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The Avacta CEO was very clear, back in Oct they had a plan which was fully funded with the plan at the time. Then, Covid came along and the plan changed which required more funding. But the plan change was for positive reasons, not negative ones. They needed funding to Scale-up the Diagnostics Business and take advantage of the Covid opportunity and it then made sense at that stage to secure additional funding to accelerate Expansion of Pipeline of Differentiated Cancer Therapies. They've done that now and Avacta is fully funded until 2023. The opportunity that was Covid came along. It also gave Avacta the opportunity to add a significant strategic US investor in Ruane who manages the Sequoia Fund. So in summary
Why did the placing happen?
Rapid Scale-up of Diagnostics Business, £10 million:
· Working capital for the COVID-19 testing opportunity
· Expansion of in-house diagnostics product development capabilities including facilities, capital equipment; scientific, commercial and senior leadership teams
· Acceleration of broader diagnostics product pipeline and commercial partnerships
Accelerated Expansion of Pipeline of Differentiated Cancer Therapies, £38 million:
· Rapidly growing the pre|CISION™ pre-clinical pipeline and delivering pre-clinical packages for several pro-drugs (pre|CISION™ velcade, paclitaxel and oxaliplatin).
· Expanding the Affimer® immunotherapy pipeline (PDL1-TGFß inhibitor and PDL1-cytokine bispecifics).
· IND/CTA filings for one or more Affimer immunotherapies (TMAC drug conjugate (PDL1-IDASH) or first bispecific candidate) and one or more pre|CISION pro-drugs.
· Obtain first-in-human data for the Affimer® platform.
· UK phase I clinical trial for first pre|CISION™ chemotherapy AVA6000 pro-doxorubicin covered by current cash reserves, with the proceeds of the Fundraise being used to fund IND filing AVA6000.
I unfiltered always losing, checked out what he's been up to and agree phantom...reported and now filtered again.
Bear in mind too that HM Govt have already stated that they are working with Avacta on this. Hence, I believe that Avacta are sitting in the driving seat and very well positioned to take huge commercial advantage. In lieu of a vaccine, HM Govt need a stronger holding position than they have at the moment. The speed, accuracy and user-appeal of Avacta’s BAMS & LFT tests (and possibly waste water tests too) will allow the worlds to keep Covid 19 at bay until a vaccine is produced & rolled out to billions of people ( which will take a very long time)
Report for lies and misinformation
Be honest indeed... why are you still here then? Altruism?
Of course my position changed. Made no secret of the fact I was bullish initially. We had the dodgy Mr Boohoo deal and placing after that. In fact if you look closely you'll see the exact moment my position changed. It was that rotten deal with Medusa and the placing Alastair said WOULD DEFINITELY NOT HAPPEN. Red flags galore from May onwards and I stated my position.
did you have to post that ****e??? I've filtered him for that reason. do it again and i'll filter you MR.B
Alwayswinning - your posts are becoming repetitive and boring. Let’s remind everyone of what you’ve posted. Your games are crystal clear mate - give it a rest ffs.
RE: Saliva Tests02 May 2020
I think Avacta will definitely lead the way and scoop up an incredible share of the market in the process. Antibody tests will not outstrip the sale of antigen tests IMO. The only accurate antibody test is via a blood sample. Saliva tests for antibodies would be very inaccurate. Therefore given the speed, non-invasive nature and accuracy of a saliva based antigen test, this is going to potentially be one of the most incredible stories on AIM over the coming months.
The Affirma platform should IMO dominate the entire space fairly soon. Avacta will have few overheads, and no manufacturing or distribution concerns. Just a case of them raking in the royalties from their superior platform.
I'm also encouraged to see them broadening out much further. Yesterdays RNS shows they are not just looking to dominate one aspect of the testing space but almost every area of it and the Affirma platform gives them every opportunity to do that. I can seriously see Avacta becoming a diagnostic superpower over the coming months.
Companies with this much potential are valued in the multiple billions on the NASDAQ. IMO people will cotton on soon enough. Save for any catastrophes, this could be over a billion much much sooner than people think.
Compare Avacta to NCYT. NCYT has traded around 500m. AVCT is a much more solid company with more strings to it's bow than NCYT will ever have. At this moment in time NCYT is dominating the testing space and we must take that into account. We are literally weeks away from AVCT getting to the stage where it's product is being produced and rolled out infinitely more than NCYT's product is. It all hinges on the results and confirmation that AVCT's test is the real deal and we're off to the races. Given all of that you would expect AVCT to be trading at many multiples of NCYT once it is up to speed.
