Member Info for LiveLongnProsper

Apologies - post being 'truncated' - will try again when LSE fix.

“Typical Numbers:

ADC ‘hegemony coming to an end …?

@RAH’s poll on twiX asks a question that I’m sure most well researched LTH’s here already know the answer to …

https://x.com/RAH00084/status/1944002353637572680

Nevertheless, I checked my understanding with ChatGPT and this was the (confirmatory) answer …

“Typical Numbers:

@SandyR, many thanks - very helpful.

GLA

Looks like a couple of very good appointments today following ‘hot on the heels’ of David Bryant and Richard Hughes. All good then, but now the tough stuff …

Where are we with Coris? And why do we still need Diagnostics ‘corporate’ folks?

Will Darlene step down gracefully?

Funding, CLN, license deals, Nasdaq, etc., etc.

Now CC is a full-time CEO (i.e. not a CMO trying to do some CEO stuff), and very well ‘supported’ with advisors, brokers etc. – no excuses.

(Science, trial progress, great – thankyou, again, to Avacta Scientists).

GLA

Probably a close call – Phillies at home to Padres on Tue and Wed, priorities?

GLA

@Tim, taking your comments at 'face value' (as always, of course!) ...

“Data cutoff 10 April 2025” ...

“FAP-Dox demonstrates multiple responses, a disease control rate over 90% and median PFS not reached in SGC”.

“PFS: At least 5.9 months (FAP-Dox, median not reached) v. 3.5 months (benchmark median)”.

Now 2 months on from the data cutoff date, are we heading for either FDA “Breakthrough Therapy Designation (BTD” or “Accelerated Approval”?

Grok thinks … “Seeking BTD now would provide FDA guidance for designing the Phase 1b and future trials, potentially streamlining the path to Accelerated Approval later.”

Now, getting to the point, weren’t we expecting an update on p1a/b in 2Q/25, i.e. before the AGM?

GLA

Updated report, but the below still there on page 35 (slightly different place) …

“Substantial shareholders

The Company is informed that, at 5 June 2025, there were two individual registered shareholdings, Lombard Odier Investment Managers (holding 3.1%), and Conifer Management LLC (holding 3.1%) with more than 3% of the Company’s issued share capital.”

Yet the website still shows …

“Significant Shareholdings - There are currently no individually significant shareholders holding in excess of 3%.”

Waiting for the TR1s.

GLA

Director salaries are indeed excessive, generous share options will reward CC for the exceptional rise in share price we expect. Will consider voting against resolution 2 (‘protest’ vote really I suppose), and probably also against resolution 3 (NED’s need to demonstrate their ‘worth’, maybe still time?).

GLA

As per @B2HS2L – “More to come here in the not too distant future."

So I suspect that ‘hands will tied’ as far as open market purchases are concerned.

Plenty of options though – not to mention big salaries.

On that last point (salaries) and the board, and therefore the AGM …

Think the Chair has helped his case somewhat by hiring Messrs Bryant and Hughes, we need an experienced Oncologist on the Board (as well as all the excellent SAB folks), so Mark Goldberg gets my vote, as does Paul Fry (particularly as no FD), as for Darlene D-H … ‘jury out’.

GLA

Maybe already on with it. i.e. a BP trying out pre|CISION®?

Slide 8 – “Confidential pre|CISION® molecules in stages of preclinical testing and prep work for the clinic Multiple therapeutic classes (n>10)”.

Wonder how many of the >10 are from other company (ies)? I have a vague recollection of the mention of ‘borrowed’ or ‘lent’ molecules, or something like that, from a previous presentation? Now the intention has been clearly confirmed as per results presentation.

GLA

CFO not demonstrating any understanding of the nature of the company, reading (badly) slides and scripted answers. Hope just a short-term hire in lieu of Avacta being 'absorbed' by a BP.

GLA

Yep, BH just a read a prepared statement re CLN.

GLA

Clear ref. to STS in enrolment slide.

GLA

Did she just say TNBC non-registrational / like Trodelvy (Gilead) / looking for partners - in the same breath?

GLA

STS mentioned alongside TNBC and SGC for expansion cohort enrolment.

GLA

(Missed a bit). Worth a read …

“Now that Avacta is positioned as a clinical stage biopharmaceutical company, the more immediate challenges are less about clinical and operational execution - since Chris and her team continue to demonstrate their expertise and capabilities here - and are more about ensuring Avacta can establish a sustainable, long-term financing strategy to realize the pipeline's potential.”

My take – reinforces my view that CC doing good job as CMO and head of R&D - but not really a CEO. Now over the new ‘commercial’ guys (i.e. Bryant and Hughes – mentioned later), along with BH, to sort out ‘financing strategy’.

“The Avacta management team continues to build knowledge and trust with a broad range of specialist and other investors in the US and closer to home.”

So, is ‘home’ not the US then (which is good). I suppose Europe is ‘close to home’?

“The Board understands that the Heights Capital Bond ("HCB") liability remains a source of frustration for shareholders and is a significant factor in shaping shareholder sentiment. We continue to explore a number of possible alternatives”.

“The Board is committed to both the Company's near-term as well as the long-term financing requirements and is resolutely focused on executing its strategic goals and furthering the pre|CISION® platform, which it believes will be the springboard to deliver a longer-term solution to the Company's needs including its capital structure and driving shareholder value.”

License the pre|CISION® platform to sort out the CLN and fully fund through 2026 and beyond?

More interesting than the “Highlights”, which is just a repeat.

GLA

The Board understands that the Heights Capital Bond ("HCB") liability remains a source of frustration for shareholders and is a significant factor in shaping shareholder sentiment. We continue to explore a number of possible alternatives.

Love this ‘conspiratorial’ stuff (the old auditor excuse, eh?). Just to further add …

Wonder if CC and BH in the UK presently? Won’t make BA67 (13:30 LHR PHL) on Friday, so travelling home at the weekend – or more ‘business’ to do over here next week?

Alternativley, an early (US time) start and a bleary-eyed Friday presentation from the ‘Philadelphia office’?

Guess we’ll find out (if nothing else) if BH can add up soon.

GLA

Given we now know that the 2024 financials are 2 weeks away, we are well inside a ‘blackout’ or ‘closed’ period (30 days?) for release of market sensitive information.

So, inevitably, no financial / commercial update (yes, I also asked for this - before the results date announced). Nor any update on trial progress / data since the April data cutoff in the posters.

Therefore I suspect this was the ‘tell them (again) what you (already) told them’ step (i.e step 3 of ‘preview’, ‘tell’, and ‘review’). Guess we’ve all ‘got it’ then – AVA6103 ‘is a beast’.

I suppose it didn’t do any harm, body language seemed to exude enthusiasm and confidence – at least from 3 out of 4, annoying guy playing with a pen a bit of a distraction.

GLA