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I note that the number of patients in each cohort hasn't been updated in subsequent slides (#23-25).🙄

All looks very much like what we've seen before in previous slides and presentations and posters, except:

1) The Affimer Therapeutics poster may be new (as with all the posters, it is undated) but I don't see an Affimer Diagnostics poster.

2)Different/fuller details of the number of patients in each cohort:

C1 now 4 was previously given as 4

C2 now 6 was previously given as 6

C3 now 8 was previously given as 6

C4 now 7 was previously given as 3

C5 now 4

3) But the main difference as far as I can see is the inclusion of the 'pre|CISION™ Commercial Strategy' slide (#11):

Entering commercial phase for pre|CISION TM platform following excellent human safety data and proof-of-concept for tumour targeting via FAP

AVA6000

• Progress AVA6000 through phase 1b to generate efficacy data and reach commercial stage for this asset

• Efficacy data is a key deal value driver

• Potentially partner AVA6000 for phase 2 pivotal study in soft tissue sarcoma

• Consider broader applications of AVA6000 in breast and ovarian cancer for example

AVA3996

• Progress AVA3996 through to IND filing in 2024

• Potential to partner early in specific solid tumour indications

pre|CISION™ Platform

• Potential to license pre|CISION TM platform for use with partners’ chemotoxins or drug conjugates

pre|CISION™ Pipeline

• Expand pre|CISION TM pipeline with modern highly potent chemotoxins such as those used as warheads in drug-

conjugates

-------------------------

What else is new that I may have missed from my admittedly quick scan?

It's just setting expectations for the AGM to be a disappointment to it. Same old same old.

Now I see the 100K buy after hours at 122.50, so what are all the 10,000 sales about? Sold by HCI or someone in lots and bought in bulk by the size buyer, with the MM making a very tidy profit on the price difference?

Ah, that'll be why the SP was going down then as the trades were going through.

What's going on?

Could this be HCI forward selling?

it makes no sense to me!

"I would be very disappointed if they were licensing out AVA6000 for a 10% royalty." That would be 10% royalties on sales + clinical development paid + milestone payments + fee for the rights to each geographical market. And all that for each indication: breast, colorectal, prostate, ovarian, etc, etc.

Another inhouse pre|CISION prodrug would be quite some way off. Much more likely I think would be for Avacta to licence out the platform non-exclusively to companies wanting to make prodrugs themselves. That could be very lucrative for Avacta and would provide a steady revenue stream.

An announcement of a £200m licensing deal would be nice, but too much to hope for as a coincidence I think.

The proximity of the wording in the RNS "no fundraising is imminent. Avacta has a strong cash balance of £27 million on its balance sheet as at 31 May (unaudited) and anticipates strong news flow in the coming months from across the Group" strongly suggests that revenue will come with that "strong news flow".

Yes, Agronomics issued a couple of Reach announcements about this yesterday and last Friday.

"I think that's a very reasonable deduction PL, if no side effects and evidence of efficacy why would you hold the earlier cohorts on the lower dosing levels? no good reason IMO

"However for fear of being labelled a 'fantasy based spreadsheet projectionist' I'd be interested to hear what our brilliant minded 'critical thinkers' like BV make of the suggestion."

Two reasons. (1) If the dose they've been on is stopping disease progression, why increase it? as (2) having a mixed doses history will dirty the data.

"[T]he vast majority [patients we are taking into phase 1a] don't have tumours that are treatable with Doxorubicin so we wouldn't expect efficacy with these patients."

This is a common misconception that keeps appearing again and again.

There is a difference between 'not [currently] treated with' doxorubicin and 'not treatable with' doxorubicin.

Many epithelial cancers are not treated with doxorubicin because the toxicity outweighs the efficacy benefit, plus there are better alternatives.

All epithelial cancers are treatable with doxorubicin if the side effects and cardiotoxicity can be suppressed.

All epithelial cancers have FAP in the TME which is why doxorubicin is cleaved off in the TME and appears in the biopsies.

All the epithelial cancers listed for Phase 1a could be treated with AVA6000.

Surely this is already catered for with FAPI-PET/CT scans? This will identify areas where FAP is concentrated. Avacta mentioned this at last year's AGM.

https://www.frontiersin.org/articles/10.3389/fonc.2022.854658/full

Just another spreadsheet-based fantasy projection but people lap it up because it provides what they want to hear. Critical thinking anyone?

Https://twitter.com/zalpzalp/status/1672236785038925825

I'm not sure that it says it anywhere but it is the nature of these oncology dose escalation studies. In the normal course of events, patients on such studies are offered an experimental drug with absolutely no promise that it will be therapeutically beneficial - it might even make them feel worse with side effects. So any patient who still has treatment options, the final line 4 care for instance, has the choice of taking that final line of treatment knowing it's not going to cure them or being altruistic and effectively donating their body to science whilst still alive. The ones on the AVA6000, whether they'd exhausted all treatment options or not, seem to have got lucky with the trial they're on, well some of them anyway.

This is too good to miss. Thornogson temporarily unbinned.

So Thorno, answer me this: if it's dark because it's night, and it's dark the following hour, and the following hour, does that mean that it'll be dark forever? Or could there be something unseen happening?

Thornogson desperately trying to keep the SP down. Keep trying.😂😂😂

TL is a fugging idiot.