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Did anyone follow Redx Pharma? Very similar story...
FYI Redx Pharma went into administration over a loan given by Liverpool City Council. Share price plummeted to about 6p. They are now sitting at about 65p
Bit more info please Pharma if you'd be so king. Who, what timeframe and what happened to original shareholders.
Looking for any glimmer of hope.
I think it took 6 months or so for the administrators to raise the cash and give back responsibility to the board. A bit of a reshake, restructure and they are back in the game. Shareholders who braced the lows are still there now
Redx Pharma had MUCH worse than Duncan in charge
Thanks, will look in to but for now its pizza night, will have a beer and watch a film with family while I decide how to...1, not tell wife, 2, tell wife new kitchen might take a little long, 3, decide which kid to sell.
Good luck all
Hmm
Just lost 75% of my personal capital. £88,k
Of course it is my bad and my responsibility . Fully.
But life will now be severely less than it was ( no income for specific health reasons) Not a sob story!! Don’t need to be attacked by the callous.My responsibility!!
So I don’t care if I wait 6 months or 2 years….a glimmer of hope is better than nothing. Life has changed overnight.
GLA others
So sorry to hear that crl123.
Very sorry to hear of your loss crl, that's very, very tough. I know there are others on here that were heavily invested and must be feeling sick tonight. I bought a few back myself recently, before the Q&A and am a little stung myself but in particular I feel for those who may have got themselves into a financial mess.
I'm sure all will turn out okay, money doesn't bring happiness in the end of the day - stay strong!
LT REDX Investor through the bad times of the administration; only a small position but for all 4d investors hope there could be a similar result
Sorry to hear that ctrl123, lets hope they can salvage the company somehow.
Its a case if the BoD can raise the £14million or come to some arrangement with OF - depends then how much further funding they require going forward.
Thanks Finite - what was the result of the Redx Administration - did shareholders come out of it owning the same amount of shares pre Administration ? That would certainly give me a little hope I think
Thanks obone
In shock right now. Not young. Limited scope for income. ( 2 operations in July ffs) I went int 4D a year ago after much research. Life ahead now so different. My responsibility. Thanks.
Yes your responsibility crl....but still...full commiserations. I saw DDDD go up 5 fold and it seemed to be in good health. Then things changed....directors passed away etc....and things just collapsed. People came in without the commitment or understanding of the company and they did a terrible deal. Who saw this coming? A few insiders perhaps but this looked to be the best of the small bio bunch. The only clue was the falling share price.
I went through that process with REDX. It felt when Liverpool council called in the loan that it was all over and it did for a good few months after. The administrators sold the company's lead drug candidate to Loxo Oncology for $40M. Solved all the financial problems and restored the company. REDX restarted the rest of their pipeline and are now looking very good indeed.
Key to this was bringing in Lisa Anson as the new CEO who is first class. She was able to bring in other big backers.
It was a horrible and troubling time to be a holder and I don't know how often that sort of thing happens but dddd has many more assets than REDX did at the time. MRX0518 on it's own is way more advanced than the BTK inhibitor sold to Loxo. I'm sure it's already worth $100m + to Merck. So, hopefully the administrators will be similarly on the ball and be able to breath life back into DDDD by selling an asset.
crl123.
Don't worry as long as you have life and health. There is always a level or risk with any investment. We never know the full story behind any company. Try and move and stay positive.
Friday evening admin - probably timed for after the staff have left for the weekend. I'm sure administrators will be itemising everything over the weekend.
@Snodgrass, REDX holders came out with all their shares intact. There was a lot of dilution when the new CEO brought in new backers but despite that when it restarted trading it did multiples higher than when it closed.
Thanks Bass - definitely gives me some hope then - hopefully these Administrators will be looking follow a similar path - thanks again
Might have mispoken there. Checked the chart. Opened 1.5x to 2x.
No idea what will happen here unfortunately. Can only say what happened there.
Crl, let's keep the faith, your not alone and we dont know it's a complete loss. I posted yesterday that even if 4d was done surely or R&D has to be worth more than the Mcap, many multiples.
How much is Duncan down?
Be strong Crl123 (I have lost more than you here), and be strong everyone.
As long as we have our health, family and friends. Talk to your friend and family.
We can make money again somewhere else, please do not go to rub a bank ok?
Take easy, take care guys. X
Duncan has 9.5m shares , just under 5.3% of the company.
I think the new FD must take some of the blame as well. He's going to struggle to get another Finance Director job anywhere.
For what its worth I've had a look at the Administrators (Interpath's) website, they do seem very geared up for restructuring/turnarounds rather than standard Administrations - I can but hope ................
Thanks for all support guys. Learn thanx. And rest of you.
Very little £ leftnow and bills will be a challenge. Health is most important but I have a severe health issue s it’s hard. Was teacher 42 years and had to retire.
But will find something.
I will work from the premise that this os now gone. This is my final shaft. Lost £100k to Pog in 2014 and £150k to an oilie in 2016. .Now £85k here **** sharepicker.
Health is biggest impediment unfort.
Learn..sorry you lost so much. I have very little left hope you have more.
Enough whinging. I would not trust this company but will look at any glimmer. Trinity had assets frozen by Citibank 2016. Invoked protective clause in Trinidad and restructuredin 6 months.I would like to know what our govt. offers ( apart from parties)
See what next week brings.
Maybevit’s all gone. Maybewel get a fiver back