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I do not know if I have ever lost 50% so quickly .
The ones I had and Hardman & co did not like have been doing well since 1st March just gone lol.
Fund Managers, share tipsters and Analyst , no better then my gambles .
News.
Destiny Pharma PLC, down 29% at 15.30p, 12-month range 13.20p-84.00p. The biotechnology company reports loss from operations of GBP6.7 million in 2023, narrowed from GBP7.8 million a year earlier. Pretax loss narrows to GBP6.4 million from GBP7.7 million. "During 2023 we intensified partnering activities for our lead asset, XF-73 nasal, and completed US market analysis that confirmed the significant market opportunity for this asset of up to $1 billion in the US alone. We also continued to progress the scale-up manufacture required for Phase 3 clinical studies and commercialisation. Our target remains progressing XF-73 nasal into Phase 3 clinical studies as quickly as possible," says Chief Financial Officer Shaun Claydon.
Re 75% required to delist, according to website major shareholders including directors have less than 40% so it would appear a major barrier.
Personally I wouldn't agree but may not stop them from trying.
When companies take a step like that they have the backing of most shareholders and if not accepted BOD can make things very dificult going forward.
Anyway, let's see what is going on.
Marc and why would 75% of shareholders agree to de-listing?
TIA
Will follow the step of others lately.
ETX, C4DX, BYOT
And with an American CEO..
Step up to the plate CT &/or Sir Nigel and explain the recent SP sharp falls.
The Price/book (mrq) was 2.12 which was on the high side .
Not sure the fundamentals I posted from this site on 23rd March below mean much.
Top of the table 22% fall today to all time low of 20.3p.
27th July 2020 last all time low at 31p
So much for Hardman & co picks.
From this site
Shares in Issue 95.27m
Market Cap. £29.53m
Market Size 1,500
PE Ratio -3.33423
Earnings -9.2975
Dividend 0.00
Yield 0.00%
The NIAID study was a pure safety study not a safety and efficacy study (they do both types), so you would not expect any efficacy data to be released since it was not part of the study. Expecting a US Gov't agency like NIAID to release it regardless is very optmistic and you can infer nothing from its absence other than that is how the system works.
Re-running p2 for M3 is/would be very different in delay terms from the pre announced reformulation and simple dissolution equivalence test for p3, and is the main reason for the the SP fall.
I'm well aware that date was released in July but in my post I was specifically drawing attention to the fact that there was no efficacy data released following the NIAID study.
There's a video presentation in which the ex CEO Neil Clark mentions that they are going to re formulate M3. When I have time I will find it and post it. In between times have a look at page 10 in this presentation from March 2023:
https://destinypharma.com//wp-content/uploads/2023/03/Destiny-Pharma-Non-Confidential-March-2023.pdf
Data on the efficacy of XF-73 Dermal against MRSA was in fact released in July.
https://www.destinypharma.com/2023/07/31/publication-of-new-data-for-xf-73/
While the possibility of re-running p2 for M3 by Sebela was hardly "old news" AFAIK.
J Waits is a real p n d scammer be careful. Pumps as he dumps.
I think that we all believed in the story, otherwise why buy ?
The appointments of Rudd and Tovey were the catalysts that got me on board, complementing what appears to be compelling science in both M3 and the lead product, the XF- 73 platform. For a tiny bio pharma, with a market cap of under £30 million at the time, and two phase 3 ready products , it seemed worth the risk in these savage market times (possibly unprecedented) for small caps.
However, I did not blindly invest and like you I questioned to myself why a deal on XF-73 was taking so long.
This worry was reinforced when Chris Tovey attended the San Francisco Biotech showcase in January and he is due to go to the Bio Europe conference later this month. Perhaps I'm reading too much into it but hardly the actions of a CEO about to pen a deal with big pharma. And of course it's always a concern when there appears to be a constant seller of the shares, although admittedly rather than a large holder reducing, it could just be private investor's churn, particularly bearing in mind the volume restrictions often placed by the market makers in the stock.
All that said, the share price decline following the rns of 31st January, with good news for XF-73 dermal and a delay with M3. was brutal. The latter was old news, the likelihood already flagged up by the company, but this clearly took many by surprise and they took both flight and fright.
The concern I have about the rns is not the news contained within it but rather what wasn't disclosed. Namely XF-73 dermal produced positive data from the pre clinical safety study, in this respect it passed with flying colours.
But I ask myself, why no mention of the efficacy of the product against Staphylococcus aureas. Even though this wasn't the main focus of the study, I'd be surprised if they did not have available data on this.
I still want to believe the story but given the above, I currently sit on the sidelines, awaiting further news from the Company, upon which I will make a decision one way or the other.
Hopefully you see this as a learning rather than blindly shooting peoples opinions down that differ from yours. Sajyboy and you are very similar, the only difference is he has gone away licking his wounds and realised what a mistake this has been. I wanted out and was hoping to sell on an uplift on the day of news which didn’t occur, glad I sold on the day though. You still thinking this will be £2? I won’t ask how you get to this figure as I didn’t have meaningful response the last time I asked.
You was calling 25% uplift from 75p if I remember correctly….
It’s not about not agreeing I just CBA to entertain BS!
Brooko19 the problem you have is that you don’t like someone who has a different opinion to yourself. When a comment is made which doesn’t fit your narrative you call them a troll or as I can remember you called me a clown when I questioned the company and its history, that was when the price was at 75p. I remember at the same time you were calling this at £2 based on imminent news back in December, now who’s looking the clown. I asked you what you based this £2 valuation on and didn’t receive a particularly constructive response. Even though when you posted this £2 target you received numerous likes. I rest my case.
Bought in today for a lower then first planed *31p another new share , and it is in the lent few weeks.
Chris Tovey was on the board with GWP.
Turned out one of my better share gambles but was once down about 50% if memory is serving me correctly.
Leaving AIM for Nasdaq a great move for holders .
Had no idea who JW was ...a Justin Waite VOX markets , and part of the Winnifrith type associates .
Chris Tovey was with GWP
JW old trick, tell everyone it’s a dropportunity whilst you off load into the buying
Thanks for the warning I might just let him finish selling first, no point buying if someone is persistently selling, the entry level is only getting more attractive with every sale
From trades it looks like the seller is still offloading with a few trades of approx £10k, just like the past few weeks. Provides a good opportunity to buy.
I’m topping up through my SIPP on a monthly basis but that’s just me
I see a massive value disconnect here
Charles Archer is another one that works on a similar basis to JW. I’ve been caught out a few times with he’s recommendations. Anyway, back to topic, I didn’t think it would drop to these levels again, tempted to top up bit as another poster suggested there might be a better entry point to within the next couple of months, if something is signed before I buy so be it. CT’s CV is certainly impressive I can’t see him joining unless the potential was there.
GLA, keep up the good work with genuine advice and information.
JW talks his own book and pumps as he sells
He did the same with XP factory, LLAI, POLX, SO4
To name a few
However, i also note that there wasn’t a TR1 when he sold his XP factory?
In any event: he’s just like all the other podcast pumpers
Follow them into a trade by all means but make sure you put a stop loss in