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Not only a placing but a huge amount of warrants & options set at around 5p which will limit any potential upside for shareholders
Placing it is.
'Extremely risky stock.'
Wise words - the placing is at a 21% discount.
This is all Aim... Tomorrow can bounce to £1 or go bust. Extremely risky stock.
This is the issue Nolupus… there isn’t enough money to last the next few months, the research note highlights that they will be minus £800k by year end, so at £200k cash burn a month that estimates they run out of cash by the end of this month, something has to give either a bridging loan or placing but above all else the directors have a duty to ensure the company survival, if Worst case scenario the FDA have delays or reject or Avion have an issue then IMM will be in administration if they don’t have any cash! Want to see some cash in the bank here ASAP by whatever means hopefully a bridging loan or small placing but we need cash ASAP
Halfbutt returns
Some money will be needed by the year end but there should be enough for the next few months , imo
In the meantime my focus is elsewhere but some people seem to be firmly focused on bringing up the subject .. especially when the SP is moving slightly up :-)
As I’ve said many times we need to get our money back from Tim’s other business Incartha
What baffles me is why the directors don’t buy any shares, they are not in a closed period yet only ever dipped their hands in their pocket once for a token gesture, that needs to change imo and was brought up at the AGM
Lambo
If Immupharma need bridging funds for a few months until FDA decision then maybe Alora may
assist.
There is no way anyone will subscribe for shares where the risk of losing all their money in a matter of weeks is so high.
Everything changes after the FDA decision so a small short term cash injection by Alora for example is the only option ...so time is of the essence and maybe Immupharma has enough funds to see it through to the decision.
Imho
They will raise before the end of August as that’s when they run out of cash, it states this in the research note, with minus £800k forecast for year end and at £200k cash burn a month the forecast is they only have £200k left at end of July imo they cannot risk administration as Avion would then just buy the patents for a pittance, so imo they have to raise within the next few weeks the question is at what price, be happy with 6p but would not be surprised with 5p in this market anything can happen
Lambo
It is a classic chicken and egg situation...should the FDA approve the Phase 3 Lupuzor trial then there will be no problem raising funds and indeed the SP may shoot up to above 11p bringing the warrants exercise into play and possibly raising c £7m from this source alone.
If the FDA declines to approve then it will be near
impossible to raise funds at any price...that is why Immupharma is on a knife edge now and as the Bard might say..it is the knell that summons thee to heaven or to hell.
Finally I note that any minor rally is being sold into at the moment and I hope it is not our old friend Lanstead playing games again.
Fingers firmly crossed for us all here.
ATB
Rns says on 29th August they send response to Avion, then IMM have to wait for Avion to respond to IMM, cash runs out at the end of August according to the research note as it states cash burn is £200k a month and at year end they would be minus £800k if no fund raise…. So at end of August they are out of cash, question is what price will they raise at… I would be happy with 6p in the current climate, very happy indeed but fear it may be a mates rate raise at lower, fingers crossed it’s not though
pinch of salt , may be earlier
Is the 29th August the date we will be told or is that by the 29th
Well getting close for response
investors starting to take their places, before the expected rise :-)
Got to remember they will have learned from first time round and fact that trial basically went well. Just wrong criteria of some participants for trial. No mistakes this time
A bit of interest here today ?
If you believe Avion is investing serious money in second trial that surely they are confidant of success because they must have been impressed with majority of last trial and determand to correct where it went wrong. You do not invest that kind of money to pour down drain. All being well about five weeks from now and good rns about FDA and green light
Jenforluck; Absolutely agree with you. The agreement between Avion and FDA on the Protocol whereby all prospective patients in the new P3 Lupuzor trial will be pre-screened so that only only those with positive biomarkers for Lupus will be included in the trial is an indication of the productive negotiations that have been going on between the two organisations beforehand. Therefore, I would be very surprised if FDA does not agree with Avion's proposals for the new Phase 3 trial. The research note by Stanford Capital Partners explains all this in greater detail and deserves a close read. I think it is very positive for IMM.
Things have been slow but Avion i feel have been making sure everything has been learned from previous trial. Making sure nothing left to chance to insure success this time round you dont invest millions if they didnt have the confidence to succeed. I.M.O
What is hard to understand is that the last placing was done in late December at 11p , an 80% premium to the SP at that time. They could have done it at 10p , Which was the voted nominal at that time ..
There must have been a good legal reasoning behind the choice of 11p, imo
Anyway , here we are in July and we are still talking about fund raising so my question is why did’nt Alora subscribe for more millions ?
I would think that Avion would require IMM to have a certain level of cash runway on the balance sheet, and may well have told them at the recent US meeting to make a raise if so......hence the change in the share nominal value .... getting a research coverage peddling a 37p value cedtainly assists if they then seek US investors to come in at this stage....
Financial stability with a raise would be better to cover the next 2 years..
Still possible that new partners investing for royalties share, may be the funding avenue