The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
According to the chairman, 9 months ago he said we were 1 year away from those US specialist investors looking in. It seems like those specialist investors simply aren’t interested.
Maybe they’re waiting for the CLN to be paid off? Or maybe they want a therapeutics pure play instead?
This sub-study represents an ongoing collaboration between Avacta and SOFIE, in the use of [18F]FAPI-74 PET as a complementary diagnostic. [18F]FAPI-74 PET is currently in clinical development and for investigational use only.
So why is this company putting resources towards an additional and unnecessary partnership when they have a platform that needs to be proven through a course of clinical trials? It implies a lack of focus on what’s supposed to be the real deal and suggests that the BOD is trying to steer the ship away from being a therapeutics pure play.
It also implies that they’re aware that AVA6000 has a higher chance of failure than previously thought.
Seems like there’s been a change in strategy of this company. They’ve pivoted from being a therapeutics pure play to focusing on diagnostics. This could imply that the therapeutics program isn’t going as planned. Preparing for failure of AVA6000?
Well Tudor, it would appear that none of those buzzwords are applicable or accurate.
The trajectory of the LFT and the poor communication from the company during the development shares many parallels with the ongoing trial.
Could it be true that the outgoing CEO lied to investors? That the technology doesn’t work? That the trial is a failure?
Would you fire a CEO a few weeks or months away from a TO?
The answer is no. It can be said, with certainty, that there will be no TO for the foreseeable future. It's safe to assume that no TO talks have even begun. Plus, any prospective buyers will be scratching their heads and trying to figure out why the incompetant BOD didn't remove the CEO sooner.
The Wetherby site will soon be on the market. It’ll go faster than the LFT did, that’s for sure.
The real question everyone should be asking, is did Alastair Smith leave so he could dump his tiny amount of shares onto the market?
Who’d buy, what is now a loss making business?
It’ll be Avacta having to pay another company to take it off them at this rate. The whole thing has been a complete disaster of the highest order. CEO only stepped down once the damage was done.
Oh no. Here comes more dilution via the CLN. 20p placing anyone?
With all this data available, it seems that Conifer aren’t taking anymore stock. They’ve reduced their position and have not increased during the last placing.
Even more concerning is the European Healthcare fund not triggering a TR1. Clearly they want to be able to sell stock without notifying PIs.
Current significant shareholders are as follows:
Lombard Odier Investment Managers 3.3%
As at 30th April 2024 the company has 360,042,104 ordinary shares of 10p each in issue.
1.3% of the ordinary shares of the Company are not held in public hands.
Avacta Group has not applied or agreed to have any of its securities (including its AIM securities) admitted or traded on any other exchanges or trading platforms.
There are no restrictions on the transfer of Avacta Group plc’s AIM securities.
Avacta Group plc is subject to the UK City Code on Takeovers and Mergers.
Avacta Group plc is incorporated in the United Kingdom and its principal place of operation is the United Kingdom.
This information was last updated on 30th April 2024.