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The key message from today's RNS is not so much the appointment of Lyne as permanent CEO but that the primary strategic focus is now on running a drastically trimmed down operation with minimal overheads following the financing of Celea and Gallop and the potential return of cash to shareholders via buybacks et al.

It looks like a major tidying up exercise to present a clean and recognisable business to any possible acquirer.

It certainly doesn't appear to be a strategy for growth and expansion which you might expect to hear from a new CEO.

I wonder why Puretech didn't make Berber-Liu the permanent Chair...strange.

BMS announced today that it was commencing a Phase 3 trial for Cobenfy treatment of Schizophrenia in adolescents .

A successful trial would add significant value to Cobenfy and potential revenues for BMS and in turn royalties to Puretech.

Market reaction in the US ...zilch as usual.

Practically no trading in Puretech today .

ATB

Escape

The only problem with your thesis is that the Nasdaq Biotechnology Index is up 33% over past 6 months while Puretech is down 16%.

I am still at a total loss as to why this is the case.

Nothing makes any sense anymore to me when it comes to Puretech and its dreadful share price performance over the past 5 years and more.

Maybe Tang Capital can shake things up or Nordic Capital will come back with another bid.

Meanwhile we sit and wait for Godot!

Lesley

Simply Wall Street is an utterly ridiculous AI driven number crunching site based on standard accounting ratios which do not apply to companies like Puretech.

Simply Wall Street is probably the worst of the parasite Stock Market bulletins and should be completely ignored.

ATB

Frank

Under UK Corporate Governance legislation there is no maximum time set for Acting Directors including Chairman and CEO.

However there is a normal practice acceptable to shareholders of a period of a few months to appoint a permanent Chairman or CEO.

This has not happened in Puretech who issued an asinine RNS following discussions with major shareholders on remuneration policy and Director attendance at Board meetings.

Nordic Capital made an offer earlier in the year of around £2 a share ( allegedly) which was rejected

With the good news from Celea and Gallop any offer over that figure may win the day.

The company is for sale imho and it is now all about what the Institutional investors will accept.

Rubbish talk about appointing 2 UK based Non Executive Directors ignores the fact we haven't a permanent Chairman or CEO appointed as yet.

Bizarre behaviour from a Publicly Listed Company.

Sadly for Berber-Liu and Robert Lyne as Interim Chair and CEO respectively, their chances of becoming permanent in their positions may be hampered by the fact that the Share Price has fallen 17% since they were appointed in early July.

In addition it is a serious negative for investors to see the two most senior positions in the company being Interim appointments and for a period of six months and counting.

Very poor by the Board but whats new.

Snowking

That's seems right

I just don't understand why a long-term holder sold after 2 really positive RNSs.

Just another vote of no confidence in the company.

Maybe we may get another Holding RNS tomorrow on Tang and / or someone else accumulating.

Very disappointing nonetheless.

Looks like Baillie Gifford sold c1.2m shares over past few days

That will certainly thrash the SP

Longstanding shareholders, Baillie Gifford selling sadly.

Then some rubbish findings following on from dialogue with major institutional shareholders on remuneration and one Director's Board Meeting attendance.

Utter irrelevant garbage

Share price now lower than it was pre Friday RNS regarding Gallop LYT-200.

Unbelievable

Escape

Sadly the derisory market reaction to 2 fantastic RNSs

means there is now little hope for a share price uplift in the medium term bar a takeover with the financing of Celea early next year unlikely to generate any excitement given the past experience.

So 2027 /2028 for final readouts on LYT-100 and LYT-200 Trials is a lifetime away in Stock Market terms and all the while cash balance is being run down.

The failure to appoint a permanent Chair and CEO to date may be because the Board is hoping for a bid under pressure from totally disaffected Institutional shareholders.

A takeover is our only hope now I am afraid as otherwise the SP will continue to fall.

ATB

Puretech shares down 6% on Nasdaq amid investors concerns at delay in commencing Phase 3 trial for LYT-100 until 1st half of 2026 according to Investing .Com which is total AI rubbish.

Bizarre series of events here in Puretech, unprecedented in my 50 years in the markets.

Institutional investors such as Invesco, Vanguard, Lansdowne own c70% of the shares with Directors / management/ insiders owning c15% so tiny free float.

Puretech has the look of a company being primed for a takeover at a price which the Institutional investors will be happy with..

Appointing two UK Non Executive Directors is an absolute joke given 100% of the company's activities are in the US.

Puretech needs top level broker coverage and analysis which is conspicuously absent at the moment.

I fully expect another approach for the company very soon as the SP slides further.

Golfnut

I am truly gutted at the SP reaction today .

At worst I was expecting a 15/20% uplift but looking at Level 2 we could be down at the end of the day.

Speechless

Golfnut

Puretech exists in another dimension possibly in a parallel Universe where the basic laws of physics and the Stock Market are the inverse to our Universe norms.

I cannot believe the marker reaction today but hey I have been invested here for 6 years now.

In any other company we would expect a 50% plus rise

on the newsflow today and last Friday but Puretech has barely budged from it near all time low share price

and still down 18% year to date and during a stock market boom.

I don't blame the management today but what is wrong with the markets understanding of Puretech that every piece of good news is ignored.

The Private Equity players must be licking their chops at this incredible anomaly in the market and getting ready to bounce imho.

It will be interesting to see if Tang increases today and what happens the crazy short position.

ATB

Actually the ASH Conference is over 3 days finishing tomorrow so we will probably get a RNS on Wednesday regarding enhanced Gallop trial data.

Don't forget Seaport's Glyph drug for anxiety is in Phase 2 at present with results due in early 2026....it could be another Cobenfy.

Looking good

Fingers crossed for an interesting day today

Major RNS on Celea with FDA agreement on LYT-100 Phase 3 protocols and financing to be finalised in early 2026.

Possible further RNS later on Gallop today following ASH conference on Saturday with more exciting news on LYT-200 trial results.

Top class

Excellent

The survival rates for AML patients undertaking the LYT-200 IB Trial was 13.2 months based on the proposed Phase 2 dosage are extraordinary and may be higher as some patients are continuing on LYT-200 past the 13.2 months with updated mortality rates to be announced during the first half of 2026.

Also patients were given proposed Phase 2 dosages during the Phase 1b trial making the potential Phase 2 outcomes much more measurable and easier to enhance.

Maybe we will see Tang and Nordic making a move tomorrow.

ATB

The Puretech share price on Nasdaq soared 14% immediately after the 1pm US time RNS on the Gallop LYT-200 trial results.

If more significant additional news on LYT-200 is released tomorrow we could have a very interesting opening in London on Monday morning.

Rock

Maybe the market has finally woken up to the Gallop with the SP on Nasdaq moving from 3% down to 7.5% up at close.

Also significant more data on Gallop's LYT-200 Phase 1B trial results to be revealed at the US Conference tomorrow.

Maybe next week could be a great week for us all particularly if news on LYT-100 drops.

ATB