Member Info for Noise

OK this is truly becoming the Eastenders soap drama of AIM now lol

Some pleasing recent results.

Am very happy with Autolus recent results, the closed process seems to be working very well.

VAL401: US9375433B2 (granted) Not sure what US9585890B2 and US9585887B2 are

VAL101: EP1470226B1 (granted, probably due to expire, not sure what extensions can be made for approved products)

Bank, as of Aug 2019 (G=granted, A="Allowed"), the patent status was:

VAL 301 EU 12840836.6 (A) US 10,023,612 (G) ZL2012800657582 (G) RU 2684315 (G) GB 2496135 (G)

VAL201 US 14/888,214 (A) US 9,919,023 (G) EP 2139917 (G) JP 5998161 (G) JP 6456922 (G) AU 2008228274 (G)JP 6545122 (G)

rhd1, for what it is worth, I have voted for the proposed resolutions.

I appreciate why others may vote against them.

I don't really see much alternative, and I do not particularly wish to get involved in direct funding, so I see little personal benefit to my own agenda. I merely hope to plod on through until the 201 data results and see if that resolves things, if they are not to my satisfaction, Valirx is my only remaining AIM share, and will be the final AIM share I invest in.

I have made some excellent returns on AIM, but the stress is barely worth it. I have made 11x and 6x returns on AIM, but I also invested in Quindell and Valirx (ouch). My FTSE and funds have been a steady 4-8% a year grower for me since I shifted the majority of my assets into those sectors.

I think Satu could do with signalling a salary reduction. I understand that some bonusses are "task completion" oriented, but was it really necessary to give a £40k bonus during a 3-year period of 95% price decline?

I mean...frankly she is a nice person to talk to and well educated, but has she delivered anything in the last year? Her salary alone will raise the share count by 200m+ this year (13+%!). The finances are a mess (even by AIM standards) and most things are late.

George is at least focussed on actively developing 401/201, which to be fair are generally pushing forward (albeit slowly). Satu's main attraction was the VAL101/GENEICE project, which may yet come good in 2025, but has been going backwards for four years.

201...if it works it will be great. It has been far too long without an update and that either means they are waiting for equity release to pay for the staff, or...well, it doesn't work properly.

Cool, well I probably won't make the EGM, doubt they'll show any data but would be nice to say ello to George and Sats

Maybe catch you next time! Cheers, Steve

Uhhh, Roses, I think we're both correct, depending how you look at it

I think you are correct for number of shares in issue, but I'm looking at it from a "value" point of view. If they double the number of shares, the existing shares will have effectively dropped in value by 50%.

Clearly in this unusual case VAL have long term dropped in value by nearly 99%, but not quite 100% ;)

Basically, I think we are now in the following game

-Voted down - Company folds (unlikely? but who knows), assume assets go back to previous owner (CRUK? not sure)
-Consolidation (effectively changes nothing in the larger picture)
-Gives permission for them to dilute half the market cap at the going market value (I think? based on historic behaviour)
-New shares will almost certainly be issued on February 18th, if approved
-Presumably the 201 trial data will be released on February 19th to help shift some of the 'new' shares???

Standard consolidation for this really?

I half understand the need for the RNS, it was quite expected, but really I'm more annoyed that clearly they have no plans to sell 201 for megabucks by March.

I just had heart palpatations in the office (not helped by far too many coffees).

I opened some random share price website on the web and it said VAL share price £0.100 , I clicked further and unfortunately it was a bug in the graphing software, it doesn't seem to like values below 1p!

Back to reality...

Strange, well TeamHanz is not known for being a sockpuppet with devious anti-VAL intent, so I have no reason to believe him.

I find it.....peculiar and embarrassingly poor behaviour if a company director accidentally cc'd news of this nature to a group of various people who aren't company employees. One would be dim, two would be ... on the limit of plausibility.

We do have various types here who go to great length to interpret anything and everything in a negative light, and you do have to question those people, particularly considering their other aligned motives.

Who knows? Frankly the cash is running out, have we got a real partnership lined up?

Ha, yeah, christ I'll accept admin at this point if we can just see the bloody dataset, at least I can switch off and move on.

Team, no I haven't, is it particularly bad?

I have tried to avoid joining the WhatsApp/group e-mail thing. I didn't want to get sucked in that far.

Hm, whatevs

If 201 is any good, frankly it will do us no favours if George goes off in a huff. Drug development is not something you can just walk into overnight, even at the Dr/PhD level.

He probably just means the knowledge in his head, but it's not like you could sell that on eBay.

Why are you all getting into a flap about patents today?

I have a modest understanding of patents (by no means an expert). There will be a record of 'ownership/Applicant' and a record of 'inventors'. From recollection there are various 'inventors' listed on Valirx patents (including the original 2x Italian academics who designed the peptide, CRUK who licensed it, and Valirx directors who bought the commercial rights to the compound). For example, if someone worked for Merck and developed a drug, you'd be named as an inventor, but by no means would you 'own' the patent.

I forget the specifics of how the CRUK deal was structured, but I assume they have a milestone payment agreement and royalties etc.

Oh fair enough. Is that official, or semi-official?

It should be an "interesting" year for Valirx

They will soon (hopefully) have 2x cancer drugs in phase 3 (or phase 2b/3) by the summer, with relatively large target markets. Now it is a crowded space and oncology is a moving target, but that's not a terrible situation.

I keep forgotten about the endometriosis trial, presumably that will start in Phase 2 when funds permit?

From recollection Valirx had loaned Valiseek money, so there may be a small pot (was it £300k to £700k?) that Valirx were trying to recoup before the phase 3 trial started. But otherwise Nomlungu has pretty good reasoning with their prediction.

Where are we with the 201 results now.....it was coming to a conclusion 6 weeks ago? A dataset of some kind would be desirable.

As a compliment to Suzy; including historical expenditure, VAL401 has the potential to be a marketable cancer drug, with a total R&D expenditure of less than £8m. That is... Statistically unusual.