Member Info for Che7win

Onetomany,

I value your inputs, but the excitement is for a reason.

They have a better handle on the drug, how to administer, what patients will respond, dosage, frequency.

They also have multiple partners which will soon be signed up to multiple deals on this.

This isn’t the only portfolio drug that they have, there are other deals that apI expect will be announced soon too.

The game has moved on from 2018, that the reason for the big news.

They have recently announced a groundbreaking patent for its lead asset P140, the world’s first “Immunormalizer,” offering a precision diagnostic and treatment approach for autoimmune diseases. With potential 20-year exclusivity, the patent targets patients with the newly identified “Type M” immune disorder, who are super-responders to P140, opening the door to safer, more effective therapies across up to 50 autoimmune conditions.

They have a first-in-class therapy and novel diagnostic tests which position them at the forefront of a $100bn treatment and $10bn diagnostics market.

There is a big prize for any company able to secure rights, make no mistake about that.

Actually, the last Phase 3 trial was not a spectacular fail. Despite the low dosage which was an obvious mistake, they were very close and some responders statistically shown significant response, but the trial was not set up correctly.

Some of the participants were on steroids, it was all wrong.

They have corrected those things.

Thanks ViKR.

Good point Popeye. I think IMM had around 150m shares in issue in 2018, so today they have around 502m, not including outstanding warrants.

Let’s say that’s 4 times the amount. But then the reformulated drug seems to be much potent with widespread application.

Can you or someone else help explain the patent a bit more.

I was invested 7 years ago when the previous trial just missed the mark because of under dosage and a badly set up trial.

I reinvested for the first time this week after losing heavily last time.

My question is on the patents. How does this new patent protect us from another company using the previous now expire patent to exploit the drug? Does the new patent sit under the expired patent to protect the new insights we have? That is my biggest concern here, not on the drug but in the patent protection.

Second question - does Avon still have rights to the drug?

Some background:

The original patent covering the P140 peptide—the active compound in Lupuzor—was filed in the early 2000s, with key filings dating back to 2002–2004. These patents were granted in multiple jurisdictions including the US and Europe.

The core composition-of-matter patent typically lasts 20 years from the filing date, which means the original patent would have expired around 2022–2024, depending on the exact filing and grant dates in each region. However, ImmuPharma has pursued additional patent families and extensions, including:

• Method-of-use patents for treating lupus and other autoimmune diseases

• Formulation and dosing patents to protect newer clinical strategies

• Licensing and regulatory exclusivity via Avion Pharmaceuticals in the US

So while the original P140 patent may have expired or be nearing expiry, follow-on IP and regulatory protections are still in play, especially as Lupuzor continues through clinical development phases.

This is an old flame of mine, bought back this week after many years, I’ve added four times today

Yet Statutory EPS fell due to higher share-based payment charges and amortisation of intangible assets—both non-cash accounting items that reduce reported profit but not operating performance A.

• The company also noted a slight increase in operating costs, tied to strategic investment in new asset finance products and platform upgrades A.

• Despite strong lending growth and margin resilience, these accounting adjustments diluted the bottom-line EPS figure.

“Turning a corner: Following a choppy period in which TXP suffered from drilling delays, continued high decline profiles at Cascadura and unfortunate placement outcomes, TXP will look to turn a corner in 2H25, as the Cascadura-4 and 5 wells come online, drilling commences on the Central Block and the Cascadura compression project gets underway. Together, this work programme should lead to a substantial increase in production from 4Q25.”

Excellent summary John.

To add to that, a lot of costs this quarter as they cuts costs in CB.

As example, the staff on 2 week on, 2 week off working patterns cost $35k per month with staff staying in site not needed. One off $500k to remove this.

A helicopter / helipad on standby, not needed.

CB monthly costs reduced so far from $1.5m per month to $350 to $500k or about $12m flowing to bottom line (pre-tax). Wow!

John Henry,

You are correct, it’s 15m more shares.

The figures I have been using include the original Oak 5m raise (if my figures were used, this is the confusion) , again as below:

Original deal back in May was 75,000,000 for £15,000,000.

We then only raised the £5m for 24,000,000 shares.

So now dilution is 90,000,000 for: (previous Oak £5m + £9.2 debenture + £1.2m warrants = ~£15.4m

Just a side note - the company who’ve every right to pursue Oak/Portillion for the breach of contract and I hope be able to make good on the extra dilution via this route.

I posted this as initial impression on Discord.

Rather like what they’ve achieved with this deal today so I’ve added at 14.0p.

My post from Discord:

“ they can convert the debenture into shares at just over 16p and the warrants at just over 20p.

KEY FACT FOR ME IS That they won’t dilute beyond 65,248,201 shares with today’s deal.

Original deal back in May was 75,000,000 for £15,000,000.

We then only raised the £5m for 24,000,000 shares.

So now dilution is 90,000,000 for: (previous Oak £5m + £9.2 debenture + £1.2m warrants = ~£15.4m

Not a bad deal….in fact extraordinarily good, I woukd say our prayers are answered.”

Correction of last line:

So gross revenue per quarter to TXP is ~$4.2m which is the figure for taxable income.

Touchstone Exploration’s Central Block acquisition is already proving to be a cashflow-positive move. Here’s a breakdown of the monthly net cashflow based on the most recent data from January to April 2025:

💰 Monthly Net Cashflow Breakdown (Central Block)

Source Gross Revenue (4 months) Net Revenue (4 months) Monthly Net Rev

LNG & Dom Gas Sal $8.9 million $5.8 million ~$1.45 million

Condensate Sales $1.0 million $0.65 million ~$0.16 million

Total $9.9 million. $6.4 million ~$1.6 million

Key Assumptions

• Figures are net of transportation, processing costs, but before 12.5% state royalty.

I’ll assume only 12.5% royalties have to be taken off before pretax profit, I.e. Opex is already included as they say this.

For Q1, TXP were making $6.4m over the 4 months or $1.6m per month from their published RNS.

So on a quarterly basis, they made $4.8m revenue, net of transportation, processing costs. Assuming the 12.5% state royalty comes after this, then we have:

• Royalty = $6.4M × 12.5% = $800,000

• Adjusted net revenue = $6.4M – $800K = ~$5.6M total, or ~$1.4M/month

So gross revenue per month to TXP is ~$4.2m which is the figure for taxable income.

Excellent update John,

Just what we needed to hear, the binding agreement is still in play. Some risk to upside that we immediately rise 10p on resolution.

But that is the nature of these wells. It’s also true that after the initial flush, these wells will produce for years to come at a lower, stable level.

That is why they need to keep drilling, but over time the stable production grows. Not a big deal, 2nd half should continue be good and sounds like an acquisition is also in the works.

“ The hydrocarbon intervals observed align with or exceed our pre-drill expectations and continue to enhance our understanding of the Cascadura structure as we integrate ongoing seismic interpretation."

They how the £5m and the CB should be $1.5m per month

Especially if Central Block is producing after tax profits of up to £1.5m per month

Took 10 mins to buy any today.

Interesting the Oak securities still show the full £15m raise for TXP is it not?

https://www.oak-securities.com/recent-news