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Don't worry notrex, CC will have her own loyal support in place soon enough - or she won't be effective as CEO.
Does it do any good to rake up the details of that disastrously priced placing when those responsible, AS and TG*, have gone? Doing so wouldn't change anything as changes (will) have been made already. It could only be for the morbid curiosity of people not privy to what still might be confidential or commercially sensitive.
* Assumming TG's days can be counted on digits.
Hi BV: Yes - I'm sure she will indeed inculcate loyalty in others - likely she has already to some extent. I guess I'm likely to have to settle for the CFO getting the heave-ho - but if he's still here this time next month I'll be back on the case. He's an utter disaster who needs to go asap - had AS bitten that bullet we might not be where we are now.
This is currently a loss making business. A change in strategy is needed which I hope the change in CEO indicates. On the to do list I’d like to see them divest the diagnostic business and use the funds to pay off the bond plus get some deals in place to become cash generative - you can’t be too picky while we are bleeding cash.
Still selling pitch forks for the AGM notrex. I'll scratch out Alan and get Tony on there for you. I would imagine that CC knows that there will be some awkward questions at the AGM if Tony is still there.
They was shafter, or we was shafted. SoleBoy gave some insight into what likely happened last night.
Something that Turner Pope mentioned when they called me up was that AS and TP had a special relationship going a long way back. I really don't know what to make of that - special yes, but not in a good way.
AS did the first webinar with TP (jointly with Vox Markets) back in June 2020. Worth a listen, at least to the start, to hear barrow boy James Pope.
Sounds like the CEO is asking for 6 weeks to get her ducks in a row. I don’t expect much before then so sold out with the intention of buying back in.
It’s a positive step that AS has been shown the door, but the company is still in a highly precarious situation.
I’m concerned the company won’t be able to generate sufficient funding to progress the platform to a point where license deals are forthcoming. I think Back to that (almost comical, in hindsight) article from AS in a Sunday paper re UK institutions being incapable of/unwilling to invest in UK biotechs, I fail to see where the funding will come from. If another placing was to be successful, it’d be at such a low price that dilution would be monumental.
Biotechs are loss making businesses, they burn through cash rapidly; CC is talking about a pipeline now, rather than one or two priority products, and the cost to develop this pipeline will be huge. I can’t see where the funding for this development will come from. I’ve stated this before but licensing deals and buyouts aren’t as common as many people on here like to suggest.
I think the 25% ownership of Affyxell and potential IPO could be the saving grace here, but I don’t think timelines are in our favour. Divesting the Dx side of the business - which is loss making - won’t provide even remotely sufficient funding.
I’m struggling to see how big pharma or vulture funds don’t pick Precision up for pennies on the pound late next year or early the following year.
I don’t think CC has the commercial expertise, experience or ruthlessness required to prevent this. As far as I’m concerned, the number one risk here is now funding (thanks to AS’ misguided leadership), not the science - and we have a scientist at the helm, not a finance or business professional.
If you're not happy Rory, sell up.
Is Rory not allowed to give an opinion ? Perhaps if you listened you might learn something
Rory, have you seen Simon Bennett’s CV? Far more impressive than mine!
I also think that the BoD will be strengthened in the not too distant future
“I’m concerned the company won’t be able to generate sufficient funding to progress the platform to a point where license deals are forthcoming.”
We have strengthened our negotiating position with cash runaway, which will only get stronger as data emerges, we have also hired a commercial powerhouse in Dec to do deals, new and ongoing discussions are taking place as per the presentation yesterday. Everything is on the table suggests they will partner lead assets and pivot to developing more toxic warheads. I expect deals done at the end of the 2w period imo or even before as current data proves commercial proof of concept of platform. It’s clear a more commercial focus is being put into place. Not much point having a wonderful science platform if you can’t monetise it. Sentiment might be destroyed at the moment however AIM has a very short memory when greed is involved and funding won’t be a problem imo. We are dealing with Billion dollar drugs on approval, people get greedy.
I think we can now see why Smith has gone - the awful move into Diagnostics.
These acquisitions cost nearly £32m in cash with more to pay on earn outs. Yet in the results just announced the segment has shown a loss of £13,448,000 after impairment (!!) of £5,225,000. Isn’t that just truly diabolical. After all the bullxxxt we were given they now want out and who is likely to buy at anywhere near the cost AV paid?
The current chairman and FD have to follow Smith out of the door since they can’t avoid responsibility for this shambles.
Sheppy, I wasn't surprised at all to see you jumping on the back of Rory's lengthy, perfectly fair and 'considered' post, largely because - looking at your last 20 posts, you have not offered one single substantive or constructive thought. Virtually every one of your posts boils down to one or two lines (max - feel free to check) of nothing other than sniping - an easy option for anyone who can do little more than think on an empty head. I am not a censor here as I am not actually invested at present but I have followed Avacta for several years. Personally, the only justification that I can see for your existence here is to ensure that full advantage of the filter box is taken.
By “Commercial powerhouse”, I presume you mean Simon Bennett?
You can throw around all the superlatives you’d like, but one man in a relatively unknown, UK-based, small-cap is not about to commercialise Precision single handedly.
Precision can’t be monetised as it isn’t approved for use. It either needs to be approved, or developed to a point where it looks highly likely to be approved, before it can be monetised. The company has a long way to go before it gets to this point; the 2-weekly dosing trial is still in its early stages - and the primary aim of this study is to establish a safe dose/RP2D.
By the time that milestone is reached, and findings shared, the company will be in a very poor financial position (once again) and potential suitors will exploit this; offering pennies on the pound for the IP or waiting for the company to slip into administration before picking it up for peanuts.
It’s a shame as the IP seems highly promising, but the company is plagued by gross incompetence on the commercial side.
Rory
Dangerous to say anything rational that upsets the Pom Pom girls on here
Heard enough from you Rory. Clueless so in the bin you go.
Rory, it entirely hinges on the quality of those results between now and the next funding round.
If you think like that the company is clearly not for you. I would sell up tbh. However i do love a good hypothetical scenario. Avacta clearly don’t think the platform can’t be monetised, they didn’t hire Simon to do FA and it’s a fact new and existing discussions are on going. I suppose we will need to see what happens over the next 12 months.
So, let’s say the results are stellar.
What results are you expecting? Ie. What do you expect the results to demonstrate?
What do you expect to happen on the back of those results? And to what timescales?
You are Thorn alt account so many question marks, wow should have spotted it earlier. 🤣🤣👋👋
Will we still get Director / PDMR RNSs if AS sells or buys AVCT stock? I also wouldn't be surprised if there's a final Paul Hill interview with AS where AS puts his side of the story (all in due course rather than in hours or days).
D-Geeman, possible NDA and severance package should avoid that?