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Poster abstracts for the BIO International Convention 2026 are typically published online about 1 to 2 weeks before the event begins. Given the convention takes place from 22-25 June , in San Diego, we can expect the abstracts to be officially released in early to mid-June. Once released, the full roster of posters and sessions can be searched directly on the BIO International Convention Schedule: https://convention.bio.org/program

Absolutely no surprise that the share price took a knock during the Q&A. Always happens! And not just with Avacta. Thankfully not too much of a knock today. Glad to pick up a few at near the lowest price. Can now expect a rise leading up to the ASCO abstract being published ahead of Friday 7am.

Is Brian's middle name Curt?

What you need to do VR is sell up, use the cash to get a shed and a bucket, mix up a concoction, test it on your pet and jab a passing OAP, and then get a mate to approve it for global sale as the latest wonder drug. That's the way for you to make money.

Yes, Avacta will be seen as a company with ideas that carries them through on a clearly defined timeline — and that the core IP still has almost 9 years to run!

With the data that are emerging, someday soon big farmer will start talking the sort of numbers for development ideas that might interest Avacta.

Looking forward to today's presentation, and especially the Q&A.

How readily would you sign an agreement to pay $40bn VR?

Just curious as to why no mention of TNBC as Avacta must surely still be committed to releasing TNBC data before the end of June.

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Year-end trading update (20 Jan 2026) — https://avacta.com/year-end-trading-update/

"In addition, the Company expects to release data in the TNBC cohort in H1 2026. Further development of faridoxorubicin will be undertaken subject to a partner being secured. The Company continues to engage with multiple partners as the data matures."

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Amendments to the Convertible Bond and equity fundraise of £3.25 million (29 Aug 2025) — https://avacta.com/amendments-to-the-convertible-bond-and-equity-fundraise-of-3-25-million/

"Upon the earlier of (i) the date on which the Company publishes the data readouts of its Phase 1b trials of FAP-Dox (AVA6000) in triple negative breast cancer and (ii) 30 June 2026, the Bondholder will have the right to accelerate the satisfaction (in cash or shares) of one of both the Deferred Repayments and in addition, from 1 October 2026, at any time accelerate the satisfaction of the quarterly repayments on the Convertible Bond, subject to a maximum of one acceleration per quarter"

Absolutely no mention of TNBC. Why?

Sorry, that was to pedro.

Do you think the share price will hold up tomorrow cj?

Yes, WE know that but Johnny Kaleidoscope — the likes of MT100 — will be looking at the balance sheet and moving on to the next distant crock of gold.

It will be an abstract, a teaser for what will be in the poster.

https://www.asco.org/abstracts-presentations/264652

Going by the confident demenour of management, the tone is likely to tend towards good data.

What people will be looking at tomorrow are cash holdings, cash runway and cash burn rate. They'll look at the clinical trial commitments and conclude that Avacta will need a placing and, absent some sort of licensing or partnering deal, they will.

Well he said DAR which is why I put it in quotes because it's the concept that matters.

Anyone wanting to know about drug-peptide ratios can put the term into their favourite AI engine to get full details.

I also spoke with FW about this in the context of AVA6207. He said 'DAR' would be an issue as the number of payloads increased.

In the pharmaceutical industry, DAR refers to the Drug-to-Antibody Ratio, which measures the average number of cytotoxic drug molecules attached to a single antibody in an Antibody-Drug Conjugate (ADC). A drug with a high DAR will often suffer from reduced solubility, leading to aggregation and stability issues in the body.

How DAR Impacts Solubility

• The Sweet Spot: Most clinically approved ADCs operate in a DAR of 2 to 8. However, a DAR exceeding 4 is known to diminish the aqueous solubility of the therapeutic payload.

• Hydrophobicity: When highly hydrophobic drugs are loaded onto an antibody at a high DAR, the conjugate becomes prone to clumping (aggregation) and rapid clearance in the bloodstream.

• Optimal Balance: The goal in ADC design is to maximize payload delivery without compromising the drug's stability or causing toxic off-target effects.

Enhancing ADC Solubility. To achieve a higher DAR while avoiding aggregation, scientists utilize specific formulation and chemical modifications:

• Hydrophilic Linkers: Using linkers incorporating polyethylene glycol (PEG) or sulfonates compensates for the low solubility of hydrophobic payloads, enabling a higher DAR.

• Specialized Technologies: Technologies such as ChetoSensar™ (chito-oligosaccharide technology) have been developed to dramatically increase the aqueous solubility of high-DAR constructs during ADC manufacturing.

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The AVA6103 patent (https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2026002995) contains many illustrations of compounds incorporating polyethyl glycol (PEG: -(CH2-CH2-O)n- ), which is a safe entity that increases solubility, e.g. https://patentscope.wipo.int/search/docs2/nat/WO2026002995/pic/leKvccEYCisW3IMVBteJLrnpgAw4SfMSgxAOv56Y0vXuXBTVDbrdvlGzxDsVXM_k2XCcdZYkaF1hsAdqs0PsMQ

Having a hydrophilic Affimer in there should do some if not all of the solubility heavy lifting.

You mean they are waiting to prove simultaneous delivery of 2 warheads with AVA6207 before moving on to 3 with AVA7100 (or AVA7311)? I can see how that makes sense as putting 3 warheads on a small molecule could lead to solubility issues.

We don't know whether an AVA7100 candidate has been selected. They never announced an AVA6103 candidate selection. But they have stopped talking about AVA7100. I suspect that is because AVA6207 is a much better proposition, given the limited financial resource available at the moment.

Ah teabag. That reminds me of a joke I heard several years ago, and I can rarely remember jokes.

An Indian Chief had three sons. The sons wondered how they had got their names so one day they asked their father.

The eldest son went first. "Father, why did you give me the name Rising Sun?"

"Well, Rising Sun," replied the Chief, "after you had been born I went out of the teepee and the first thing I saw was the sun rising."

"And me father, how did I get my name?" asked the second son.

"When I left the teepee after your birth Soaring Eagle, the first thing I saw was an eagle flying magnificently on high."

"So," asked the youngest son, "why did you call me Two Dogs F uc king?"

It was 9 days to upload it when they did a recording of the event back in October 2024.

Must have got bored of bothering nurses.

Oh eggy, eggy, caution in everything... https://www.youtube.com/watch?v=AJCGVkyUipM