Final Results28 Apr 2023 10:45
Finally got a chance to read, overall impressions are very positive with a few welcome comments.
It was good to see statements such as "Very soon" for IND and also some acknowledgement that its taken longer than they expected because its been more complicated than they thought. Certainly there is no "stalling" words in there, IND could be days or weeks away. It feels as though they expected IND to be filed before this update, which may be why they left it to the last day, who knows, very hard for anyone to argue there is anything wrong or big delays. Its there in black and white "Very Soon".
The negotiations about CDX etc in black and white, Vlad did mention it in zoom before but its good to see its alive and kicking.
Few takeaways from CAR-T are the Master agreement they are working on, it was obvious from the Tweet made by Hemo about distribution etc that it was bigger than just shipping. Given the delays to IND can be put down to simply inexperience, they have underestimated the effort and were not equipped to do it them selves on time. They have reached the end of that process but if they cannot handle IND alone they would be stupid to try and run the trials themselves. So get the agreement done and let experts run the trial and we might actually see some progress.
Burned quite a bit of cash on CAR-T and other pipelines, more than expected which has its pro's and con's. On the downside they are burning alot of cash, so end of the year they will need cash from somewhere, however by then they will be clinical and have many non dilutive options. On the upside there are snippets like single digit royalties to Eli Lilly and substantial (£1m+) payments for CAR-T components. Shows that the company is NOT giving away much in way of profits, as much as the previous fundraising has hurt hemogenyx own almost 100% of all candidates, this is huge when they finally prove even one works in the clinic.
Basically all candidates progressing to clinic, even those some assumed shelved
Update on IND "Very Soon" for CAR-T
Update on Master Agreement for CAR-T sounds imminent, I presume its dependant on IND
Updates on CBR and CDX - Well over due but focus is on CAR-T, once IND is submitted expect updates to flow.
Nothing in there for the trolls, they can go on about cash burn which is fair but company only recently did a cash raise and cannot raise again until after approval at next AGM.
Anyway, its my childs birthday so signing off.