Member Info for BuenaVista

Their previous method has been to announce the 1st/3rd patient dosed when starting/restarting a trial (which Alan had done, with an anticipated SDMC review by the end of April), then at each SDMC decision to escalate the dose. It could be of course that no one was tasked with scheduling an SDMC meeting.

Still nothing. It's beginning to look like a patient has dropped out.

That's a lousy poem

People at that level are frequent-flyer members.

"The Chief Executive has direct charge of the Group on a day-to-day basis and is accountable to the Board for the financial and operational performance of the Group."

That's as may be but the CEO doesn't do it all him-/herself. He/she is reliant upon the other board members in their official capacities to give advice and guidance and, themselves and through their subordinates, to carry out actions.

ADCs consist of a warhead linked covalently to an antibody targetted to some antigen marker on specific types of cancer cells. The weak part of this is the covalent bond which can be cleaved by enzymes or acid (change in pH). Consequently these ADCs tend to fall apart before they get to the cancer cells they are designed to target. This weakness manifests itself as the same warhead producing the same side effects (off-site toxicity), irrespective of the antibody it is bound to.

Enter highly targetted FAP-specific pre|CISION substrates🤺...

That would be my hope also. The interesting part is the inclusion of 'quantifying'. However this isn't the first diagnostic patent involving Affimers, if that's what 'polypeptides' is specifically referring to.

Patent titles are deliberately obtuse. Take for example the one published in Journal 7018 on 22 November 2023: 'Constucts'.😂 Typical Avacta.😕

https://www.ipo.gov.uk/p-pj?startYear=2020&startMonth=January&startDay=29th+-+6819&endYear=2024&endMonth=May&endDay=1st+-+7041&filter=Avacta&perPage=10&sort=Publication+Date

Come off it gje. It was just a bit of pillow talk and should be left private.

Some people post a lot but also produce a lot of Scheiße.

Q2W C1 SDMC review

"The Group’s strategy is to divest the Diagnostics Division to create a pure-play oncology biopharmaceutical company in a manner which maximises value and strategic benefits for shareholders.

With a balanced business and capital allocation model: a high-value oncology pipeline supported by a revenue generating, fast-growing diagnostics business, Avacta seeks to create long-term shareholder value alongside patient benefit."

Oh dear

"Avacta has two divisions: an clinical stage oncology biotech division" Oh dear.

Soon Alan will be but a mere bad dream we all wished we hadn't had.

Completely disagree with you Bridgedogg1.

"Building out a diagnostics division made perfect sense"? For a company that had no Dx experience and, as it turned out, no skill? Pull the other one. Dx has STILL not produced anything. "If", if, if. Name me one successful Dx business worth more than a successful Tx business.

Dx is NOT projected by Avacta to be "be cash generative in 6 months". To say so is a blatant falsehood.

"The problem is the therapeutics is draining all the cash." Firstly, Dx is draining the cash for no perceivable future benefit. Secondly, it's a given that that's what Tx does until profitable.

I used to think you were sensible. Now I think you're an idiot.

I wonder whether Phase 1 will be used to produce Avacta's first peer reviewed paper. Sometime this year, next year, somewhen.

Random

AS did the first webinar with TP (jointly with Vox Markets) back in June 2020. Worth a listen, at least to the start, to hear barrow boy James Pope.

See my posts on the 'Onwards and upwards' thread.

(Proof reading was regarded as heresy in the Alan regime.)

So, by my reckoning, Avacta will need 12 months projected cash flow by end of March 2025 in order to continue as a going concern. That would mean until end of March 2026. That would mean that the statement "That cash, based on our current runways, takes us through probably to the start of 2026", whilst 'encouraging', means that another shot of funding - from whatever source - will be required to be on the account before the end of March.

I'm not an accountant and can't read financial statements so please put me right if I am, hopefully, wrong about this.

Going concern

These financial statements have been prepared on a going concern basis, notwithstanding a loss of £24.95m and operating cash outflows from operations of £21.8m for the year ended 31 December 2023. The Directors consider this to be appropriate for the following reasons.

The Directors have prepared detailed cash flow forecasts that extend to at least twelve months from the date of approval of the financial statements. The forecasts take into account the Directors' views of current and future economic conditions that are expected to prevail over the period. These forecasts include assumptions regarding the status of therapeutic development collaborations, the AVA6000 clinical trials, and product development projects together with the Launch and Coris sales pipelines, future revenues and costs, together with various scenarios which reflect growth plans, opportunities, risks and mitigating actions. The forecasts also include assumptions regarding the timing and quantum of investment in the therapeutic development programmes.

Whilst there are inherent uncertainties regarding the cash flows associated with the development of both the therapeutic platforms, the Directors are satisfied that there is sufficient discretion and control as to the timing and quantum of cash outflows to ensure that the Company and Group are able to meet their liabilities as they fall due for at least twelve months from the date of approval of the financial statements. The key factors considered in reaching this conclusion are summarised below:

· As at 31 December 2023, the Group's cash and cash equivalents were £16.6m (2022: £41.8m).

· The Group completed an equity fundraise in March 2024, which raised gross proceeds of £31.1m (£29.4m net proceeds)

· While the Group does have external borrowings in the form of a convertible bond with principal amount remaining of £40.8m, this liability can be settled by the issue of new equity, rather than cash, at the discretion of the Group.

· The Directors have considered the position of the individual trading companies in the Group to ensure that these companies are also in a position to continue to meet their obligations as they fall due.

The Directors continue to explore additional sources of income and finance available to the Group to continue the development of the therapeutic platforms beyond 2024. The sources of income could come through the licensing of assets/targets from the proprietary Affimer® and pre|CISION™ platforms or through additional therapeutic collaborations, similar to the LG Chem and Daewoong collaborations, which may include up-front technology access fees and significant early-stage development income, or through additional equity fundraises.

Based on these indications, the Directors are confident that the Company will have sufficient funds to continue to meet its liabilities as they fall due for at least twelve months from the date of approval of the financial statements ...