Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Douve87, fair points. We'd all love to know more. So would their competitors I would imagine.
In terms of costs, Uni of Oxford were given over £100MN for a covid19 vaccine alone. I'd love to find out how much is left of that chunk of change.
Lochinvarlass I agree they all impact financing but not as much as a deal would or data does for the company. We already have enough money to start the various studies well thats what the rns for the oo in July said and if the results and science are as good as we all hope then further finance will either not be needed in 2 years time or will be less dillutive.
We all questioned when it was announced why now and why so soon when we are already in the strongest financial position since I invested in 2012? And thats what I still want to know? It doesn't make sense.
Douve87, How you answer these questions will determine your perspective.
Where do you think the value of the £ will be now versus next year?
Where will the CTs be held?
Where are the markets for Scancell's product lines?
Which regulatory bodies will need to approve the proven solutions?
ATB
Lochinvarlass, actually its a good point and kind of comes back to the point I made a week or two back. You said it will be cheaper to secure finance now, why? If our future is as bright as we all hope and if deals are on the near horizon on multiple fronts then our shareprice and finances will reflect that. So whether through upfront payments or milestones we could have more money in the bank within 2 years and not need the finance at all or at the very least the shareprice will be much higher so if we need finance it will be cheaper then to get it now? So it comes back to the question of why now?
When the details were first released I stated that it seemed all deals were off for the meantime as otherwise why secure finance now and it seems an ii may agree that its not necessary at present.
Either deals are off and if so why? Or if not then why secure finance at 13p when even a small deal should comfortably push us into 20p and make the dillution less. Like i said before I give the bod the benefit of doubt that its not mates rates but financing now doesn't make sense with our balance sheet already being stronger than it has been for years?
Concur with your view.
I was particularly impressed with Holloway's description of the forthcoming CTs being done in parallel.
Having the cash in the bank now to fund that will be a lot less expensive than raising it in the future.
Why I'm voting Yes...
'The Board believes that a strengthened balance sheet affords the ability to extract maximum value from this expanded development pipeline by advancing several lead programmes to the clinic in parallel. '
But they then must deliver!
I too would like to know more about what is going on.
I've played out the scenarios about what happens if.... Because regardless of management's intent, market forces will be what they are. Looking at the potential weaknesses from both versions of the balance sheet may help your decision making.
C7 and others had ball parks for monthly running costs, etc.
We have this to go off:
'Cliff Holloway, CEO of Scancell said "The additional funds from the proposed New Convertible Loan Notes would allow Scancell to accelerate its development pipeline by advancing multiple programmes from its different platform technologies in parallel. Importantly, this would mitigate risk versus our current, more sequential approach to asset development. Further, the additional capital would provide the Company with greater flexibility for any corporate development and partnering activities it may wish to undertake and thereby maximise the potential to increase shareholder value. I encourage those shareholders who have not yet voted to consider the merits to the Company of the additional funding from the New Convertible Loan Notes and to make use of the extended voting deadline for the adjourned General Meeting."
'Following completion of the Subscription, the Company currently has an unaudited cash balance of approximately £25 million. However, the Board believes that the proceeds of the New Convertible Loan Notes, if received, would significantly further strengthen its balance sheet and provide additional flexibility to further extend the utility of the Company's ImmunoBody®, Moditope® and AvidiMab™/TaG antibody products and platforms to accelerate and broaden its development pipeline of new potential novel therapies. The Board believes that a strengthened balance sheet affords the ability to extract maximum value from this expanded development pipeline by advancing several lead programmes to the clinic in parallel. To achieve this the Company needs to expand its development and clinical operations capabilities to meet time critical milestones. Further, as outlined in the Capital Raise Announcement and the Circular, the additional capital from the issue of the New Convertible Loan Notes will provide the Company with greater flexibility regarding the execution of its development plans to ensure both optimal development and commercialisation strategies can be pursued and to limit the potential impact on the Company of economic pressures caused by COVID-19.'
I agree would have been better to have been more informed on any issues relating to getting it passed
So the company want the pi's to vote for the resolution but keep us in the dark about what is actually going on. I for one would like to see some clarity for a change before making any attempt to vote.