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Worth a read

https://wp-frontier-2020.s3.eu-west-2.amazonaws.com/media/2021/10/15080716/Frontier-News-October-2021.pdf

Richard Jones’ Proactive Interview today

https://m.youtube.com/watch?v=JphwfKlelOY

Daily Mail seems to be the only paper to have picked up on the value to Fipp of the Exscientia float. At closing SP the stake worth about £30m

hTTps://www.dailymail.co.uk/money/markets/article-10050501/MARKET-REPORT-Darktrace-sees-share-price-dented.html

Exscientia up about 30% at around $29 currently.

That worth about £33m to Frontier.

So there is predictably plenty of demand for Exscientia with it being priced at the top end of the range valuing Fipp stake at $34.4m.
Talk when listing announced was of them raising $100m, that is now over $300m and in addition a couple of private placements at same price to raise a further $160m.

“Exscientia are expected to begin trading on the Nasdaq Global Select Market on 01 October 2021.”

I see Nanopore jumped 40% on there first day of trading yesterday. We could potentially see similar here today.

That interview is well worth a listen. They are only dealing with the big boys now as they having so many enquiries.
Despite today’s rise the market doesn’t seem to have woken to the potential here. When the CEO is expressing hopes of company being the size of Bosch in 14 or maybe 40 years time (I couldn’t make it out) that’s a market cap of circa 2000 times the current one, it has to be worth doing some research.

“According to analyst Ian Jermin of Allenby Capital, which acts as a broker for Exscientia shareholder Frontier IP, the company could be worth as much as £1 billion in a float.”
That quote is from May 2019 and the talk was of a float in mid 2020. Are they worth more now?
At £1b Frontier stake would be worth £24m. Frontier current mkt cap £53m.

What’s sparked the interest today?
Is it chart related TA or has it been tipped somewhere?

Their research and backing of MXCT has certainly proved lucrative.
Trinity initiated coverage of Maxcyte in 2016 at about 80p, with what looked like a frothy target SP of 184p. SP now 900p with Trinity target now 1217p.

I’m not a chartist, but there is a clear flagpole and pennant that is about to come to a point.
I think we could see a large breakout on the upside here very soon.
If a bit of positive news is the catalyst for the breakout, then the news, combined with chartists Buy signals, and knowing how small the available float is, this could cause a massive rerate.

Exscientia was the main reason I bought into Fipp.It’s not clear what our percentage stake in Exscientia will now be after this latest funding round. However even if we are down to 1%, I still believe that stake could be worth more than the current market cap of Fipp.
A couple of years ago it was thought Exscientia would list on Nasdaq with $1bn valuation. I suspect that if and when they do decide to go down that route it will attract a valuation a few multiples of that.

Going back to that 30 March RNS. Apart from the flagging up of number of conversations with clients we also had this separate comment in regard to the “white label” use of Parsortix.

“As well as working with pharmaceutical company customers directly, we are keen to work with contract research organisations both as a white label service and, when they wish to deploy the tests internally, by supplying Parsortix systems so that they can directly offer their own CTC services for cancer drug trials. This will enable us to scale the commercial use of the Parsortix system in this large market. We are in advanced discussions with potential customers and we look forward to updating the market on the first contracts in due course."

Some will argue that current mkt cap is high enough atm. They clearly don’t get it. Just watch that video again. They can’t fully calculate the size of the market they are addressing. Just one subsection is worth $1.2b and AGL are the only company who can address that.
This feels like one of those shares that in 12m time you ask yourself why didn’t I buy more?

Well this was in the RNS on 31st March.

“ANGLE has already established dialogue with prospective customers and collaborators for the deployment of CTC liquid biopsy analysis in cancer drug trials, with a number of these conversations at an advanced stage.”

Which suggests if there isn’t any contract news before 29th April it certainly won’t be far away.

Hi Phil,

Maxcyte listed on the Aim index. Therefore no matter what market cap they reach, they can not be automatically promoted to the Ftse.
See ASOS, Fevertree etc.

Looking back a year when RNSs came thick & fast, it may give an idea as to when to expect news re possible DHSC contract.

16th March 2020
“ ....the government agency(PHE)has commenced ordering the test. Orders are initially for eight hospitals to provide stocks in those locations for four weeks of planned testing.”
Then on 27th April 2020
RNS: Contract with UK Dept of Health
“ Novacyt will supply its COVID-19 test to the DHSC for an initial term of six months, starting from 4 May 2020”

No RNSs now of course, but was it 2 weeks ago in a hastily withdrawn tweet, someone let slip :
“delighted to be rolling out ProMate to his clients in NHS North”

On the assumption that’s the ‘four weeks of planned testing’, then if successful, hopefully contract signed by mid March.

That’s how MXCT are described in CAR TCR summit promo. Shows how well thought of they are within the industry

Yes an RNS clarification could really light the touch paper here. Chart looks promising. I think this could be ready to pop.

Thanks for the L2 info today. I would agree that if it’s Stifel they will be trying to fill an order from a US institutional investor.
Though different circumstances , Stifel were used to attract US investors in another company I hold (Maxcyte) last week. It’s certainly had a strong effect on the SP in the week since.
US investors have a seemingly insatiable appetite for these type of shares at the moment. If they’ve switched on to this, the current rerate could have a lot further to go.

I think the ramping up of 22nd Feb as being the date from which FDA news might drop is unhelpful.
You only need to read this from the last interims to see that AGL are not expecting to hear before April.

“earliest prospect of FDA clearance Q2 CY21”

Broker Note out today gives updated valuation of £1bn

https://www.trinitydelta.org/wp-content/uploads/2021/02/MaxCyte-Update-210208.pdf