RE: Re rate is happening3 Feb 2022 19:59
I think someone looking back at the recent holdings RNS's has made a bad poorly timed decision to sell down in light of todays news.
Firstly if we look at the 3 Holdings RNS's issued only yesterday 2nd Feb we can see that Rose Noble limited had notified that on 6th Dec 21 they had sold down from 5.99% to 0% but, when you look at the second holdings RNS from Nirland limited also on 2nd Feb, they went from 0% to 5.99% also on 6th Dec which would suggest a transfer of holdings took place between both TR1 holders.
And then the third RNS on 2nd Feb shows that between 28th Jan and 31st Jan Nirland dropped from 5.99% to below 3%. Judging by the SP action since 31st Jan to 2nd we can probably assume they have pretty much sold out.
It would appear they started selling off the 6% stake between 19th Jan to 2nd Feb looking at the SP decline. So in light of today's news it's been a poor decision on their part.
Almost 50M shares traded today which is 20% of the whole number of shares in issue which is pretty impressive.
Digging up the Hardman & Co research note from December this bit is quite relevant in light of today's update......
Investment summary: "Despite the deal news flow, which has expanded both the timing and interest in potential revenue streams, the shares have drifted since Cizzle was listed, leaving the company trading on an EV of just £8.3m. This suggests that there is considerable upside potential when investors become more aware of the company as further deals are announced and as development progress is reported."
So we now have a full commercial deal covering aspects of the development, supply and commercialisation of its early lung cancer test including a fantastic 10% Royalty at no cost to us!
To say this is undervalued is certainly an understatement....
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