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Happy to read a contrarian view.
Happy
Hardly seems likely that bad news will be announced at such a high-profile presentation. The SP seems to be moving up in anticipation of said update which is a good sign. As far as I am concerned any short-term movement, either way is irrelevant. Redx is one for the longer term to extract real value from their research.
This might be of interest to contributors to this page.
There is a Redx virtual R&D day on 11th October between 13.00 and 14.30 BST
Updates on RXC004 with a summary of results presented at ESMO with commentary from leading experts.
Potential of porcupine inhibition RXc004 in colorectal, pancreatic, and biliary cancers.
Updates on company pipeline beyond RXC004
Q and A sessions with leading experts and company leadership.
email :-
redxpharma@fticonsulting.com
to register attendance
This is the link to the full content.
https://www.trinitydelta.org/research-notes/rezurock-approval-has-positive-read-across-for-redx/
This little extract may be of interest. It is from Trinity Delta and was published a couple of weeks ago:
Redx Pharma has established a notable reputation for its medicinal chemistry expertise which it is exploiting through a combination of in-house developed programmes and partnerships (with AstraZeneca and Jazz Pharmaceuticals). The lead programme is RXC004, a porcupine inhibitor poised to enter Phase II studies in a selection of genetically selected solid tumours. RXC007 is the second in-house compound and Rezurock’s approval creates a clear regulatory pathway and, in our view, materially de-risks RXC007’s development process. Our rNPV model, employing conservative assumptions, generates a £350.7m valuation, equivalent to 128p/share (86p fully diluted).
https://en.calameo.com/read/0061133858ca2dc71f390?page=14
This is a link to an article taken from the July/August edition of Pharmafocus. In it
Jane Robertson the CMO of Redx gives some interesting insight into the progress being made with the various oncology drug candidates on offer.
Just had a notice that Redx is having a virtual R&D day on the 11th of October. It is due to start at 13.00 ending around 14.30. They must expect to be able to announce some significant updates on the progress of the various projects being undertaken.
email to redxpharma@fticonsulting.com for an invitation.
For clarity, I am just an ordinary shareholder and have no other connection with the company or FTI.
I have a feeling that the share price is probably being kept at this level for a reason. One thing for sure is that Redx is a company that is very much under the radar. I hope it stays that way and things are allowed to develop without the daytraders getting involved. The outlook for the future is extremely exciting even if it takes a few years to materialise fully. Certainly very positive news today.
It appears that the holder of yesterday's exercised options has sold their entitlement. I wonder who the buyer is. We should get an RNS early next week.
The SP will move to a new level in its own time. So few free shares on the market that the company and large shareholders are in charge. If Pi's suddenly start attempting to buy in any quantity then maybe there will be some excitement. I would much prefer a slow and steady rise based on hard acts rather than out-and-out speculation. A lot is going on behind the scenes and news can come at any time. One question which I don't have an answer to is why go to America for a CFO. Could be just simply that the job can be done from anywhere with modern tech. However, being close to base would usually be the norm. Perhaps Redmile has insisted, or maybe the Redx board is looking at developments in the US.
Half year results on 7 June. Analyst update at 12.00 noon same day.
This is a link to a 5 min presentation which is very positive. Lisa Anson explains the latest on the clinical trial assessing RXC004 alongside anti-PD-1 Click the link here to watch the interview:
https://bit.ly/2PViMg6
Out of interest to members might be this reply received from our Chairman when I last contacted CRV asking for contact details for CRH. It is of little help, the only possibility it alludes to is that some up-to-date accounts for CRH are well overdue! There is also an email address provided for CRH.
Cheers
Sir
All company information regarding Craven Industrial Holdings will be distributed to shareholders of record in accordance with the articles of association. The annual results for CIH for the year to May 2020 nor any other shareholder communication have been published.
The letter sent out to holders of shares in Craven Industrial Holdings at the time of mailing out share certificates made the process in place for the sale/purchase of shares clear. I will repeat this for you here;
"In the event that you wish to sell any shares in CIH or acquire further shares please email info@cihplc.com stating the number of shares you wish to buy or sell and the price at which you are willing to transact. Buyers and sellers will be matched on a monthly basis with sellers who have been waiting for the longest and willing to accept a buyer’s offer being matched first. In cases where there are several sellers stating the same minimum price, sellers will be prioritised according to how long their shares have been listed."
Craven Industrial Holdings is no longer associated with Craven House Capital. Enquiries relating to CIH should be directed to info@cihplc.com. Emails regarding CIH sent to this email address will not be responded to in the future.
Two apparent sells look like a sell and buyback or sell and transfer into an ISA. £20k limit into new ISA so very possible switch from trade account or similar. Certainly not two sells withe the SP up 6%.
It would appear that in the absence of any other buyers, the SP is being kept at these levels on behalf of a single buyer. The assumption therefore is that the appearance of more buyers will be necessary to push the SP higher. It seems likely we will get positive news in the next few months and The SP will react accordingly as more investors see what RedX is doing in medical research. The finances are covered for at least two years and a formidable team of clinicians is being assembled. The company also has three large pharmaceutical companies with whom they are associated. I have personally not found a better opportunity in the sector and look forward to being a shareholder for as long as possible. I certainly don’t want to see a bid for the minority holders.
If my theory is correct the bid has risen to 65p as the sellers have been taken out at 60p and a buy disguised as a sell around 66-67p will show. The bid may then stay at 65p or move back down to 60p. All rather Machiavellian!!
My guess is that a buyer is controlling the market by levering out stock at steadily rising bids for stock and the market is assisting by accumulating sales and passing them on to the buyer. When sales at a level dry up the mms increase the bid and keep the buyer happy until they dry up once more. RedX is the best opportunity I have found recently. However, there are always inherent risks with this sort of cutting edge research. The people involved directly in the company together with the top-class pharms involved far outway the risk. The potential for each strand of research is immense.
SP is creeping slowly upwards towards the AGM when possibly some positive research developments may be divulged. So much going on and only needs something exciting to be announced and the SP will move upwards very quickly. There is so little stock available, it is inevitable to happen soon. Just needs patience. 91% in safe hands. There is always the possibility that the minority shareholders be taken out as well. I just wish I fully understood the science!