Member Info for Nanomat

For those who may have missed this over the weekend J&J are presenting new data at today's Asco from amivantamab (Rybrevant) which was trialled for selected patients who have already gone through conventional treatments. Results look good but are the side effects being downplayed? It's injection administered rather than via infusion so there is that 'benefit of convenience'.

https://www.theguardian.com/science/2026/may/30/cancer-jab-can-eradicate-entire-tumours-in-patients-trial-shows

In view of some of the unsubstantiated comments lately being posted of a very negative nature on this BB, genuine Avacta shareholders may like to remind themselves of the following information:-

1 The latest forecast I can find regarding future sales of Doxorubicin 2025-35 is here - https://www.factmr.com/report/doxorubicin-market

2 Faridoxorubicin (AVA6000) has now been shown in a Phase 1b trial to show 'clinically meaningful tumour shrinkage' in Salivary Gland Cancers (SGC) where to date there is 'no standard therapy' - https://avacta.com/faridoxorubicin-ava6000-phase-1b-cohort-demonstrates-clinically-meaningful-tumor-shrinkage-in-patients-with-salivary-gland-cancers/

3 The conclusions I reach from the above evidence are :-

(i) Doxorubicin is still a growing and not a shrinking market.

(ii) The safety profile of Faridoxorubicin has already been shown to be superior to 'straight' Doxorubicin in Avacta's AVA6000 Phase 1a study.

(iii) Faridoxorubicin has been shown to demonstrate 'clinically meaningful tumour shrinkage' in previously unresponsive SGCs providing some future hope to patients where previously there has been no meaningful clinical treatment whatsoever. This also bodes well for the Precision platform in treating other FAP responsive cancers.

4 Note the 'Key Players' in the Doxorubicin market forecast - especially one that has been mentioned a few times on this BB - namely Novartis.

5 As for the current SP volatility, from my experience this is perfectly normal in clinical stage biotechs which are driven by two types of news - (i) Clinical and (ii) Commercial - and short term traders will take advantage of this situation. We have made excellent progress as regards (i) and the market is now awaiting news as regards (ii) - thus the volatility in my view.

Much to look forward to as regards clinical and commercial progress vis a vis AVA6000 and AVA6103 in 2026 from all the evidence that I can see. And I still remain convinced for many reasons that we will have a Nasdaq listing at some point in 2026 - not least for what Nasdaq can do to the SP in a US market that is currently looks hungry to invest in Biotechs as it begins to move some profits out of high priced AI stocks.

Once again, seasonal best wishes and a Happy and Successful 2026 to all genuine shareholders in Avacta.

Nanomat

Judging by our clinical progress to date for both 6000 and 6103 I am very optimistic that 2026 is going to be a pivotal year for the company. Much to look forward to as well in terms of deals/partnerships and anticipated Nasdaq listing.

Seasonal best wishes to all Avacta shareholders.

Nanomat

Just to cut to the chase for those with limited time - I recommend you to go to 19mins 30secs and watch till 22mins 30secs of Episode 13 - link in Timster's post - and read the slide and listen carefully as to what is said regarding the PK (Pharmacokinetic - ie pre-clinical) study and read the info on the slide. This is a nutshell is why AVA 6103 is regarded by Chris as a 'Beast' but I like to call it our 'Exocet Missile' to invoke the underlying drug Exetecan.

For myself I now see that a listing on Nasdaq is now a question of when and not if with such an impressive molecule in 6103 as part of the Precision platform, and secondly I think the odds are now in favour of a takeout of Avacta after 6103 has undergone successful Phase 1 studies. I just cannot see BP - especially if we are on Nasdaq - not moving in at that point as BP has done in other cases. In that respect I don't see us as remaining independent for more than 2 years max from now. A relatively short time in Biotech timescales for the patient.

Worth a listen If you missed this short piece on this morning's Today programme - it starts at around 45mins:07 secs into the programme -

https://www.bbc.co.uk/sounds/play/m002lpdj

Avacta is not specifically mentioned but in my opinion the current clinical trials of AVA6000 in respect of salivary gland cancers must fit the MHRA's new criteria to be introduced in 2026 for rapid clinical progress through the clinical trials system.

Good find Bella.

I remember reading about GSK's CD226 back in May 2022 - https://www.gsk.com/en-gb/behind-the-science-magazine/how-the-next-generation-of-immuno-oncology-could-help-us-get-ahead-of-cancer/

Now that their 'immuno-oncology' approach has gone the way of Monty Python's Norwegian Blue parrot I wonder if GSK will look more closely at our Platform?

