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Here they come.

35p? Why not 75p?

He was something once but if there was anyone on the Board who should have been alert to the risks from poor communication, it was him.

Agreed. They have injected massive uncertainty into this in a totally amateur way. This is a good RNS - but insufficient to clear the uncertainty. So we have to wait for a bounce ( hopefully! )

IMO

Thanks Sorceror

I listened again to that again a couple of times. I am afraid in what he said he left the door open to an equity issue. I have no idea whether he meant to or not. If he meant to close off that option it was an incredibly ham-fisted response and just one more shot in the foot from these guys. If there is one thing they should have been clear about it’s that an equity issue was not on the table in this review period - if that was the case. And they did not do that - whatever Equity Development says. So no-one will buy material equity at this price and the price will languish until they clarify things. So annoying.

IMO DYOR

Sounds like that to me too.

The Chairman should have corrected him.

They are seriously amateur at IR.

But if its true - it suggests value here….

EC - as Angle’s greatest cheerleader you really should be buying shares in the placing to support the company rather than picking up shares at a penny off the placing price which has no benefit to the company.

Here’s a comment from that note.

‘During the Q&A, Destiny’s CEO helpfully clarified that the ongoing review of strategic options – where an update will be provided to the market in a matter of weeks – is specifically in respect of XF-73 Nasal, rather than for Destiny Pharma itself. ‘

Did he actually say this? If he did it wasn’t clear to me.

Considered it. - but decided against. Decent newsflow + the fact they have already secured some equity made me think about it. But i can’t get over all Newland’s historic ramping ( for lack of a better word ) and lack of delivery.

However, I trust all the bulls are putting their money where their mouths are and putting cash directly into the company rather than messing around in the market. The more they raise the better. And the more chance the share price might actually start to rise.

2 good

I agree about your waffle and hype.

And i agree only someone who hasn’t been paying attention these last few years would have much confidence in anything that comes out of Angle.

However, Newland has now really committed to c. £6m of revenues this year. I found it quite interesting that they actually posted the £6.45m consensus number. If he fails to deliver something around that i think it’s curtains for him and his hapless CFO with the ill-fitting suit.

And he’s got a bunch of investors who have come into this on what will have been a more detailed diligence than we have access to.

So even though i have little to zero respect for these characters, it’s possible things are on the turn.

Out of interest - which of the bullish posters are going into the Open Offer? Much better to spend your cash on this - providing cash to the company - than buying in the market.

Well that’s good news :)

IMO Newland is a serial hyper - long on promises and short on delivery.

Plus - the company has made multiple statements on cash requirements which never seemed like they should be taken at face value.

So i take anything coming out of this company with a massive pinch of scepticism.

However…..

….. he has got an equity issue away for a reasonable ( but not fantastic ) amount of equity and he has done so at a decent price.

And that means an investment in Angle today is significantly less risky than an investment yesterday.

So maybe, just maybe, now is a good time to go in here.

Ha! Thank you.

So far so good i guess!

Of course they will need funding. Newland has said they have runway to Q2 next year - assuming they make revenues of £6.6m this year. A company like this needs working capital. The shortfall in cash has caused them to cut costs aggressively and that’s not a great strategy.

However, if he continues to make progress maybe he can raise off a much higher price. Or maybe he can get partnership funding. All things possible if you have momentum. But - if he doesnt keep reall momentum he will have to raise off a bad price with no institutional support. Thats the risk / return relight now.

Actually i am sure sure that’s quite right.

I have no doubt Newland tries to pump the price up regularly with zero content announcements. And i have been ultra-negative on him. But if this is what it purports to be it has potential to be quite significant.

But now he’s actually announced three contracts. Small maybe - but signs that there is real commercial interest.

Anyway that was enough for me to put a toe ( no more ) back in the water.

I am sure there will be an equity issue. But if he keeps these coming it will be off a much higher price.

My remaining concern is he has alienated all the Institutional holders - but we will see.

So you don’t think they will raise?m The company have told you that even if they make £6.6m this year in revenue they will have zero cash by end Q2. So one thing is certain - they need a lot of cash. If it all comes from customers - great. But no signs of that yet.

EC - not a cat in he11’s chance there’s no raise by Q1 25.

But if he can build some belief ahead of it - then maybe it won’t be sp destructive as i feared……

FEVERTREEMAN. - i have bought some today. I have done this several times and always regretted it given the hype and nonsense from Newland. But maybe we are seeing something here.

But let’s not forget - there is a fundraise at some stage.

So i would urge people not to get too over-excited ( I’ve already seen crazy ramping this morning by people who know zero about this situation )

I must admit this feels like progress EC…..

I agree. Fundamentals remain good. I had lost confidence over the Spring - but the presentation was solid. This should be at least - at a minimum - where it was before the results. IMO the results had more positive messaging than anyone expected. The price drop reflected the very poor RNS - hence a buying opportunity arose that i took.

Excellent post. I wish you could draft their RNS’s going forward. Just amazes me how different the presentation was to the RNS.

I also bought several hundred thousand during the presentation - having blown his credibility this year Tovey really spoke with authority.

It still remains risky - but what we heard yesterday was seriously positive versus the fears that have arisen since the terrible RNS’s from January onwards. If they had set out their stall more clearly during 1Q 2024 and then drafted an RNS that reflected the presentation i think we would be back well above 20p. This share price discounts any good news at all. And i would be amazed given what they actually said if we don’t get that good news in the coming months.