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... New CEO is not sat on his palms... Looks to be drawing a clear division between the tech development and corporate side, which will hopefully lead to better commercial focus at the top whilst leaving BG still with oversight of all the tech. Share options in lieu of fees is very welcome news. Looks like TB's criticisms here are having an effect with wide-ranging changes now, including new CEO and CFO and now this new structure. Shame he had to dump over half is holding as (presumably) the catalyst for change, and I'm making no assumptions that he's not going to continue selling as he could equally dislike the new structure. As I've always said - his prerogative however as a fellow albeit lesser SH I'd appreciate a bit more straight bat action from now on, please!

One consolation here we know there's an active seller and hiw much ammo he has left. Many times on AIM I have seen shares take irratiinal plunges, only to find many months later an RNS stating some fund or other has miraculously sold their 20% stake into zero liquidity, for the SP to recover once the seller has cleared. Of course in those cases the seller is opening all manner of forward positions amounting to increasing shorts, effectively, allowing them to dump under the radar without even shareholder register analysis revealing the dump. Anyway, other than that insight I agree there's work to be done by BOD now but other than that we have a value op thanks to a seller who will clear one way or the other soon enough. I just re-read the results rns I see plenty to be optimistic about, just got to keep a clear head through the wait. I have funds to buy lower tranches if necessary so that helps me keep calm but I understand others' frustrations at the sp/mcap madness given developed product, CE mark etc. At least the placing is now out of the way so further agressive selling won't affect dilution or the company's ability to raise working capital

Should know better than to comment on any share I hold, though...

Don't believe a word of the spread. For months now it's been spread into the lower half of the L2 range so buys and sells marked as red on sites such as this. Something funny been in play since the RTO, with the RTO fund raise at 24pps annihilated down with agressive selling/shorting, the EIB loan should have been a major catalyst butvwasn't, the 5x distribution deal announcements sold into. Yet the PVT is still pretty good, meaning volume brings rises historically. Very quiet share so no major PI stale bulls, revenue trend better than I could have hoped for, based on pre-IPO lojuxta sales.. Only cloud is the delay to EASE trial but should have been offset by the good news, additional data set access, new in-licensed candiate, very solid cash position etc. No idea what's playing out in the background but I think these levels offer value. Strong hints in announcements of more deal(s) to come, I know some held back on the trading update in order to see audited numbers first but other than that the SP here looks like some game in play

BOD placing last week was quite a counter-move I think, one weapon of the seller was threatened impending dilution, affected all, even LTHs prepared to sit out the onslaught. The matter was settled - for now - at a price above my fears, as it happened.

Good post Botak. Back to the waiting game to wait for TB to clear. Fair enough his prerogative but as you say he could possibly help himself by working with the BOD rarher than against, and providing a higher platform to jump from. �3m mcap here is ridiculous and now with new CEO and CFO it's only waiting for a sign of progress and TB to clear and we should hopefully see a sharp correction then. Also if it's true that TB was hopeful of CEO appointment but then resumed selling on CFO appointment because he saw that as extravagance and cost then - *if* that is true - then it pits his own view against mine, because I's say the BOD now more than ever before needs to be running full tilt to catch up commercially. Opportunities to sell this tech, almost any tech, diminish over time as the opposition catches up. We have to move hard and fast, this year, now. Whatever it takes to support the TexRAD team into full commercialisation. I had hoped that TB would see that and support this move.

You need a top team to make it work at corporate level, hence why I fully support appointment of CFO and CEO. I will not be happy to see feedback languish (commercially) another year, happily plodding along the research route. Having 2 BOD appointments I feel is both a sign of intent and also a facilitator for better commercial focus. To come here on the day of one lowball placing and to say there's another lowball placing is just deramping. All experienced players here know there are positions opened both ways, that the market started to anticipate TB selling and have chased the price down. So the derampers are just IMO protecting their shorts, sat their waiting for TB's shares to fall into their hands. I think actually the placing has thrown as slight dummy - last I heard the company was going to eek out the last of the remaining cash and wait for TB to be done. Fact they're raising and over the 1p many had speculated about I think can only be a good thing. Great also to see Tom Charlton protected his considerable investment by taking part in this placing. Marked difference in the way the 2 ex directors are carrying themselves. Riddell should have been able to make the 750k last 2 years on the current burn rate published end of Nov but somehow spending went up. Which I don't mind, but for burn to go up with no commercial success is not a good position. So here we are now with a new team who have some working capital between them. Look at accounts will reveal research revenue here tends to be back-ended so I expect current cash to give even the bigger team enough runway to get some successes in the bag. 9 months ladies and gents. That's my time frame. If David Crabb doesn't get some commercial success in by end of this year I will be gone. Because that's enough time to see results. And I'll lay money on the money raised today coupled with the revenue to last long enough. And please, let's not start a bragging war on age v experinece here. It's a judgement call to back or walk away. I've added today and will continue to add through the difficulties right up to the point when the new BOD have either proved themselves - or not. In which case my punt will have played out badly.

