Member Info for Hulver

With holders of just 5%, 16% and 14% of total shares in issue casting their vote at the last three AGMs, it wouldn't take much in absolute terms to stymie a vote in favour, especially if certain shareholders were colluding or wanting to prevent the vote being passed, Are the open short positions banking on the odds of a vote against being in their favour and do they also have knowledge of certain votes going to be cast against? If the vote is not passed where will that leave Hemo?

Let's see how many votes this brings on Monday but I cannot see it being that different from the AGMs. At least there's not long to wait to find out. Could be multiple news next week, either way.

Hold on tight your shares, I say.

Just came across Rigel Pharmaceuticals, which though it is commercial stage and much further on than Hemo, seems recently to have trodden a similar path to that Hemo is taking with regard to MDA and its product Rezlidhia for trials against AML and other cacncers.

https://www.rigel.com/investors/news-events/press-releases/detail/374/rigel-pharmaceuticals-and-md-anderson-announce-strategic

https://www.rigel.com/investors/news-events/press-releases/detail/391/rigel-announces-reverse-stock-split

https://www.clinicaltrialsarena.com/news/rigel-aml-treatment-trial/?cf-view

https://www.rigel.com/investors/news-events/press-releases/detail/401/rigel-reports-third-quarter-2024-financial-results-and

Rezlidhia was approved by FDA for certain uses after Phase 1 of a Phase I/II trial. It is already providing a significant revenue stream and partnerships with significant up front payments.

Things to look forward to, perhaps. GLA

And Hemo's initial trial at MD Anderson Cancer Centre, who've made the following announcement very recently:

https://www.onclive.com/view/md-anderson-launches-institute-for-cell-therapy-discovery-innovation-to-deliver-transformational-new-therapies

Hemo seem to have aligned themselves with the right people, in the right field. Exciting times ahead?

Here's hoping that Hemo CAR-T proves successful and that it can be progressed quickly to help save the lives of people that develop AML.

And following on from that the announcement of a PIPE funding round:

https://www.globenewswire.com/news-release/2024/12/02/2989670/0/en/Senti-Biosciences-Inc-Announces-Oversubscribed-37-6-Million-Private-Placement-Equity-Financing.html

is this what Hemo are aiming for; and preparing to be ready for with the proposed share consolidation?

Here's the Senti Bio report, it's 3+ months not days, three patients treated at the start of September, 2 CRs, at the lowest dose level.

https://investors.sentibio.com/news-releases/news-release-details/senti-bio-announces-positive-initial-clinical-data-phase-1

Very interesting.

Https://www.linkedin.com/posts/vladislavsandler_senti-bio-announces-positive-initial-clinical-activity-7269446277321445376--bHT

posted by VS, what's possible in Phase 1 focussed on flt3 - 2 CRs, going strong after 3 months

So Vlad is presenting on Tuesday at the CBD-ST Conference in Fort Lauderdale.

The lengthy list of presenters is here:

https://cbdstconference.com/posterpresenters/

Hemogenyx is number 73 on the list with Vlad presenting, and for those that want to see the content poster it can be viewed in the link in the right hand column (poster 73 on the list).

It doesn't say a lot that we do not already know, however it does seem that in-vivo testing for SARS-COVID has been undertaken in mice. But there are a couple of interesting points to note - the paper names some more of the scientists involved (some new to me) AND briefly scanning the list a lot of posters seem to be discussing new ways of detecting or modelling threats; whereas Hemo was quite specifically about ELIMINATING them.

"Chimeric Bait Receptor (CBR) for Reprogramming of Myeloid Cells to Target and Eliminate Emerging Viral Infections"

I am not sure if DTRA are sponsors of this event, but they seem to have some part in the running of it. The DTRA announced in August 2024 (about the time that Hemo would have had the invite to attend this conference) that it was seeking white papers for research funding consideration.

https://defencescienceinstitute.com/funding-opportunity/us-defense-threat-reduction-agency-strategic-trends-research-initiative-hdtra1-24-s-0003/

Remember this is happening next week:

https://hemogenyx.com/announcements/presentation-at-cbd-st-conference/

Well done.

Still shorts open, and percentage number of short accounts increased in the last week?

Quite interesting really, as I am guessing that they are now also playing against the unknown (to them) - the potential of US investors.

Levels up the playing field somewhat.

With 1 share post-consolidation

28-Nov-24 13:04:15 1.18 400 Buy* 1.15 1.18 4.72

is that good ol' Pumpky, climbed back aboard, to join us on the longer journey?

The documents for the meeting are at last on the company's website, that is all of them except for the new M&As which we are specifically being asked to consider changes to and vote in favour of.

It doesn't sit easy with me that the meeting is being asked to vote through new M&As but the draft of the new M&As (ie what we are voting on) is only available by travelling to London it seems.

Couldn't they have better achieved non-penny share status by doing a 400 for 1 and making the nominal £4 per share; or even 100 for 1 and making it £1 per share. That would have at least given comfort that they won't issue below £4/£1, being the equivalent of 1p.

