Member Info for marik

"Let’s hope they grow some balls for the share holders"

@Topcat1953 I hope so too. Can you or anyone else confirm that ODX has a burn rate of ~£0.2m (£4.7m - £4.5m) in 3.5 months (from 31 Sept 2021 to 19 Jan 2022)?

Is this correct?

Thanks @Okehurst1,

From what I'm gathering, cash was £4.698m down from £5,827m which puts the total burn at £1.12M over 6 months, (March to Sept).

This is rounded up in the interims as cash balance of £4.7m (which includes an undrawn overdraft facility of £2.0m) i.e. £2.7m without the overdraft. Since Sept '21 until the announcement of 19 January 2022, this has been reduced down to £4.5m.

i.e. burn rate of ~£0.2m (£4.7m - £4.5m) in 3.5 months.

Is this correct?

"Marik ( apologies finger slipped on name check )", no problem :0)

"£650,000 a month cash burn"

Where is this calculation coming from?

@Hani1, do you have the cash burn calculation at hand?

Could someone point me to the £650k per month cash burn calculation? Is this based on the cash in the bank in 30 Sept '21, vs 31 March '21? If so, what figures are being used?

Thanks

"No one on this BB knows the answer to your question - without it being inside information"

Thank you @Okehurst1 and @Computer909. I think that explains some of the sentiment.

Thanks
@CaptainSwag. I presume money is being spent, but I'd like to get an idea as to how much. There has been a lot of talk of current cash burn, good to get a clarification on this from PI's.

I presume there are no takers on my question:

There are clearly very well researched investors on this board who state that the current cash burn won't sustain them beyond short term. So could anyone specifically provide details on what ODX spent the "£650k/ month" on?

There are clearly very well researched investors on this board who state that the current cash burn won't sustain them beyond short term. So could anyone specifically provide details on what ODX spent the "£650k/ month" on?

"They told us we burnt £2M in 12 weeks - same time"

I am aware of most of the information. Could someone who thinks that ODX are in trouble provide some details on the cash burn. What did they spend it on and what will they be spending it on?

"You do your credibility no favours marik (if you ever had any, or want any) Your positive comments are going to look pretty at the open."

I am not here to make pretty comments and am in no fear to put it as it is. FYI the opens for most stocks are volatile, I wouldn't read too much into it. What I would read is the RNS as stated it puts to rest the speculation this past week, which has been fever pitch by PI's.

"Omega can confirm that it currently has cash balances in excess of £2.5m and an undrawn overdraft facility of £2.0m. Thus, there is no short term need to raise additional capital. "

From their previous RNS they put the fund raise in perspective and differentiate between short term and long term need. They know that in the long term they will need to raise funds, but have "significant cash resources". I'd like to see the current and previous burn rate figures in ODX and what that money was used for.

GLA

It's been a flogging session by the shorters all over twitter this weekend with some serious speculation. I am not surprised that ODX have put out this RNS. They are correct to state their cash position to confirm that they are not desperate for fundraise.

ODX are required to RNS any major speculation and put it to rest. They have and made a very strong statement, i.e. plenty in the bank.

Interesting read that ODX, "has significant cash resources" and "Accordingly, there is no immediate need to raise additional capital and the Company may choose not to proceed with a fundraising until such time as conditions are more favourable."

Well this puts a spanner in the works for those trying to short this stock.

Note that Avacta has temporarily put sales of tests in the UK on hold and the value of the company is not as a covid stock, it is as a therapeutics. We are awaiting results for AVA6000 and preCISION which will inevitably drive the price higher. As such when discussing the article, it is important to keep this view in perspective.

The article, by it's own argument quotes Dix as stating:

"If you have the assumption that this virus now is going to be no worse than the very worst normal flu season"

Which by many standards is a very UK centric approach and naive considering what the current situation in the US and the rest of the world is like:

https://www.dailymail.co.uk/health/article-10453517/Omicron-drives-US-deaths-higher-falls-delta-wave.html

The deaths in the US due to Omicron are higher than those by Delta.

With this in mind, testing is still at the core of the US & RoW's fight against covid and any reduction in the UK testing will be to find better quality tests (e.g. Avacta) and cull the weaker ones.

GLA

A comment from the 4D board:

"don’t worry about Sang. He is a known DDDD day trader."

The point of riling people is to provoke comments and responses on other boards. This creates interest and volatility, great for day traders, as more people enter and exit quickly and the sp fluctuates. The 4D LTH seem like a nice bunch, and the company as a whole is doing something positive. However, it can't be compared to Synairgen as the focus is different.

Best to ignore the provocative comments.

GLA

How companies access and distribute capital (primary/secondary offerings, dividends and a whole host of other vehicles) is a conversation for a different thread and another time (any questions on that subject DM me on https://twitter.com/marik_investor).

Just to put my comments back in context:

The company has spent 50 years getting to get where they are. Although we are close and I'd love a Monday RNS, genuine long-term holders don't need to place artificial deadlines on Phase 3 clinical trials. Synairgen is about saving lives and alleviating suffering and the Phase 3 results will be announced when they are ready and it's imperative that Synairgen get it right.

Traders on the other hand need volatility which is usually artificially created via false expectations and deadlines and acerbic and inflammatory comments. The emphasis is and always should be on "whenever Synairgen are ready". I prefer to ignore the negative talk and bring back the conversation to what is important, the fundamentals and what the company is about.

Really looking forward to next week. Enjoy the calmness before the main event - whenever that may be ;0)

GLA

@wyndrum, oh dear, you've let your mask fall.

Strong finish today for Synairgen despite sans-joyous taking the joy out of the board.

A lot of very very positive small signs over the last three weeks that the company and the board are feeling very bullish about the companies future. Whether results are Monday or at any point in the near future I don't mind as long as they are careful and meticulous and get the wording right. Remember the journey for Synairgen story is a cumulation of:

"50 years of curiosity and innovation"

This is not an overnight get rich-quick-scheme for traders, it's about saving lives and alleviating suffering, the by product is that we get to make some money.

GLA