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Did someone just sit on the algo buy button
Maybe Stalicla were just buying time, their payroll must be significant with all those MD's and they were busy doing deals so perhaps they got their cash forecasts wrong and needed to raise before doing anything...
They've got money after their funding round albeit Evgen didn't seem to give them much time to allocate and bring in new BODS.
The share price was around 1.8p only a fortnight ago and since the latest RNS the share price has dropped to 1p. But has anything actually changed?
I see on the Stalicla website the guidance has changed slightly on SFX-01 and now states: Phase 1 data is currently being evaluated to support further clinical development into phase 2 trials.
I think previously it was worded that this would go into phase 2 in 2024.
But that’s what we knew was happening, that they are analysing the stage 1 data.
I am not invested here any more but I don’t personally see what has changed from a fortnight ago. Everyone has been waiting on milestone payments for a while and EVG have simply made a formal query to advise that they believe they should have received $500k.
There is no indication that Stalicla are going to pull out of the deal. If I was holding this share I wouldn’t sell at this price.
Bottom draw it is with most pharma shares .IM WELL UNDERWATER ON GENI .However if it comes in that could all change a lot . GOOD LUCK all you know how pharma goes could be 10p one day and over a pound the next .THATS why i have pharma shares just in case
How can you post negative criticism without being a troll?
It's all a matter of balance ..
If one only posts negativity With no balance over many years ...
I personally don’t believe it’s as bad news as it seems. I would be glad that EVG are disputing payments to be received as they seemed to be letting Stalicla do what they wanted. There is no indication that Stalicla are pulling out of the deal, it’s on their website that this is going into phase 2 this year.
If I was holding this share I wouldn’t sell at this point.
Hit a 52 week low of .95 today 😪
I’ll never understand the hostility to anyone who posts criticism or negative posts about a share on these messageboards. It’s a messageboard for all opinions. Do you want only positive comments about a share? Do you want to censor any critical posts?
I’ve seen it so many times on AIM shares where there are loads of rampers and they gang up on anyone who posts anything negative.
I wish I had read critical posts on past messageboards about shares rather than only positive ones which make it sound like a share cannot fail.
I got called a troll last week - because I post negative comments about this share. So basically if you post anything negative you’re a troll? How can you post negative criticism without being a troll?
I could understand if the share is performing well but to go from 23p to 1p in 5 years surely warrants some criticism.
As for the current situation, I can’t understand what has happened here. If EVG were to announce all has been resolved and they will receive these payments in the coming months this share price will double. But will it get resolved?
You must have some form of gratification as you are a regular poster here for many years and yet you have no stake (Money) in THIS company...
Beats me why ...
I on the other hand rarely post here as this investment IS what i consider to be a 'bottom drawer ' which may go UP or Down in the short or medium term.
Biotech investments are High risk/ High gain stocks and are not for the faint hearted as we all well know..
No gratification whatsoever, the same way as you get no gratification from posting constant positivity.
This old world will never change when folk cannot change their views even when it is clear that they are wrong.
I can't believe that some posters like yourself spend their Time and energy here, posting Constant negativity ...
I Wonder what gratification you get ?
The level of delusional thinking and misplaced optimism that is displayed here day after day.
"Biotech companies are rushing to raise money in US equity markets at the fastest rate since the peak of the mid-pandemic market boom.
Drug developers raised $6.2bn in equity capital markets in January, according to data from Jefferies. That marked the largest total since February 2021, the same month that the most popular tracker of biotech stocks hit its all-time high.
The funding surge marks a sharp turnaround after a two-year deal drought that forced many companies to cut jobs and shelve projects to save costs, and forced some out of business."
I'm of the opposite view. The situation now is very bleak and the investment case is at it's weakest. Having to issue a formal notice to your partner, for a relatively small sum, especially when they have just raised 35x said payment, is bad news. Normal proceedings would have meant that the two companies would have had discussions regarding the payments. These discussions were clearly not fruitful for Evgen, the question is why?
If Evgen get the entirety of the $5.5m, the entire investment case improves dramatically. In my view, this would not be the time to sell as Evgen will have the funds to see out the Phase 2 trial, with cash likely to last into 2026. There will therefore be plenty of time for future inflection points in the share price and I would imagine one of the milestone payments would be on positive Phase 2 results. This will also enable the bod to advance the other indications in the pipeline and seek additional partners.
This has left shareholders in a tricky spot. It’s not necessarily definite bad news which is why I’d be reluctant to sell, if all is resolved amicably and they both work together then things can be better with some clear timetable of future payments. If that does happen I hope that shareholders will be kept more updated on these payments as the uncertainty of these payments and not knowing how much or when the next milestone payments are due after this $5.5m makes it hard to make investment decisions when not knowing the likely income stream.
If EVG do get this $5.5m I would definitely be looking to sell on the spike because it could be a long while before significant developments after that.
I am in agreement that SFX-01 has potential but unfortunately everything takes so long here. You’d be better off waiting for the day when they have a secure and regular income stream.
It would be encouraging to see some directors buy some shares!
Apart from a small placing to Moulson in March 2021 at 8p, no director has put their hand in their pocket in over 10 years. They may have significant options but it would show confidence if they were to enter the market now. What are we to read in their reluctance to do so?
One thing to note is that in the event Stalilca try to play hardball, I would imagine that there would be a lot of support from existing shareholders to fund a cash raise, particularity the likes of Kight. With the current deal in place, and with Stalicla still seemingly interested in SFX-01 with half their DEPI platform dependent upon it, I cannot see Kight wanting to take the hit of over £1.5m, when he could either buy the company out, or finance through a placement.
Also, Stalicla would want to progress to Phase 2 as quickly as they can, even if their intention is to take SFX-01 for next to nothing. The delays will be costly for them, as well as for Evgen.
