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Derampers? You mean derampers other than the inept board of directors? They sure don't need any help given their broken promises of exponential sales growth and 3rd party purchases/licencing agreements to avoid the inevitable shareholder dilution arising from the recent placing. Most damning is their refusal to acknowledge the need for proper medical validation as a catalyst for meaningful sales. This share needs no help to continue it's downward spiral.
The first major shareholder to dismiss the offer as 'unattractive and opportunistic'. Expect others to reinforce this message.
BHP may find their managerial and strategic competence under fire. My bet is on a significantly improved offer to stave this off.
An all share offer that uses elements of the existing business to put finance the deal is beyond cheeky, its opportunistic and exploitative of existing shareholders. They will need to do much better than this offer and I suspect they know that.
Contracts for participants in Transform should be announced in the coming weeks. If OBD is not amongst the participants it will ensure another 2 or 3 placings minimum. At least two.just to keep.the lights on and another major placing to self finance the necessary large scale validation trials. Even our challenged CEO acknowledged that it was critical that OBD are involved in Transform. Expect the share price to drop back below 5p if they are not.
Their analysis is on the money. A good listen for existing and prospective shareholders.
The biggest hurdle they have to negotiate is getting proper validation and Burrows seems reluctant to acknowledge this. His stubborn belief that he can get market traction by peer to peer selling could well become a very expensive mistake for all concerned.
Co-founder and Chief Scientific Officer.
Bought into the placing at 9p but apparently only fo appearances sake. Selling off as soon as the SP dropped back to the placing price is not a vote of confidence.
It's all a bit tragic. Good science going to waste because they are clueless about commercialisation.
Might be worth dropping a line to the BUPA marketing g woman that was welcoming the deal via LinkedIn and ask her how many CiRTs they have bought to date and if the agreement to buy was unconditional which is the tone of the OBD RNS. It now feels like it was likely subject to recommendation by BUPA consultants hence the semi ar series to be ran this year. If I'm rightin that suspicion then the RNS was clearly misleading.
In another indication that liquid biopsy technology is a rapidly growing and competitive segment a new Alzheimers test is to leverage funding from charity and NIHR to secure rapid validation at scale.
Sounds kinda like Transform Prostate which Burrows said OBD 'must be involved in'. Shame he seems to have forgotten to include this 'must do' in his recent description of key corporate goals for the coming year. .
Hi Tav,
I think the following from the BUPA RNS could well be deemed to be misleading given that the latest information suggests the ongoing interaction with BUPA is to be a series of seminars for medics.
"Bupa UK health insurance customers being considered for checkpoint inhibitor immunotherapy will now be offered the smart blood test, which accurately predicts a cancer patient's response to the treatment
· The OBD Bupa UK partnership significantly enhances access to CiRT in the UK and reflects Bupa's commitment to leveraging advanced precision medicine testing to transform cancer care"
So the question is what %age of BUPA patients being considered for checkpoint immunotherapy have been offered the CiRT test to date?I strongly suspect the answer as of today would be zero. We certainly know that total sales of CiRT continued at a ludicrously low level at the last update, and most of those will be attributable to the US.
It appears to be a characteristic of this mob that they push out a 'positive' RNS to bump.up the share price whilst deliberately holding back an altogether less positive RNS just a few hours later.
Whatever happened to the non-dilutive financing all those named 3rd parties were clamouring to provide according to the greediest piggy?
We really can't believe a word they say.
So at last we seem to be getting some confirmation that when our board talk of "validated" tests, they are referring to laboratory validation and not the large scale randomised trial validation that doctors require before adopting a test routinely.
I notice too that recent pronouncements about the companies targets for 2024 make no mention of participation in the Transform trial (funded by Prostate Cancer UK and the Government). The probability that OBD will need to fund and manage such trials is a major risk of delay to mass commercial sales and would require further placings to finance. Burrows said participation in Transform was crucial so why isn't it in the company's targets for this year?
Ah. The return of the milkman's son.
If you would have gone to lend your support to the board you would know and wouldn't need to ask. Ignorance, borne of a lack of knowledge seems to follow you through life.
With respect Dibs that's a bit like guaranteeing the sun will set tonight.
The only people with sufficient clout to.make their life difficullt are the II's and even though they must be having doubts about him now, they will have had a major say in hos appointment.
Sadly Burrow's and his cronies don't give a t### about PI's as is evident from the lack of response to the many issues I and others have raised with investor relations. If folks like Aga do go to the AGM I hope they get a hearing but it will probably be stage managed to avoid disturbing the pigs feeding at the trough.
The BoD has a tendency to spin news and cannot be trusted to be transparent with shareholders. The announcement that sales were growing exponentially on a month by month basis is impossible to reconcile with the reality.The BUPA deal was met with a statement that all BUPA patients being considered for immunotherapy would undergo CIRT test has now morphed into a series of seminars aimed at convincing BUPA consultants that they should do so. Validated tests are lab validated only which is a million miles from the standards required for tests that potentially have life changing consequences for those acting on the results. I'd gladly see Burrows and his hangers-on replaced by a completely new board and senior management team. The only thing I believe about them is they virtually all have second jobs. Their salaries ain't bad for part-timers.
..this time it's a threat to the much vaunted product pipeline that 3rd parties are queuing up to licence.
https://www.proactiveinvestors.co.uk/companies/news/1043762/angle-shares-up-as-nhs-move-reveals-potential-of-liquid-biopsy-systems-1043762.html
The article contains an interesting remark about regulatory approval in the US.
WRT the AGM, It'd be worth asking what regulatory approvals are required for CIRT and PSE before we get unfettered access to the market and to what extent has this impacted commercialisation.
If they suggest it hasn't then I'd ask why they have charged Arivo and Mathis with getting tests included in medical guidance notes.
Hi Agakhan,
Can't find anything about Sean Kramer on OBD's linkedin. I wonder if they were announcing his recent appointment as CDO at Zero Prostate? Zero Prostate is a US based cancer charity that, as far as I'm aware, has no direct association with OBD.