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The share price is beginning to move higher at last and it will interesting to see how the share does on Nasdaq shortly with futures looking very strong and US investors more clued in to Puretech than those in the UK.
I only wish I had some more funds to invest here but after buying 50,000 shares over the past weeks ,I have run out of ammo
Unprecedented
Absolutely
Puretech has some very exciting neuro therapies in its in house drug development but unlike Karuna , whose schizophrenia drug is awaiting FDA approval to launch after a successful Phase 3 trial and Vedanta whose drug is close to final trials, it is probably a year or more away from final FDA approvals.
Hence the usual big yawn from the Market who is not bothered.
While this is good news on Puretech's anxiety drug , it is still only a Phase 2(A) trial result so a long way to go.
This is not the news the market is waiting for .
It is clarification on the capital reallocation and potential large return of excess capital to shareholders.
I am expecting this to be announced, as promised by the company, within the next 2/3 weeks.
This has the potential to drive the share price to nearer true values of c £4 plus.
DYOR
Drew
Yes
Puretech are set to announce a capital reallocation plan possibly involving a return to shareholders of a large special dividend and the establishment of new foundation companies to incorporate its own in-house drug therapies.
It looks like Puretech is moving to a royalties/ milestone payments operation and will extract value from Karuna and Vedanta over the coming months.
Karuna could garner c $250m from Puretech's shareholding plus $ $400m from royalties sale.
Vedanta could unlock another another c$500m from its 42% shareholding plus additional funds from royalties and other payments.
Shareholder pressure is driving this change of strategy particularly from Invesco who have 24% of the company.
It could be very exciting.
Read the previous RNS from Puretech to see what it intimated was its plan.
ATB
Wildbunch
I think it was changed very recently.
Also Lisa is making further changes to the website today after contacted regarding some poor and repetitive wording.
She confirmed the company hopes to update the market on the progress of the Lupuzor trials " in the near future".
Make of that as you will!
50,000 buy of mine appears late as a sell at 1.7p.
Also I have emailed Lisa to signal our impatience on the lack of newsflow and also to ask her to amend Paragraph 2 under Investors on the Website as it repeats Paragraph 1....very shoddy indeed.
Lambo
In fairness the website didn't say delayed until 2024 just trial to commence 2023/2024 albeit 2023 is fast disappearing.
The only consolation is that Alora/Avion are still on board unless we hear otherwise
I am still 350,000 shy of my 500 ,000 buy order so not much selling going on at these near all time low levels
Machin
Thanks for that particularly from another long suffering investor.
I am seriously under water with 2.6m at c11p average so not feeling very smart but we are not dead yet even though Uncle Tim would frustrate a vicar .
Confirmation of the start of the Lupuzor trial and Alora/Avion continued commitment plus any other positive newsflow will really boost the share price .
As usual Mc Carthy will keep us all waiting although in fairness he is probably dependent on the actions of Avion in respect of the trial start.
Maybe next week!!!
Lambo
Got 100k filled at 1.7p.
My Broker is Cantor Fitzgerald.
Lord
Fully agree with you on your points but as someone here for 8 years I just wanted to see from other posters had they difficulty in filling buy orders.
Nothing more .