Theracryf PLC Share Chat (TCF)

Monday marked 7 months since TCF/EVG issued the dispute notice to Stalicla. Do you think it’s acceptable that they have not updated shareholders about what is going on here? After all it’s the shareholders who own and fund the company.

The board here believed that they fulfilled the criteria for the $500k milestone payment over a year ago now. After almost two years since the deal was signed only $500k of the $163m has been received. I do wonder how legitimate this deal really is, it does not seem like Stalicla could ever afford to pay $163m plus royalties and why would they when surely they could just buy TCF out if they wanted SFX-01? The market cap here is currently £3m. I personally feel like the only possible positive outcome here now is if Stalicla try to buy out TCF, it could well happen if SFX-01 is deemed effective to their projects.

I do feel like people who are invested here have been really unlucky. This share looked so promising two years ago, they signed a deal worth $163m, they had £10m in the bank and advised they would receive $6m by end of 2023. They had the Juvenesense deal. They had many workstreams for SFX-01. They were trying to sign up more deals for SFX-01 and were trying to get big pharmas to trial SFX-01 for them.

Absolutely everything has gone against them. I remember saying I wish I could see into the future to see how this share pans out, I never expected this two years ago. I hope something positive happens over the coming months but with money running out it’s starting to look very concerning here.

A stopped clock is also right eventually, and a tw*t is still a tw*t even if he's eventually right.

So don't come back Kingalf.

Not seen him in a long time here but he really did call this share right. Was a shame so many people were mean to him when in reality had they listened to him they would be a lot richer. Come back Kingalf.

Seems similar to the recent Erasmus University Rotterdam and TCF findings, but too technical for me to comprehend.

I shared the information with TCF.

https://www.dana-farber.org/newsroom/news-releases/2024/adolescent-glioma-subtype-responds-to-cdk46-inhibitor

https://www.cell.com/cancer-cell/fulltext/S1535-6108(24)00305-2

On-Target, the board have always shown nothing but utter contempt towards the share holders. I have always felt that they have a chip on their shoulders like we do not need to know and have no right to know. Anyone remember the lies that they weren’t allowed to buy shares but would not explain why. We know why now, they knew where the share price was heading. They’ll never update us on the Stalicla deal whilst they have a hole in their…

It’s all very odd ontarget. Unless I’m mistaken it appears that EVG/TCF reported that phase 1b was completed over a year ago. In the RNS 15/08/2023 it read: Final Clinical Study Report from Phase 1b PK/PD study of new SFX-01 tablet formulation approved.

New formulation of SFX-01 performs as designed, delivers meaningful levels of drug and metabolites, is safe and well tolerated.

Results to be shared with Evgen Partner, Stalicla in support of regulatory submissions for Phase 2 studies in Autism Spectrum Disorder.

I don’t understand why a year later Stalicla show that this is still midway phase 1. But probably even more alarming is that it is 2 years next month that the Stalicla deal was announced and this is still in phase 1 and only $500k has been received.

How many of us bought in here because of the Stalicla deal?

With only £2.9m in cash reserves effectively from 01/04 and Stalicla our only current potential income stream, this is starting to look desperate.

I don’t understand why they spent £1m to acquire this new company in March if it has no income stream either? We need money, lots of it and fast but nothing appears to be happening.

Https://stalicla.com/pipeline

Not sure if this is yet another update, but STP2 is currently showing as part-way through phase 1 compared with STP1 at the end of phase 1. Furthermore there is now a 'STPx Second phase 2 candidate TBA', perhaps suggesting STP2 would be third in the queue.

This (along with the missing milestone payment) does strongly suggest that Stalicla don't believe STP2 has completed phase 1 and are not going to progress to phase 2 anytime soon.

But we are completely in the dark as to the details. Wouldn't it be nice if TCF let shareholder know what is going on!

I've asked LSE to check the directors deals & RNS data for TCF, it doesn't look like they have transferred the correct information over.

IF we get good news from Erasmus MC or Stalicla it will obviously be better if potential investors have correct historical info to reference

My take: Options at 0.25p current share price 0.70p. Looks as if TCF are expecting Stalicla monies before the end of 2024, to enable options to be exercised and shares sold for a staff Christmas bonus.

Good find DSFLAT new research tools on brain mapping being developed - lets hope that Sulforaphane intervention will be proved beneficial more rapidly through clinical trials

Got to agree with LWHL.

I’m curious to know how long the money is going to last. They had £2m as at 31/03/2024. They raised £900k in the share placing after this date. £2.9m should see them through to end of year… just. But then what? They said that they are looking for private investments but it’s not going to happen. Only a matter of time before this goes under.

