Company credibility26 Mar 2024 13:55
Said all along they weren't selling CDT shares at a huge loss. (Given the placing has occurred they, as in CIZ might get desperate)Those that inferred it constantly know though.
Placing is a proper slap in the dish. Typical micro cap behaviour. E3 Fund couldn't have been keen to provide the £500,000 drawdown (which was fixed at 2.1p for those suggesting it could have been less). Company said they would need at least £1million so more pain to come.
1. Why NEW antibodies ?
"The Directors believe that the new antibodies from this development programme should extend the range and proprietary rights that the Company has for detecting the CIZ1B Biomarker."
This was interims 28/09/223 - ""We have now expanded our range of specific monoclonal antibodies for CIZ1B and as recently reported we are now deploying these on a high throughput laboratory platform provided by Bio-Techne, a $12 billion market capitalised life science and biomedical research group. Bio-Techne have worked closely with Prof Coverley's research team at the University of York and, having completed a successful evaluation programme, we are now able us to accelerate our clinical trials programme, initially in the USA."
So why new antibodies? Why a new Supplier ? Are they an improvement, an addition for detecting additional cancers or have CIZ and the team found the previous monoclonal antibodies to be inadequate?
Previous cost for Monoclonal Antibody & Reagent production - £30,000
Clinical samples - £25,000
Kit development and Clinical trials - £230,000.
So is it increased costs "to enter the scale-up and manufacturing phase for the main components of the Company's proposed commercial test for CIZ1B."
That is the majority of the placing swallowed up. Minimum £285,000 - £350,000 (or even more)
2.Patent - previous costs £10,000 - So how much more to pay ? Is it a fresh application ? My view remains Patent grant is a long way off. (13month at least by USPTO or hopefully sooner for the current Application Number 18/188,958) Minimum further expenditure possibly £10,000 - £15,000. Or more ?
3. York Lab support costs - Prev expenditure £50,000 - So maybe another £50,000 - £60,000
4. Development of LDT Certified Tests - £25,000 - 2 YEARS AGO - How much still needs to be spent ? Another £25,000 - £35,000. Even more ?
5. Marketing and overheads - prev expenditure £20,000 - How much are they paying Mr BB and paying to set up the US co in Texas - Minimum £20,000 - £50,000 possibly more ?
6. Salaries - £20,000 - has that stayed the same or is there higher expenditure since 2022 ?
7. Additional research - Prev expenditure £40,000 - So how much has been spent researching the "NEW" antibodies ? Minimum £40,000 - £100,000 possibly (since 2022) ?
All in all does it really sound now like CIZ have a test ready for clinical trials or are they still developing a LDT test that actually works ?
Finally the post on another platform about insider in