Member Info for DugWalker

The value of these tests to BUPA is in marketing. Check who posted on social media about CIRT.

Surprised that a nurse thinks doctors will use unvalidated tests to make life changing decisions when alternatives such as MRI exist. OBD can't even get the PSE test included in the nationwide screening trial currently underway.

This is purely a commercial announcement and it most certainly does not represent clinical validation.

The previous CIRT announcement read very similarly yet it has resulted in insignificant take up of the test by BUPA medics. In fact they demanded that OBD run workshops for BUPA doctors to ensure they were adequately informed about the test (including its validation status).

What this is, is confirmation that OBD still doesn't prioritise clinical validation in spite of the evidence that doctors will not facilitate commercialisation of unvalidated tests.

The fundamental issue regarding cash flow are the production levels, timing of new permits landing and PXEN's ability to influence drilling schedules. Given the timelinrs for consultation and other regulatory requirements in Spain and Italy it would be surprising to see drilling at Selva for El Romeral until q4 earliest. By then we will have had 6 months of increased production from the new Viura well to be drilled imminently. I can see the 3 wells at El Rom being back to back as they are shallow and quick to drill. Selva is most likely to be a sequenced drill schedule and PXEN should have some influence on the timing. Personally I think the liklihood of further raises being required is vanishingly small and Mark Routh has said as much. On the other hand production levels should be hugely increased in the coming 12-18 months.

@billyrvalèntine.

Had You read the RNS you would have noted that the CEO was lamented a lack of focus and he is intent on focusing on the most established products. I don't envisage a growing pipeline of products.

He also refers to all products being ""potentially valuable" and recognises much needs to be done very quickly to realise value.

At best expect more significant dilution as more money will need too be raised soon.

Today's RNS continues to pose key and critical questions as to the direction of the company.

Whilst it is, at last, encouraging to have recognition of the need gor '3rd party validation' of the tests. I am left unsure as to what '3rd party validation' means. Anything short of full clinical validation will, in my opinion, fall short of what is desperately needed to realise the commercial potential.

Cost cutting measures appear to focus on reduction in patent cossts. The new CEO recognises the major contribution that increased staffing costs have made to corporate loss making, but where is the remedy?

Another unconvincing and worrying RNS and the inclusion of the following statement is fully warranted.

The Group enters the remainder of 2025 with replenished but limited cash resources. The Directors have concluded, as was the case at the previous year end, that material uncertainties exist which may cast significant doubt on the Group and Company's ability to continue as a going concern.

Have asked, via the Q&A, when we can anticipate a reserves update and if he anticipates a revised broker note based on that. Also enquired about PXEN's ability to prioritise or otherwise influence drilling schedules so as a means to manage a rapidly developing balance sheet.

Considering that the annual burn rate has been of the order £8 million by the end of March they will have spent about £2 million of the recent raise and loan. The £1 million loan from Vulpes will also have been repaid by then as well as the £111k arrangement fee. Presumably there will have been a chunky pay off to Burrows in return for his resignation. Even 6 months salary would have taken another £250k from the coffers. The company has continued to expand R&D and marketing costs to develop and promote new products. There has been no plan to cut costs and, astonishingly we still have a Labs in Maryland, Oxford and Malaysia.

Suspect the '7 million in the bank' will bave halved in just a few months. No reason to think this should be a good day for investors.

In the grand scheme of things 4 months to drill 5 months to production is neither here nor there.. It has been a long road to reach these final hurdles and the main takeaway here is that it signals another critical step in the growth of PXEN from an investment company into a major producer o cheapf European onshore gas.

It will drop but not by a huge amount. Europe will remain reluctant to restore reliance on Russian gas. There will also be reluctance to be overly dependent on Trump's LNG due to his Tariffs and unpredictability. Demand will continue to increase as gas replaces coal and oil in many applications. A gradual slide back to low 40's would be my gut feel. Viura is profitable above 31. PXEN mcap will still look stupidly low at current level.

The almost worthwhile opportunity out there is retrospective participation in the Transform project. Write to Prostate Cancer UK and they will happily tell you the project was designed to allow for participation of promising technologies post the launch.

