RE: Bermuda/Business Update H19 Sep 2019 07:37
Bearing all that in mind and it has been playing on mine the last couple of weeks, I said repeatedly that I understood somes frustration which was fuelled by the IND news, but in all honesty I had and I am pretty sure many others had too, expected the IND to be further delayed. We had a few reiterations as to the problem that existed, and it was frustrating that we couldn"t comment further on the situation as it was an issue between Ichor and the FDA.
My own frustration and disappointment was that we stalled at 10p rather than going through it, during the incredible rise from 3.6p, and further falling back albeit relatively slowly to the 7p level. We cannot blame many for profit taking or slicing after a riselike that but again the volumes weren"t that big, Fridays 4.65% fall was after just 101k shares had been sold and in two trades soon after 95k shares were bought to no movement back in the SP.
That frustration was softened by knowing a buyer was increasing their holdings and taking up the sells derived from our seller, recent news has given thought as to why our buyer was wanting nearly 1m shares a week.
So sentiment for a variety of reasons has been poor on this BB, during a time when good news is landing, and given we rose to 10p on the back of the Vulpes investment, the recent news is deserving of a higher M/Cap than the £34m which with an SP of 7/7.80 we are valued at.
It is my hope that we receive another tem of good news this week before the AGM, but regardless of that I thought we would go into the AGM at around 8p and pass 10p soon after. That is still my hope, considering the very good news from the glycans, news of patient enrolment has that really been priced in???
I would rather avoid my other reasons for the poor sentiment, and wish to apologise to you for getting involved in it, and can assure you that will not happen again, unfortunately the only way I can do that is by filtering a few people, not all for the same reason but Bermuda gave me the best advice of all a few years back reminding me that we cant change people or their agendas, again not all have a bad agenda.
So I hope I have got a few things off my mind this morning and sincerely hope building from ""sentiment starts at home"" we return to that now. I cannot think of another share on AIM where so much patience has been needed, and LTH be rewarded, I also cannot think of a time when Scancell have been in a better position than we are now, with many inflection points coming and a healthy cash position (circa £7m behind us) to build on. IMMHO the glycan news is exceptional and the licensing potential alone could at even £30m pay our expenditure for the next three years, more recruitment and trials in that period too, and believe me if you look at the kind of deals going down now that is a very conservative figure. A blue day coming!! Enjoy yours