Member Info for miavoce

Cars - I suspect / hope that you are thinking on the right track. I have the feeling that there must have been some solid prospect of SP increase for Redmile to bother with a small UK biotech. And for prospects of SP increase to be solid the work to deliver the drivers (e.g. Covidity funding, commercial deal ref Avidimab) must be well advanced and pretty much nailed on. I am not planning to sell any of my existing shared to fund my OO purchase as I believe there is a strong possibility of good new dropping imminently.

As the Avidimab information has been put into the public domain before the fundraising transaction has been executed (it requires approval by shareholders) I guess this means that it is no longer inside information and thus does not stop directors buying.

Hi Chelsea, thanks for the reply. Ref the BoD's ability to strike a deal...I guess the proof of the pudding will be in the eating (a phrase that includes 2 of my favourite words). Good luck to us all.

If they fail to deliver we have been led to expect then I doubt that Redmile will sit back and watch their investment evaporate - they will IMO trigger a change of CEO. What heartens me is that Redmile wouldn't have come on board with such a big investment in a tiny UK biotech if they didn't see the real possibility of a good return....

I expect we'll see commercial progress soon (which having Redmile onboard may help to facilitate) or we'll see a change of CEO (which having Redmile onboard may cause to happen). Either way Redmile and Vulpes together are going to put real pressure on the BoD to deliver.

OVERSUBSCRIBED...now that is a good word to see on a placing...

Looks like it is being very well received indeed....the book build must be going well.

Back to last night's closing price - that ws quicker than I expected :-)

Overall, quite a few reasons to be positive / hopeful as a result of this very large fund raise.

I have a suspicion that this may also help to unlock UKRI funding for the Covid vaccine. Given that we were close to the end of our cash I can see why UKRI may have been cautious about providing funding but once we are fully funded they may be more willing to provide funds to further accelerate the work. This fundraise may also help to get our vaccine into the clinic earlier, irrespective of UKRI funding, and positive results from this would give another major boost to the SP.

This must be what prompted the SP movement over the last few days - Thursday of last week seemed to be the point at which sentiment turned. Given that this was going on in the background I'm surprised the price rose over that period but maybe a good sign that that the market views this favourably. I guess the SP may dip a penny on open but hopefully will recover quickly and continue its forward momentum. Having money in the bank will certainly strengthen our hand in any commercial discussions.

Hopefully the non dilutive funding / commercial deal for the Covid vaccine will come sooner rather than later - obviously no commitment yet from UKRI.

Good to see that they are able to get away a very large placing - the price is awful but it means that we have at least 2 years cash in the bank which should (and I say that advisedly given SCLP history) see us comfortably past the early Modi1 results which if good should IMO put a rocket up the SP.

Ha ha, great way to draw a line under today's bb activity.

Just a thought.

Diggle would have raised £160k when selling shares a couple of months back. Ichor are shortly free to sell the 3184620 shares that they were granted in July 2018.

Now, £160k divided by 3184620 is 5.025p.

I wonder if Diggle entered into an option with Ichor to buy their shares at 5.025p each and sold some of their holding to raise the funds to cover this option. At the moment this would be attractive for Ichor as they would not get 5.025p a share if they dumped them into the market with the SP currently where it is, and it is attractive for Diggle as they can get 3.184m share to replace the 2m they sold.

Thanks BS - more grist to Scancell's mill. Maybe worth tweeting the article ref SCLP to bring to their attention.

I notice that Trinity Delta are forecasting a 10m fundraise (if funds don't come via another route) - I'd agree that we should go for this amount as it will give sufficient time for the first Modi-1 results to emerge which would hopefully drive an inflection in the SP.

Hi Chester18 (do you live in Chester btw ?) - I've assumed that the director wages are directly funding the COVID work and that other cash remains focused on the cancer work.

Thanks guys.

So taking into account the tax credit and the potentially reduced burn rate they probably have funding for a max. of 6 months which gives a bit of runway to sort out funding before a fundraise becomes necessary. If all other funding avenues fail we probably see a fundraise at the backend of September, but hopefully we will have funding for the COVID vaccine (assuming good pre-clinical data) and funding from one or more Avidimab deals to fund the cancer work by then.

I've been looking back at timing of the previous fund raises to assess the level of cash SCLP had in the bank at the point they did each fundraise. For both of the last 2 fundraises (the 6million from the subscription/open offer and the subsequent 4m from Vulpes) I estimate that there would have been circa 1.7m left in the bank (i.e. sufficient for 3 months of operations) at the point each fundraise took place.

At 31/10 last year SCLP had 5.79m in the bank. Given that the monthly burn rate is about 520k there must now be about 1.6m left in the bank i.e. enough for 3 more months.

The need to raise funds is now therefore very pressing and needs to be dealt with. If SCLP doesn't announce a fundraise in the next couple of weeks I would take this to mean that they have an alternative funding source 'nailed-on'.