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Especially this:
-the development and trial of new COVID-19 treatments and vaccines
-making UK clinical research delivery easier through more rapid ethics reviews and faster approval processes

Given how difficult it will be to find naive volunteers (un-vaccinated) after the UK's successful vaccine rollout - this has to indicate human challenge trials as a way forward.

This looks very good for ORPH

I thought it might be worth posting a reminder about the strategic position ORPH has carved out for itself over the last year or so.
I'm not including everything - but a few highlights are:

- Welcome Trust / Hivac Lead on developing standards for Challenge Studies : https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/944308/VTF_Interim_report_-_5th_publication.pdf

- Written into UK Government's Vaccine Taskforce Plan (actually named):
https://www.lse.co.uk/rns/ORPH/collaboration-with-hic-vac-and-wellcome-trust-7fdwasrfpot5t0q.html

- Large UK Government Contract (46million, first stage - characterisation - almost complete/complete)

- Given the Royal Free quarantine unit by the government to use for Covid Challenge Studies

- 3rd Facility paid for (refit + year 1) by a client

- Multiple new Challenge agents in development

No-one is happy with delays, or with the share price retracing from a great high, but I think it is worth stepping back, looking what has been achieved (and the 1 year SP chart :-) .

I'm not trying to diminish share-holder concerns about delays, I'm frustrated too... However that frustration is in the context of a huge year of achievements.

Have a great day everyone - I'm going to crawl back under my rock till the next RNS drops

Will Tim be able to release any 'material' new information in this presentation - or will that have to be RNS'd?
I think what we are looking out for is tone and language (and a bloody big grin possibly ;-) in the presentation.
Should be interesting...

I'm definitely not an accountant, but from my basic reading of the accounts.

ORPH had 20.6 million revenue from customers last year (six times the previous year)
There was 19.2 million cash at bank.
There was 15.6 million deferred incoming (contracts booked for this year I'm assuming)

And all this from the transition year when the new structures and efficiencies were being put in place.

If we can put aside CF's exuberance (not easy, I know :-) and some of our own expectations for the future of ORPH... This is bl**dy brilliant. Seriously.

This is the base on which all the expected news flow will now build.
It is a really strong base.
Personally, I'm happy with this. Have a great Friday everyone.

Thanks KingSuarez - much appreciated. Good to get an accountants view on the report.

That is how I read the update. However, given the huge pressure for treatments, and the governments desire to fast-track... I wouldn't be surprised if events move more swiftly.

https://www.gov.uk/government/news/sir-richard-sykes-appointed-chair-of-vaccine-taskforce

This is the man who led the review into the performance of the Vaccine Taskforce, praising the ability to run human challenge trials and specifically mentioning Hvivo.
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/944308/VTF_Interim_report_-_5th_publication.pdf

Just thought this worth stating again - we are very much part of the UK Government's future planning. There is a lot of news to come on this imho...
Have a good day everyone

Cum Vol: 74,304,130

ORPH - Open Orphan is my main holding. Super happy to be back in SAR now too.
Will take this opportunity to say thank you to the long time holders and posters here - you know who you are ;-) . I am genuinely made up for you guys - you have ridden the ups and downs and stayed strong. Have a great weekend all…

Hey Padrock
Yes, I personally think it is fair that CF and the board have some extra benefit from driving the spin-offs.
Most boards take bonuses of some type - at least here, by tying it to the share price (with an extended lock-in period of 2 years for them) rather than take it as pay - it is completely performance related.

You've been banging on about this for a while - and not just on this board. Was your question answered in tonight's presentation? Why did you feel the need to start a thread with the title you chose tonight?

The estimated completion of the Covid characterisation study is tomorrow : https://clinicaltrials.gov/ct2/show/NCT04865237?term=hvivo&draw=2&rank=15
Possibly some details/hints coming about the next stage (new contracts?) could be given if there is an RNS scheduled tomorrow? Just imho.
Looking forward to tonight.

Hey Earache
Regarding the 2nd of June... the estimated completion date for the Covid Characterisation study is June 3rd ( https://clinicaltrials.gov/ct2/show/NCT04865237?term=hvivo&draw=2&rank=15 ) . I'm not saying this has been timed exactly for that reason :-) but I would be surprised if this wasn't mentioned during the presentation - and RNS'd before or just after.

My understanding is yes - this will allow all the spin offs (and also payment of a cash dividend if ORPH decides on that route) without a return to the high court

Thanks Demon_G - that’s a good analysis.
I suspect there is some room in the forthcoming financials to assign revenue to a particular year (should it be felt necessary to ‘control’ the share price...
However, once the C19 challenge studies start getting announced... well, they are 10million+ a go and a fair chunk of that will be profit.
I can’t wait to see what that does to the share price :-)

If we get C19 slots 4-6/7 filled then I think the profit after tax will be considerably higher :-)
(the costs for a C19 challenge study won't be too much higher than an RSV one - 6k instead of 4k for each volunteer and a bit extra for staffing, admin and recruitment - so a fair chunk of that 10million is going to be profit)

And CF was giving quite the shout out to Codagenix in a few presentations (in a way I’ve not seen him do with other organisations). I’ve previously wondered if there was a bit more to this relationship than just a normal client (just musing)

Just my opinion... As CF likes to control the SP and avoid spikes, I would expect some details of the new company (which assets are included, potential valuation etc.) to be released prior to the cut off. This will give the SP the opportunity to increase to reflect this value... so any decrease after the spin-off will come from this high point.

Hi Bear666
So what value would you ascribe to HVO-001 ?
Personally, I can't at the moment.
Nearer to the spin-off we might have a clearer idea of what value to place on the new company... at which point I would expect ORPHs share price to have risen to reflect this. So any decrease in share price will come from this point - not todays value (IMHO)

I especially like this bit...
"A robust manufacturing route has been developed to produce the SDC-1801 active ingredient under Good Manufacturing Practice ("GMP") conditions for both preclinical and clinical studies, and a specialist Contract Manufacturing Organisation has been appointed to provide GMP material for clinical trials."
This says confidence...

That thought crossed my mind too... that would be huge!