Member Info for dallo

Pokerchips

Well said.

To repeat myself why would Ashley Clarke join the company as CFO and Company Secretary and Crowe LLP , a top 10 International Accounting firm , as Auditors if no due diligence was done.

Why would the Board, CNRS, Alora Group and Nomad countenance the issue of last week's groundbreaking RNS Statement .

If this is another AIM fraud it requires a criminal collusion which is totally fanciful.

However if no commercial deals are done in the coming weeks or months then we may have issues to debate.

That is the investment decision we have to make but I for one believe it will happen.

DYOR

So to recap if the SP moves to and stays above 4p and all the warrants are exercised it will elicit the following funding result ie £1.9m from warrants plus 7/ 8 monthly payments of c £60,000 from Lanstead .

So funding secure for next 18months.

If we get a commercial/ partners deal with a sizeable upfront payment then we are off to the races.

The icing on the cake would be the warrants in Incanthera coming into the money again.

ATB

So if the share price goes above 4p and regardless of whether Lanstead exercises its warrants at 2p or not , the higher the Immupharma share price is above the benchmark of 2.6p under the Agreement means Lanstead must pay a higher monthly payment to Immupharma ie over £44,000

So if Lanstead takes up its 2p warrants when the Immupharma SP is above 4p it may have an unrealised gain but will have to pay Immupharma a much higher monthly payment.

Swings and roundabouts but good for Immupharma's funding in the short-term.

ATB

Peter Pharma

You are a very nasty piece of goods.

Firstly Lanstead is either gone or holding 24m shares and has to pay a monthly amount of c£50,000 until the end of August 2025.

If Lanstead has sold up it has done well and can exercise 70m warrants at 2p PROVIDED the SP hits 4p.

So Lanstead will be an equity holder with a base price of 2p pretty much what investors can buy in now for slightly more.

The warrants with also bring the Alora Group in for 22 m which is good news.

So where is the death spiral ?

86KB

I know the stock is listed as SETS based but almost all the trades are off book as the SETS system only operates large volumes on AIM.

So if you go to the London Stock Exchange and Immupharma you will see almost all trades are off book.

Cheers

86KB

Only the largest and most heavily traded stocks on AIM are SETS based .

Immupharma is not such a stock given its small market cap and illiquidity.

I am open to correction on this point but that is my clear understanding.

Secondly NO warrants have been exercised by Lanstead or Alora yet and the exercise of such warrants are contingent on the SP reaching 4p or above for a number of trading days which has not happened.

I agree Lanstead could be selling as its c25m shares remaining should have been easily offloaded with the liquidity of the past few days.

I hope that is the case and we get a TR-1 Form soon to confirm.

As management is still in San Francisco we will not hear of any commercial/ partnership deals for a number of weeks assuming they are close to signing .

ATB

The assignment of the numerous patents on the Peptide drugs to Immupharma France SA ( now Immupharma Biotech headed by Sebastian Goudreau) is listed on the French Justia website

Someone should report this Peterterm character.

Dangerous misinformation going on here.

Immupharma has a number of patents covering the P140 Peptide programme which were transferred to

Immupharma Franance SA now Immupharma Biotech in collaboration with CNRS.

The new proposals are expected to widen the coverage of existing patents to encompass the enhanced P140 formulations.

This is pathetic by this clown Peter term.

Google Immupharma drug patents.

I am getting tired of educating the uninformed on this board who do zero research.

Lord

Definitely my last post today.

If you doubt McCarthy's integrity and the veracity of last week's major RNS, then by implication you doubt the integrity of Dr Tim Franklin, Lisa Baderoon, Dr Laurence Reilly , Sebastian Gaudreau, CRNS, Alora group, Sparks Advisory ( the company's Nomad) who sanctioned and approved the RNS.

As I find such collusion utterly unbelievable, then my belief in the veracity of the RNS Statement is steadfast.

Over and out

Chat tomorrow.

Lord

I think you are being very unfair and unduly critical of Tim McCarthy given that he has spent most of his career in small UK Biotech companies where the chances of success are miniscule.

Look at most of the AIM biotechs and you will see nothing but disappointment and failure.

Cheers

Also in case you all are not totally bored senseless with my posts, I will add that the appointment of Ashley Clarke A.C.A as CFO and Company Secretary and the top 10 International Accounting firm Crowe LLP as Auditors is further evidence of progress by management in building and strengthening the company in advance of exciting developments ahead.

Remember the accounting function was outsourced before Ms Clarke's appointment.

ATB

Lord

My wording " ignored by the UK Financial Markets for reasons we all know ( ie delays, over exuberance , radio silence et al) should have been followed by a AND as investors run from from the UK Stock Markets particularly following Brexit."

