The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
"We will share the outcome of our strategy review along with medium-term goals for the Group in November.
"We have a strong portfolio of products and technologies in growing end markets and have secured key contract wins that will create future value and profitable growth. Our continued transformation will grow our business and allow us to play a stronger role in the energy transition."
Who knows whether they will/need to raise before the end of the year, however, they did say "the Company has been continuing to manage its cost base which demonstrates a cash runway through the end of 2023 and into the first half of 2024." Also, they are receiving money from Lanstead each month (hence why it's in Lanstead's interest to keep the price SP suppressed by drip feeding the market). I make it about £40k per month. Warrants outstanding at 5p, so hopefully, good news will take us above and warrants will be executed. Avion continue to finance the trial.
It doesn't say before the end of H1, so could be anywhere between 1st July and 31st December. They probably need to start recruiting volunteers first, which I would expect to be the next RNS before commencement. But it's all positive, albeit slow progress with a few set backs along the way.
Haha...infrequent?
Aren't we also receiving settlement amounts from Lanstead? At this SP level, I think it's around 40% so about £16k a month?
The question is, when will it stop though. Was tempted to buy at 138p earlier, but it's now just dropped into 134 territory. and still dropping
Phase 1 started about this time last year, did we ever get further updates on Gallium Maltolate phase I clinical trial? or did it fizzle out? Have I missed something?
Like most here, I don't like assumptions, however, Avion have agreed to fund the trials up to a cost of $25m. If that is now changed, or Avion have requested IMM to contribute, that would be a material difference (wouldn't it?), and therefore, I assume nothing has changed there.
Whilst recent RNS has had a negative effect on sentiment, it's in Lanstead's interest to keep the SP down and drip feed some of their shares to the market. They must be making a loss selling at this level, but bearing in mind the loan agreement, they probably aren't. There's also a level of demand as all those shares sold are being bought.
For a company that could "go bust" as many have put it, there is a rather lot of largish trades going through, since the disappointing RNS we received - £2k - £15k buys today. Suggests something going on behind the scenes, with a possible forced delay to allow it? Avion (or other) buying? investors selling at a loss?
I think you're reading too much into the change of company secretary. They have had several over the last 20 years or so. Current (or previous) is also CFO so probably just handing over a workload to an organisation that can bring other services.
If they do another PK study, rather than go straight to P3, would they need to recruit new patients, and instead use the previous subjects? This would save a lot of time in recruitment.
This is more than a tree shake. Still holding, but i'm now worried.
Does feel strange. Can't see anybody with large holding managing to sell at a profit at this price, so begs the question...are those large round trades forward selling of warrants, at a loss? or perhaps last round of options wasn't cleared completely and now they know something and have decided not to hang on?
Don't expect anything on the last day of the month. We might get something before, but It has to go to Avion first, then across the pond to Imm and then released by RNS. FDA could be delayed also.
Thanks inittowinit22, some of us should have listened to you. Can we assume you'll now be moving on and won't be posting here anymore!?
thanks Dallo. I'll have another look for that recording, it wasn't on the site earlier.
Did anybody attend the Investor's meeting this afternoon? Anything to report? Is there a recording of the meeting available?
investors starting to take their places, before the expected rise :-)
Aren't typhhons supplied by ITP?