Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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All depends on the Stalicla deal. If it goes into phase 2 and EVG get the $5.5m milestone payments they have said they will get then things will look up. But god knows what is going on with that.
Agreed £51k is laughable but hardly surprising when you can buy on the open market cheaper than the offer.
On the plus side, "Dr Susan Foden (Chair), Dr Huw Jones (CEO) and Toni Hänninen (CFO) have agreed to subscribe for, in aggregate, 5,600,000 new Ordinary Shares (the "Subscription Shares") at the Issue Price (the "Subscription"). In addition to the Subscription as noted above, certain other PDMRs including Dr Helen Kuhlman (CBO) have subscribed for 3,000,000 new Ordinary Shares in aggregate via the Placing", so they have some faith.
Also, they have managed to place 79,400,000 shares to buy Chronos, presuming some due diligence was completed prior to agreeing to the deal they must also have faith in EVG.
I'm thinking of averaging down at this price, 20% below the placing.
Time will tell if this is sensible or not....
0.72p to sell now. The likes of Radar, Kingalf and I got a lot of criticism and called trolls for our negativity of this share. I hope some people will at least recognise we were just giving our realistic thoughts on the share. We’ve had a share dilution at 1p which we predicted, I seem to remember being told I was talking nonsense for that.
Showjumper, you were brave to buy back in . My hope is that you don't get stuck on the high jump you have taken, good luck.
Yes it really is embarrassing, shows just how little confidence there is about Evgen. It really has been a disaster these last 18 months. Why are they not updating us about the Stalicla deal and payment dispute? It’s 8 weeks now, it’s ridiculous how they treat shareholders, they see shareholders as something brown that they’ve trodden in. Shareholders are an inconvenience to them that is for sure.
The share sale raised £51k.....
Laughably small amount of money imo. Cannot see EVG as being a going concern anymore. Open to listening to counter arguments.
I have bought back in. Lucky that I exited before and only lost fees but at under 1p I will sit on the couple of thousand pounds worth that I have purchased. I may add after the meeting.
Stalicla have a LOT of experts that spent 7 years and $100 Million before choosing Evgens SFX-01 and signing a $160M plus deal...
Give them time to evaluate the data and stop being a bunch of limp wristed knob heads ffs
IMO, the management have pretty much run out of road.
Enough cash to feed themselves and have a few research jollies for a bit longer, if the main shareholders are willing to tolerate it, but as an investment case, this brings absolutely nothing to the table now, IMO.
Was just checking the Stalicla website at the Pipeline and the arrow on STP2 has moved from being half way in phase one box to now showing as phase 1 complete. There is no change however to the text about STP2.
Not lost much this time. I bought in for 1p after the dispute notice was issued and made a 10% loss. I was really confident that this would be quickly resolved, the $500k milestone payment would be received (as EVG have said that they have fulfilled their obligations) and we would get confirmation that this would go into phase 2 this year (as advised on Stalicla website at the time the dispute was issued) which would mean EVG would receive $5m in the coming months. I really believed that would happen.
But unfortunately something doesn’t seem right yet again. It’s getting on for 7 weeks since the dispute was issued and still no updates. No mention in last week’s presentation but fair enough, why should shareholders be kept up to date with important issues. The placing last week seems to confirms EVG know that the $5m to be received once the Stalicla deal goes into phase 2 is not going to happen any time soon because why dilute the shares yet again if there is no need?
What is going on here? The Stalicla deal is supposed to be worth $163m plus royalties and yet after receiving only $500k there are disputes and continued delays to expected payments.
I’m starting to think this Stalicla deal is going to fall through and if it does what are EVG left with? I wish that Stalicla deal had never happened, it made a lot of us buy in believing there would be an income stream which would bankroll the company.
I am not sure if that MSN site is entirely reliable either, but regardless, I stand by my previous comment.
Presumably we will see some updates once the funding/dilution deal kicks in anyway. With, I expect, all of those ii's showing a reduction (diluted) in their holding here, if not some who have finally decided to update the market with their total exit, perhaps.
The 8p funding arrangement roster of new and existing participants kept me in this one, at a point when I was starting to reconsider. Having been a holder, most unfortunately, since the 18p days I think, with genuine LTH patience and investor mentality.
Not a mistake I will ever make with such outfits in future. Quick trades now and again on certain euphoric moments, sure. Investing? Nope.
You see plenty of posters lamenting and castigating the short term mentality of 'rainbow chasers', incapable of holding for more than short periods.
When it comes to AIM stocks, it is almost always the investor, not the trader, who turns out to be the fool.
The only longer term winners are the lifestyle directors in these types of outfits.
I wonder if the major shareholder register will ever be updated again? I find it inconceivable that it remains the same as before, going back to the 8p days. Hey ho.
There are some discrepancies when comparing the Evgen website and MSN
https://www.msn.com/en-gb/money/watchlist?ocid=msedgntp&cvid=d8c26ac081774cc79d07c5526c0a17af¬i=Price_Decrease&id=ao8f77&l3=L3_Ownership&investorId=all
https://evgen.com/investors/
The BOD have just invested about 10% of the placing...