Tim may be accused of being overly optimistic but I firmly believe he is trustworthy and honest and having built a new management team and a reinforced talented Board of Directors, the company is now looking to a brighter future .

The investment in Incanthera by Immupharma was not wise but the proceeds of our holding at 15p a share albeit at a loss gave Immupharma a major financial lifeline last year.

If Incanthera can sort out the patent issues, then our c7.3 m warrants at c9p may yet have value.

The key for me is the potential take up of the Immupharma warrants which will give us c£1.8m in funding.

Once the SP moves above 4p, the more certain the warrants exercise becomes.

The work done by Immupharma over the past year in relation to enhancing the P140 programme and securing proprietary ownership including patent protection was time consuming and difficult.

Great credit is due the team in Bordeaux supported by CNRS and Alora and other partners to produce the excellent developments announced in last weeks RNS.

I have been on the Immupharma roller coaster for over 8 years and fully understand your points of view.

However just maybe the patience of the LTHs will soon be rewarded.

Finally I think everyone is feeling a lot more optimistic than we were 1 week ago.

ATB

Cauldstream

No problem

Investors should be aware that the reason why there has been perceived delays in signing commercial partnership deals on the P140 drug therapies is that interested Pharma companies sought more information on the clinical research data particularly in relation to drug dosage levels ( new dosage levels in Lupus and CIPD trials will 10/15 times previously administered), disease and patients classification ( eg Lupus sufferers with positive Antibody markers who responded well to 1st Phase 3 Lupuzor trials), copperfastened proprietary ownership / patent protection for the clinically enhanced P140 drug therapies as detailed in the RNS last week plus detailed discussions on royalties/ milestones payments on successful commercialisation.

Investors should note that our Non Executive Director

Dr Laurence Reilly is a senior executive in Royalty Pharma , a multi billion $ US royalties buyer in the International Pharmaceuticals industry who have done a $400m royalties deal with another of my investments, Puretech Health which is listed in London and New York.

There are serious players in Immupharma ranging from CNRS, Europe's biggest scientific research Institute to the Alora Pharmaceuticals Group in the US.

Also look at the Immupharma website to see the list of Academic and Financial partners involved with Immupharma.

We have been ignored by the UK financial markets for reasons we all know as investors run from the UK Stock Markets particularly after Brexit.

This could be about to change dramatically for our company imho

Please do your own research if you are a serious investor and don't just rely on posters here.

ATB

Tiger

I am not sure you meant it was nice to be on a grown up "broad".

Fat fingers I hope!!

I have been reflecting on the RNS again and although most long -termers in Immupharma know Tim McCarthy to be effusive and optimistic in some of his pronouncements , the wording used in the RNS would had to have been approved by the Board and the Nomad.

For a company to use wording such as "Breakthrough, Innovative, New Discovery , significant steps towards personalised patient treatment , at the forefront of innovation in autoimmune disease therapies, patent protection , et al", and not to be true would be a criminal offence which knowing the Directors as I do, means the claims are based on fact and on the new research findings in Immupharma Biotech in Bordeaux.

Sebastian Goudreau , the head of company's French Subsidiary and main Board Director , also commented on and endorsed the wording used in the RNS.

Tim McCarthy is an FCA like myself and is a trusted honourable man and so we have every right to believe in the veracity of the RNS.

There are other AIM companies where this is not the case.

Just my musings as I watch the football.

ATB

Also

Tiger

I am more than happy that the Directors, managers and employees are incentived by the c36m share options.

It ensures they are motivated to succeed as it will reward them and us handsomely if they do.

Remember most of the options are conditional on certain milestones being achieved notably the dosing of the first patients in the Phase 3 Lupuzor trial.

Greed is a wonderful spur for management imho

Soulac

The company information includes out of the money options some at 11p and higher which explains the difference between my figure and the company's.

It is only a small number anyway

Cheers

Cauldstream

I forgot to add the 5m options granted to Sebastien Goudreau @2p making up the total options issued of c36m

Cauldstream

Approx 95m warrants to be exercised at 2p subject to share price reaching 4p or above..70m Lanstead, 22m Alora with around 3m company advisers.

There are c36m share options to Directors and staff as follows

Tim McCarthy 11.6 m ( 8m @2p and 3.6m at 5p)

Tim Franklin 9.5m ( 6.5 @ 2p and 3m at 5p/11p)

Lisa Baderoon 3m @2.24p

Laurence Reilly 2m @ 2.24p

Staff / Employees 5m @2p

Cauldstream there are no other warrants or options as far as I am aware so if Warrants and Options are all taken up there will be a further c130m shares issued but warrants are paid for at 2p

Hope that helps

ATB

Rock

Apologies

The KarXT royalties are due to Puretech from BMS at 2% on sales over $2b not $3b as I posted in error.

Fat fingers