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Down today, risk off sentiment in the markets and also news that Conviction Life Sciences fund has postponed their IPO (again)
This was not a really major event for DEST, the main event will be news of the pending deal with a US Pharma, which we should learn about in the days/weeks ahead.
No need to panic.
GLA

XF-75 looks to be the right asset at the right time. Would not surprise me to see US pharmas sliding the rule over this asset with a view of getting on board early.

“The Centre for Disease Control's announcement clearly recognizes the need for new and effective decolonization agents and their importance for public health. They have made a clear call to simplify the pathway to regulatory approval and suggested the need for establishing new surrogate endpoints. Destiny Pharma views this as a very encouraging shift in the agency's thinking that could be very supportive to our clinical development of XF-73 Nasal”

The advanced Tiris uranium project in Mauritania is one of the better development projects in the uranium space at the moment.
However Haggan’s vanadium, uranium and battery metal potential is not priced in at all.

From recent reports:

“Aura also has a huge 15.1 billion pound vanadium resource at its polymetallic Häggån project in Sweden.

Häggån contains a high-grade vanadium zone, of 124Mt at 0.43% V2O5 for 1.1 billion pounds.

The project also contains sulphate of potash, plus nickel, molybdenum and zinc credits - and 800Mlb U3O8, which could have been seen as problematic given Sweden's ban on uranium mining.

However Aura intends to develop Häggån as a vanadium and battery metals hub.

"We'll continue to work with the Swedish government around the uranium mining ban just to give the optionality," Goodall said.

"But we want to move the project forward as a vanadium project, and we're working on a scoping study at the moment.

"If Sweden then decides to roll-back the uranium mining ban, that wouldn't necessarily trigger us to put uranium back in the project, that decision will be driven by the community.

"As it stands, it could produce a reasonably significant proportion of Sweden's domestic requirements for uranium, so there are some real positives from an energy security point of view. More importantly, the production of vanadium pentoxide in the European market could be a real positive for energy security, through use in vanadium redox flow batteries.

"But Häggån will be a battery metals hub, essentially, rather than just a mine … to make sure that it's fully supporting the green industrialisation strategies that Sweden has."

Could be transformative for Aura if Haggen is back in play. One of the largest Vanadium and Uranium resources globally

https://mobile.twitter.com/martinfrogers

Still all to play for here, sales growth of new products take time, especially unique innovative ones, but the trajectory of growth could be huge once it’s established as a ‘mandatory’ test in order to validate the effectiveness of the costly Checkpoint Inhibitor therapy

News of the deal could be anytime, ‘early in 2023’ could be Jan or Feb, either way we’ll have to be patient.
In the meantime a few posters on here are also keen to know when Conviction Life Sciences Fund will add DEST to their portfolio, the Fund is due to be launched very soon, subscriptions close in one week on 31st Jan and it starts trading on 3rd Feb.

Although FME have a very significant PGM resource already proven (in a mining friendly and safe jurisdiction) it hasn’t been noticed. However if the current exploration drilling validates a significant sulphide discovery in the deeper keel zone then watch this skyrocket.
As for Putin and his terrorist state, forget it, the world is shunning Russia for years, perhaps decades, they won’t want energy, metals or anything from them ever again, good riddance…

Very good update and in fact much better then I had anticipated. This M3 partnering deal will be transformative and a very attractive outcome for shareholders. I think there’s a very high chance of it completing early 2023 now, the market is likely holding off until it is confirmed, followed by a major shareprice rerate.
This is now my biggest and highest conviction hold.
In order to fund the rest of the clinical trials for M3 this ‘US Pharmaceutical company’ must be a major pharma with deep pockets.
GLA

Conviction Life Sciences Fund has extended its IPO date to 31 Jan to maximise their capital raise (which is understandable as there will be a much bigger institutional investment drive in the new year rather than now).
Credit to sajy for flagging this up and I am also certain that this fund will invest in DEST and they view it as a multi-bagger over the next few years.
It’s in their presentation (slide 26, Company C)
https://clsc-docs.s3-eu-west-2.amazonaws.com/CLSC-Investor-Presentation-NOV-2022.pdf

That’s quite a hefty valuation at 345p compared to where the shareprice is right now- Is this fair value a measure of the company’s current valuation if it was sold based on it’s lead assets or is this based on a future valuation on the outcome of both M3 and XF-73 phase 3 trials and ultimate approvals by FDA/EMA?

