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What really grinds me is how Mussat stands in front of investors and bashes the ‘markets’ for valuing ATOME’s share price in the 30-50p range. WHY WOULDN’T THEY?! He has failed to deliver FID in the timelines HE SET time and time again, and without FID, this company is nothing. They have had a HoT agreement with Yara for over a year and they still can’t deliver the definitive agreement in the timeline they publicised.

Their investor relations team don’t respond to emails and can’t keep investors updated on significant de-risking milestones that are now 6 weeks overdue.

These chaps need to take a hard look at themselves and sort their act out.

Where did you hear about the equity club being oversubscribed? I know the debt part was 4-5x oversubscribed, but never seen anything about the equity component being

Hey Alexa .... play 'The Sound of Silence' by Simon & Garfunkel.

All you have to do is look at some of the individuals engaging with OBD’s recent LinkedIn posts. Director of External Partnerships at GSK …. Senior Director at Pfizer …

OBD is on the radar of some MASSIVE pharmaceutical companies. As Iain says, it’s not a case of ‘if’ but ‘when’

It is absolutely massive. They have a superb product. We just need a big pharma to swoop it and take this forward.

It feels like all they’ve been doing is sitting back smoking cigars, lit by burning our bank notes. Might sponsor them to go on an investor relations 101 course.

Having invested in a few biotechs now, I can tell you that silence can be a very good thing. My last biotech was Checkpoint Therapeutics (listed on the US exchange) and it was deathly silent for months before they announced a buyout by big pharma. Turns out it was because they were all under NDAs. We will never know until we know, but don't always assume silence is a bad thing!

Another heavy (delayed) end of hours sell. Someone - not a retail investor - is offloading this quietly and in chunks. I’m quite concerned now and I’ve got a lot invested in this.

ATOME really need to pull their finger out now.

I think that's been the case for a while, Kennedy. Not sure if a reason was ever given, or if it's just a simple rebalancing of the debt package as IDB Invest's terms weren't as competitive as some of the other debt providers.

What really concerns me is that it's now over 5 weeks since we were meant to have a signed definitive offtake and complete equity club, yet there has been no reason given for the delays. There have been significantly more sells than buys over the last few weeks, which demonstrates investor confidence is very low. I don't disagree with other investors' views on here that this should and will happen eventually, but it's frustrating that the SP has dipped so much as the announcements (when they do come) will need a lot more impact to get this SP to where it should realistically be.

I'm aware of that, but in order for the debt package to be approved by IDB Invest's Board, the equity package needs to be agreed and committed.

I am not suggesting they do an RNS for a meeting having taken place, I'm suggesting there should be an RNS this week to confirm the equity package and also confirm the definitive Yara offtake agreement has been signed. Both of these things were promised to be complete by the end of June. It is 5 weeks since that has passed and we have had no formal communications from ATOME explaining the reasoning for the delays, which does nothing for investor confidence.

The IDB Invest Board Date is still set for next week (12/8) so you really ought to think there's going to be an RNS this week.

Very disappointing to see the SP have lost 25% from its recent highs. My concern still remains that ATOME are holding out for a SP resurgence to be able to raise some equity to participate in the club themselves. And a lower SP means even more dilution, if that turns out to be true.

No surprise the SP is where it is though. This company is seemingly unable to meet a single deadline they set for themselves. The only one I can think of is the EPC contract.

Comek2 - that is completely unacceptable behaviour. Go take a long hard look at yourself. Wishing prostate cancer visits someone?! Get off this board you disgusting human.

Hi Nursesteve. No worries, always good to have some decent and polite discussion on here.

Regarding timings, I have no idea. It could be as soon as next week, or it could be months away.

I did a bit of LinkedIn stalking and found the Chief Data Officer’s profile. He reposted something about recent study results and ended it with ‘To be continued …’.

I wonder if this is a signal that something big is in the works.

Hi NurseSteve

Your points about Iain Ross' previous directorships aren't incorrect; however, they lack significant context. Taking each in turn:

ReNeuron - Doesn't have a marketed, commercial-stage therapeutic. Its offerings remain in the R&D phase, which is VERY different to what we have with OBD, which has a tried & tested product that is already being used in practice, deployed by major health insurers & hospital groups. It is far more difficult to salvage a company that doesn't even have a revenue-earning portfolio.

Palla Pharma Limited - A combination of (1) the loss of key contracts and customers, and (2) crop-related (poppy seeds for the codeine product) challenges led to the downfall of Palla. OBD, like any biotech, would be exposed to supply chain issues, but weather-related concerns are nowhere near as relevant here.

Redx Pharma plc - Very similar to ReNeuron, in that it is a R&D-driven biotech company, with no approved or marketed products yet.

At the end of the day, OBD is a company under significant financial distress and lacks material revenue to fund its operations. There is every chance that Iain Ross won't be able to bring the deals in quick enough, and an inability to find funding could lead to yet another administration. However, balancing all the risks and rewards, I personally find it far more likely that OBD will be the subject of a significant partnership or buyout thanks to the products it has developed.

Globally, prostate cancer ranks among the top 3 cancers in men, and OBD has one of the very few products that can revolutionise diagnostic and treatment plans, which distinguish between aggressive cancer and low risk cases. An £11.7m market cap for such a company feels laughable, and I am more than willing to punt a few thousand Great British pounds into this one.

Couldn't agree more. I'm hoping it's all just down to summer holiday delays and the high complexity, but the fact Olivier told us all at the One2One investor event in June that the offtake agreement was just having the 'i's dotted and the 't's crossed, and equity partners were already known and agreed, and we've heard absolutely NOTHING on either of those since ..... you do wonder what they're not telling us.

OK call me crazy (I am going a little crazy waiting for this news which we keep getting told is around the corner) but I’ve spotted that a Senior Investment Manager from Impact Fund Denmark has liked a recent ATOME LinkedIn article about Paraguay.

For context, the IFD have publicly announced that they are looking to invest money into emerging regions, with up to 20% in Lat Am. https://impact-investor.com/ifu-changes-name-to-impact-fund-denmark-doubles-capital/

If I had to make a guess, I think this institution could be one of the big players in the equity club - hopefully being announced very soon.

Would love to see how this pans out.

And there they come .... 5.7m of buys reported after close. More still to come tonight / tomorrow is my guess.

Something is brewing and this is not a train you want to miss.

I expect to see a number of large orders being reported after close today, based on what we've seen come through. Someone (or multiple parties) are building a big position in OBD.

Begs the question ... what do they know that we don't???

Hi Kennedy - thanks for your message. I don't disagree with you about the strength of the investment case and recent positive news here. I do, however, maintain my statement around delays. Investors were told that the definitive offtake agreement and equity club agreements would be completed by end June. We are now nearing the end of July and the only updates we've had - hidden within RNS notifications about debt achievements - are that these are still ongoing. There is no explanation as to why, which is likely scaring a lot of investors away.

I fully intend to hold (and you'll see from my post below I bought another £5k earlier this week) but it's slow progress

I've been keeping an eye on the trading activity over the last week or so and there's been a large number of sells with very few buys.

As frustrated as I am with the delays (and lack of communication about these delays), I really cannot understand why people are selling their shares when huge news is (supposedly) right around the corner.

I would be keen to understand with others on here think the SP will be once the Yara offtake and equity club completion is announced (i.e. the two next milestones that were advised in the latest corporate presentation). The FV of ATOME's 20% free carry is about £45m, which would give a SP of roughly 85p. That doesn't even give any consideration to future pipeline projects etc.

Do we think the SP will be in the 80p range before FID is announced, or exceeding £1?