RE: Trades today30 Sep 2025 05:09
Well it certainly looks as though a funding round is on the way, although not guaranteed and likely not at 85p as some have suggested.
As I’ve suggested prior, we have to be willing, and prepared to do business as usual, which does involve having some cash raised to take us to the next stage, be that commencing the solid tumour trials and / or, as I’ve suggested prior, getting us to the point at which we are 120 patients from an accelerated approval; as 80 of the initial 120 ( those at the selected dose) count toward the ~200 patients required for Accelerated approval.
Sure it’s disheartening if some are able to get in lower than we have recently traded at, but I feel this will strengthen our hand at the negotiating table, give us breathing room to progress both the heme and solid tumour pipeline, adding value which could see us valued as a platform rather than a single indication drug as the combination trials commence in solid tumours.
We don’t know if there is definitely a raise, perhaps find out later today, but it could be a small one to comfortably bridge us to the end of the deal making process, perhaps removing / partially settling the CLN, which has weighed heavily on the stock, in my view, as the holders likely short the stock in tandem to hedge their long position via the loan note and gain further shares in the process to sell down as they convert their notes into stock.
I actually emailed the company yesterday suggesting they should try and pay in cash if possible, and feel removing the CLN would be beneficial to the share price, and any future raises, should we decide that taking us to the next phase, ie the first 120 patients in the pivotal trial and seeing the initial data from the solid tumour Bex / PD-1 combos has materialised, not that they will listen, but felt it important to stress my views.
So let’s see what comes, I added a few yesterday, probably a little prematurely knowing my luck, and have a little more to add should it drop much further. At the end of the day a fund raise should be value accretive for paying off the CLN, commencing the pivotal MDS trail, commencing the solid tumour combo trials and / or strengthening our hand in the deal making process that is currently underway for either a co development / license / option to acquire or outright takeover deal.
I still believe the board are making the correct moves and are aligned with PI’s, such as ourselves, and am confident we can get a very good deal, and if this isn’t the case, confident bexmarilimab will continue to shine as we take it to the next stage where we can get a platform sized deal as the data continues to shine in any trials we may, or may not progress further.
Good luck all.
Sign In
Follow the stocks
