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quesera, I think you're in the right track re HL. I was surprised to see HL owning over 5% but then figured that it must be a collection of individual investors like myself.
I had a look at Major Shareholders & Recent Transactions section
http://www.investorease.com/share.php?disp=share&epic=FARN
Show Detailed Major Shareholdings gives you a list of shareholder transacations
http://www.investorease.com/xcompany.php?disp=major2&epic=FARN
Not sure if there is any value in looking at these lists. However, I cannot see any big players selling in 2020.
Thanks Oil. Interesting.
Had a look at Rhenman & Partners Asset Management AB (Swedish company). They have bought their shares from London stock exchange as cost listed as GBP. If I read it correctly, they're down in their investment a fair bit. (Looks like I'm not the only one who doesn't get the timing right! ) Mind you, the report is from Dec 2019.
https://rhepa.se/wp-content/uploads/2020/05/Rhenman-Partners-Fund-Annual-Report-31122019.pdf
Ted, I cannot find any recent COVID-19 studies in which the administered drug would have been Traumakine, and I have tried. So far all the scientific articles I've come across have been subcutaneous Interferon beta-1a drugs (there are a few). I can only guess that Traumakine studies are still in a data gathering phase. However, people in the know must have some inkling. Otherwise, I cannot phantom why else to start HIBISCUS study and why Harvard and likes would get involved.
About HIBISCUS
Human Interferon Beta In Severe CoronavirUS (HIBISCUS) study is a phase II/III pivotal, randomized, placebo controlled Traumakine study in severely ill COVID-19 patients. The study aims to recruit 350 patients with 1:1 randomization and patients will be followed for ventilation free days (VFD) and mortality over the 28 day period post first dosing. No corticosteroid use will be accepted in this study which is expected to enroll patients over 6-8 months throughout the US with many significant hospitals participating. The study’s principal investigator will be Prof. Daniel Talmor from Harvard University’s Beth Israel Deaconess Medical Center (BIDMC). Further details will be provided in due course.
Thank you T6.1. Just found the article myself too. (add HTML at the end - I removed it so the link won't get removed)
nytimes.com/2020/07/04/world/coronavirus-updates
I'm not worried. Just hoping the price going down a bit more so I can buy more. As far as I could see, LAGO was selling loads. Perhaps it suits some big players the price to be lower? Who knows? Or are they building up a bigger stock price increase for publicity? Sorry, this is total speculations and I'm not sure if such a thing would be allowed??
The Iranian study was a positive indication re: Interferons. Why initiate HIBISCUS study if no positive nudges of Interferon beta1a treatment being effective?
NY Times article says:
The Solidarity trial is also continuing its explorations of two other treatment strategies: one involving remdesivir, an antiviral that has been shown to speed recovery in patients hospitalized with Covid-19, and a second that combines lopinavir/ritonavir with interferon beta-1a, which decreases inflammation.
No worries.
Iranians administered ReciGen and CinnaGen subcutaneously in their IFN-ß-1a study. I found the Dr in the article linked below was able to explain Interferon therapy rather well.
https://www.news-medical.net/news/20200602/Does-interferon-therapy-work-in-COVID-19.aspx
Juho has a great skill to make complicated things to sound simple! Having said that, even his simplified language is too complicated for me to translate!
What made me chuckle was that he was wearing a red hoodie, a trademark of Peter Vesterbacka (founder of Angry Birds). He was moaning a bit that Finns don't get access to the world-leading research/innovation/medicine as quickly as they ought to. Part of the problem is Finnish medics thinking too much of the cost of the medicine, and if the cost is a justified "public spend" if the outcome of the treatment is uncertain. The interview was made to promote a new research and innovation project Cancer IO in Finland. Faron is one of the partners involved.
https://cancerio.org/
https://cancerio.org/our-partners/
On another note - not related to Faron/Traumakine but might be a positive indication for us anyway - Iranian research group has finished their IFN-ß-1a study. Result to be published in the International Immunopharmacology journal in August 2020 number.
Conclusions
Our findings support the use of IFN-ß-1a in combination with hydroxychloroquine and lopinavir/ritonavir in the management of COVID-19.
https://www.sciencedirect.com/science/article/pii/S1567576920312893
I don't quite understand what does the sentence "The spread of the bid and offer prices is a maximum of 4 per cent calculated on the bid price." mean? Perhaps someone could kindly explain it in layman's terms.
https://otp.tools.investis.com/clients/uk/faron1/rns/regulatory-story.aspx?cid=2223&newsid=1348291
TURKU - FINLAND- Faron Pharmaceuticals Oy (AIM: FARN) ("Faron" or the "Company"), the clinical stage biopharmaceutical company, announces that it has entered into a liquidity providing agreement (the "LP Agreement") with Lago Kapital Ltd ("Lago Kapital").
Under the LP Agreement, Lago Kapital will quote bids and offers for the Company's share within the framework for the Nasdaq First North Growth Market Finland ("Nasdaq First North") rules for liquidity provision. The spread of the bid and offer prices is a maximum of 4 per cent calculated on the bid price. The quotes on bid and offer must be at least EUR 3,000 worth of shares. The intention is to promote liquidity in the share.
