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JSB I agree, surely the SP should be higher than £2
If LYT-100 were to fail, you will still have a company with more cash than the market cap, 40% in Vedanta which could IPO in the coming year and a stacked pipeline across multiple indications. I don’t see much risk on the side of shareholders when the SP languishes under 200p.
Lots of positive comments here.The big concern for me the constant “ Potential “ of the company. I bought at £4 so long road ahead. My concern is investors aren’t in for the long haul.and are they a once trick pony If even Karuna is approved If Ly100 fail then I think the company is in big trouble.Sorry for being negative but I do think a bit of realism is needed
This share is too cheap and today’s volume shows something is happening .
Just added again. I’m maxed out here now!
Most of us on here think it’s incredibly cheap.
The market is only just catching on. Small free float, so when it moves, it’s quick.
Price has popped
Just got some myself, looks incredibly cheap.
Thanks to @baroninvestment on twitter who highlighted with the detail.
Dallo - thanks for correcting my version of the free share calculation. It is still intriguing and indicates huge confidence in this company.
Hoping this tests £2 soonafter the short pause. Then kick on up
Maybe the large seller has finished for noe.
Today auction looks different , buyer present , wil lthis be the turn
Dallo - thanks for the calculations. The vultures must be circling given the Karuna payment is coming in the near term and cash will sit significantly higher than the market cap and the remaining assets have massive potential and value within them.
By my back of the envelope calculations, it looks like the current $50m buyback programme is nearly 80% complete with an estimated 4 million further shares ( at a benchmark assumption of the current share price)
to be acquired.
Based on yesterday's buyback of c100,000 it will take a further 2 months or more to finally complete the full buyback and will leave total issued share capital of c265 m of which, at most ,will result in a free float of c50 m shares which is paltry for a company such as Puretech.
One positive announcement could see daily trading volumes close to the free float and then we will see serious upward price movements imho.
Patience still required.
ATB
It makes no sense at all Dallo. I’m very interested to see how this plays out.
The buybacks are also capable (when the volumes are high enough) of taking 1 million shares out of circulation every two weeks and tightening the free float day by day.
Oldernowiser
Invesco own c24% with 8 other institutions including Lansdowne, M&G, Baillie Gifford, Hargreaves owning a further 47% or so .
Daphne Zohar owns c 4.8% with other management/Directors holding about 4% between them.
So nearly 80% held by Institutional and management investors leaving a 20% free float.
The share price is being tightly controlled imho and bears no relationship to the actual economic value of the company.
Why this is the case is totally perplexing to me .
Very strange indeed.
After watching this for a long time (and quite recently opened a position), my conclusion was that it's 'under the radar'. Time will tell. Good luck to you - and all! :)
....for some time and today noticed how tiny the free float is, with Invesco cos owning c70%.
Also in no rush to make a profit, although I believe it is not far away. So had a dabble today.
Great info on LYT-100.LYT-100, thanks
Take aim , superb . At sub 190p this is a giveaway
Here are a couple of articles about the progress of the BMS drug for pulmonary fibrosis LPA1.
It's worth noting in the second article that in 38% of cases it was being used together with pirfenidone (which LYT-100 is hoping to replace). This potentially indicates that even if successful the BMS drug may only be a combination therapy rather than a drug in its' own right and very unlikely to completely replace pirfenidone / LYT-100.
https://news.bms.com/news/details/2023/Bristol-Myers-Squibbs-Investigational-LPA1-Antagonist-Reduces-the-Rate-of-Lung-Function-Decline-in-Patients-with-Idiopathic-Pulmonary-Fibrosis/default.aspx
https://www.fiercebiotech.com/biotech/second-phase-2-win-bms-builds-case-first-class-contender-pulmonary-fibrosis
Excellent info guys ,
Any idea how lyt100 compares to BSM treatment for pulmonary fibrosis
Puretech's Pulmonary Fibrosis drug , LYT-100 in Phase 2 trials is a potential blockbuster with only one drug currently approved in the market for this disease and the market size for PPF expected to reach $5 b by 2026.
Interestingly Bristol Myers has progressed its own PPF drug through Phase 2 and has been given advanced drug derogation by the FDA.
I see Bristol Myers having a close look at Puretech in this regard and given the royalties issue, it may prompt an approach particularly at Puretech's derisory current market cap and sizeable cash resources.
A lot to look forward to imho
Dallo - thanks for your corrections and answers to my questions.
This will be a very interesting year ahead to see how it plays out.
I wouldn’t be surprised to see a deal with LYT-100 this year. P2 due in Q4. A deal post P2 would be very lucrative. Data showing better tolerability and long durations compared to Esbriet.