Member Info for dallo

Y
For clarification purposes Avion is a subsidiary of Alora Pharma , and Alora has other subsidiaries such as Acella Pharma and the recently acquired assets of the Osmotica company for c$175m.
Alora is the current large shareholder in Immupharma
not Avion.
Art Deas runs the Alora Group and is a large shareholder.
Alora will probably take out Immupharma once the FDA agrees the new clinical programme for Lupuzor which shouldn't take long as it based on the FDA recommendations contained in the recent letter.
Immupharma is toast and deservatively so as it has screwed up so often with dreadful management.
Todays RNS was the usual holding statement from Mc Carthy but the game is up imho.
Alora is now running the show and it is just a question of how much it is willing to pay for Immupharma.
Not dead yet but Alora can wait for 3/4 years to get approval for Lupuzor but Immupharma sadly cannot.
Good speculative buy at 3p but my average is 5 times that so bad news for me.

Moh
I agree with your observations as that is what the market is apparently discounting at present with the SP at c3.25p.
The delay in informing the shareholders is adding to the uncertainty but does suggest discussions are still ongoing .
If Alora/Avion walk away the options available to Immupharma will be narrow in the extreme.

Mystic
Yes...wishful thinking on my part re: large Pharma taking over Lupuzor if Alora bales out.
I think it now rests entirely with what Alora/Avion decide but they are making us wait and wait.
ATB

Nolupus
Whatever is happening I suspect that Immupharma will not remain independent and most likely become part of the Alora Group...
Alora bought Osmotica for over $170m ( including earn outs) and snaffling Immupharma for maybe $20/25m may be doable for them particularly if they have to spend more on bringing Lupuzor to a Phase 3 trial....just speculation on my part but Immupharma is in such a weak bargaining position and may have no other option because Alora has it over a barrel imho.
We await developments.

Immupharma know how to put its shareholders through the meat grinder.
What is going on with the discussions with Avion?
Have they gone back to the FDA for further clarification on the issues raised and are awaiting a response before deciding on the next steps.
If Avion is getting cold feet maybe another larger Pharma may take up the baton if it sees enough positives in the FDA's suggestions and recommendations...who knows .
Obviously all parties are still mulling over the next steps so there is still hope.
Nerve wracking as always here.
ATB to the poor long termers here.
I really hope we get some joy after so many years!

Nolupus
The point I was making is that one group of shareholders ie Directors is discussing the future of the company with another major shareholder and pivotal partner Alora and not updating other shareholders could give rise to confidential and insider information being available prior to it being released to the market.
I fully agree that the negotiating parties should not act on insider information but the UK Market Abuse Regulations require all shareholders to be made aware simultaneously of market sensitive information.
So we can assume if we trust all parties concerned that no such information is currently available so discussions continue.
As long as they don't mention sensitive stuff to their mates which we cannot do as we know nothing!!!
50 years in the markets has left me somewhat cynical I am afraid.

We are going to need some strong buying to shift the c1.5 m shares on offer between 4 and 5p.
I think we will need some positive newsflow to do this quickly and the small volumes at present will not shift them.
Why it is taking so long is a mystery and the delay can be viewed both as a positive or a negative depending on the various viewpoints .
Nothing to indicate a leak as yet but it is wrong that certain shareholders ( Alora and the Directors of Immupharma) have inside information on what is going on while the rest of us remain in the dark.
This situation cannot continue much longer imho.
ATB

Oscar
Surely the FDA are accommodating in its dialogue with Avion and assisting in a pathway to Lupuzor commercialisation otherwise it would have issued a written response killing any further development on specific grounds of efficacy and potential harm to trialists.
Whether Avion want to stay the course is clearly an issue but larger Pharmas would view this as an opportunity with clear FDA guidance in place.
Not over yet despite the awful SP
Best of luck

Large bid at close of 790,000 shares at 2.94p
Maybe nothing but interesting.

Jefferies reinitiates coverage of Puretech and sets price target of £5.
Market reaction ...yawn.
However it shows how a respected broker views the the undervaluation of the share price.
Zohar has badly handled the Nektar "approach " but has shown her hand to the market insofar as a willingness to discuss a takeover offer to maximise the valuation of Puretech.
The grouse is in the air now and the shotguns are ready imho.

Kerching
Agreed
Zohar badly handled this situation with Puretech SP down 15% in past 5 days while Nektar up 11% so market saying it is a Puretech misstep.
I think Invesco was trying to orchestrate a deal and the preliminary approach from Nektar should have been knocked down quickly by Puretech.
However it was advised following a leak to confirm this initial approach but when the market and Puretech investors said stop this nonsense it had to call a speedy halt imho.
One way to restore confidence is sell remaining stake in Karuna for c $230 approx and either massively increase the buyback and/or pay special dividend of say 50p a share.
Zohar needs to show that she is fit to manage a public company or we get someone who does.
Still think we may still be in play fwiiw.
ATB

The market reaction to Nektar's bid was so negative that Zohar had to terminate quickly before any further damage was done.
Sloppy work by Puretech who should never have exchanged any material with a deadbeat like Nektar.
However the market now knows that Puretech is up for a takeover so maybe it will spur some further interest.
I am relieved that the Nektar deal is dead.
ATB

Volume up to over 3m shares traded but bid just a smidgen above Fridays close so no real grounds for optimism just yet.
Needs to push on to stimulate more interest .
Agree that news on Avions continued support would drive SP back to 7/8p.
ATB

Not accounting for the value of the other founded entities...correction.
So the cash plus value of the shareholding in Karuna
is equal to the current market cap of Puretech
Bizarre

The analysis of Puretech is faulty by some commentators who have ignored Its remaining 3.5% shareholding in Karuna worth c $250m which when added to cash means that over$730m now in liquid assets and accounting for the value of holdings in the other quoted and unquoted founded entities.
Also the royalties , licence fees and milestone payments in these companies could be over $100/ 200m per annum if successful which alone could give a market cap of over $1billion plus for Puretech.
Management cannot conceivable entertain a bid of less than £5/6 a share.
That is why I suspect that Nektar is purely raising the grouse for a bidding war.
ATB

Nektar stock down 75% year to date.
Puretech should run a mile from this unless cash offer.

Malt
Agree
Looks like Invesco trying to strong arm a deal between 2 of its big Biotech Investments after a bad year for Invesco with record number of fund withdrawals after the Stock Market collapse.
Any deal will need a cash element for Puretech shareholders given the its strong Balance Sheet and the unrecognised values of its quoted and unquoted founded entities.
With some brokers putting an intrinsic valuation of over £8 a share for Puretech any low ball merger will not get shareholders/ management backing imho.

Surely Zohar is not going to do a deal that is destructive for the SP considering her own large holding and options.
Invesco has big holdings in both companies but cannot force a deal through without management and shareholders support.
Hopefully we may get another bid or reject Nektar and remain independent.

Market doesn't want Nektar shares in consideration for Puretech so either cash offer or another bidder needed.
Nextar not wanted obviously.

What a shocking market response
Unbelievable
Maybe prompt another offer