George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Hope to see an RNS tomorrow with some news before we get the AGM RNS that will have to come out. Clarification or a robust update would be welcome. Will be disappointed if the AGM has been scheduled without some material comes beforehand, but will continue to hold as I do continue to trust the science. GLA
Waiting eagerly for next week to be over, personally feel that there will be news RNS next and hope it is positve. However even if we only get the AGM statement I will not be selling, we still have molecules with great potential and I still believe this will move upwarda and I still personally believe PH were engaged to support negotiations for a deal. As Potnak said in his posts why is the AGM at their offices, it could just be because they offer this service to customers or not. An interesting week ahead. GLA
I fully expect news before the AGM, either good or bad, in my mind the date has been set because they expect to have clarified the current situation. They will either have good news or have faced the reality that they will need to face the music. I am always an optimist so believe it will good news and forward into CTA hopefully with a Pharma deal. Then with a further boost once 737 can be dealt with in January. GLA
I agree it's a good post, reminding us that there will be interest from others in 737 once returned. Once the CTA clarifications have been provided and the trial granted. Then a new taker for 737 will further boost the SP. This is the point in the cycle where we need to hold firm and wait for the smoke to clear to hopefully new highs. GLA
I try to resist being drawn into these discussions but this is misleading the RNS states, 'Whilst the Company has yet to receive a formal letter of non-acceptance, the MHRA has indicated that it seeks a review by the UK Good Laboratory Practice (GLP) Monitoring Authority, or further support, of the non-clinical data submitted as part of the application to approve the clinical study.' The key features being non clinical and the further support context. Everyone is entitled to an opinion but I entirely disagree with fatherteds view which I see as misleading. GLA
Well it's definately not the early Christmas present I was hoping for. I will though continue to hold, this does look like a bureaucratic delay rather than a terminal outcome. Further delay is disappointing and IMO the BOD do need to help support shareholder value with a programme if director buys (to demonstrate their confidence) and a flow of information to inform shareholders quickly around what is happening. I am not a conspiracy believer but there will be a significant treeshake and some PIs will be caught on stop losses, fear from the RNS and undoubtedly a dodgy online article or two. Fell this fault probably lies at the feet of the consultancy who drafted the submission, but the management have also to take responsibility by resolving at pace and protecting shareholder interests using the means available to them
I agree a shallow article, yes this is a high risk investment, however it is significantly derisked over the last few years, we are close to news, which if announced with a deal will shift valuation in my view materially, there is then 1802 and 737 to deliver news next year. The waiting is frustrating but I choose to believe that a deal will come alongside the CTA announcement or as a fast follower. GLA
I agree, very exciting few days ahead, hopefully, news could drop at any time and I am feeling very positive. Looking eagerly daily for a red dot. Although nothing is certain we are for me in the end game, just a question of how things fall.
My own interpretation of the situation is also that a deal will be part of the next announcement. I have always seen a deal of some sort as the logical way forward, it's part of the stated strategy, its a logical point for a deal with suitors having access to the tox report, PH have done nothing obvious so for me have been advising, for me its a waiting game with news inbound at any time GLA
I have read Thoths post over the years and sincerely hope his health has not deteriated to a level where we will not hear from him again. I also believe that WIP played with a straight bat, all of us can interprete data incorrectly. I was disappointed that GSK did not progress 737 but we do not know why. I therefore see us as having a great asset back in the toolbar. The doomsayers will encourage cashing in, trading and a range of approaches. I will though ignore them and continue to hold, we are at the point with 1801 going into CTA wher the published business model tells us we are actively seeking a deal. This deal could drop at any time and I choose to believe that this is what PH have been doing l, advising SAR in this regard. All of us will do what's right for our own circumstances but DYOR and make your own decisions GLA
A very possible outcome Potnak, disappointing that GSK have not taken forward but I agree this will not sit on the shelf. Other pharmas will want to progress this and could definately generate larger milestones than the prior agreement
Not the news many of us expected, but an asset that can now be redeployed with the benefit of its progress to date. We will probably never know why GSK have not progressed perhaps some clues will be seen in the next GSK pipeline eg other programmes. Or perhaps they felt the contract royalties were too high for their appetite. At least its no longer locked in the Sierra cupboard. SP should be an interesting ride today
Indeed why appoint PH in a rush, no raising, no II's, for me that only leaves advising the BOD on a deal(s). Lots of silence from the BOD, Tox, capsule formulation and CTA now in place possibly all wanted by the partner. Really looking forward to great news in due course for me still nothing to dislike GLA
I am eagerly awaiting news, I agree that a run of separate RNS announcements is likely to best for the SP. We all know news is inbound the shape of progress will be driven by the content, CTA plus a deal or 737 related all I think will move us onto an uplift path the question is to what level assuming it's not just a straight TO GLA
If all the options were taken up then another £2.92m available, not really sure that can be expected to be the funding source with recent price performance. Personally I feel a deal of some sort most likely and would also be my preference, also suspect the HNWI would prefer no dilution, suspect that would have been part of the discussion with them at the tjme of investing. GLA
My own musing on the falling pound is that I feel this has to strengthen the chance of an early deal, be it TO or Licence. If you are a UK pharma spending GBP on a UK opportunity is now significantly discounted against doing an overseas deal in dollars. Equally a US pharma with UK revenue in GBP may be tempted to fund an in country deal rather than exchange back into its own reporting currency. In all IMO the current chaos improves the chance of an early. Striking now could deliver a bargain for a US pharma. Thursday is a popular news day let's see if we get a CTA update. My positive opinion of this share continues acceptance of the CTA is a further step in derisking and in view will lead to SP increase during the course of the trial. As others have said I feel the deal will be done before the end of the trial as the cost will start to rise along hopefully with an increase in the value of the pound.
For me personally I am pleased to see no Director buys, for me this is signal that they are in closed period. Aligning to my personal positive view that negotiations are ongoing and that PH were appointed to advise on negotiations rather than only consolidation.
Things have been very calm for a while now during this wait for news, I have taken to think of it as like the eye of a hurricane. We had the rapid increase and drama of rising from sub a penny to the highs of last year now we are sitting becalmed but knowing that at some point news will drop and we will have an exciting ride. Takeover or deal is all quess work, I would prefer a T/O if its a decent bid, but a deal would also be transformational. I personally think that GSK will take CHK1 forward, and think it is quite logical that they buy us out now in a pre revenue position avoiding royalties and getting 1801/1802, FLT3 , SKL platform and our two scientists in the deal. GLA
There was no bad news on this mornings call, although I accept little that would cause a new investor to jump off the fence, there were IMO definately references that were encouraging. With yesterday's Krone post and Tim's comments on 737 I am personally now convinced we will hear GSK planning to progress in their September pipeline refresh. It would have been nice to have a guesstimate of when CTA approval should be expected based on prior experience but it didn't happen. No bad news and I have bought some more in the dip. I for one am looking forward to the remaining months of this year and like Potnak feel we will see movement in this period. Was good to hear that we were unlikely to see options being sold this year! GLA