Member Info for PL75

Chris refers to herself as Chris. I'm sure over time she'll adopt other names, much like Alan, who used to call himself SirAl, WaffAl and even Alastair occasionally.

Thanks Timster, I'll give it a try

Timster, can you explain further?

I’ve been critical for years, thank you. No issues with the M&A, it’s the original Dx that’s drained the cash - Alan’s pet project. It’s no shock that Tx needs cash on an ongoing basis, if we could have raised at a 10% discount, why didn’t we? I blame Alan, he had PI cash on the table and chose to grease city boys to get what he views as a prestige name on the register. Unless Bella’s theories are right, it’s looking like he was led by his ego. He was delighted by courting Sequoia Carpets, it meant nowt to the business. If they were strategic partners and willing to provide on going cheap finance, kudos to him. They weren’t, we’re just a punt for them. If it’s sold for £1bn, it’s a massive failure.

I’d be fascinated by a discussion thread on the general board with all trades posted as they happen.

Otherwise, I imagine some dribbling window lickers with a set of crayons absolutely love the painting by numbers series from the catastrophically failed gambler.

Quality assessment Nano. Think you hit the nail on the head in your final sentence of point 3. Pretty sure Alan felt he knew best and enjoyed his lifestyle generating position. His stubbornness has held the company back. Perhaps there have been clashes and that's why CC was confirming that everything was now on the table. Good luck to her, here's hoping she has a good strategic head on her shoulders.

Rory, I agree that the finances are in a state. They need to get rid of the garbage in Dx, slim it to a profitable position so that it can contribute or be sold to give them the cash runway they need. A fire sale of Dx would also achieve that as 2026 could be the year that they get marketing approval for an indication for ava6k. They're not far off delivering commercially if you think in years rather than months and they're sat on enough to 'probably' see them to 2026. I also agree that the research pipeline that CC is excited about could be seen as a cash drain - unless their preliminary conversations lead to licencing opportunities from this PoC work. I'd prefer that they get ava6k over the line, start making cash and then start expanding their horizons. I'd be delighted for Simon to sign a deal and prove me very wrong.

Early fall? The yanks are here! Yeehaw! Roll on t’internet switch on time. NY prints on the way

I'm happy with Dx now we've got it, if (and whilst Tony is doing the sums we can't say for sure) it is cash generative. Tony reckons this will happen in H224. Selling it at a loss would compound the original M&A strategy error. If it's adding to the bottom line, keep it. Hopefully it'll generate enough cash to cover the HCI payments in cash.

Beautiful. It works.

Easily said - Probably yeah. Unlike Tony I can also subtract. I'm popping in my CV for the CFO role now....

Still selling pitch forks for the AGM notrex. I'll scratch out Alan and get Tony on there for you. I would imagine that CC knows that there will be some awkward questions at the AGM if Tony is still there.

Tedious twunts.

it’s in the open. it was a **** show. alan has gone, tony will go. it’s only a festering sore in your head. the ceo will be looking forward not back and slating alan and acknowledging he made bad decisions does her no good. yesterday’s waffalesque answer (a final tribute, it was like he was in the room…. maybe he wrote the script as it was scripted) showed that it’s not going to happen. move on. if you can’t, meh, stew on it forever.

What detail do you want? They went to the market and said they wanted to raise. The market said certainly sir, please bend over and relax, this won’t hurt a bit. The detail is in the video with Paul Hill, the funds wouldn’t stump up without that level of discount and because Tony and Alan don’t know how calendars work it was left too late to do anything else.

It’s done. The money is in the bank. We were told yesterday it should see us through to 2026 - although that assumes that Tony can add up, so maybe it’ll only last until ‘mid summer’.. They have at least a year to do a deal or extract cash from Dx. The huge potential beyond that is still there.

Today's presentation made it clear that the platform works and it's dox that's only failing for indications where it's not suitable as should be expected. That clearly suggests they're switching the pipeline towards the most potent of warheads and looking to demonstrate the advantages over ADCs. Perhaps ava3996, given it's further down the line might be something they can license sooner rather than later. Personally I'm comfortable with slow and steady, batten down the hatches, get ava6k to the market and use that cash to accelerate. At some point it'll steamroll. Pleased to see them talking about Dx generating cash to help fund Tx - that was one of my questions. It was great to see that their emerging strategy is being led by the data and the proving up of the platform. As mentioned on the webinar the pathfinder has been a success.

And the likelihood of that is zero.

However, if you want to attend the AGM with a pitch fork, good news - I have a sale on.

It's done. You're baying for blood in front of a carcass.

"they raised too late". You've just answered your own question. Alan blamed difficult market conditions, Chris can blame Alan. It's irrelevant now. Some wanted heads to roll, one has gone, I'm sure there'll be another. Lingering on Alan's mistakes is pointless now he's gone.

Too many chiefs, not enough… are we allowed to say this kind of thing nowadays? Anyway, I wouldn’t say no to a tightening of costs to get AVA6k commercial. Do they need a load of R&D spend for a large pipeline right now. Start building an empire once the foundations are in place. Tut, Chris needs to go…