Agree completely - but what more can the company signal as far of signs of intent, but to appoint 2 new directors, including a new chief? Past is the past. 2017 was dire. But nothing can change that and no point moaning now about something that has already been changed. Yes the onus is now on Crabb to bring in some wins, show we can move on. But from �3m mcap with product ready and decent exposure via research sales and academic publications, plus an existing revenue stream from those research sales. I know why the price is here and I know it's not fair to blame the low SP on one person for selling, but that sell-off has indirectly (or perhaps directly) lead to changes which I believe puts the company in a much stronger position. Why TB carried on selling after Crabb's appointment is a mystery I can't even start to speculate on but new CEO has some working capital now so best not to get distracted with the past and look to the future.

After they licensed in the new preclinical gene therapy it made me wonder whether they might be on the verge of licensing another approved drug too? A few things struck me: - They placed but still had over �20m in cash at the end of the period and enough to draw down from the EIB loan to complete the EASE trial by the looks of it, so what do they want the cash for? Preclinical on the new gene therapy shouldn't be that cash intensive and as we know the burn will decrease further if the 5x new distribution deals for Lojuxta signed close to or after period end are a sign of the revenue trajectory expected in 2018 - The appointed Jordi as Head of Europe with the comment "responsible for leading and further developing Amryt's European operations, including product launches. ", AP101 is probably 2 years out for EB - Most recent trading update ""We have ambitious plans for the remainder of 2018 and we look forward to announcing a series of agreements in the months to come. One think that was clear, to me at least, is that Amryt are interested in growth. They have 2 arms of the company and it would make sense to move to expand the sales and production arm faster than waiting for AP101 to come ready IMO.

It's been tight for months - indicates buyer(s) sniffing around for his shares. Just not sure whether they are buying to accumulate or to close shorts opened when he started selling. We know Cranston took a fair chunk of Trevor's discards, but he can't have taken many more or he'd cross a threshold. So maybe another major holder could crop up, we'll have to wait and see.

Literally as I posted the message a trade for 175k at 1.36p popped up and the quote I got immediately following that was as you post, with spread restored to normal. Nice and tight.

Just got quoted 1.3705p to sell and 1.36p to buy (150k) Inverse spread!

Assumed these were a rollover but time between the 2 means might be 2x buys - there was afterall 4x75k sold into bid plus a few more sells and the MM didn't move down so assume they had a buyer or need for the shares collected. Seriously unimpressed with the 360 degree pivot by Trevor but it all happened so quick we're back to where I assumed we were. Hoping the sell-off will accelerate as the SP dips because the mcap os incredibly tempting now and the timescales for him to be fully out start to feel in reach then I hope interest will pick up further. No delayed from yesterday yet and no TR1 to say he sold the 2mil on Friday - yet (not sure it will quite push him over a boundary). Really I'm trying to blank out the distraction and wait for some signs of commercial progress from the new BOD. Looks a decent team now CEO and CFO. If they start to make it all happen then TB will be bought out even quicker. I have a lot in cash right now but I'm carefull spacing my tranches to ensure value over the entry phase

Funny I logged on here just to say pretty much the same thing. If anything the better hedge might be short AMP long MTFB because the leverage at AMP is excessive IMO, leading SHs at the mercy of the lender. As mentioned previously a better hedge would be long on warrants (MTFBW) short on MTFB. If MTFB triples in SP the warrants go 5x last time I ran the numbers, there's no ambiguity like AMP managing the debt burden whilst toiling to float Polarean. It's a clean stamraight hedge that I think provides reasonable upside potential with close to zero risk.

The big issue I have with the non-stop morosity show on this forum is that the question being asked has already been answered by the BOD. We've have nothing but 'is the BOD up to the job' etc for months and months. The BOD has taken just about the biggest step it could to signal change: they appointed a new Chief Executive. Either he's going to inject a new lease of life into efforts here, or he's not. Nothing anyone can say or do on this board will change that. Yes the burn has been higher than I had hoped in the last period; however, it has been a period of higher activity, finalising development - including the additions which lead to the delayed CE mark, and presumably paying for the verification. The one reason we're here at this share price is not the lack of effort from the BOD, it's not whether TexRAD will succeed in the market or not (still TBC), etc etc. It's because of Trevor Brown's firesale. Whatever his purposes for persistent selling that's up to him. Personally I see it as an act of self harm against his own financial interest but that's not my prerogative. What is clear though is that the new CEO was appointed less than 2 weeks ago. The question as to whether the new BOD can crack the market is yet to be answered and I cannot see any reason for doom and gloom. Just need to give it a bit of time. If anyone wants to talk rationally about this please catch me on Twitter because I have only limited patience for boards like this.

Can I ask a question - do you own shares? More specifically, do you own>10% of the company (10.77% to be precise)?

Which service are you looking at? https://www.investegate.co.uk/feedback-plc--fdbk-/rns/half-year-report/201802260700038474F/

Should add that whilst an expected date is shown it will still be subject to listing criteria and presumable an IPO fund raise to go with it. But good to see the wheels in motion for a Q1 IPO at least...

Now live on London Stock Exchange website, IPO is slated for 09/03/2018 http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/new-and-recent-issues/new-recent-issue-details.html?issueId=9315

There will be a solution to the TB problem - one way or another. It's taken him 6 months or so to get down to 10% and the pace of his dump has increased. There was only really one catalyst in the last 6 months and that was the CE marking, could well be more coming up to speed him on his way. But yes, hoping a sit down between the new CEO and TB might help stabilise the register