Member Info for dallo

Puretech is so consistent in its ability to continually disappoint even in the light of an increasing NAV far exceeding its market cap.

The mystery of constant selling pressure as the SP reaches c140p or so is baffling despite Seaport's market cap nearing $1.2billion .

Two years ago the SP was 230p and since then Puretech has seen Seaport listed, Celea move closer to launching its Phase 3 trial for LYT-100 and Gallop progressing .

Cash is still an impressive c$260m and head office / R&D costs set to tumble to minimal levels compared to previous years.

The market reaction as always is total apathy .

All eyes now on the Celea financing and Cobenfy 2nd Quarter revenues from BMS as important near term catalysts .

Hopefully as Golfnut says this will spark a rerating of the moribund share price.

We live in hope.

ATB

Rock

Lift off ???

Share price tanking again

Now 131p

So sad

JSB

Puretech is a share that exists in another dimension of space-time with no relationship with this world.

Seaport soaring 10% to c$18 and Puretech drops again.

If Puretech was an AIM listed share it would have jumped by more than 100% on the Seaport listing and probably another 200/ 300% on the imminent Celea financing and subsequent valuation of possibly $1billion.

Sadly not for our old mucker stuck in a time warp of 120p to 150p for 11 years bar one breakout to 400p a few years back.

Unbelievable

Make that Seaport up c8%. to $17.25.

Seaport doing well today up 6% or so .

Meanwhile our little beauty is down again to near all time lows with minimal trading and zero investor interest.

Frustrating to say the least!

Trawl

Remember the US Depository Bank acts like a UK Market Maker insofar as when a US investor buys an ADS , the bank will buy 10 Puretech Ordinary shares in London and vice versa on a sale.

So no new shares issued by Puretech and US Bank makes a margin on the ADS/ UK share trade transactions.

The key over the last 10 days is how many ADSs were being held by US Investors prior to the delisting which led to corresponding sales of Puretech's Ordinary shares.

It appears almost all of Puretech's American Depository Shares have now been sold .

These shares entitled holders of the ADSs to 10 Ordinary shares in Puretech.

The ADSs were held by a US Depository Bank backed by Puretech Ordinary shares in the London market.

Accordingly the supporting UK shares were sold to redeem the ADSs and allow the US Depository bank to pay the US shareholders.

I don't know the quantum of the amounts involved but certainly it had a significant effect on the London Puretech share price over the past 10 days.

Also it means a loss in the number of US based $ shareholders in what is a totally US based and headquartered Puretech.

Hopefully now the share price can move ahead as we all eagerly await the key potential catalyst of the Celea financing.

ATB

The Puretech share is now fully delisted from Nasdaq

and trades on the OTC market which is a graveyard.

The delisting necessitated selling by certain US investors who cannot hold shares on an OTC market

and it appears there was a sizeable amount of Puretech shares offloaded by US investors as a result.

This appears to have effected trading in the shares in London .

Hopefully this explains the fall in the SP over the past week or so despite positive Broker upgrades.

Seaport going well in the US today with SP moving back over $18.

Escape

I fully agree.

I cannot believe the relentless selling with no support for the share price even as it crashes to 125p today.

Only a bid from Private Equity will stop the rot imho.

What a strange share Puretech is and always has been.

After the Shore Capital coverage we all thought the SP would move ahead.

Very disappointing indeed.

Well it only took a few days for the market to react to the Brokers upgrades ....by crashing the share price by c10% to near all time lows.

Nice and typical Puretech.

Daz

Do not accept your comments about Lyne

He was appointed Interim CEO in July 2025 and was part of the Management team for past 3 years.

There is still no permanent Chairman after a year and it is the same old strategy that has prevailed for the past 10 years with no improvement in the share price.

I have been in contact with the company over the past year and it is enterprise lacking in management skills and entrepreneurial acumen.

I said to Lyne that banging your head against a wall continually and hoping the next time it will not hurt as much is a fool's approach.

Karuna sold for $14 billion and Seaport valued at near $1 billion is a testament to this crazy conservative hub and spoke model and is an Etons Mess of failure with an all time low share price .

Surely, if after 11 years Puretech could say we created a model which increased Shareholder value by 10 times as Zohar promised 6 years ago we would

all believe in the concept.

Speaking of Etons Mess the proof of the pudding is in the eating.

At the moment it feels like pigs trotter with vanilla ice cream.

Another conundrum from the Investec note is the $500m investor financing for Celea for say a 50% /60% of the shares.

If some investors are willing to throw c$500 m for a slice of Celea, why not buy Puretech for say $750m and get all of Celea, Gallop , Seaport ( $280m) , Cash $250m and Cobenfy royalties and potentially Seaport royalties.

It's a no brained but no takers as yet.

Bizarre

128p says it all

A long way from £4

Daz

Fair but why has no one made an offer for Puretech apart from Nordic Capital in 2025 now that the value disconnect is being highlighted by Broker notes and a near all time low share price.

Today the SP is falling again and no trade volumes to speak of.

Surely someone sees value here and makes a move given , as you say, the boom in Pharma and drug acquisitions over the past year.

ATB

Most people here would take 160p and run.

August 2015 the share price was c140p and 11 years later it is 132p after 40% inflation and roaring stock markets since then.

The market does not want to know about Puretech and its bizarre hub and spoke model and the fact that Puretech raised c$4b in external financing through its founded entities since its IPO and its market cap is still only $400m is a stunning indictment of the failure of management and its strategy.

Awaiting Celea news and then decision time for me.

ATB

Share price being hammered today.

Hopefully no bad news on Celea financing.

Never-ending disappointment with Puretech.

Lesley

Citigroup haven't sold any shares in effect as it is its OTC Swap derivatives change occasionally for risk management arcane purposes.

It is the price big investors pay for moving temporarily through a notification holding ie up or down 16% marginally in the case of Citigroup requiring a standard holding change RNS .

Boring administration but keeps people in jobs until AI

takes over the function.

Boring day for us shareholders in Puretech as well.

ATB

Golfnut

Puretech market cap is c$460 m ( £340m) but taking account of cash ( $250m ) plus Seaport holding of c $300m the crazy undervaluation is still clearly evident.

ATB

Leerink also initiated coverage today on Seaport with a price target of $35 a share.

Enjoy

Thanks for this news on Shore Capital's initiation on Puretech and 400p price target.

Sometimes we all feel we are going mad here as nothing ever seems to budge the SP .

Maybe this time the tide has turned.

ATB