Member Info for B2HS2L

From post AGM presentation and Investor Q/A , - 30:30:

Avacta CMO Andrew Saunders states

"we typically do CT scans to look at the size of the tumour every two cycles, so that would be every six weeks ."

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19 September 2023 RNS:

Avacta Group plc

Successful Completion of ALS-6000-101 Sixth Dose Escalation and Clinical Update

- Excellent safety profile of AVA6000 continues to be observed in the sixth dose escalation cohort.

- **Significant reduction in tumour volume confirmed in a patient with soft tissue sarcoma.**

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The 19 September 2023 was 12 weeks ago today.

ie two six week cycles have passed = two trips through the CT scanner for the patient who was experiencing significant reduction in tumour volume as at 19.09.2023.

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Dependent on the size of the original tumour, that may be sufficient C5 / C6 dosage for tumour volume to register zero.

Perhaps that is what the presentation contains.

Lets see.

If it had been of that much concern, you would have mentioned it long ago.

Ergo you've only just brought this info to light and wanted to share your new found knowledge.

Most of us know this.

Must try harder.

J_t

I'd like to see the journalistic response if it should be announced tomorrow that the STS patient that had seen a dramatic decrease in the size of their tumour at the end of C6, now has no tumour evident after a CT scan.

IMO the C5 / C6 STS patient has had time and doses for this to occur, as the patients' tumour size reduction appeared to have occurred rapidly, though that needs confirmation.

It may also have contributed to the 'dosing every two weeks' decision they intend to pursue soon.

That would be a reason IMO for AS, FMcL etc to go on the record during a shareholder presentation, - ie not overly technical and thus a good jounalistic source, - to perhaps discuss any FDA response to such an event.

I'm sure they will have all seven cohorts available for review, not 'as much of C7 as possible'.

If the message to the press needs to be clear and concise, we should expect nothing less.

Great summary J-T.

I see the shareholder presentation tomorrow as being the tool with which AS will make the P1a results crystal clear for all journalists required to write up the presentation.

Surprised like others there is no RNS today, - but I'm sure they have enough questions already for their purposes.

Icecool / J-t

I have been watching the post AGM presentation and Investor Q/A.

I don't recall this being mentioned on this BB, and it might be pertinent to your discussions.

30:30 Andrew Saunders Avacta CMO assists AS in his presentation concerning the length of phase 1B, and at 30:30:

"But certainly we will adjudge each patient as they go through 1B, and of course we typically do CT scans to look at the size of the tumour every two cycles, so that would be every six weeks . The baseline, week six and week twelve and so on, at each of these junctures we will have a readout for each particular patient.....etc"

At the point where he states *and of course we typically do CT scans*, - he starts talking about CT scan frequencies in phase 1a, because he can't be referring to phase 1b.

I therefore would not be surprised to see the information provided on Wednesday include data from CT scan tumour sizes, taken every two cycles, for participants of each cohort, up to cohort six and possibly cohort seven.

Why wouldn't they do that if they want to provide clarity and remove obfuscation.

Let's see.

If early cohort participants, - some who are or were gravely ill long term cancer patients, - are still alive now.

That should grip the attention of a few BP management executives that Avacta have developed something worthwhile and valuable.

I don't see why that information wouldn't be available at the end of Phase 1a.

'we can probably all agree that Novacyt acquired them at a price that could turn out to look very savvy in time.'

Yes indeed, Amen to that.

The problem with this is that, - as long term shareholders, - we have seen NCYT management make a poor fist of creating value for Novacyt shareholders prior to this purchase.

My concern stems from Novacyt management, who do not perform marketing and sales activities well, making similar mistakes with exciting YGEN products.

That is why an end of year report, containing the stuff we were promised at the AGM, will be of great interest to reassure us LTH's that YGEN will be provided with the full amount of the investment it requires, and not left to wither on the vine to the extent that new NCYT products have been.

Scientific Laboratory Supplies (SLS) hopefully will be seen to be a big improvement on Novcyt's own attempts to market and sell NCYT assays.

From 3rd July 2023 RNS:

'The Acquisition Price represents a premium of approximately:

- 167.7 per cent. to the Closing Price of 0.195 pence per Yourgene Share on 30 June 2023 (being the last Business Day prior to the date of this Announcement)'

With an sp of 0.195 pence, the 'high premiums' quoted in the rest of the paragraph were easily achieved IMO.

Rifle : Suggest you view the 'AGM transcription' thread for the latest utterances from BoD.

Our thanks go to Wilson for taking the trouble to attend (in Paris), and who made his attendance so worthwhile for us all.

Billy no mates he may have been on the day, but he got some very pertinent questions in.

Thanks again Wilson.

If YGEN was such a bargain at the price NCYT paid + the investment NCYT were prepared to invest, then we are about to see the benefits.

I don't believe NCYT signalled anything to anyone.

Nobody wanted to trump the NCYT offer if they did ask to see the YGEN books as part of due diligence.

"There are plenty of smaller diag. companeies that would seem a natural fit that simply wouldn't be able to gazump ncyt's offer and be able to fund them in the way necessary." - That was one of the risks JW took.

"Ranger Technology alone could be worth more than current market cap"

Ranger technology and all other YGEN technologies was on offer after July 3rd this year.

It emerged that only Novacyt was interested in :

a buying the company

b footing the investment required to complete the spend that YGEN was unable to conclude.

Nobody else bid for YGEN.