When Zeus Capital were doing the book building with IIs and HNW individuals they would have seen that demand was exceeding the number of shares being offered. The fact that Avacta stuck to the £16m being offered at 63p per share to take us up to H2 2026 and not beyond is a strong signal to me that the BOD expects to have other options by then if not before.

Keeping full control of the IP and Platform whilst AVA6000 goes through Phase 1b and AVA6103 enters the clinic is the correct course in my view as this will maximise our scientific/IP value and thus our investment attractiveness to Big Pharma. In this context , for us LTHs today's equity issue of £16m is really just another small price to pay when you think of what our Platform may be worth to BP in the not too distant future.

I've watched the latest video 3 times now just to make sure I wasn't mishearing what was being presented.

To put it in its simplest form and in a nutshell our Precision Platform can be 'customised' according to clinical requirements in respect of such things as cleavability and thus different levels of sustained release of the warhead. Precision is not a 'one size fits all' platform but as Chris says herself - 'what do you want it to do?'

I think that Chris and the guys are so excited because the pre-clinical data for 6103 is strong and matches or exceeds their expectations. We will of course learn more this month which should stimulate the patient recruitment programme for Phase 1a next year. I also expect some media coverage once the pre-clinical data has been released later this month.

In all my years following biotechs - and I've been in quite a few over the years - I've never seen a better opportunity from my perspective for patients, Avacta staff and us as investors. No wonder Chris was jumping up and down in her kitchen as she says in the video.

There is an article in today's FT which I cannot access entitled 'UK aims to slash clinical trials set-up times by two thirds' found on the right hand side of today's main FT page - https://www.ft.com/

If there is an FT subscriber here perhaps they would be kind enough to give the rest of us the gist of this article.

Thanks in advance

Nano

Link to today's report for those who haven't yet seen this - https://mcusercontent.com/d9ebd7c1aa0f3dbc5fab42eca/files/fbf4f6c8-416b-4573-a05e-174df9a48845/AvactaGroupplc_18_7_2025_FINAL_BG.pdf

Page 1 is a good commercial summary of where we are today and Page 9 a good commercial summary of potential funding/opportunities. Excellent potential rewards with substantial de-risking already established in my opinion.

Icecool - point taken. You are right. I should have just said 'disagree' or something along those lines. Sorry about that.

I shall of course be watching L2 very carefully over the next few days to see whether there is/is not any acceleration in the selling - whilst at the same time keeping my fingers crossed that a 'good news' RNS drops between now and 29 May which could potentially reverse this current downward trend in the SP.

'You’re trying to sound clever ...............' A bit rich coming from you Icecool! I am only stating what I see on my screen. If you wish to differ in what you see - fine. But no need to make condescending remarks. I have never, ever needed to 'sound clever'. Not to you or anybody else.

If you followed Level 2 before the last raise at 50p there was accelerated selling in the last few days as the SP plummeted. It all depends on what the strike price is for the placing which gives the amount of leeway to traders as regards time to sell. We shall see next week how buys/sells volume and ratio pan out and whether or not a favourable RNS drops before 29 May. So best to let this just play out in my view.

Icecool - Wrong!

When traders forward sell they do it over a period of time and it accelerates as the 'deadline' - in this case 29 May approaches. It is therefore next week that we will see if the 'dumping' accelerates. In other words, you have to be a cool trader to keep the buys coming in as you sell coming up to a deadline. ........'Icecool' in fact.

It is very foolish in my view to simply lampoon people with mocking jibes such as 'bedwetters'. As the saying goes - 'play the ball and not the man'.

The facts are that since Chris's 'everything is on the table' and everyone working hard on deals etc. the only thing that has materialised on the commercial front is a whopping multi-million pound loss on the sale of Launch - a predictable disastrous and reckless purchase under the previous CEO in my opinion.

As for the current action of the SP anyone following Level 2 over the last few days would have seen any buying followed by predictable 'sales dumps' causing the SP to fall rather than rise. MMs then just 'rinse and repeat' so to speak - so we are now looking at a spread of 27-28 down from c. 33-34 last week - suggesting that if there has been a placing it has been at or around 25p and these 'sales dumps' are forward sales. I don't know but the SP action has been very similar to when we had the 50p placing so it is at least possible - especially if there is nothing else on the commercial front reported on 29 May.

I'm still a LTH with a chunky holding but that doesn't mean I will not be critical where such criticism is backed up by facts as pointed out above and by McMuff and others. We are where we are because the clinical progress has not been matched by positive commercial progress - thereby undermining the sentiments Chris expressed last year. Let's see what happens between now and 29 May. I would love to see a commercially juicy RNS but the SP action is not indicating any whiff of such an RNS - only possible forward selling from what I can see.

