Member Info for emptyend

You can take that view if you wish. My crystal ball doesn’t have that clarity.

I’m in the Donald Rumsfeld camp regarded knowns and unknowns.

No.

It may mean certain applications being held back, as with SC129.

“Lindy has more or less ruled out anything for mAbs for 2024”

Really?

She said she expected “at least” one deal in the 12 months to Jan 2025 and confirmed there were at least five parties negotiating for exclusivity.

As you say, usually no trades are made. So when was the last time a trade was made at 2pm?

My point was simply that someone was keener than usual to do something.

…….auction in middle of the day…..interesting.

I notice that the point about Charles being open to “alternative therapies” has more weight than I’d thought as, it emerged in December, he appointed Dr Michael Dixon to head the Royal Medical Household.

I imagine we still have room on the Modi-1 trial for another renal patient, if it were that…..😬

Good point about Charles’ openness to alternative therapies - but the chance of his medical gatekeepers suggesting vaccines is precisely nil. Probably bowel cancer anyway.

But there will be massively increased media interest in cancer-related stories in the very short term.

I was away when this came out. I assume it was spotted?

https://community.macmillan.org.uk/cancer-blogs/b/kidney-not/posts/two-years-on

Imagine what would happen if the first patient was Charles Rex……

….it won’t be…..but just imagine what would happen then…..😏

You’re definitely right on the CFO point, and it is “in the plan”. Perhaps quite soon? But I’ve previously been on a board which took its time in similar circumstances.

Re WG they clearly need to clarify. I imagine someone has got slightly ahead of themselves in drafting.

WG participated in the raise in December - and I guess brought in the new institutional investors. They have an interestingly-specific roster of clients:

https://wgpartners.co.uk/clients/

As to the Board, I suspect this may lead on to further changes. In particular, Redmile may join? Five directors is a reasonable number though, for this company’s size.

Probably unfair for me to say so, on the basis of a single presentation at the only AGM I’ve so far been able to attend, but the only member of senior management I met who I was underwhelmed by was Dr Adams. I’m inclined to regard this news as an upgrade.

This is primarily an asset play. Previous management didn’t seem bothered about whether they did a deal or not - they had no shortage of opportunities. It seems that the new team are willing to think outside the box…we’ll see what that produces.

Re

“Are they able to measure the strength of the T cells somehow? Is there a scale that can be used? Beyond that a dead tumor tissue with T cells present would be very conclusive evidence wouldn't it?”

As I understand it, unresected tumours can only be measured in terms of their physical measurements. But that is merely a measurement of mass, not a measure of the actual size of the actual cancer. I am interested to see the comparison of the before and after tumours after resection, because if the cancer cells have been killed by CD-8 or CD-4 cells, perhaps the remaining apparent tumour mass is at least partly composed of the killer cells and not the cancer?

Or perhaps the Pac-man image shouldn’t apply??

Re one of Ray’s points, it is interesting that five companies are seeking exclusivity for antibody deals. Because Genmab shows that such companies are willing to potentially pay half a billion pounds in payments for success.

One way to guarantee exclusivity is to buy the whole company…..and then one controls how many other exclusive deals are done with competitors, as well as controlling several complete platforms.

It makes no sense that the market cap is still only £100mn.

Perhaps now would be a good point to remind people of the Vulpes research note from a year ago, in which they described the then share price as “derisory”….

https://vulpesinvest.com/wp-content/uploads/2023/04/Scancell-report-20230412.pdf

Note that the really important bit of Trinity Delta’s note is the “likelihood of success” they apply to different platforms. Some of those riskings seem very low to me, given the early trial data - and they could easily be doubled, I think, before looking overly-optimistic. In fact, I would expect this to happen, later in the year.

Couple of new trial centres, I think?

On exclusivity, it is a good point to make that exclusivity may come in different forms. The most likely, IMO, is in the application of the antibody eg the combination with CPI.

Look out for patent-extending potential…?

Interesting to have five companies all looking for exclusivity etc. No wonder at least 1-2 deals expected this year. That will also extend the cash runway and/or will allow to move further along with development before partnering. And then there is the Q of milestone payments from GenMab……