So Last Week24 Mar 2019 07:29
I felt it was a very encouraging one, despite knowing about the Moditope Patent, the glycan news wasn"t, and Lindys award was out of the blue. The recognition of so many Peers who had just one nominee to choose shows us yet again the high esteem she is held in, brings her work at Scancell to the fore, and makes me even more confident our business with the Karolinska Institute has many more legs in it than ever.
Many views have been posted as to buys and sells, the difficulty in calling them, but ultimately on Wednesday a little over 3m shares were posted up and we rose 3.68%. Whether iis are buying or selling is speculative until confirmed but considering we always knock our PI base, if it wasn"t driven by iis then an awful lot of PIs bought. I will go for the former whilst City Financial and L& G have reduced holdings, there must be upwards of 60 iis who are shareholders and could just as easily be buying especially seeing our potential and the opportunity to increase their holdings well below the Placing price. Unlikely to find out for sure as they are all outside of having to declare (so far) significant holdings.
Again if not iis we rarely see volumes like 3m in a single day, so plenty of PIs adding or new holders taking a position, and i have mentioned a few times with the benefit of speaking with a few that Scancell are being well monitored as a comeback share. I can only remember 3m traded in a day a few times, mind you the total costs of them are far less than in previous times.
We have every reason to be hopeful of a deal, with BioNTech, Karolinska and even ISA calling their interest, and according to this bb last night we don"have a matter of weeks to negotiate but at least until SEPTEMBER, depending what the BOD wish to do, Forgetting forecasters ranging from 2p-5p I just cannot see a placing taking place at that level, but with the right advisors, legal and financial and interested parties have every right to think that, however much the risk exists.
Next weeks trading will be interesting too, and we know what RNSs we want to get, any one of those could well see us back into double figures, the City Financial debacle is not our fault, just a shame we are entangled in it. From no news a few appetites have been wetted, lets hope that is maintained at worst. So too next week, looking forward too it.