If this was a private equity company then fund raises at different milestones would reflect the increase in fair value. We have a broker update note from SP Angel in May, presumably issued in collaboration with Hemogenyx, that reported a fair value of 6.3p per share after 20% discount for not having started clinical trials. These valuations do not change that rapidly and therefore it should be reasonable to assume that a fair value, now clinical is approx 8p per share.

There should be no need to sub-divide the shares to again arrive at a 1p nominal value, essentially retaining it's penny share status, that they say theu were trying to eliminate.

One has to question why the last two raises by the board (excluding Prevail) have been at destructive prices of 2p and 1p - and if the sole reason was because other IIs wouldn't pay such amounts then why did they not bring a consolidation earlier. We need a rethink of the board of directors and the board adviser - I believe 10% of shareholders can requisition an EGM.

Is anyone else considering attending the EGM? As the board are putting this forward to shareholders, presumably they will be in attendance to provide further details or at least answer questions pertaining to the resolutions from shareholders at the EGM. Perhaps as someone mentioned the board will provide further detail.

Readers here should not forget that it is only Shareholders who may vote at the EGM.

Not all posters here are shareholders; as such those posters may post an opinion about voting on here, but they will not be able to vote in the EGM, their only hope is to be able to influence the voting of actual shareholders.

And by retaining control over all the products, through having ability to raise further capital at a company level, then a sale/buy-out continues to remain a future possibility (if Hemo sold some of its assets early or spun them out, then IMO that long-term possibility would reduce or may even fall away.

Has anyone received the EGM Notice?

There was no link in the RNS and it doesn't appear on the Company's website.

HOWEVER what I did find on the Company's website and which I don't recall being mentioned previously by anyone is an updated non-confidential investor presentation that was dated (or uploaded) on 31 October 2024.

There it confirms a couple of things that have been mentioned on here re: HG-CT-1 previously, that presentation provides the evidence for them:

(i) Phase 1 will be UP TO 18 patients (pg 14)

(ii) HEMO will be applying for Orphan Drug designation at the commencement of Phase 1 (pg 13)

It is well worth another read - it looks to have been updated since the slides at the June meeting.

Investor presentations section: https://hemogenyx.com/investors/

Trippy,

IMO that would be a wrong assumption.

The statement in the interim report was referring to the financing of the full suite of product candidates.

Isn't there still significant scope for non-dilutive funding in relation to the progression of CBR, where the company has already been partnering with an undisclosed partner with regard to BSL-3 facility and testing of CBR for SARS-COVID; and also its potential biodefense applications; or some partnering arrangement for CDX which has plans mapped out for 2025 and 2026.

Maybe we will find out more from Hemo about progress on CBR for biodefense at the forthcoming conference in the first few days of December.

The corporate action will allow the company to raise further funding through capital issues, when it needs to (and hopefully from more reputable sources), it doesn't prevent it from being the beneficiary of other forms of funding.

I think the whole thing around the nominal values in the RNS is to ensure that the company does not reduce its share capital, which is something that typically needs a Court Order or in the case of a 2006 Act company such as Hemo a solvency statement from the board (which I am not sure that they are in a position to be able to make at the moment - being the company's ability to pay its liabilities as they fall due for the next 12 months).

Issued share capital is determined by the nominal value of shares in issue. The current nominal value of a share is 1p.

Current share capital = 1,401,815,988 * £0.01 = £14,018,159.88

Part 1: Sub-division

After the sub-division into Deferred Shares and New Ordinary Shares, share capital will be the sum of:

Share capital of Deferred Shares = 1,401,815,988 * £0.009975 = £13,983,114.48

Share capital of New Ordinary Shares = 1,401,815,988 * £0.000025 = £35,045.40

This total share capital after sub-division = £13,983,114.48 + £35,045.40 = £14,018,159.88 (i.e. unchanged)

Part 2: Consolidation of New Shares (1 for every 400 - here I have ignored fractions for the purpose of clearly demonstrating how the numbers work in theory).

After the Consolidation of the New Ordinary Shares there will be 1,401,815,988 / 400 = 3,504,539.97.

Each New Ordinary Shares will have a nominal value 400 * £0.000025 = £0.01 (this is confirmed in the RNS)

Post Consolidation the company's share capital will be the sum of:

Share capital of Deferred Shares = 1,401,815,988 * £0.009975 = £13,983,114.48

Share capital of New Ordinary Shares = 3,504,539.97 * £0.01 = £35,045.40

This total share capital after sub-division = £13,983,114.48 + £35,045.40 = £14,018,159.88 (i.e. unchanged)

So Hemogenyx's issued share capital will remain unchanged throughout and we will arrive back at New Ordinary Shares having a nominal value of 1p. That I believe is the rationale; nothing more sinister.

Clearly it leaves future scope to issue shares at a discount if necessary, from say £4 (the future price equivalent to 1p now) all the way down to £0.01 again.

LOTM-13, thanks for correcting, I missed that.

Approx 10% of the company changed hands today; approx 10% of the company changed hands at the Feb trashing of the share price; i don't think these are insignificant amounts - is someone accumulating?

if you wanted/needed these resolutions to be passed (as they say they do)......?