If the bod can reduce costs and get a raise away to extend cash into 2025, that may be enough time to force Stalicla to pay the $0.5m. This payment would add additional time for Evgen to either find another deal/buyout, or force Stalilca to carry on with progressing STP2 through IND, leading to the $5m payment.
CJ
As investors we must respond to the latest news. Up until the RNS on Friday, there was no reason to doubt that the $0.5m payment from Stalicla would be paid and I had expected this to be imminent due to their cash raise. And, by extension, there was no reason to doubt the progression of STP2 to phase 2 being carried out as quickly as possible, thus leading to the $5m payment for IND.
I still believe SFX-01 is a very promising candidate for the possible treatment various indications, the science has not changed. However, the business case for Evgen unfortunately has.
The relationship between Evgen and Stalicla is not as stable as it previously seemed, a relationship that Evgen's future currently depends upon. Unless Evgen can net another deal, or find a buyer, they are still at the mercy of Stalicla, something that was not concerning until the Friday RNS. Even if we see a swift resolution to the $0.5m payment, I will continue to remain more sceptical of Stalicla going forward.
I unfortunately see the share price continuing to slide on the recent developments, which, as a current holder is not a great thing to see. It will be sad if Evgen don't make it, and I stand to lose tens of thousands of pounds. The science could go on save many lives, but even if I lose my investment here, I hope it is successful. After all, money comes and goes, but genuine life-saving treatments are few and far between and we never know what the future has in store for us, maybe SFX-01 will be used to help treat us or the people we love. It would be immoral of me to want a treatment candidate to fail for selfish and egotistical reasons such as losing my entire investment here, after all I knew the risks.
I think if I was holding this share I wouldn’t sell at this price. As others have pointed out it looks like Stalicla are going to take this into phase 2 this year, as mentioned on their website.
I don’t know what Stalicla are playing at but there is clearly a breakdown in understanding of when milestone payments are going to be received, as EVG clearly were originally under the impression at the start of this deal that they would have received the $6m in 2023.
Got to hand it to you Alf, you did call it.
Although it is not over for Evgen, it is not looking great. Stalicla are legally obligated to pay the money to Evgen, however Evgen do not have the funds to support a drawn out and lengthy legal battle, nor can they afford to lose the Stalicla deal at the moment. Stalicla would still owe the money to Evgen in the event of administration and the administrators would ensure they get the money that is due.
Hopefully it will be resolved quickly and amicably and is simply a misunderstanding. However, the risk/reward ratio has now changed, and Evgen is a much worse proposition than a week ago.
The science is not in question, I think this is something we can now all agree on. Stalilca still believe in SFX-01, and all evidence points to them wanting to progress STP2 to Phase 2 clinical trials. However, I am no longer as confident that Stalicla are going to play ball and pay Evgen, or apply for IND, in a timely manner. SFX-01 may continue, but will current shareholders be left out?
Currently considering selling some of my shares to reduce my exposure.
It's now a little clearer as to why Evgen highlighted Stalicla's successful cash raise and drummed on about their partnership during the RNS last month. Maybe Huw and co had their suspicions of not getting the funds back then and thought a small reminder wouldn't go amiss, so definitely a shrewd move on their part.
It really comes down to how unscrupulous Stalicla want to be, time is definitely not on Evgen's side. They were clearly hoping a cash payout would have boosted the share price value and made a placement more palatable to existing shareholders. What we now have is a possibly expensive court proceeding that would further deplete existing reserves and in turn depreciate the share price even further. Stalicla are clearly looking to exploit Evgen's weakness and could quite easily pull the plug at this stage with the hope of picking up the spoils at a greatly reduced price from the administrators or following a very destructive share placement. One thing is for sure, they are definitely on a precipice.
This doesn't make for easy watching..
Dr Campbell just put out this YT video and the views are past 100,000 in 3 hours.
https://youtu.be/wwdRfbPrGIY?si=PIL_V21StN9j4-yA
Relevant to Evgen for it's mention of Glioblastoma
It does kind of make sense why the lack of clarity and confusion as to when milestone payments were going to be paid. I bought into EVG as EVG said that they would receive $6m from Stalicla by end of 2023. Then without even addressing this EVG changed that guidance to ‘up to $6m in 2024’. At the same time there were posters saying that phase 1b was completed in August and a milestone payment was due but no news of it being received. EVG do appear to have been kept in the dark about when payments would be received.
I was critical of EVG for these inconsistencies and lack of communication with its shareholders but it would now appear that Stalicla have been difficult and it’s not clear why.
I think the alarming part of today’s RNS was that it states ‘as announced on 16th Jan, EVG has been working with Stalicla on delivery of the milestone payment’. It doesn’t sound like discussions held so far have been positive at all.
Unless there is a positive and amicable resolution quickly then this is going to be a major problem with the lack of trust between the partnership, not knowing when any future payments will be received or worse still Stalicla pulling the plug on the deal.
It has been an absolutely rubbish last 12 months for EVG, Juvenesense pulled out, expected milestone payments delayed, no new deals signed despite Huw attending many conferences in Britain and the US, cash flow reducing, share price falling significantly.
I hope for the shareholders it will be resolved positively.
Not going to do anything today.
Hopefully by next week a clearer picture will emerge.
Not necessarily a better picture merely clearer!
DSFLAT….yep it’s good to go with your far fetched conspiracy theory.
Makes much more sense than the likely story that Stalicia has lost interest in SFX-01 and this non payment situation is a pre-cursor to them bailing out of the agreement with EVG.
Will be a double whammy for EVG if the agreement ceases and then management goes down the legal path with lawyers expenses to try and pursue them for damages. That would accelerate the cash burn with no assurance of a timely positive outcome.