Member Info for mallettp

Hey - I completely agree. I remember the now infamous line in the annual report that went something like "we now have 40 sites trialing IB software and business growth will be strong"...

It's probable that the share price reflects some of the concerns around previous decision making. However, I balance this with the very high calibre clinical team at MCW. They are profession and motivated scientists with impeccable academic credentials who will not be influenced by the CEO or others in the management team. Their findings carry great weight with regulators and big pharma. In my view the speculative rewards are high and,.in balance, outweigh the corporate govenance risk. This is just my personal opinion and I could be completely wrong. Everyone has to reach their own conclusions.

Because the clinical team and two of the board members are in the USA! I suspect TB has very little to do with the actual drafting of non-corporate RNS releases.

I guess the issue is that the good news was largely already out there. They published the interim results earlier this year and the patient numbers were almost the full trial count. The next big catalyst could be efficacy, if it is really oustanding, but more likely Breakthrough Designation from the FDA. The real value creator could be the pre-clinical results of the radio sensitizer experiments in animals. You might say, yeah but it just in animals, but the effect of GaM has already been proven - in the lab and now in humans. We know that it damages the cancers cells DNA. This effect combined with the Radiation damage is potentially a double whammy which causes much more damage than either monotherapy. If this is proven, it's almost certain that the regulators will be working to accelerate the approval path of the treatment. This would leave IB in a very strong negotiating position. I can see a good chance of that happening in the first half of next year.

The news today was very terrific and very encouraging. Safety and tellerability are paramount in phase 1. The "icing on the cake", and what pharma will really now be really interested in, is the efficacy data. We know it's good because they already announced the preliminary data in an RNS this year.. The hint that it is even better comes from the fact that an early participant remains on drug after the trial has finished... now we know why they had to extend the trial closure date earlier this week.. Clearly, they did not expect this..

It will hit tomorrow morning when it is included in the morning summaries - that's what hapenned with the last announcement that went out in the afternoon.

Excellent news. iB are now the proud owners of a safe,well tolerated oncology asset in a difficult to treat condition. This has just transformed for a science project at a medical college to a serious commercial endeavour. Pharma will pay for de-risked assets in oncology. Sit back, do nothing.. and wait.

"In addition to our in vitro findings, we present the data from one animal that has successfully surpassed the 6-month endpoint of our study. Pre-treatment with GaM+RT in vivo induces significant tumor shrinkage and survival benefit over GaM or RT monotherapy. Longitudinal MRS demonstrated development of necrosis and apoptosis, a return to normal tissue brain metabolism, and a loss in the choline to creatine ratio. Still, whereas these results are quite promising, we need to validate them in a larger cohort of animals."

Https://academic.oup.com/neuro-onc-peds/article/1/Supplement_1/wuaf001.301/8231165

It makes perfect sense to extend the trial. They are trying to capture how long patients survive. It's actually encouraging that they are having to move the goalposts outwards because they believe survival may be longer than normally expected. That's how you capture the outliers that bump up the stats. It's common in cancer trials.. It does not mean that we won't get anything until 2027. The original secondary endpoints were PFS and OS at six months. We know the soft close was middle of the year so, for the last few recruited patients those data should be available in a couple of months.

I am actually more interested in the pre-clinical work testing whether GaM acts as a radio sensitiser. This was suggested by the team after a fairly spectacular result in one animal. Dr. AlGizawly published in neuro-oncology earlier this year and stated that the test would be repeated in a larger group to see if the results held true. If confirmed, this would catapult GaM into a first line combination therapy drug. The prospects of success and the commercial interest would, I suspect, be significantly improved. GaM would not only be if interest to pharma, but would also be of interest to radiotherapy providers, as it would provide a differentiator in a very competitive market. So,.look out for the news report. Most people may not appreciate the significance of a positive animal experiments - keep it to yourself :-)

It's common for cancer trials to monitor patients over an extended period. This doesn't mean they don't release headline results at intervals before completion. It's also very possible for a phase 2 trial to get underway before a phase 1 has completed.

I have been invested here since the start of the trial. If there is one thing I have learned,.it is to be very patient!

... Trial status only only changed recently. Assuming that means a database lock, they now need to verify all the data and do the statistical analysis. That normally takes months not days

Tyke,

I imagine it will be early in the new year before they announce the results. The

This doesn't change the fact that the CLN notes, if exercised, would result in an additional 22% in the total shares if Truetide needs to stay under 30% of IBAI. 22m to Truetide and a further 47m into "other parties".

Everything has a reason. Brown owns 30% of Truetide. The marketcap has fallen to around £2m. Total management expenses last year were over £500k. They will have to liquidate assets or raise capital to survive. This transaction is simply a way moving capital into Truetide at the expense of IBAI shareholders through dillution. £170k of 0.75p shares converts to around 22 million shares, which ia around 8% of total shares. However, to stay below 30% ownership, IBAI will need to issue a further 47.5million shares - probably also at a discounted rate. That equates to a dillution of 22%.

"The entry by IBAI and Truetide into the SPA and CLN constitutes a material related party transaction for the purposes of DTR 7.3 and was, accordingly, voted upon by the statutory directors of IBAI (the "Directors") deemed independent in relation to the SPA, comprising Dr Al Musella, Brett Skelly and Michael Schmainda".. You have to wonder how much longer Al Musella will stick around when he sees things like this..

They changed the clinical trial status to "active, not recruiting" with a total count of 26. This would have been done after going through the oversight board within MCW and this would been delayed from when the true date. This ties in with the April RNS that said that they had treated 23 with a further 3 required in the expansion cohort (23 +3). In the April RNS, they stated than the Overall Survival (OS) was superior to standard of care. OS CANNOT get worse in those 23 patients. It can only get better as more survive for longer .The remaining 3 in the expansion cohort were treated with the RPH2 dose so, if the drug is dose dependent, they should have benefitted most. The lead investigator has already stated multiple times that there has been no dose limiting toxicity. Based on a 3+3 escalating dose trial, I reckon that around 8 got the 3500mg dose. The lead investigator has also stated that the phase 1 results justify a phase 2. This is about as close as you get to a nod that final safety and efficacy results are going to generate great interest in the field of oncology!

Just think about this... They managed to persuade key staff and suppliers to accept share options at an exercise price of 4p (on the sale of IB Nimble). Hmmm. What does that tell you about monitizing the imaging assets...

Tyke

Fingers crossed. This scenario is a classic PI trap. After years of seeing share price declines, PIs sell out at the first sign of good news to "cut their losses". It's an emotional decision based in seeing ling term decline in the price and negative sentiment around corporate governance. It requires discipline to stay the course if you believe they have something really valuable that will eventually come good. End of pep talk, lol :-)

I would point out two things..1. I believe the directors latest round of options were priced at 1.9p and they will be expecting a decent profit - so you expect a target if at least double. 2..The company tends to release RNS during the trading day - often at times that seems more aligned with US hours.

You need to draw your own conclusions from these points!