Why has OBD continued to shun the opportunity to have thousands of blood samples collected by the NHS sent to them for screening by PSE? Not only would this save OBD costs of large scale trials but it would ensure clinical validation and guarantee adoption by the NHS.

Why do they continue to waste time effort and money in development of worthless 'partnerships'?

Here's an appropriate proverb

Mistakes are costly and somebody must pay. The time to correct a mistake is before it is made. The causes of mistakes are, first, I didn’t know; second, I didn’t think; third, I didn’t care.

It is most appropriate for those that continue to ignore the absence of clinical validation for any of these tests.

I posted previously about lab validation Vs clinical validation for those smart enough to pay attention

Profound. The journey does need to be in a worthwhile direction and this is more of the same nonsense that has brought this company to its knees.

Focus on clinical validation and maybe one of these partnerships will deliver. Until then it is fluff to bring in a few retail investors with an opening spread of 20%.

Like the BUPA 'partnership' all over again. This time the CIRT and PSE tests will be 'made available to patients' in Romania (Were they being withheld previously?).

For those needing a reminder BUPA has bought a handful of tests (if that many!) since signing their partnership agreement with OBD. It's telling that shortly after information was circulated to BUPA oncologists they requested that OBD arrange a series of workshops to ensure the doctors were fully informed as to the pros, cons and validation status. The result has been negligible sales via the partnership, though it did provide a temporary marketing boost for BUPA.

One of these days they might announce the sort of partnership that really counts, namely a sales contract with guaranteed revenues, but I won't hold my breath.

The last RNS confirming the issue of shares to cover part of the Director's inflated salaries was in December. Since the placing the snouts have been firmly back in the trough, hoovering up shareholder money at an undiminished rate.

Commentators encouraging others to contribute to the maintainable of directors lifestyles could at least check such simple facts before posting misinformation.

The snouts are back in the trough and the inflated salaries that account for a huge chunk of the outgoings of OBD are fully reinstated. Won't take them long to burn through the £6 million as the company accounts confirm..

It's all out there for folks that wish to be informed.

Worth noting that the opex for pxen is exceptionally low. A 25% lift in revenue translates to a very similar increase in profit.

Printing money at a phenomenal rate now. No debts, warrents or CLN's. Just profit and growth from here.

If ever there was acknowledgement of ramping it's in a post headlined '1p plus soon' and pleading with others to ignore 'derampers'.

Why don't you address the legitimate issues I raise? It would be much more convincing explanation of why you think this is a good investment.

The company just raised 6 million but has done nothing to reduce costs. In fact they have spread resources even more thinly by adding yet another 'product' to develop, validate and market. There is little prospect that they will increase sales to the point of reaching break even in the foreseeable future. Short of a larger pharma company pumping money in to buy a series of unvalidated tests another placing will be required this year. This is a statement of the facts so let's hear why you think it's deramping.

I'm just a considerate sort Warrie so no need for thanks. After all it costs me nothing to offer the benefit of my experience as an OBD shareholder.

As it's the weekend and you apparently have time on your hands may I suggest you research the Transform project being run by Prostate Cancer U.K.? They have recruited thousands of patients to participate in a large scale trial of technologies that could be a basis for a national screening programme for prostate cancer. Prostate Cancer UK are aware of the OBD test and the Transform project could provide OBD with all the blood samples needed to fully validate the PSE test to regulatory standards. Burrows even said OBD's participation was 'critical' but he failed to push on the open door. Interesting don't you think?

The 'impact of rampers' hasiba is that they all too often persuade people that don't do their own research, or are incapable of understanding what they read, to throw money at very poor investments. If I can make just a few of those folks do their own research or, better still, stop people investing in a lifestyle company, I feel mÿ efforts worthwhile.

Very happy if my comments are reducing the impact of rampers. Might save some caught up in the baseless enthusiasm a bit of their hard earned.

Heard it all before.

PSA, CIRT and Vetrinary tests have all been subject of 'commercial discussions' and in some cases they even signed agreements with e.g. BUPA. Transpired that BUPA wanted more information from workshops with OBD.

Bottom line is obvious from sales figures and resignation of last CEO (leaving behind the entire 'sales' team he appointed.

OBD just had a placing to keep the doors open. The new CEO has done nothing to reduce costs. There will be no step change in sales in the short/medium term and another placing will follow in a few months time.