For those hardworking and successful guys and girls in this name, lol.

I particularly enjoyed the sentence about them forgoing cash bonuses to extend the cash runway. How generous of them.

A small bonus might have been merited upon receiving each of the Stalicla payments.

Speaking of which, has that been resolved yet?

Any new deals elsewhere that are going to extend the cash runway, by you know, bringing in cash that is not directly from shareholder pockets?

There are more similarities than differences in this niche space with the worst of the public sector mentality, than the corporate world, IMO. In the real world, you get fired for failure, not a bonus!

More front than Blackpool.

New system can spot genetic markers of autism in brain images with high accuracy

"We hope that the findings, the ability to identify localized changes in brain morphology linked to copy number variations, could point to brain regions and eventually mechanisms that can be leveraged for therapies," Rohde said.

https://www.msn.com/en-gb/health/other/new-system-can-spot-genetic-markers-of-autism-in-brain-images-with-high-accuracy/ar-AA1pCf1T?ocid=msedgdhp&pc=HCTS&cvid=73a2e9ab85164c558406e1df294c96ff&ei=7

Obviously not on the Stalicla website but news that could see further interest in Stalicla and in turn TCF.

No update on the EEG partnership last year between Firefly and Stalicla yet...

"STALICLA and Firefly Neuroscience will leverage their technological platforms including the Databased Endophenotyping Patient Identification (DEPI) platform and the FDA-cleared Brain Network Analytics (BNA™) platform respectively to further advance EEG validation in two upcoming Phase 2 clinical trials, sponsored by STALICLA."

Last chance to average down ? 🤔

Https://www.stalicla.com/pipeline

Stalicla's website has recently been updated (again) and now, on the 'Our Pipeline' page, STP2 is showing under 'Core Neurological developmental Disorders programmes'. The Total Addressable Market valuation of $2 Billion has also been added and the marker is still in the 'Phase 1' section.

Unfortunately, we are now unlikely to see STP-2 progressing to P2 this year, but I would welcome the resolution to the payment dispute. Hopefully the update to Stalicla's website is an indication that the evaluation of Phase 1 data is almost concluded and will be published in due course (hopefully the next few weeks). This should then lead onto the $500k payment, and more importantly, demonstrate Stalicla's continuing interest in SFX-01 as their primary candidate to treat Phenotype 2 autism.

From memory I think Wavedancer had about 80 sales reps.

I see this merger as one piece of the puzzle, having early and accurate diagnosis is paramount to Stalicla being successful.

We just need clarification on the effectiveness of SFX-01 in Autism trials, the deal to be Green lighted.

I posted about Firefly on the old Evgen chat and they closed their merger with Wavedancer.

https://fireflyneuro.com/

Stalicla gets a mention in the CEO letter to shareholders:

https://feeds.issuerdirect.com/news-release.html?newsid=8132401897687316

It probably wasn’t a million but I do remember in 2023 the loss for the year was over £4m and was significantly higher and they did state this was due to:

The increase in operating loss compared with 2022 reflects escalation of manufacturing activity and commencement and completion of the clinical work in the Phase I/Ib trial, less £442k in revenue from the Stalicla deal.

As for the shelf life of the tablets, I can’t find that but most medications I’ve used have a shelf life of 24 months. But I’m only making an assumption on that.

"I think Huw had a stake in this company TCF bought, if he did he’ll be enjoying his windfall."

https://find-and-update.company-information.service.gov.uk/company/06838479/filing-history?page=1

Good reply ;-)

However, that references the key intermediate material for the synthesis of SFX-01. It doesn't say they manufactured millions of capsules.

I found this in full year results June 2023:

MANUFACTURING PROGRAMME

Following a competitive process, a new supplier of the key intermediate material for the synthesis of SFX-01 was contracted. The new manufacturer has extensive facilities and capabilities. Circa 25kg of product has been successfully manufactured in good time and at a competitive price. A further 25kg is expected in H2. This will be sufficient for clinical requirements in the foreseeable future.

That’s 50kg of SFX-01. 50kg = 50,000 grams.

There are 1000 mg = 1 gram. Therefore they have 50 million mgs of product. The tablets are usually about 50mg based on most medication. Therefore 50m mg divided by 50 mg tablets = 1m tablets.

What is incorrect about that?

Feel free to find information on the number of tablets and the expiry date of any tablets produced:

"They’ll be out of date soon."

Ok they try this one:

"Didn’t they produce millions of tablets of it?"

DS, just point out one of the things I said that is incorrect and I will try find the information to back up my point.