Subject to the applied listing of the Company's share on Nasdaq First North being accepted, Lago Kapital will quote bids and offers for the Company's share in the trading system of Nasdaq First North on each trading day for at least 85 per cent of the continuous trading period and in the auction procedures applicable to the share.
Liquidity providing in accordance with the LP Agreement will commence on 3 December 2019. The LP Agreement will be in force initially for a fixed term of three (3) months and thereafter until further notice with a notice period of one (1) calendar month.
Oh, that's a shame Oil. I was hoping CVS file would have given at least a week's worth of data.
It would be interesting to know if Lago is able/willing to provide you further info.
https://www.lagokapital.com/liquidity-providing
ADDING LIQUIDITY & MINIMIZING STOCK VOLATILITY
We offer algorithmically-driven Liquidity Providing (LP) service for listed companies. We are members of Nasdaq Helsinki, Copenhagen and Stockholm, where we currently offer our service.
LP refers to the process in which we, the provider, continuously execute both buy and sell quotes in your stock on multiple levels in accordance with the rules of exchange. Our excellent equity lending network allows us to efficiently place sell orders of the share of the company, even if we do not currently hold ones.
By creating offers generated by artificial intelligence, second by second, we are able to increase the liquidity of the company stock, while reducing its volatility. This leads to increased attractiveness in the eyes of both current and potential investors.
We produce a monthly performance report of the LP service for the client, enabling the client to easily see the added value of our service. For more information, or a demo in real-time, please do not hesitate to contact us! jani.koskell(a)lagokapital.com or +358 10 320 8955
I have to say that I like a company that is managing its debt well. Especially now.
Happy to park my money here.
http://www.steppecement.com/pdf/Annual-Results-2019.pdf
My guestimate is that it will be September (unless we get an update from any of the studies earlier) before any massive positive/negative change in the share price. Yesterday's presentation was not aimed at an average Joe/Sheila. It was massively technical, at PhD level stuff. I'm happy with a lower share price now as it gives me an opportunity to buy more.
Thanks for the tip Jurrel.
We shall wait and see what the evidence for dexamethasone is when it is made available.
Meanwhile, I'll explore uptodate.com.
This is what came up re COVID-19 and glucocorticoids.
Limited role of glucocorticoids — We agree with recommendations by the WHO and CDC that systemic glucocorticoids not be used in patients with COVID-19, unless there are other indications (eg, exacerbation of chronic obstructive pulmonary disease) [19,20].
For those without pre-existing pulmonary disease, we also avoid inhaled glucocorticoids. The use of inhaled glucocorticoids in patients with asthma or chronic obstructive pulmonary disease in the setting of COVID-19 is discussed in detail elsewhere. (See "Acute exacerbations of asthma in adults: Emergency department and inpatient management", section on 'Advice related to covid-19 pandemic' and "Stable COPD: Overview of management", section on 'Advice related to COVID-19'.)
Glucocorticoids have been associated with an increased risk for mortality in patients with influenza and delayed viral clearance in patients with Middle East respiratory syndrome coronavirus (MERS-CoV) infection. Although they were widely used in management of SARS, there was no good evidence for benefit, and there was persuasive evidence of adverse short- and long-term harm [21]. (See "Treatment of seasonal influenza in adults", section on 'Adjunctive therapies' and "Middle East respiratory syndrome coronavirus: Treatment and prevention", section on 'Treatment'.)
The approach to glucocorticoids among critically ill patients with COVID-19 is discussed elsewhere. (See "Coronavirus disease 2019 (COVID-19): Critical care and airway management issues", section on 'Glucocorticoids'.)
https://www.uptodate.com/contents/coronavirus-disease-2019-covid-19-management-in-hospitalized-adults?search=glucocorticoids%20covid%2019&source=search_result&selectedTitle=2~150&usage_type=default&display_rank=2
The same article has an interesting section about Interferon. I won't copy the section here as the character limit will cut some text out. But if you're interested, you can find it from the link above and using the search function with "interferon".
As I said earlier, 98.8% of the material went over my head. I felt that I was totally in the wrong place (at the right time!). Mind you, all the professors/doctors seemed to have a great time. I found Prof. Alberto Mantovani was particularly charming and clearly got excited about whatever information Ass. Prof. Maija Hollmen's (Markku's daughter!) presentation slides had. (I had no clue!) Worth saying that Maija mentioned how excellent the results were. Btw, Markku said the same thing very early on and Maija echoed his sentiment, supported with all the data they had.
(Is anyone able to tell me why charming professor Mantovani was giving a presentation? Thanks to him I now know a new word 'Macrophage'.)
It's a shame I cannot attach some of the screenshots I took. Let's hope Faron publishes the presentation in full on its website soon.
Some events/dates I wrote down:
Estimated Part II LPI in CRC, UM - Sep 2020
EOP II meeting with FDA - Q4 2020
Don't ask what those events are. I'm focusing on September and Q4 and planning my top-ups accordingly...
My understanding was similar to Jediknight's reply. 98.8% of the presentation went over my head tbh, but Juho's reply was quite clear. Steroids have a place in helping patients but in the second phase - not too early on. Juho definitely did not dismiss steroids use and he indicated that Faron is well aware of their usefulness. I'm not sure if the R&D presentation is transcribed later on. If not, why not drop them a note and see if Faron replies.