Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
03/08 1st Deposit £2m received Shares Issued 1,953,543 / Warrants Issued 879,094
23/11 2nd Deposit / £300k received (shares issued 500,000?) Warrants Issued 227,892
12/03 further 1,500,000 shares issued (shortfall from previous shares sold?) No warrants issued
Total Shares issued to RF 3,953,543 / Total warrants issued 1,106,986
Looking at the larger sells in the last week and since 12/03 best guess RF have no shares left and we currently owe somewhere around £800/900k. As to what happens next I imagine we will find out next week if we issue any more shares but an update from the Bod would go a long way to draw a line under this.
RF must be out of shares now so if we do issue anymore or the Bod decide to settle then we should get notified next week. At least no more warrants will get issued as we wont be drawing down further so the agreement is finished in that regard.
Agreed Pot we cant see the contract so we don't know if they can keep requesting shares until the balance is settled or if the amounts of shares they can request are limited to certain times etc. Hopefully the Bod can give some clarity or its a wait until they ask for more...
Warrants Issued First Deposit 879,094
Warrants Issued Second Deposit 227,892
Total: 1,106,986 warrants
“As a result of the Fundraise, 1,106,986 warrants over new Ordinary Shares that have been issued to RiverFort Global Opportunities PCC Ltd ("Riverfort") as part of the drawdowns to date under the Equity Prepayment Facility (as announced on 3 August 2023), have had their exercise price rebased to the Placing Price in accordance with the terms of the agreement entered into at the time of the Equity Prepayment Facility. The Company does not intend to make any further withdrawals pursuant to the Equity Prepayment Facility with RiverFort.”
IMO they will license / partner covering costs for 2a if upcoming P1a results are good, also expecting it could be a much bigger cohort than they have suggested. Both our TYK2/JAK1 & CHK1 are hot assets right now....
News flow soon GLA
On the move....
https://www.biospace.com/employer/2030130/boundless-bio/
Well we got a heads up from them on the 19th Feb that "The multiple ascending dose (MAD) arm continues to onboard patients" Which the Bod didn’t announce... That’s the last cohort so + 8 weeks puts it around the 15th April + review.
Onwards and Upwards GLA
Good report still need to re read a few times lots of insights including outstanding RF shares I personally like Edison reports as they always seem to give that little more Info that the Bod are restricted with...
RF as at 31 December 2023 there was a balance of £1.6m remaining to be settled, and as of 26 March 2024 this balance was £1.1m. We had some V large sells go through on the 28th/2nd, IMO we owe somewhere around £800k+ the additional raise via WRAP :) No Idea how it all works not an accountant but looks like they now have the option to clear RF away /
With HbD figures + £0.7m Tax credits due in September that's a decent figure £3m and opens up many options. Previously the Bod and markets expect whoever licences 1801 will have the option to license 1802 so showing intent and actively moving 1802 forward would add more value to any deal being negotiated.
It looks and feels like all options are now on the table and there may be some licensing discussions already underway waiting on P1a results. GLA
Nice bodes well for SDC-1801 cant wait for the P1a data ;-)
"The expectation is that more indications could soon be tacked onto the development plan. Every time we read out positive data with this compound and look at it, it makes us feel like we should be doing more with it"
Most likely will be lost in the current noise but an interesting read and summary of where CHK1 currently stands showing different compounds PK/IC values and future directions…
In summary, CHK1i represent a thrilling new class of cancer therapeutic agents that target a crucial regulatory enzyme involved in DNA damage response and cell cycle checkpoint activation. The future prospects for CHK1i are bright, and a growing understanding of their mechanisms of action, identification of predictive biomarkers, and potential for combination therapy with other targeted agents poised to transform cancer treatment.
https://www.sciencedirect.com/science/article/pii/S2590098624000101
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Agree with some of that Pot but not forgetting the Bod are also blind on Full P1a data and also on 737 news, what they did have sight of is how oversubscribed the WRAP was so maybe keeping options open on continuation P1b etc….
No doubt all will be revealed soon we are very close to Mad preliminary data 32 weeks from 4th Sep puts that at 15th April and I was sure the trial design included some crossover of Mad cohorts…
There is certainly additional value with SDC-1802 being patented up in Autoimmune. Was interesting reading on why Brepocitinib TYK2/JAK1 failed its Lupus registration intent Phase 2 Unlucky for them and a bonus for SDC-180 (SAR20347) / SDC-1802 (SAR20351) https://apps.dtic.mil/sti/trecms/pdf/AD1087498.pdf
“Gline blamed the failure on high placebo response in the trial, according to a statement. Brepocitinib was tested in adult patients with moderate to severe active systemic lupus erythematosus. Efficacy was measured using a common scale for lupus called the Systemic Lupus Erythematosus Responder Index change of 4 (SRI-4).
We saw some of the highest SRI-4 responder rates ever observed in a lupus study in the active arm of this trial, along with a favorable safety and tolerability profile,” Gline said in the Monday release. “Unfortunately, we also saw the highest placebo response rate observed in any significant SLE study, and as such it was not possible to truly assess the impact of the drug, or to establish sufficient differentiation from other therapies in lupus patients.”
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