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Just watched Directors Talk interview.
I do find this interviewer rather annoying with his staccato rapid "Carry On" intonation abd lack of derp questioning..
BUT - MUCH MUCH BETTER FROM ALLAN SYMS.
He's obviously got the message because the number of times he mentions "explaining to our shareholders" and "communication"...
ALLAN SYMS and TIM - if you're reading , one thing I wish you would explain with more clarity to a lay audience , is : " what exactly is a clinical trial and what does it entail in the context of what you're talking about. Specifics, times, retrospective nature? Sample size etc etc.
Thanks, and much better. More like what shareholders deserve, this last interview, although projected time-frames still vague.
Corepath are just a front end oncology lab who have accreditation to run LDTs, they’re not geared up to run operations in the US… don’t think that was ever the expectation, they’re just do the analysis of blood tests received from care providers - assume they will now purchase mAbs etc… from Cizzle Inc rather than UK entity??
So guessing from that it was thanks but no thanks from CorePath. Why?
The $1m at 15 months is a minimum guaranteed payment. It does not preclude more or earlier.
Personally “IF”the Test gets to market in North America and takes off / I’m not overly concerned about how Allan enters UK Market. It will. But a lot of “IF’s” to get through these next 12 Month. No slam dunk yet imo. If Phase 1 is successful and Antibodies are scaled up / then I’d be looking for Allan to buy some Shares to give Gravitas to today’s News. Before the MOU completes would be Nice.. “IF” it completes…
Remove the “IF” Allan please over the coming few Quarters. Thanks.
AS asked about plans for UK at 7mins 52 seconds. Answer took until 9 mins & 13 seconds with quote " for our strategy in China and putting those things in place in rest of Asia PAC and most importantly Europe and the UK " If that answers anything about plans for UK I fail to see how it did. So lab developed test will be in US over the coming months, with no revenue for at least 15 months. If all the clinical trials are a success and approved in US, we will still not have a UK test. The ambiguity of his answers is awe inspiring. We need an Investors Meet interview. We can agree on questions for him whether through Telegram group, of which I am not a member or by a poll on here. I am sure Neilin will help compose such a list of straightforward questions. Has he tried to approach ABDX or other UK Co to collaborate on a UK product launch ? So many of us are hoping the test is a success and are now relying on US HNWI and investors to fund it. Can Bill persuade enough of his contacts to fund his CIZ ? He will not tell us if he cannot.
My listening on first go appears to be the fund raise does not need to be used for its intended purpose that is going to funded from North America. However CIZ are developing other cancer tests and other formats of testing such as LFT, so cash will be used there. I really need to listen again, there was a lot of information in there.
Still unclear about the next 6/12 month Timeline regard Antibodies in 3 Formats / Clinical Trials / Accreditation and Finally Reimbursement. Personally I’d hope they’d have completed Clinical Trails by start of Q2 next year. But Allan will not reveal his Timeline which i do understand at the moment. Very delicate time re MOU.
Even though i do not like MOU’s / I am v hopeful with this one. Not least because i am very naive and blind faith but because of the envisaged Short Timeline re completion. Over the pond they wanna be first in on any Good thing and over here we are Toilet.
If they still Raise at 2p and the MOU completes as stated then that also would be beyond my expectation.
Yes, the raise is going ahead in my view. Plan now is CIZ Bio will pay the US trial costs, which presumably includes any reagents required. However, AS mentioned three different tests in the plans requiring three different assays, so I'm not clear which is which, but I'm not going to worry about that - that's Prof Dawn's job. The point is there is a plan, licensing is happening, scaling up is progressing, trials are planned, revenue is forecast, progress is being made.
If the MOU completes and no 2p Raise / then that would be beyond my expectation.
Is the 2p Raise going ahead or has it been cancelled ? The MOU is only a MOU. Nothing definite / so how can he cancel the 2p cash injection without News on the Antibodies in France ? The 2p was supposed to go through 11 April ? Are we now saying the scale up of Antibodies in Viva la Francais is a formality and how exactly are they getting paid for work rendered ?
I do not like MOU’s as i do not know what the conversion rate is but in small Companies a high percentage never complete.
That's not what I heard. I heard that the plan was to spend some of that raise on trials, but now don't need to , saving $500k. AS stating that we are now well cashed up.
Have i heard the first 2 mins wrong ? We now don’t go ahead with the £600k 2p Raise ???? But it’s only a MOU. And the Upscale hasn’t been confirmed yet on the antibodies which may take 6 month ??
Can someone confirm / put me right ??
Takes time for confidence to be restored after the placing debacle - people are realising that this isn't going to shoot to the stars any time soon and won't be worth the silly numbers that were being quoted. That said, the most recent developments to start to give some level of assurance that there's a path forming to commercialisation... and a some degree of certainty of a decent return on our investments in the medium term.
Will have a look at Directors Talk this morning.
Agree, think it could have taken it into the 3’s…hey ho. All seems positive, and a bit more clarification - still some areas not 100% clear but a massive improvement - extended interview and no background context around lung cancer prevalence etc…
In terms of next steps, we know they’ll announce by end of the month whether the MOU is progressing as they’ll need to stump up the $100k bond. Also suggests there’ll be an update re antibodies referenced to commercial launch, so that’ll help. Hopefully that will also reference that scaling is done and they can get the clinical test completed.
Curiously in terms of markets, called out rest of APAC, aside from China, alongside Europe/UK so we’ll see…
I think we know we aren’t as far forward as anticipated but conversely seems more robust / resilient, and he did keep pushing shareholder comms so hopefully that sees an improvement in terms of updates…
At least no funding needs anytime soon given £600k won’t be used for US, have $2,4mn from the US minimum if it gets signed, no dev costs for US (so working capital should be v modest going forward) and c £1mn in CDT shares…
Given the US licencing model sees minimum commits, dev costs covered and equity model, does give a benchmark to other markets re negotiations…
Surprised those has not recovered more, considering.
For us it is a shame, as I think Behnke deal alone would have kept the share price aloft quite nicely
Haven't seen it yet. Will have a watch.
Neil and those who are posted, thanks.
What's your feeling about time scales now, and is there any indication of other cancers and LFT test?
Ps fundraising and trading shareprice. Maybe the Belt and braces Neil mentioned or mates rates deal for a few to get in.
Regarding
"- US business would fund clinical trials, inferring they won’t have to spend the placing funds (seems strange they are so close together in timing, whether it was belt and braces, as needed to ensure funds in place if US deal didn’t happen) "
That suggests the placing wasn't actually required - so the share price was trashed on the placing and then they announce the deal saying they don't need the funds after all?!?
Could have avoided trashing the price if they'd simply waited a few days to confirm the deal.
Odd to say the least.
Very happy with that.
Much more concise and informative than previous interview.
Clearly addressed concerns of shareholders - information, process, additional antibody manufacture etc.
A clearer picture of where we are going, how we get there, and importantly the future of further markets/products.
Neil
Initial thoughts…
- Refers to fully funded in the US as if it’s a done deal
- US business would fund clinical trials, inferring they won’t have to spend the placing funds (seems strange they are so close together in timing, whether it was belt and braces, as needed to ensure funds in place if US deal didn’t happen) 🤷
- Referenced still working with Bio-Techne plus others, with different mAbs for different product formats. Announcement re mAbs being used for commercial launch due soon.
- More detail in this one, direct result of reaction to last weeks interview, and emphasis on improved comms.
- Still using Directors talk…
https://www.***************************/cizzle-biotechnology-usa-and-canada-agreement-major-milestone-video/4121150074
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