It sounds like Chronos investors have invested and perhaps Mr J. R. Kight has also taken more shares and was waiting for the placing...
The Stalicla deal is still on the table and Evgen may have just made themselves a future target for acquisition.
Can’t find fault with any of that LWHL. When I bought in on the Stalicla news in Nov 2022 I really thought this looked an amazing investment, one which I would double, treble or quadruple my money on. I should have known it was another AIM share that looked promising but would end up a disaster. I don’t think I’ve ever seen a golden AIM share that was successful. They all seem to be a way for those involved to make good salaries with no personal risk.
I think you hit the nail on the head with stating that SFX-01 is years off being commercialised whilst any company doing a deal with EVG for SFX-01 would take years doing trials on the drug. Evgen do not have the time or money for that.
Evgen were incorporated in 2014, what have they been doing for 10 years to have one drug and for it to still be so far away from being used in any way?
I’m fed up of how those running Evgen see shareholders as something they have trodden in. They lied about they couldn’t buy shares, they never told us why Juvenesense pulled the plug, they never explained why the $5.5m to be received by Stalicla in 2023 changed, they aren’t giving us any information about the Stalicla dispute. What a huge disappointment Evgen have been.
This one would not pass my sniff test now. Even before the latest RNS.
Shame I applied different (less stringent) criteria to my stock market investments a few years ago.
I would have saved quite a lot of money by avoiding this one altogether. Barge-pole territory, through and through.
Finally some inside buying, although not nearly enough, and accompanied by the typical AIM dilution/soaking.
IMO, this is clearly an act of desperation to keep the salaries coming in for a bit longer. I think you cover the key realities in your post, CJ39.
The odd small spike here and there could still happen - this is AIM after all - but I think this is highly, highly, likely to go bust at some point. If their pipeline was any value whatsoever, it would have made better progress by now, as far as I am concerned. The BOD would have also bought in big and long before now, which is perhaps the biggest clue of them all.
And even if by some miracle they ever do get to a point where one of the products reaches commercialisation-ready stage, they will have made it virtually impossible for ordinary shareholders to benefit much, if at all, anyway.
STX comes to mind on that front.
I wonder if the major shareholder register will ever be updated again? I find it inconceivable that it remains the same as before, going back to the 8p days. Hey ho.
Ah well, GLA and good weekend all too.
We have now passed six weeks since the dispute to Stalicla was issued and still no news on what is happening with the deal. There was no mention of it in this week’s presentation.
This week EVG issued a placing of shares, if I’ve read right they have issued a placing of shares that has diluted the shares by almost 50% which makes it far harder for shareholders to get their money back. Why would you issue a share placing diluting the shares if you are expecting $5.5m this year from Stalicla? It’s as if they know that money is not coming this year now.
This is becoming a mess IMO. Once a company starts shifting focus elsewhere from what their main operations it’s a sign that it’s game over.
It’s been a terribly disappointing last 12 months for EVG. No new deals signed whatsoever despite EVG trying hard to do so. Huw was out in California trying to network and EVG were present at events trying to drum up interest from other pharmas, but all to no avail.
Evgen lost the Juvenesense deal which was going to be a vital income stream. The $5.5m to be received by end of 2023 changed to expected up to $5.5m in 2024 but that is now looking less likely since Stalicla removed that this would go into phase 2 this year. Add to that the cash reserves have been falling from having decent funds in 2022 to running out this year. And now we have a share placing that many of us feared would happen.
What looked like an amazing investment opportunity now looks a sorry mess.
Prof Popat says the use of blood tests or 'liquid biopsies' is likely to broaden to breast cancer and cancers in children.
https://www.bbc.co.uk/news/health-68624334
The tablet in the article is provided by Takeda which has a $45B MCAP
EVGEN PHARMA PLC - Investor Presentation
53 views 1 day ago
https://youtu.be/_H0xBzEyJMw?si=8mee0VASv1I4gBUQ
Cash runway to 2026 is what they said during the investor presentation.
Dsflat - I was a little confused with your comment, the cash runway was previously end of 2024, how have you now got to 2026. Please correct me if I'm wrong but aren't they spending all the funds raised on the acquisition.
chronoscreen™ presentation was either swerved because it could be a threat to stalicla and firefly diagnostics and 'the deal'
or chronoscreen™ is a bag of ****e not worthy of mention ....
After the investor presentation I gave feedback that there could have been some mention of Chronoscreen™
"Chronos dedicated laboratory in Oxford which screens for activity of drugs in brain disease through its proprietary platform, Chronoscreen™ "
Bring up Chronoscreen™ and talk about how it works and maybe sprinkle with some planned AI integration and it might raise investor interest...
Just my thunking
Cash runway to 2026 is what the BOD stated today.
Perhaps this deal will persuade Stalicla to proceed in case Evgen find a better offer for SFX-]1.
Depending on whether the placing shares go into sticky hands we could see some steadying and uptrend if approved is gained at the AGM.
Exciting developments here in a niche market for unmet needs for neurological disorders and disease but it is seems long journey to commercialisation unless there is Big Pharma involvement to expedite urgent treatment for long suffering patients