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McMuff, an excellent post as have your other AVCT posts been.
If I was to be a tad pedantic where you say ‘ Cohort 6 completed with left field change in trial approach nearly 6 months ago!’ it was in fact a little under 4.5 months ago.
Like many here believe the Company should be keeping us better updated.
Oh and re-reading that Sept interim results update I had forgotten we are close to 25% of Affyxell. I believe that stake will be worth a lot of money in the coming years.
A little hard to fathom the SP weakness post the bid extension.
The chance of a deal happening is surely more likely given continuing discussions otherwise would expect Ian to 'knock it in the head'. You would have to surmise there is agreement around what would be an acceptable offer.
Whilst we have a new deadline there is nothing to say we don't get an announcement before the end of the extended period confirming a deal has been struck.
Time will tell...
I note there is a positive update from Paul Hill on V O X. He suggests win win regards possible takeover or continue growth with European expansion. It seems SP dip this morning might relate to below comment in Paul's article;
"While 2H EBITDA margins (est 19.9%) dipped slightly compared to 1H (21.8%), this was likely a reflection of ongoing investment in the tech platform and overseas expansion (e.g. Belgium acquisition in June)"
Oakham, we are due a trading update for last 3 months (see below) this slipped as was due this last week;
https://www.equalsplc.com/content/investors/important-dates
Hi Oakham, I guess it will remain quiet on possible takeover until they decide if they are interested in making a formal bid or not. Not the type of thing where we will get commentary on progress.
We get trading update this coming week and that is the think to focus on now. Hoping for solid numbers and some initial progress on Equals Money Europe. Good news should ensure we get a decent price for any possible takeover.
Hoping we see usual V O X interview and/or something via IM platform.
GLA
There probably have been trades but LSE site not showing them today for some reason. I have bought 2 lots of a different stock that has moved up and no trades showing on that one either so a fault it would seem...
I am hopeful the upcoming trading update (w/c 8th Jan 24) will be well received.
In the half year results RNS we had this statement;
‘“The first half of 2023 saw strong growth which has continued into Q3 despite an uncertain macroeconomic environment. Given the current trading, and a robust sales pipeline, we look to the future with increased confidence, and we expect to be ahead of expectations for the full year”
They have advised numerous times since then that trading is in line with the Board’s expectations so fingers crossed. Strong results should mean we don’t succumb to a low bid.
Yes from 29th Nov RNS we had this statement;
"In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, Madison Dearborn Partners LLC is required, by not later than 5.00 pm on 27 December 2023, either to announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This revised PUSU Deadline may be extended with the consent of the Panel, at Equals' request, in accordance with Rule 2.6(c) of the Code"
I guess folks are surmising that if MDP LLC wanted to do the deal we might have heard by now and therefore are taking some off the table (aka selling a few). If there is no deal the SP will likely ease back further but I believe that would be a buying opportunity ahead of the Jan Trading Update which management have guided should be in line with their expectations.
This is AIMHO and good luck to holders here whichever way this goes.
Was nice to see the interim dividend being xferred from my income account to my NISA account today with HL.
Only 0.5p per share but better than a kick in the backside.
Will be received the final dividend or will we get taken out instead; time will tell.
We gave an interim updated early last Dec but silence so far this month...
Was just about to write up a few notes from today's Investor Meet (IM) when I found my notes from Full year Results IM of 6th April 22. I paste these below and note these are pre the fund raise / Launch acquisition etc.
Hard not to conclude we have made some serious progress in the 18 or so months since then if not with the SP!!
As we all k now PH1A extended due to better than expected patient tolerability.
Cash flow should last us well into 2023.
He said again Precision is exclusively licensed to Avacta.
He talked of the upcoming Poster for AACR conference and said it will outline why we are so excited. We will be presenting a lot of pre-clinical info at that.
6K is actually Dox itself.
3996 is an analogue of Velcade.
We are currently working through the 2nd cohort for 6K.
The 1st cohort was a little slow due to Covid.
We should finish Phase 1A at end Q2 or just creep into Q3.
He said in addition to London we now have Leeds, and Manchester open for trials.
We are in middle of C2 now at the higher dose; he said that the US sites should in Q2 contribute to the Phase 1A testing.
Talking about the data at end 1A he in addition to the PKI etc we may get a look at anti tumour activity in cancer types where Dox is a suitable treatment (based of FAP expression).
We will have the data in the middle of the year.
He said Therapeutics (TX) are moving from CB to London (White City) sharing with names like Novartis and Takeda.
The move already underway and should complete by the end of April.
We have really exciting few months ahead of us.
We have a strong balance sheet and options for non-dilutive funding should 1A results be good.
Hoping to go through 4 cohorts, with good 6K data in middle of the year we will have partnership options.
We have a very exciting summer ahead of us.
Immunoinsights is supposed to be the 'Jewel in the crown'.
As Rathgar noted CDT Lung sold for £13M cash yet the current mcap is now around £12M.
I asked Adam moons ago if he thought the 'expensive' US sales guys wages could be justified and he said he had no concerns they would earn their money.
Something is not looking good.
I think Adam needs to setup an interview with Paul Hill (V O X) and give a more detailed view of how he sees things going with what is left of the Business.
Worth reading the Chairman’s (Eliot Forster) statement from the Annual Report and accounts posted on website as per todays RNS.
It is on page 16.
Would post it here but iPad not playing ball for some reason.