Member Info for AVCT

"My understanding was that avacta have the option to repay in cash."

Yes i believe that is correct. My understanding is that Heights have the right to convert any amount at anytime - subject to Avacta repaying in cash if they have it.

Do Avacta have a spare £38m ?

GJE maybe if heights allow it without converting.

In the absence of initial licensing cash Avacta will still need all the cash they can get to progress plans through 2025.

Imo DX proceeds, if a sale happens, wont be used to repay loan.

I don't recall seeing reference to 7000 or7500 recently

Might they have originaly formulated some years ago to target FAP - but now reformulated to another target ?

Wasn't the patent reference to Sucrase rather than Sucrose ?

I'm no expert - could this be rellevant ?

Purpose: Expression of disaccharidase sucrase-isomaltase (SI) is significantly enhanced during neoplastic transformation of colonic epithelium. Our study was designed to determine whether expression of SI within primary tumors was significantly associated with survival in patients with colorectal carcinoma (CRC).

A new cleaving target would make sense rather than a stable of clones targeting FAP

Thnx JT

The patent filing then seems to suggest that the cleaving target being investigated for Propaclitaxel and Prooxaliplatin is Sucrase rather than FAP ?

"Interesting, as ava7000 & 7500 are for Precision paclitaxel and oxaliplatin, respectively"

Do you have a source for that please JT

Round about August is my guess

"Cash runway (excluding dx sale) until 2026 allows Avacta to prove efficacy for 6k as well as brings other assets to clinic. TMAC in particular is highly exciting."

Reality is existing cash (after EGM) will need topping up in 12-18 months, however negotiating is about showing you are able to do it when you can and showing willingness to undertake DX sale together with displaying potential NASDAQ serves a purpose there - they might not happen but it's important that AVCT demonstrate they are prepared to take the hard decisions in time if they need too.

In the meantime 12 months for SB to negotiate away on side deals

GLA

"No worries WAG, one other point, we are also awaiting what the percentage of ownership we have for that South Korean Company, if that has a 100mkt cap on IPO and we own 25% that’s a 25 million injection. Plenty of strategic options available for the future not just DX getting sold."

Avacta wont sell when Affyexell raise.

"So have 19.3m new deferred shares just been confirmed today – plus 250k normal shares"

Nope it's a very old historic reference on each companies house announcement on share issues.

Ps it's largely the reason they ballsed up the total shares in issue in the 22nd January RNS

“… UP TO a value of £3,000 per employee”

“… an additional 9,515 Ordinary Shares have been issued”

Couldn’t be any clearer, @AVCT.

"will be issued at the prevailing middle market price at the close of business on 14 February 2024 to all eligible employees"

Could be much clearer @ StarBright

Maybe while they are doing their correction they could clarify why £3,000 / 9,515 = 31.53p rather than 95p odd.

It's very odd but sometimes AVCT do seem to go out of their way to be ambiguos - why not for clarity just state the total number of SIP shares issued.

"They are sitting on C7 data. So that is clearly complete rubbish. The question is why are they sitting on it…"

AARC presentation in April imo

Take a look at NASDAQ listed Bicycle Therapuetics who have an inferior drug delivery platform.

Multiple candidates in early stage clinical and two multi billion $ collaborations, combined up front cash elements $95m ( Novartis and Bayer )

MV after deducting cash on balance sheet £115m!

@jt

There is some scope for issuance below 118.75 if the SP below about 130 IIRC

However a floor at 95 again IIRC

Has the relevant round of funding happened yet ?

In my view very very difficult to compare this voyager deal with what Avacta might do. Avacta I would like to think have more optionality despite less cash.

This looks like a follow on from March 2022 option deal - but not researched in detail.

A cursory glance at voyager

- mv $371m

- $253m on balance sheet already approx 2.5 yr cashburn

- suggests IP net of cash approx $120m

Not specified but $20m shareholding suggests approx 4-5%