Watched the proactiveinvestors video interview with CEO Richard Marsden.
He states at the end of the trial he will be discussing the findings with British European, American and other regulators to discuss 'what happens next'.
Can I assume SNG001 is a drug or is it a medical device?
One outcome might be a phase 3 trial. Was a phase 3 trial always necessary, or has it never been necessary?
What other outcomes might there be?
He also states that the SNG001 trial that started in Southampton this week is due to finish in around 8 weeks.
Is that the latest estimate of end of trial please?
TRX RNS 04.06.2019 - Secures Credit Facilities of up to $20m:
"Tissue Regenix Group (AIM:TRX) ("Tissue Regenix", or the "Company" and together with its subsidiaries, the "Group"), the regenerative medical devices company, announces that it has and certain of its subsidiaries have unconditionally entered into agreements with MidCap Financial Trust ("MidCap Financial") to access a revolving credit facility and a term loan credit facility (the "Facilities") of up to $20 million. Funding of $10.5 million is initially available to the Group, of which it plans to draw down an initial $7.5 million immediately.
Use of Proceeds
The initial net proceeds of the Facilities and any further funding drawn down in due course, will be used to invest in additional capital expenditure to sustain future business growth, generate further clinical and health economic real world data to support brand differentiation within dCELL and BioRinse, and for general corporate and working capital purposes."
So the need in June 2019 when they had considerably more working capital than they have now, was $20 Million.
Truthsearcher, you are completely correct.
So one of these options is true:
1 TRX applied for a drawdown and met with an outright rejection, hence much activity trying to find further finance.
2 TRX applied for a drawdown, MidCap refused, but provided details of another unacceptable loan,
hence much activity trying to find further finance.
3 TRX has not applied for a drawdown, because it wants to replace the MidCap loan with another.
(IMO a placing is not viable at present).
Recall that the last CFO left the company days after the MidCap loan was restructured last November, and I believe that deal has been unacceptable to the board ever since.
Whichever, the shareholder only sees loan discussion activity.
If TRX are unsuccessful in finding the loan they want, then the board might want to break up the company and sell off the individual parts to highest bidder, (patents and all). Of course they could find a buyer, which is just what Jonathan Glenn has just done successfully at Consort Medical, lining his pockets nicely at £10.10 / share.
We should give Jonathan Glenn time to work on the discussions mentioned in the RNS.
I happen to think option 3 is true.
Discussions about selling off parts /all of the company might also be taking place, but WTFDIK.
From todays RNS:
"As previously announced, the Board is endeavouring to secure necessary funding for the Company. The Board is encouraged by a number of ongoing discussions with potential investors which the Board is working to conclude in the near future. However, there is no guarantee that any such discussions will result in near-term funding being made available to the Company."
So no mention of the fact that we have a loan arranged with MidCap, and all we need do is draw-down the next tranche
to do what the original loan was intended for, - fitting out the adjacent processing plant to continue building the business.
Does the board think we can we no longer afford the loan terms?
Only Non Exec Director Shervanthi Homer-Vanniasinkam does not have in depth financial experience, and Gareth is performing the CFO role.
In normal circumstances there shouldn't be a problem fixing another loan, - but maybe present market conditions are adversely affecting negotiations.
I'm confident of success eventually, but not so confident if a complete lockdown in Texas stops work.
These are the commissioned research notes that are not found with the rest on the TRX website:
Now we have time on our hands, we have the option to catch up with old news and views.
trinitydelta research notes:
helu0104, Most Commissioned research notes can be found here:
Before we signed a global distribution deal with Bruker, I would hope it was established that Bruker knew which establishments worldwide operate the following equipment:
1 Applied Biosystems™ 7500 Fast Dx Real-Time PCR Instrument. (FDA EUA states SDS Software v1.4.1 is necessary)
2 Bio-Rad CFX96 (Bio-Rad Laboratories Inc)
3 Roche® LightCycler 480 II
4 Bruker-Hain Diagnostics' GenoXtract® automated nucleic acid extraction device*
5 Primerdesign's q16 molecular instrument
6 Primerdesign's q32 molecular instrument These 6 instruments are capable of running the PrimerdesignTM Coronavirus (COVID-19) genesig® Real-Time PCR assay.
* Lets hope they know where these are!
breatheasy, (what a handle in a Coronavirus pandemic..)
I posted that today's Daily Mail contains an article stating Germany is testing 70,000 persons per day, - 490,000 / week.
I don't have a link, - searched but didn't find one. - I read the story in todays paper.
Spanish purchase duff testing kits:
Reading this it seems that the importer was conned by the certification, and the batch was delivered to Spanish ministry.
Because the documentation states that the manufacturer was Shenzen Bioeasy Biotechnology Company, they are taking the blame in the world press.
I suspect all the documentation was fake, because a batch with only 30% detection rate is either p*ss poor QA, (which doesn't often happen in Biomedic circles), or an outright fake product.
An opportunity perhaps to rub the reputation of Bioeasy into the mud.
"We sell as many as we make", - and we only make what has already been paid for ;)
Google search - How is brand value calculated?
Here are four steps for finding your brand values:
Step 1: Discover what matters.
Step 2: Know your customers and competitors.
Step 3: Stand for something.
Step 4: Stay consistent.
For NCYT the brand value is way above zero.
I'm going to venture brand value should be a %age of turnover.
Anybody else have an input on this?
There are now many more customers, all trusting NCYT to deliver quality kits on time, and that has to be worth something.
The fact that the Assay performance table top spot is occupied by Primerdesign.
This definitely has a value.
Source Todays Daily Mail - so reader beware.
NHS Staff to get home testing kits
...Figures yesterday showed samples were taken from just 8,911 individuals in the previous 24 hrs
- two weeks after ministers promised to carry out 10,000 tests per day.
Germany is carrying out 70,000 a day while the US has been undertaking 27,000 daily.
Concerns have also been raised that a much hyped antibody test -
capable of detecting who has already had the virus and is now immune -
will not be available for several weeks.
Public Health England had suggested that millions of these home testing kits would be ready to buy
within days but officials have since admitted they don't even know if they work.
The tests for NHS staff are completely different and check whether individuals have the virus now
and therefore need to self isolate.
Equipment will be collated at three UK hubs.
Hospitals, Ambulance services or other NHS trusts will then be able to request tests for workers currently off sick....
...Cabinet Office Minister Michael Gove said yesterday "These tests will be trialled for people
on the front line starting immediately, with hundreds to take place by the end of the weekend
- dramatically scaling up next week.
Just so we're up to date..
Unsure whether information you might post has been discussed already?
Searching for something specific?
1 Increase posts per page to 100.
2 press shift f3 keys and observe a search window open
enter your search term and press enter.
Appologies if you knew, hopefully this will stop old news being posted.