Manx - see https://www.pharmaceutical-technology.com/data-insights/ava-6000-avacta-life-sciences-non-small-cell-lung-cancer-likelihood-of-approval/

I wish you and your good lady wife the very best.

Icecool - some great posts and I agree with your line of thinking. As one former Chairman of a biotech that also had a sort after platform and was subsequently taken over a few months later said to me when discussing the valuation of biotech assets - 'It's not the price to have the assets that counts with BP but the price NOT to have the assets that matters in the end.' The two 'prices' are not necessarily the same and if two or more interested parties emerge this view will manifest itself in a bidding war.

'What don't some understand...' I quite agree Bella and would add something else from a commercial aspect.

Anyone familiar with T/Os knows that there is always the 'argy bargy' as regards valuation of the assets of the target company. So when we had both Launch and Coris any potential bidder would have had to put a value on both of these these - even if it planned to dispose of them at a later stage. However, as the final sale price of Launch showed, there was little interest except at knock down prices for Dx assets and I suspect Avacta finally had to face up to the reality that it had to accept a 'fire sale' price. And as the Interims of 30/9/24 showed just a £0.1m profit on TOTAL Dx's revenues of £11.2m I can only conclude that Launch was continuing to be profitable whilst Coris is loss making and so dragged down the total Dx interim profit to a paltry £0.1m. So I will be very pleased if we can offload Coris for c. £2m taking into account the disastrous sale price of Launch.

Anyhow, whatever we get for Coris, both Launch and Coris have so far acted as a 'poison pill' to any BP interested in the Tx side only - so once Coris goes 'under the hammer' so too does the 'poison pill'. Then as we develop the Tx assets - and I'm very confident on what I have seen and heard so far - that's when the real interest starts - especially if we can accelerate the Nasdaq listing.

Plenty of upside here for investors prepared to do their homework, understand the risks associated with the biotech sector and have a timeline of around 2 years or so to let this incredible journey we are on come to some kind of fruition one way or another. All IMHO.

Bline

You just gave me the perfect line for Liz's future epitaph - 'Here lies Liz Truss. PM for 49 days. She meant well.'

Thanks

Nano

As Lady Macbeth said : 'What's done is done and cannot be undone.'

As myself and others said at the time - and IMHO - that the previous CEO was 'taken to the cleaners' , 'had his pants taken down' etc. etc. with his utterly reckless and way over the top price for LD. Even the most cursory examination of the Dx market at the time showed that it was not in a good place. The performance of Dx companies such as EKF showed this to be the case. But then AS wasn't using his own money to gamble in such a stupid fashin. He was using our money as shareholders! And today's RNS has exposed the ineptitude, incompetence and 'Liz Truss Class' delusional stupidity of the previous CEO for all to see.

But that's now all over as far as I'm concerned - and whatever we get for Coris is 'money in the pot' for Tx. The focus must now be on Tx and the progress of AVA6000/6103. And whilst I expect to see some SP volatility over the next few months I also expect greater interest to surface in our Precision platform which will make today's SP seem a joke.

Lots to look forward to for those with a timescale of at least till the end of 2026. So many commercial options will present themselves over that time period for those with the required patience. All IMHO as a LTH.

AVCT

1 If you don't think that selling something that cost £30m + extras for c.£20m is not a clear cut loss, ie £20m -£30m = minus £10m, but is as you euphemistically put it a 'haircut' - then I doubt that you are fooling anyone on this BB other than yourself.

2 You state :- 'Oh dear Nano best sell then bye'

I did not ask for your investment advice and I very much doubt that you are professionally qualified to give any judging by the substance of your postings.

3 For information I hold four university degrees from different London based universities - including two at masters level. And the fact that your response is to my university qualifications is one of 'ROFL' is a reflection on you - not on me. You are clearly trying to demean my point of view - even on whether something that would be sold for less than paid for - as something other than a loss. Such 'logic' ranks as the most 'Trumpian' nonsense I've read in a long time.

4 Nano is going nowhere. I'm a registered LSE user and my investment in AVCT is not currently for sale.

AVCT

Selling assets valued at £30m for say £20m which you say is 'fine' (!) may be just a 'haircut' from your perspective - from mine it's a bad loss - pure and simple. That is why any company's P&L shows only 'profit and loss' - not 'haircuts' - however bad those 'haircuts' may be.

You also need to add in the cost of borrowing - ie interest payments - to acquire and grow the assets plus the lost 'opportunity cost of capital' ie where capital may have been elsewhere invested. Any loss also needs to take these aspects into account.

The above is based on my own business experience and what I was taught on a specialist biotech orientated masters level course at business school. So by all means express different points of view but accusing others of 's**t stirring' is wholly unjustified, deliberately provocative and totally uncalled for IMO.