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Michael,

Your opening sentence was ""Haven't seen the presentation but from the helpful reports, it would seem that 0518 needs to be tweaked in order to increase the chances of part B success." which I think it is perfectly reasonable to suggest implies that your thinking in your post relied at least in part on what others reported.

Indeed, you confirm this in your reply when you admit "I also mistook the following statement from your post to be referring to part B success ratio. Having discovered that the acronym ICI refers to Immune Checkpoint Inhibitor... I realise that such assumption was incorrect."

So to summarise, both my interpretation of your original post and my response to it were perfectly reasonable.

"Haven't seen the presentation but from the helpful reports, it would seem that 0518 needs to be tweaked in order to increase the chances of part B success. We got a hint of that when we had a bit more clarity re the biomarker presentation."

Respectfully Michael, no one on here has reported anything along those lines about the presentation and DP/AS certainly said nothing of the sort.

All AS said was that if they continue to see similar biomarker data when they analyse the data from more patients then it could be that they can use that knowledge to better hone in on those most likely to respond. None of that means part b needs to be tweaked to increase chance of success though. It just means if it transpires that they are able to better target then why wouldn't they.

Licensing mrx0518 for millions would seem like a bit of a daft idea when the potential market is multiple billions.

"AS: MRx0518 + Keytruda: 30% patients respond to ICI. Of those half develop resistance to therapy. Data later this year & into next year."

On the about the above point it's important to note that AS picked 30% as an example because it is around that for some cancers. If you look at the response rate overall though I think you'll find it's usually quoted as nearer max 20%. I recently glanced over a 2019 study that estimated around 44% of cancer patients in the US may be eligible for treatment but only around 13% respond to the treatment.

My take on the asthma timeline was that it's more probably within the next month or so, rather that a hard within a month. Either way by the end of '21.

On Blautix they are having ongoing conversations with potential partners but also haven't yet ruled out running it themselves. That said, in the q&a at the end the moderator asked them which programs they are most excited about and which they consider key for the future of 4D and it was clear they see the core as oncology and cns i.e. Parkinsons etc.

Nah because the short answer is that I would like to keep each as individual investments.

Both companies have a lot on their hands as it is what with them both only just approaching commercialisation. Running a drug business let alone one that's microbiome based is very different to medical equipment. Not many companies do both and those that do (well) are generally large multinationals.

Good shout Sangi.

Ilika actually mention plastic logic and windtak on their website, I'd never noticed it until looking just...

https://www.ilika.com/battery-innovation/stereax-micro-solid-state-batteries/low-power-io-t-ecosystem

"Sunnyca- agree, I really cannot understand why it is that highly intelligent people who work in biotech cannot compute that times have changed and that private investors are now a very significant audience and they need to be explained things in layman's terms.

Tech sector are already doing it, all other sectors are really. Time for biotech to get off their high horse perhaps (I find this is not just a 4D thing)"

I get the frustration but I also get why, for want of a better term, they don't dumb down the language. I don’t think it’s controversial to say that the strategy of any business should be to aim its main investor communications at the profile of investor that is most important to it and its long-term success, be they current or potential investors. Like it or hate it, for small pre-commercial drug focused companies such as 4D that profile of investor is not the layman private retail investor who has limited knowledge of the space.

Another thing to keep in mind is that some that invest in small cap drug companies don't get involved until successful phase 2 trial has been completed as they consider that to be proof of concept. 4D has obviously already done that with Blautix but I suspect there will be a ramped increase in interest from such investors if/when a successful phase 2 for mrx0518 is completed. Being listed on nasdaq gives the best possible springboard for the future.

"Many institutions are prohibited from buying AIM stocks because of low market cap. They won’t even look at AIM. Hence Nasdaq."

Crl, you're right that some funds don't buy small market cap listed in UK but others do, off the top of my head Fidelity, Baillie Gifford and Ruffer all hold 4D. It's also not the reason why 4D listed on Nasdaq. 4D listed on nasdaq to gain access to the specialist healthcare focused institutions, analysts and investors etc that the UK simply does not have.

It amazes me that anyone ever subscribed to the god awful idea of shareholder value let alone still does today.

https://www.forbes.com/sites/stevedenning/2011/11/28/maximizing-shareholder-value-the-dumbest-idea-in-the-world/

"Although Jack Welch was seen during his tenure as CEO of GE as the heroic exemplar of maximizing shareholder value, he came to be one of its strongest critics. On March 12, 2009, he gave an interview with Francesco Guerrera of the Financial Times and said, “On the face of it, shareholder value is the dumbest idea in the world. Shareholder value is a result, not a strategy... your main constituencies are your employees, your customers and your products. Managers and investors should not set share price increases as their overarching goal. … Short-term profits should be allied with an increase in the long-term value of a company.”

AB doesn't need to do anything to cause uncertainty, people let their own minds do a stellar job of that just fine without outside assistance.

No more concerned than I was the other day and I wasn't concerned then.

I invested in the business and it's abundantly obvious it's nothing to do with the business itself so wake me up when the next trial data is out.

Yeah you are right Blue, the thing is though no one other than himself and those close to him can possibly know if he will or won't sell again anytime soon.

I can't speak for anyone else but as someone who is investing in 4D, not trading or shorting, I can see no reason to think that it's been anything other than an unexpected great opportunity to top up. The share price yesterday, today or tomorrow has no bearing on what it will be down the line as the trials and results progress. If they continue as they have to date and products make it to clinic then it will be far north of here and the majority of gains over any period of time won't be incremental. If the trials take an unexpected turn and bomb then the share price will follow concurrently. That's the nature of small cap pharma.

Had a cheeky top up yesterday in the low 70's, it would have been rude not to do so.

I didn't say you were negative on this announcement or afc generally. If that's what you take away from my post then you are misinterpreting what I wrote. I assume it's not intentional but you are misinterpreting all the same.

FYI, I know you're not negative on today's announcement or afc generally, I've been reading this board far longer than my handful of posts on here would suggest.

I don't know if anyone else noticed but Ilika put out a couple of twitter posts yesterday that seem to have subsequently been deleted, both in connection to the up coming sensor conference that they are exhibiting at.

One tweet noted that they are working to develop a product with a company called plastic logic (originally spun out of Cambridge uni about 20 or so years ago and now headquartered in Dresden, Germany). I can't remember exactly what the product was but given that the company specialises in glass-free electrophoretic displays it was definitely some sort of display incorporating stereax.

The second twitter post concerned working in conjunction with a Polish wind turbine engineering company called Windtak that focuses on problems related to wind turbine operation and energy efficiency. Again I can't remember the exact nature of the product mentioned in the tweet but if you go to ilikas homepage one of the top banner pictures is a wind turbine with a sensor device incorporated into the blade. I know ilika have done lab studies elsewhere on a similar initiative and I want to say that this is the type of product that the post related to?

You did DW, the problem is the good things you post quickly get drowned out by all the emotional pointless stuff you repetitively post like a broken record about AB etc.

Exactly haggis. Unfortunately a lot of people choose to be blinkered, look no further forward than the end of their nose and wouldn't know a good forward looking strategic decision if it hit them in the side of the head.