I tend to agree with sajy, DEST ticks all the boxes for CLSC along with a few other UK companies that are significantly undervalued when you take into account their clinical assets.
There’s no doubt CLSC will add a number of promising companies and DEST is likely to be one of them. There’s already rumours of a few companies in the press.
If there’s any funding to raise for the M3 phase 3 trial, it will be manageable as likely to be co-funded with a major partner,
(it might even be raised at a premium, just look at OBD’s recent raise at a 40% premium, shareprice was 14p and was raised at 20p) At the same time it’s also good to keep some power dry and add if necessary.

Good find sajy, I’ve just had a look at that new Bio Investment fund and the ipo will be in mid-Dec.
While there is no info about specific investments, I can well believe the repots that DEST will feature as a likely addition.
I’m also picked up quite a few myself as DEST is very undervalued due to the macro environment and low liquidity.
Just look at the 3 year chart and it is now bouncing off major support around 31p. In fact the chart looks like the company has actually failed clinical trials and has crashed , but in fact both phase 2 trials of its leading products were a big success and are now moving into pivotal phase 3 with FDA and EMA approved trial designs. The company is much better placed now then it was when the share price hit 175p which is quite staggering!
While it’s likely that some funds will be raised for phase 3, I think big pharma partners or funds will co-fund a large chunk of this and I can’t see why it should be sold off to such an extent, especially as it’s 2 main clinical products are best in class with no other company coming close in terms of competition.

Odey Asset Management now own 18.37% of the company, looks like they were the biggest investor by far in the recent placing. This is a big vote of confidence in OBD’s potential.

We know an advanced partnership deal is in progress and expected to be concluded this year, so it could be in days or weeks.
Definitely more buying interest now, I think it’s only upwards from here.
GLA

The Episwitch Platform will launch multiple diagnostic products in time, Episwitch CiRT is just the start.
Early stage detection of prostate cancer can be very significant. The product pipeline gives an overview of the potential here:

Product pipeline

After over a decade of research, the Group has developed both the world's largest 3D genomics knowledgebase (containing hundreds of millions of datapoints relating to over 30 diseases) and a pipeline of several deployable qPCR diagnostic, prognostic, predictive or monitoring tests across multiple indications.

The Group's knowledgebase offers an increasingly attractive information source for pharma and other partners to provide insights relevant to multiple aspects of disease modelling, drug discovery and clinical development programs. Access to it is already possible both through commercial research contracts and to purchasers of the Group's EpiSwitch® Explorer Array Kit. As such, the 3D genomics knowledgebase represents a significant opportunity for future commercialization.

The Company has now successfully developed, validated and launched two of its tests as commercial products, with valuable experience of the process gained with each of EpiSwitch® CST and EpiSwitch® CiRT. This experience provides the Group with increased confidence that the development, technology transfer and validation of subsequent LDTs can proceed to plan.

As previously announced, following review of the likely market opportunities for each of the deployable tests in the pipeline, the Group expects the most promising and lucrative candidates to be diagnostic/prognostic tests for early-stage detection and staging of prostate cancer and colorectal cancer and, in veterinary medicine, a diagnostic/prognostic test for canine lymphoma.

Existing big shareholders on the register including Vulpes Fund, Christian Hoyer Miller, Odey Hedge Fund will likely participate in the open offer at 20p as they can’t normally pick up shares in the open market due to liquidity ( if they did it will likely spike the shareprice much higher).
This leaves smaller investors being able to buy now below the offer price.
It’s possible that any newsflow will drive this above 20p before the offer period expires, then it will be a no brainer to add more with your allocation.
I’m keen to find out who has invested in the placing, this will be known after it closes. Investing at a significant premium is a big vote of confidence.

I knew this was seriously undervalued, funding done at 20p, a 40% premium to today’s shareprice. You don’t see that very often.
Now that funding risk is removed, I hope to see this revalue and reach new highs in the medium term, unique products in a high growth industry, huge potential

Aura has been added to Sprott’s Uranium ETF in the latest rebalance. Approx 25m shares purchased.

Looks like a significant flurry of big buys just after 14:30 today.
I tried dummy trades this afternoon (was getting selling price @ 44.2, buying price @ 45.25)

Interesting trades today, looks like several 20k buys, someone is keen