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Third most read RNS after Tesco and Barclays… surely doing to get some coverage in the press. Short but sweet which implies that there will be another RnS in short order to explain what they are going to do now clinical. GLA
Over the past 2 weeks in excess of 100m shares have been traded, equivalent to ~10% of the issued shares, and almost 200m over the past month. Why is that important… average share price being held. With an increasing VWAP over that period, the base level for PI’s SP has increased which firstly limits some downside risk but more importantly strengthens the support level for any upside potential on IND RNS. As a comparison the prior month was 31m. And for those interested, the highest volume day in the past 12 months was 107m in a day with the Prevail investment.
Based on the 16 Jan RNS, we are now 23 days in (max)… so we should be hearing something before close Thursday. Fingers crossed and GLA.
Wouldn’t be unreasonable for some PI’s to bank risk free profit and think that no news is potentially bad news as we but up against the deadline. Personally I’m in for IND as the issue is a known item, HEMO has re manufactured and solved the issue, Prevail onboard during the re manufacture process and invested ie they would have done their diligence so I think IND is relatively nailed on. Always a small risk but the balance of probabilities is in our favour
I appreciate it is market sensitive but that doesn’t mean BoD don’t intentionally breach that requirement. Come up with a rationale, eg wanting to get verbal confirmation from FDA to ratify any written correspondence. 24H delay with justifiable cause. Bobs your uncle.
Under UK regulatory framework dilution of 20% + in any 12 month period requires a prospectus to be issued to shareholders. Timely and expensive. That period expires after today . See 8. My opinion is that IND accompanied by a fund raise will be issued.
https://www.fca.org.uk/publication/call-for-input/further-issuances-equity-regulated-markets-engagement-paper-2.pdf
I’m pretty sure it will be tomorrow. I think IND is received and they are waiting for 7 Feb so can issue a fund raise required to do the trials. Will be outside of the 20% equity raise period then.
Here’s hoping anyway
Having bought my first share in August 2020 at 10.22p, there is the potential that over the coming weeks and months, even that SP may be achieved. 11.66p is the highest I have ever paid. Over the years I have managed to average down with the lowest paid at 1.33p.
Hopefully it isn't another false dawn and IND will be achieved in the coming days to mark HEMO going clinical and be part of a multi-pronged pharma company saving lives. It has been a roller-coaster over the years, peaking at almost 15p and as low as 1p. The next week or so will be pivotal in the success of the business going forward.
GLA
I would have thought there is a minimum period over which the closing market cap has been 50+. I don’t have experience but just having one day hit that threshold seems unlikely so I imagine it would be, for example:
Average closing market cap over 10 sessions is 50m
Minimum of 10 consecutive sessions over 50m market cap
Obviously it could be a longer period than that. It may also need a round of funding previously valuing the business at 50m+ maybe.
If you ignore total voting rights and price monitoring type RNS, then 12 of the past 26 company RNS have not been 7.00 RNS. Of which 8 of 26 have been UK afternoon RNS, so just to set expectation, an RNS could drop anytime.