Member Info for B2HS2L

D'you want to rephrase that - 'You are so full of your own importance' one liner.

If that applies to anyone here, it's definitely you.

You deliver in spades, more of this required 🤐

(please).

Morning CTSFO, Background Info follows.

13.12.2023 - Investor Meet Q/A session as reported by the company, who have added significantly more Questions and Answers than discussed on 13th:

Is it likely that beyond a successful pivotal phase 2 trial for STS subtypes, subsequent trials for breast cancer and other types would skip to pivotal phase 2 trials? Thank you. Paul Denbigh

Doxorubicin is used in combination with other drugs for the treatment of breast cancer.

Such studies (whether Phase 2 or 3) are large scale and very costly.

In these indications it may make more sense to partner.

That was the answer then though.

BS - What's your views to CC saying nothing.

Cogent meaning:

clear, logical, and convincing

No, Cogent wasn't the word you were looking for there.

There's no rule for shareholder opinion when CC says nothing.

IMO there is much we have not heard this week. Simon Bennetts workload is higher than we think, CC has been too guarded on business subjects and too biased towards techie stuff, - wonderful though it is.

Has SB been formulating deals to be announced at the R&D Spotlight - Next Generation of pre|CISION™ Medicines in London on 30 October, or does he have to do those deals after?

Probably both IMO.

From RNS - 28 Feb 2024.

"The Directors believe that, subject to the successful completion of clinical trials and receipt of the necessary regulatory approvals, AVA6000 has the potential to compete effectively against other approaches that limit the incidence and severity of doxorubicin related toxicities.

Additionally, proceeds in excess of £20 million, including any proceeds raised through the REX Offer, alongside existing cash resources may also be used for:

· completing investigational new drug ("IND") enabling studies, submitting an IND/clinical trial application and initiating a Phase 1a dose escalation study for AVA3996

· progressing the current pre|CISIONTM and Affimer® pre-clinical pipelines."

Fundraise completed in March 2024 raising £31.1 million (gross proceeds).

+++

From the above we should expect £31.1 - £20 = £11.1 mil to be available for progressing the current pre|CISIONTM and Affimer® pre-clinical pipelines, because submitting an IND/clinical trial application and initiating a Phase 1a dose escalation study for AVA3996 is no longer planned. (it's not mentioned in September or October announcements)

Research and Development Spotlight Series - Episode 5 11.09.2024

https://avacta.wistia.com/medias/w78dwgqnaq

I think that Mondays video may be problematic to follow, because posters points of view are being formed without first reviewing the above R&D Episode 5 info.

I slowed this presentation to 0.75 speed, as a few times people spoke too fast, then created a transcript, because information was not staying in my head. - I posted the second half of this recently.

There is no 'mess on the AVA6K front that hasn't been made public'.

I advise a review of the above link, and the info imparted on 30.09 will be more transparent.

Agree Bella, and SB has been 'very busy' for a long time.

Indicative Offers plural in the RNS. ✨

Source: https://www.divestopedia.com/definition/843/sale-process

What Does Sale Process Mean?

A sale process is conducted by a business broker or investment banker when they are engaged in a sell-side assignment. The sales process is a systematic approach to selling a business, and its primary purpose is to find the most effective way to meet the pre-determined objectives of the seller.

The following types of sale processes can be employed depending on the objectives of the seller:

Full auction process – approaching all potential buyers in the market;

Limited competitive auction process – approaching a few logical best buyers; and

Negotiated sale process – negotiating a transaction with only one party.

Divestopedia Explains Sale Process

A company owner must weigh the following objectives when determining which sale process is most appropriate:

Keeping the sale of the business confidential from competitors, customers and employees;

Maximizing the potential sale proceeds; and

Finding the right buyers for the business.

