RE: Worsening position1 Aug 2024 16:56
I wonder how many have followed Cathal Friel into here with blind loyalty but no understanding of the offering or a reasonable valuation.
This could easily be sitting at 3p by now and I can't see what aspect should allow this to be valued at just under £60 million at the moment. People would be celebrating like they had won the lottery if pharma bought POLB001 right now for say £10 million, so what on earth is justifying the market cap above this?!
The AIM market is absolutely full of companies promising jam tomorrow and people saying "all we need is for xyz to happen and the market cap will " yet it never comes to fruition and the one in a hundred that actually get a deal are never anywhere near as lofty as suggested or worse still, the dodgy AIM companies manipulate the real benefit away from private investors.
I guess people are pinning all hopes on two parties being interested here. One isn't enough as I can't see that Poolbeg are in a position to turn down the only deal that comes their way after three years and it would leave the pharma holding all the power. On top of that, do we even think that there will be one? Why now and at no point over 36 months now?
If there was real potential in any of their assets, do we believe that large pharmas, who specialise in identifying targets and making deals, would allow so much time for competitors to swoop in? Why has nobody even signed even an MOU to show any form of intent?
I'm interested to see if Poolbeg will pivot again as the cash reserves dwindle and a raise looms ever more likely.