Looks Good...........14 Apr 2020 13:21
.............This definitely feels reminiscent of NCYT in the early days. NCYT went from 8p to 40p in short order and that was only the beginning. AVCT has only gone from 15p to 50p yet. AVCT is now the tip of the spear in this space, similar to NCYT in the early days. CEO getting lots of attention on the TV here and in the US. It's so similar in so many way, except AVCT has much more going for it that could make it a multi-billion pound company without this test, unlike NCYT which is slightly more of a one trick pony. I'm convinced this stock will follow the same course as NCYT over the next 4-8 weeks. This test is likely to be the most sought after IMO.
alwayswinning- so predictable in your daily de-ramps/nonsense talking. It's clear and obvious to everybody what you're up to, give it a rest...
Relisten to Fauci speak last night:
"We had a task force meeting yesterday and we heard that the kind of test from the commercial sector that would be, readily available, is really very, very close right now, very close... It is very likely we will have that within the next week or so"
Avacta and SONA will take the market, and both won't be able to meet the demand that is required.
As always, patience is required, just look at other stocks who are having a big rerate at the moment who are still undervalued, TILS, ORPH etc. Avacta will have its day, just hold tight, and top up on the dips!
GLA.
Just in time for the third wave then or the fourth or the fifth........
Never said covid wouldn't be around for a long time. I just stated the FACT that every day the test isn't on the market, the revenue projections touted by Myles become more and more unrealistic as other companies gobble up contracts and offer similar and/or other solutions. No doubt there will be private companies working on tests similar to this quietly behind the scenes that we haven't even heard of yet but will when they're on the market over the coming weeks and months. Companies like this have to make noise to get the SP up to have mega placings though unfortunately.
As far as news on other fronts goes Alastair barely seems to mention it any more, other than to say "things are progressing", which means nothing. If there is meaningful news that one of the projects is going to generate revenue now for a change then it could spike the price from here temporarily of course, but if it's another RNS like yesterday suggesting he's more interested in fondling turds, then I don't think the market will be impressed.
.......that is hilarious!
If you cant see any potential then fine, put your money somewhere else. You are doing the equivalent of trying to convince a load of West Ham fans to support Millwall! It's not going to happen! We dont only think, we know Covid will be with us for a long time yet! (End of next year at the very earliest) give it up!
The second wave will begin before that, and governments will want contracts long before that in place as they prepare. It will be too late to make the mega bucks projected by Myles et al by then.
Mmm - we are in July now. I'm thinking Sept availability.
The likelihood of competition has always been there. Of course the competition would need to make a test that can compete in terms of performance. The fact that competition also hadn't launched (Indian test doesn't look good enough) shows it isn't that easy even with tech that is years old. Do you have any info on competition progress - I'm not aware of any
I disagree entirely.
I think a lot will be happening in parallel if the test is as good as we hope.
Plus the attention on such a product would surely help fast track the approvals... just think of trump finding out how accurate, cheap and reliable our test is, he would probably stamp his approval without clinical trials ;-)
You also forget news coming on many other fronts to bolster also.
Come on man, get real!
Just in time for the Autumn / Winter second wave then if your prediction is correct - which I don't think it is.
Here is 20p. Don't spend it all at once.
..................Assuming all goes well, can anyone here really see this test being on the market before October? I certainly can't. If the wider market comes to appreciate that, this will be heading well under 100p IMO.
Once the trials actually start proper you'll be looking at a few months minimum IMO before the results are back. Most likely time this hits the market will be between mid-October to late November IMO. if all goes well.
To justify the market cap it needed to be on the market mid summer as they always imlied. Feels like early Autumn may end up being missed to at the current rate. Four months behind the late July date that some were throwing around given the mid-summer date Alastair mentioned originally I guess is a massive delay to original expectations. The period between now and October would be the most profitable to any company getting their test to market. After that the potential tails off dramatically IMO as other therapeutics are released and more diagnostics companies enter the space.
The point being, the billions mcap that Myles et al suggested is growing increasingly unrealistic with each day that goes by. If you have to rely on the cancer treatment well that's a cop out for making a shzitty investment choice because that is many years away.