Member Info for kand72

The falling share price probably tells us everything about current sentiment. Trades have dried up, and attention now seems firmly fixed on Monday and whether we get an update.

But the key point for me is that CRTX is now well funded. Even if H1 slips, they have the runway to pick things back up and keep moving. The clinical-release batch of ChemoSeed must have a shelf life, and it would be a crying shame if they did not find a suitable candidate for it, especially when glioblastoma continues to feature in such tragic stories. CRTX is still my main holding. Based on the evidence so far, I believe ChemoSeed has the potential to turn chemotherapy delivery on its head.

Keep calm remains my motto here.

NEO is exactly why retail holders lose faith in AIM-style markets.

We backed the story, carried the risk, sat through the damage, and now the latest RNS appears to hand the former board 165m settlement shares on the way out. However it is presented, that feels like reward for failure — and it stinks.

The real question is why this only becomes clear now. If there was a settlement arrangement with former directors that could result in this level of share issuance, why was that not made plain to retail holders at the time of the board changes?

Yes, the shares are being issued at 0.9p, which is above the current SP, so they are underwater against the stated issue price on day one. But that misses the bigger point for retail holders: the issue still dilutes us by nearly 6%, brings no obvious fresh cash into the business, and risks becoming yet another overhang worth around £1.1m at the current market value if those shares are later sold into the market.

Retail provides the liquidity, takes the dilution, and absorbs the downside, all while those who presided over the mess walk away with yet more shares.

When a management team gets it wrong, we are not treated like genuine owners; we are treated like collateral damage. In the short time I have been investing, the lesson has been brutal: too many boards care about shareholders only when they need the placing, and not much after.

Obviously I need the new board to turn this ship around, and the credentials on paper are positive, but this company has lost my confidence. I doubt I’m the only shareholder who feels that way.

Rant over.

AGM Monday , if I could I would be buying more at this price. Totally agree end of summer it could look a lot better

Staggering that if correct, the trades are majority sales this morning! I think they will eventually regret that choice

The additional cash is useful, but the bigger point is the external validation. Innovate UK funding is competitive, and while this does not prove the treatment works, it does suggest the trial plan and technology have been assessed very positively with a 90.6% score

It also puts the recent placing in better context. The dilution and warrants were a concern, but the overall funding picture now looks much stronger if the raise and grant together help push the trial forward.

The real value drivers remain first patient dosing, trial progress, safety data and early efficacy signals. But as a credibility and funding update, this is a strong RNS in my view and i think the SP will look a lot better by a few days trading

Great news

CRISM has been awarded £896,088 of non-dilutive funding to support Part 1 of its open-label Phase 2 registration-grade trial of irinotecan-ChemoSeed in surgically resectable glioblastoma patients. The grant covers 70% of a £1.28m project cost.

CRISM says its application scored 90.6%, which it presents as strong external validation. The funding is intended to help recruit more patients faster and support trial delivery.

RNS - CRISM has received a non-dilutive R&D grant of up to £99,902 from Invest Northern Ireland, covering 61% of eligible project expenditure, to support the docetaxel-ChemoSeed programme for prostate cancer. This is another avenue of major potential for the product, exciting times in the medical world

The funded work is scheduled to run through to March 2027.

Correct- the "risk" here is the delivery mechanism, localised into the resection margin as opposed to everywhere intravenously which is where chemo affects the body wholesale. Irinotecan is the common drug in Chemoseed already widely used . For glioblastoma intravenous chemo doesn't work as the blood brain barrier prevents the drug from reaching the cancerous cells- this is what the product attempts to overcome. The benefits for other cancers "if" this works is huge

In the short term probably right, but this all hinges on success which is why we are all here. The thing to take into account is that currently there is a limited number of shares in circulation, that means poor liquidity as people sit on them. The more shares the more liquidity/trading so the easier you can sell. There has been times where I have tried to trade this share and been unable to get a quote.

I tend to agree here, provided the results are positive who in their right mind will start selling as soon as the SP excedes 15p- this really has potential to go like HEMO did so my guess is most will be holding into the £s and offloading at specific prices to derisk the capital - thats my plan anyway fingers xd

Must admit, when the RNS landed my initial reaction was that it was either going to be very good or somewhat bad news. Additional funding was always likely because the previous raise only appeared to provide runway to first patient dosing. The more cautious view is that the company may be raising now because the planned first dose could slip beyond Q2, although there is no evidence of that at present and the RNS itself still explicitly references first patient dosing expected in June.

Equally, the alternative explanation is simply that management chose to raise from a position of relative strength while investor demand was available, rather than waiting until cash pressure became more acute.

Looking towards the end of June, we should have a much clearer indication one way or another. The warrants remain a slight concern, as they could create an overhang if the share price moves materially above 15p. Unless there is a steady stream of positive news flow from the open-label trial, there is a risk that any strong move higher encounters selling pressure as warrant holders look to realise gains, dragging the SP down like previously

For existing CRTX shareholders, the fundraise can be viewed as broadly positive with a trade-off attached: the company has raised £2.5m at a relatively normal 13% discount and the placing was oversubscribed, reducing near-term funding risk and providing capital to advance the Phase 2 glioblastoma programme and other key milestones.

The downside is an immediate dilution of shareholder ownership (~32.6%), with further potential dilution from the attached warrants; however, those warrants would only become attractive if CRTX performs well enough to trade above 15p, at which point the company could also receive an additional £3.75m in funding from warrant exercises.

Overall as shareholders we are effectively giving up some ownership in exchange for improving the company’s ability to survive, progress its programmes, and reach value-creating milestones. That can only be a good thing really, even if it tanks the SP short term

Down 33.3% in 3 months and steadily dropping as small investors sell out, despite major (FDA) approvals, trial drug certainty and all the solid foundations in place ...... impatience or something else?

I bought in big last time it dropped to 9p ..... deliberation time again as the delta slowly gets erased- sell a chunk now and buy back in? no quotes available for large sales- low liquidity

No news is probably good news here- lets just hope that shelf life for the clinical batch manufactured for March RNS hold up!

All the regulatory framework is now in place — big tick.

Based on the official information, they appear funded to get the first patients dosed, and the first GMP clinical batch has been manufactured. The current company guidance is for first patient dosing in H1 2026, so the market will naturally be looking for that before the end of June.

My view is that they are likely to look to raise again sometime around July–October, once the share price has hopefully stabilised and a new base valuation has been set. That assumes the trial starts soon and the share price re-rates first.

The worse-case scenario is that they miss the H1 guidance and then have to raise funds before the market has had the confidence boost of first patient dosing. That could mean dilution at a discounted price and another drag on the share price.

Even then, with such a low market cap and relatively limited shares in circulation, I don’t see it as doom and gloom — more likely it drags out the return profile and delays the re-rate.

If there has been no news by the final week of June, I expect sentiment will start to get jittery

Its called bed and ISA- it allows you to use your 20k S&S ISA allowance by moving shares into an ISA wrapper. So you sell from your dealing account and immediately repurchase within your ISA and reduce the dealing charges, facilitated by your broker.

Yes it was a bed and isa

Its surprising how little interest there is for something with such huge potential in the medical world

Incredible potential here, and such a cheap entry. It's been a long wait but hopefully this year will be the one where the investment starts to return, and the product helps those suffering

I don't think much will change here until the trial commences and then once the 1st positive signs of efficacy are released it will rocket. Previously the hype was around FDD approval which yielded nada really- irrespective the regulatory framework is now all in place and the initial trial funded, so load up whilst it is cheap is my mantra.