Member Info for AVCT

We won't move to FTSE 250 while we still need optionality of tactical placings.

Once we move past that point - maybe a different matter with a 2 year cash runway under our belt?

"So clearly you were not here before AS then?"

What the heck has 2007 and before got to do with anything ?

"Windy doesn’t really understand the science"

You're too kind to him Winnie understands the science just fine - just that acknowleding that or explaing the science doesn't fit his/her agenda

Caughtsneezing

Dilution comes in several forms including

- licences for candidates or programmes

- dilution in equity

Avacta is transistioning from single compounds company ( most value in earliest candidate ) to a platform company where bulk if the value shifts to the IP as a whole.

Since Avacta has been historically underfunded this current transition is ongoing against a background of negotiation with Big Pharma where relative strengths will determine the extent and type of future dilution.

Equity dilution has two effects. Firstly the weakening direct dilution itself, but secondly the strengthening of negotiating position with BP.

Us PI have nowhere near enough of the internal information to assess the balances between all these parts. Our management do and I trust them to apply the levers at their disposal to minimise the overall dilution of whatever type.

They for example will know the potential availability or not in say June 2026 of equity from cornerstone investors , at what price and the degree or not to which this keeps BP " honest" in any partnership negotiations.

In summary, a fascinating situation we will see unfolding from now over the next 9 months. Imo fretting unduly about exactly what we see during that period serves little purpose - personally I'm confident in what the outcome will be.

Good luck to all.

"Biontech $100bn" for example

Has to factor in the date and environment at the time ( August 2021 ) ie 4 x current price.

Avacta will be worth £40bn at some point - just not now or next 2 years

Forward funding won't be addressed on Tuesday imo - as the plan has already been laid out in the CLN renotiation RNS

And imo it's a perfectly fine plan - minimising future dilution

"Perhaps we'll find out on Tuesday?"

Doubt it

Heights do care a little bit as they currently expect to make a 5-10% turn on any shares issued

The benefit of last two placings is they remove that benefit from Heights and brings Conifer to the longer term negotiating table - not possible until the remaining capital balance got into the £20m zone

All imo DYOR etc

£20m is a nice "bite size" for Conifer at this stage of development - still with optionality if June doesn’t pan out as expected

Whilst £60m 3 years ago would have been bit of a mouthfull and needed massaging down over time

All imo

£20m bond capital converted @ 75p = 27m shares - add a bit for interest say 30m or approx 7% stake plus whatever Conifer already have.

If TNBC results and deal next June are as anticipated then I've given up hope that any further instalments will be in cash.

Cash burn to get us from January to June will unsuprisingly be something like £13m - so any money raised in Q4 will be spent by then

All imo DYOR etc

"The £13m mentioned in last RNS is to cover the Bond payments. "

Don't think so

Courtesy of Google

"Do not correct a fool or he will hate you; correct a wise man, and he will appreciate you," attributed to Bruce Lee

Word of advice Ben: try paking your paranoia contorting every post to see your imaged "fud" - it just makes you look an idiot.

Rule 101 for those who do try and fudge/ confuse/ mislead - is just to ignore them

Statistically it may become useful to know what percentage of those who receive orphan status - go on to receive fasttrack approval also?

Orphan is an indication of unmet need that needs encouragement for investment

The first part of the question remains

"When do the majority of drugs getting fast tracked receive that status Ben."

Some may also find the answer to at which stage in trials orphan status usually occurs useful

"

When do the majority of drugs getting fast tracked receive that status Ben.

Orphan status for example

By the time this question becomes relevant, I can see CC having engineered a 20% holding in hands of investors who know what they are doing and don't want to be sold short by a hostile lowball bid.

Not definitive but a strong signal and balwirk.

DYOR

Charming

Https://zakstraderscafe.com/interview-solvonis-therapeutics/11936/

"Https://zakstraderscafe.com/interview-solvonis-therapeutics/11936/........Zak: so it really can be worth billions then!

Listen to the end and CEO actually benchmarks the SP target against peak after canadian IPO £45m at time of inflated valuations generally in 2021 at the peak of post covid free money - CEO cautions 2021 elevated valuations, generously allow 50% adjustment for current macro environment and his target MV is £22/23m

Direct from the horses mouth

" ....I just think that there is more chance than not that it will cause a SP fall."

So you agree there is a chance that it will cause a SP rise