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This is what CC said in the opening part of the Investor Meet Q&A session in answer to the recent fundraise/Diagnotiscs questions submitted.
The 4 key strategic priorities for the short term as laid out by CC.
1. Therapeutics Pipeline/Disease Specific Data
‘Really excited by the sheer number of ways PreCision can be implemented in the next programme.
Simon Bennett quite busy. Commercial deals are really unlocked by this clinical data and so there are MULTIPLE conversations on going.
Progress being made on multiple fronts in the pipeline.
2. Financing
A number of questions to address here and they will address them.
The Board is working on plans to fund all of the areas mentioned above and working on it being a short bit of time to come back to you.
3. Planning Around Diagnostics
Looking to maximise value for shareholders, customers and staff alike and are working on a plan and look forward to communicating this to you in the not too distant future.
4. Evolution of the Board
Critical competencies needed to take Avacta into its next chapter and this is/has been on going in parallel with the CEO search.
Recent Share Trades for Avacta Group (AVCT)
Date Time Trade Prc Volume Buy/Sell Value
03-May-24 16:40:50 45.118 950,000 Unknown* 428.62k O
03-May-24 16:36:20 45.50 100,000 Unknown* 45.50k O
03-May-24 16:35:07 45.50 87,967 Unknown* 40.02k UT
03-May-24 16:33:24 45.386 387,000 Sell* 175.64k O
03-May-24 16:28:48 45.35 20,000 Sell* 9,070 O
03-May-24 16:28:40 45.35 13,290 Sell* 6,027 O
03-May-24 16:24:18 45.15 150,000 Sell* 67.73k
Nanomat...I'm not defending him. But for him to take on another position with another company in the same building right around the time CC came on board tells me that AS and the board knew all along that he would be stepping down at some point. As far as many of the decisions made they were not made in isolation he eould have consulted with the Board. Do I think all the decisions were good ones...well I can't really say for sure but they will have been made with more facts than we had at the time. The Pandemic was terrible for most S&M size businesses. The LFT was a great idea but so many British companies got shafted by the Govt and Govt Dept decisions. Many PIs jumped on the Avacta covid bandwagon without even knowing or researching what Avacta was really all about.
All CEOs make duff decisions at some point...nobody is perfect...but one hopes that with an experienced/knowledgable BODs the bad decisions are kept to the minimum.
For non believers...
https://www.linkedin.com/posts/sparta-biodiscovery_spinout-sparta-biodiscovery-speeds-commercial-activity-7113497031712624640-ldFK
AS's moving on has been in progress since 2022.
March 2022 CC was appointed to Avacta Board.
April 2022 AS was appointed to the Board of Sparta Biodiscovery
This was not done suddenly...there has been a 2 year transition period so stop making out it's new and it was all done because of shareholders wanting it to happen bla bla bla...get over it...it's done...it was planned...
End of...
AS has been with Sparta Biodiscovery for some time so I guess he's now there on a full time basis...no need to keep walking between companies now...
https://suite.endole.co.uk/insight/company/13952962-sparta-biodiscovery-limited
And that's what we were told wasn't it. There are two distinct parts...Precision and the Drug it carries.
1. PreCision targets high and mid FAP almost without any difference....great news for PreCision.
2. The drug - in AVA6000's case Dox...FAP levels are not the key here it's the effect Dox has on certain cancers.
Some cancers react better to Dox than others.
Dox levels in the cancer environment remeained higher than in the blood even with increased dosing.
Dose levels and time intervals between doses matter and 2W data should help prove this.
Thanks LLP...
Had a reply and as I said the shareholder is responsible for informing the company as thresholds crossed and the company then RNSs the TR1. For some types of funds, however, they don't have to report until 5% crossed which is the case for the one on the website.
Now the shareholder list doesn't really look fully up to date but even if it is there is nobody listed that fits the bill really for the European chappies and certainly not by percentage change if they are significant...which I tend to think they are...and the new Board addition may well be linked to the European fund hence no name mentioned and won't be until Board member announced.
One other thing I can say... it's been confirmed they are not the same company as the one now shown on the website...
Recent Share Trades for Avacta Group (AVCT)
Date Time Trade Prc Volume Buy/Sell Value
02-May-24 17:07:29 46.50 5,000 Unknown* 2,325 O
02-May-24 16:56:19 45.78 100,000 Sell* 45.78k O
02-May-24 16:43:52 45.644 -85,000 Unknown* -38.80k O
02-May-24 16:52:08 46.188 325,000 Sell* 150.11k O
02-May-24 16:43:52 45.644 85,000 Sell* 38.80k O
02-May-24 16:38:29 46.25 100,000 Sell* 46.25k O
Well they missed out to EL on the Point Deal...and they will know all about Avacta, our new CEO, our trials/data...just a matter of time...
'POINT Biopharma develops next-generation radioligand therapies for the treatment of cancer. http://www.pointbiopharma.com. External link for POINT Biopharma, a wholly owned subsidiary of Eli Lilly and Company. Industry Biotechnology.
https://www.linkedin.com › company
POINT Biopharma, a wholly owned subsidiary of Eli Lilly ...