Now we will see if JW made the right move in the coming yearly report.

Lets see how much investment has been / is likely to be required to finish the job.

CJ62

This article does not discuss Points CanSEEK program.

It only discusses Point's PNT2002 project, - a PSMA-targeted radioligand therapy that has an “imminent” readout expected from a phase 3 trial in metastatic castration-resistant prostate cancer (mCRPC).

POINT 's other programs, include

* PNT2001 (Prostate Cancer)

* PNT2003 / PNT2004 (Solid Tumors Expressing FAP)

and

* CanSEEK Enabled Programs (Targets not disclosed.)

Last sentence of this article :

"When asked whether Lilly would pay more, Jake Van Naarden, (president of Lilly’s Loxo oncology unit) said: “We valued the company (Point Bio), we valued success. I don’t know what else there is to pay for.”

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From https://www.pointbiopharma.com/our-products/pipeline

"POINT’s CanSEEK™ has been sub-licensed from both Bach Biosciences and Avacta, which has branded the technology as pre | CISION (an Avacta trademark)"

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Presumably Jake Van Naarden assigns a low value the other POINT BIO programs.

Despite Lillys interest in PNT2002, they know very well there is lot's to be learnt by this acquisition, including working with Bach Biosciences and Avacta, and they want in cheaply.

AS wanted to sublicense with Point, but does he want to work with Lilly?

I don't know if there are parts of the Point Bio / Avacta agreement that deal with arrangements for a Point Bio Buyout, and future relationships with any buyer.

Presumably, as part of due diligence, Jake Van Naarden knows what Alastairs (and presumably Bach Biosciences) points of view are.

As far as Eli Lilly is concerned, they would have agreed the 15th December deadline last Friday if not before.

They weren't to know that come Monday morning in UK, Avacta would be announcing their 13th December Investor Meet, at which the performance of the AVA6K platform will be of prime importance.

Lilly now don't have a snowballs chance in hell of convincing more Point shareholders to accept $12.50 / share.

If still interested after AVA6K performance blows the doors off, swallowing Point has become a lot more expensive.

FWIW ☹

Reuters

Mon, 4 December 2023 at 12:17 pm GMT

Dec 4 (Reuters) - Eli Lilly, on Monday, gave Point Biopharma Global shareholders more time to sell their stock to the drugmaker amid low participation since the offer price was below the current stock price of the radiopharma developer.

Eli Lilly's new deadline is Dec. 15 but maintained its offer price at $12.50 per share despite it being more than 10% lower than Point's share price of $13.8 at close on Friday.

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How many times can Lilly change the deadline date?

Surely the Point Bio Board need to accept their shareholders find $12.50 distasteful?

November 17, 2023 Eli Lilly press release:

https://investor.lilly.com/news-releases/news-release-details/lilly-extends-tender-offer-acquire-point-biopharma-dec-1-2023#:~:text=The%20tender%20offer%2C%20which%20was,satisfy%20the%20minimum%20tender%20condition.

Contains: "Questions or requests for assistance may be directed to Georgeson LLC, the information agent for the tender offer, by calling toll free 1-800-932-9864 or via email to Pointbiopharma@georgeson.com"

I received a response to my information request last night from Georgeson:

Q "Could you please advise whether the Eli Lilly offer has been accepted by Point Biopharma shareholders?"

A "We will not know until Monday, at this time the offer has expired."

So no info available until Monday, - have a good weekend all.

No further update tonight on success of Lilly's offer.

However here is the Nov 17th update showing number of shares tendered as of Nov 16th.

https://investor.lilly.com/node/49871/html - containing the text:

"Computershare Trust Company, N.A., the depositary and paying agent for the tender offer, has advised Lilly that, as of 5:00 p.m., Eastern time, on Nov. 16, 2023, approximately 28,186,065 Shares have been validly tendered and not properly withdrawn in the tender offer, representing approximately 26.45% of the issued and outstanding Shares, as of such date and time."

I think they are looking to acquire 51% of Point, so Lilly are not close to their target.

Https://www.prnewswire.com/news-releases/lilly-extends-tender-offer-to-acquire-point-biopharma-to-dec-1-2023-301991468.html

INDIANAPOLIS, Nov. 17, 2023 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced the extension of the expiration of the tender offer to acquire all of the issued and outstanding shares ("Shares") of common stock of POINT Biopharma Global Inc. (NASDAQ: PNT), for a purchase price of $12.50 per share in cash, without interest and less any applicable tax withholding.

The tender offer, which was previously scheduled to expire at 5:00 p.m., Eastern time, on Nov. 16, 2023, has been extended until 5:00 p.m., Eastern time, on Dec. 1, 2023, unless the tender offer is further extended or earlier terminated, in order for the parties to satisfy the minimum tender condition. All regulatory approvals necessary for the consummation of the transaction have been obtained.

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22:00 GMT deadline tonight me thinks.

Could be a big firework display planned, or a damp squib...

Wilson - I don't know if Rees is 100% YGEN, but not many would be surprised if he were.

I don't think he has time for much else right now.

Pebble, - those were also my thoughts.

That's why we need to know how much Yourgene products/ R&D / marketing costs are **actually** costing, and how income from this is being provided by Lyn Rees, (YGEN chief executive - who is a very commercially orientated person).

For me that's why JW has him concentrating on making JW's investment pay asap, rather than saddling him up with the CEO responsibilities of both NCYT & YGEN.