Regardless of which type of sale process is conducted, the following stages are typically executed:

Analyze and value the company – set the price expectations and understand the seller’s objectives;

Develop the marketing material – prepare a confidential information memorandum and a list of potential buyers;

Approach potential buyers – manage the flow of information and qualify the buyers. In a full or limited competitive auction, creating competitive bidding is essential;

Evaluate offers – assess each buyers’ price, structure, conditions and financial capability to close the transaction; and

Execute the transaction – manage the due diligence and finalization of a purchase and sale agreement.

+++++

See 30 Sep 2024 10:57 - For 'Indicative Offer' mentioned in yesterdays RNS.

Therefore we are 'Evaluating Offers'. - It would be stupid to put a timescale on this, and probably some deals will fail.

This is not the end, nor the beginning of the end. But it is perhaps the end of the beginning.

There are a number of comments on CC's presentation yesterday.

I think it's what she didn't say that would be just as interesting, so I won't be too surprised when something comes out of left field nobody is expecting.

One of the reasons I'm invested long term is because an offer could land anytime, and you have to be suitably invested to benefit from purchasing bountiful cheap share opportunities AS left in his wake.

Or even Lung with liver. - She's got me at it now..

Agreed Dr_DMS, There are too many attempts to replace Liver with lung, - it has to be poor editing.

Good spot B_V.

Https://www.divestopedia.com/definition/1266/indicative-offer/

An indicative offer, also known as a letter of intent (LOI) or non-binding offer, is the term sheet used in a sales process which establishes a contractual negotiating framework between the potential buyer and the seller as they work toward a definitive purchase and sale agreement (PSA). Through this non-binding document, the potential buyer expresses an interest in acquiring the target and commits to good faith negotiations while ensuring the confidentiality of the process.

The essential components of an indicative offer include:

The purpose and structure of the transaction;

The determination of a price range (or at least the method for determining the purchase price);

An explanation of the payment terms and any non-cash consideration that is being proposed;

The anticipated sources of financing and the timing and steps required to secure such funds;

A timetable of negotiations stating the length of this process, the period of due diligence, and the expected closing date; and

Additional clauses that may need to be included such as a non-compete agreement, an exclusivity period, or the expectation of further involvement by the owner after selling.

"We have commenced a process to divest the Diagnostics Division and have started to receive indicative offers."

Q Surely indicative offers have dates where the offer is no longer valid?

An offeror can't be expected to wait very long for further discussion or a yeah or nay response.

Any ideas of timescale here?

Very possible LLP, but obviously can't confirm.

Does seem odd that they won't attend this year when they presented in 2023.

As an RNS states a Q4 London meeting, anything presented at Barcelona probably won't be on the same subject.

LLP

OK, it's past time we had a date for the R&D Spotlight Science Day in Q4, as Q4 starts Tuesday.

If necessary, I would expect a data cut-off for all ten projects so data presented is good up to that date.

Not expecting a separate update for AVA6103 and first AffDC at present, as these subjects do not appear to have been updated since EORTC in October 2023.

EORTC this year is at Barcelona 23-25 October 2024, but a quick review of the website doesn't reveal whether Avacta will present, nor have we been advised of attendance via RNS as per 2023.

I'd like to hear

1 Company to pay next Convertible Bond Payment, -

for the message that would send to the market, but I'm advising myself this is not a possibility.

2 News of Simon Bennett's activities. - are we waiting (or not) for Diagnostics to become profitable or progress on that milestone, plus anything else he has to share concerning his highly paid high work load..

3 A date would be nice for this please:

26.06.2024 RNS - "Research and Development Spotlight Science Day in London in the fourth quarter of 2024 where we'll be providing more detail on the future of the pre|CISION™ platform."

Assume that's when we will be advised which ten PDC candidates are to be announced.

IMO AA not possible without dose expansion completion.

CC doesn't need to be told this.

She has outlined 3rd gen capabilities in the R&D Spotlight Episode 5 sales video,

to inform II's and BP about Avacta's ten new soon to be announced PDC prospects.

And that's prior to an Investor Meet on Monday where a Q & A session will follow the interim results, where she may prioritise answering 3rd Gen questions.

Wouldn't you if you had decided to communicate to present and potential investors via Investor Meet?