gross proceeds) from new and existing institutional and private shareholders has enabled us to significantly extend the Group's cash runway, creating a strong negotiating position in future commercial discussions and providing the funds to progress AVA6000 into Phase 2 clinical trials, subject to FDA approval.
Keep the lights on 🤣🤣🤦♂️🤦♂️. You need to change your tag here constantly found out. It’s embarrassing.
Sitting comfortably on your bar stool are we Thorn ?
Tornoson your master will be proud with your efforts
But thornogson your still a 🤡
'significantly extend' and 'into Phase 2' (not complete then?)
Good to see that CC is starting off with euphemistic language too.
Can you tell me what 'significantly extend' means ICE because it's talk like this and the easy assumptions that follow that led to the recent 50p raise.
I was similarly picky about their language early on in the Phase 1 trial and got a fair amount of abuse for it too.
And yet here we are all those months (years!) later at 45p and falling.
Great to see you are ignoring the RNS and just ranting about more hypothetical BS. Totally proved my point earlier. 💯💯👍👍
No I'm asking questions and not spouting assumptions and prejudices dressed as facts knot.
That's the job of the stool dwellers.
Putting a ? mark after everything is classic smoke and mirror fud spreading, thanks for the discussion tonight though. Totally proved all my points. So greatly appreciated. 😊😊 keep the fud up, it’s highly entertaining. Especially when you get owned by the RNS’s you obviously don’t bother to read. 🥱😝👍
Yep, Thorn has zero credibility. His posts can be safely ignored.
He should read up more and post less.
Like just not answering questions such as exactly how long is a 'significantly extended' cash runway ICE?
Or what does 'into Phase 2' mean. If they're saying it'll start in late 2024 I guess it means until: late 2024?
So 9 months?
That'd fit with the likely timeframe to spend the cash raised recently although as I said the Phase 2 will cost considerably more as it'll need lots more patients and in the USA too. So probably they'd like to raise the funds to complete this before they start, indeed It might be a requirement of receiving the FDA OK?
It'll be an interesting 6 months.
Potash!
I actually agree with Notrex
All the board is culpable and I also think the CFO is more than most. Reasons for raising at 50p need to be explained. Otherwise there is not trust from investors. Why were we told “don’t worry about funding”and then a raise at 50p. Why were we told no information would be supplied re this matter until after 40 days and still no information. Does the board think that it is ok for PI to be lied to and deceived?
Just because time has passed doesn’t mean PI’s have forgotten this matter.
Gosushi get over it its 6 week ago focus on the future either buy hold or sell
I think now AS has fallen on his sword that a new broom will sweep everything out into the open and we will be informed of why /how funding details perhaps not into finite detail as this could be counter productive but confident that AS Will get his big paycheck for services given.
my worry is that i now think that the days of suggesting £10 plus a share are long gone ,but definetly multiples of current mcap may be attainable in not to long a time period
Seems like my view that CC neds to get the skeletons out of the cupboard and have a clean sweep has much support? The first item is why a 50p placing. If she doesn't get this out in the open she'll just be carrying on where AS left off - and lofty words about 'communication' will be solely that. I repeat - I want her to be the great success I know she can be - but she needs to clear out the dead wood / dross on the BoD - CFO first - then 'kitchen-sink' the dirty washing. The clock is now ticking in this regard - her honeymoon period will not last long.
What detail do you want? They went to the market and said they wanted to raise. The market said certainly sir, please bend over and relax, this won’t hurt a bit. The detail is in the video with Paul Hill, the funds wouldn’t stump up without that level of discount and because Tony and Alan don’t know how calendars work it was left too late to do anything else.
It’s done. The money is in the bank. We were told yesterday it should see us through to 2026 - although that assumes that Tony can add up, so maybe it’ll only last until ‘mid summer’.. They have at least a year to do a deal or extract cash from Dx. The huge potential beyond that is still there.
Disagree PL - I don't need or want detail - but there has to be an acknowledgement (which there most notably hasn't been from anyone) that this was a debacle of their own making. If not - it just becomes a festering sore. Get it in the open - then bury it and move on - best bury the CFO at the same time.
You’ve had all the acknowledgment you’re going to get re the placing with the CEO walking the plank , the CFO is toast …. , he’d be already gone if they had a ready made replacement for him , fact is they don’t , I’d guess the next CFO has no doubt been tapped up and is currently watering his / her roses !
By the time the AGM comes around the landscape will look decidedly different !
it’s in the open. it was a **** show. alan has gone, tony will go. it’s only a festering sore in your head. the ceo will be looking forward not back and slating alan and acknowledging he made bad decisions does her no good. yesterday’s waffalesque answer (a final tribute, it was like he was in the room…. maybe he wrote the script as it was scripted) showed that it’s not going to happen. move on. if you can’t, meh, stew on it forever.
It's never easy to oust a CEO and founder of a business and one who has likely run the co like a private business for too long. Chris seems to have a different view on how to move forwards whereas AS wanted to IND 3996 whereas CC seems to want to look at the more toxic newer drugs which to me makes sense. Most large pharma are going for ADCs so if we're able to improve upon them so the next generation then this will surely accelerate interest rather than applying our amazing tech to older albeit better known molecules. Now the pathfinder, 6000, has shown the platform works it's time to apply to the newer therapies and make them even better. No doubt an awful few months for holders but surely a low point and upwards fromhere.
Worth remembering we still had several patients taking drug in the 3 week study and data will be presented so surely the results will improve and even more PFS and patients lives extended without the awful side effects. News on 2 weekly soon too and hopefully some BOD appointments too
AS has indeed gone - and we are left to draw inferences about why he has gone - but the reason has not been overtly spoken or written anywhere. If I'm wrong - please point me to the RNS/interview or whatever where it was? I want CC to show early steel by ruthlessly cutting herself from the past - I don't want to see inappropriate loyalty to previous colleagues on display - this is a multi-million pound business - not the local science club (that AS seemed to treat it as).
She will enjoy a short honeymoon period - she needs to use it effectively whilst it's still there.
Notrex I can't recall ever seeing a single RNS explaining why a CEO has gone. The reasons here are obvious. A change in strategy, mismanaged funding and just simply being there so long.
Christina seems to be a seriously impressive human being. Doesn't mean she will be a great CEO but it's a good start