Not if she gets us a half decent update which is expected given that another RNS regarding the delay is due.
Also she can get out some other news and any placing does not need to be discounted much given that we are heavily undervalued anyway and any working capital should be kept to a minimum due to our current SP.
13 Million market cap. Just WOW.
Time for a change? 201 deserves better updates and I hope it is not being parked like 301,401 and BC201 with no clear evidence of progress over the last two years.
Possibility for three news before the AGM to help the SP.
1) The best news would be if Adam joined in some capacity. I am sure VAL would be happy to pay a premium rate for a man with such skills and experience. That will be the best news VAL has ever had and will bring huge confidence.
2) A real update regarding 201 and the funding position.
3) Positive news for the triple cancer drug would be most welcome.
Time for the board to STEP UP or STEP DOWN.
201 needs regular news from a board that wants to drive the share price forward and create excitement. Funding position, Trial set ups- anticipated/actual number of hospitals/ patients and timelines, Patent news and whatever else to bring confidence back.
Nomlungo,
Nobody said information needs to be shared openly and as I understand it if a non-disclosure agreement can be signed and if the individual does not buy within a period then it is allowed. If the only way is if a large shareholder joins the board then so be it but we need independent verification of what is going on. The deal was also very favourable towards TRX and I am becoming somewhat suspicious.
You constantly keep advertising Cenkos details which you should not be doing as no mention of a placing has yet happened which has been made public in an RNS. The fact your post last week was removed with contact details for Cenkos points to the fact you are breaking the rules.
Suzy and Kevin are responsible for destroying the SP. They both should have asked sufficient questions during negotiations and checked progress with evidence after giving the first extension. Also they are not acting in our best interests by not sharing any information at all. We are not saying we need to know everything but why are you so confident?
All this uncertainty is only feeding people like Porky which in turn is making people more angry towards Suzy and Kevin.
I suggest we get a positive update by the end of this week. We need clarity and some of the uncertainty needs to go. TRX has nothing to lose so this situation is not acceptable. Also the lab should wait as we do not support it at this price. If the lab went ahead the deal will never get done and be forgotten which is also not acceptable.
I also support Nick's suggestion that you also update Adam fully including what other offers you had and why they were rejected including full details in regards to TRX and the delays because as shareholders we do not think Suzy and Kevin are acting in our best interests. Adam does not need to tell us anything. If he says that he shares the confidence but cannot say more that would also help the rest of the shareholders as he holds 10% so if he is confident then we will be as well.
Thank you Porky for agreeing not to post until after the AGM.
I agree with all the points in the letter. TRX can make VAL201 very successful so for me it's not an issue of skills that they have although the deal was not the best for us. What matters is are they able to raise the funds and how much progress have they made in 8 months and how much are they raising? Suzy must get us an update on this next week. Not a fan of waiting another two years just to get a deal whilst we get diluted and lose value.
The patent issue is an important one and they can extend the patent life to 20 years which will make this drug worth many billions if successful. Even after a successful phase two it will be worth very big money.
They have decimated the share price and they all need to take a hit as well and pay some money to hold exclusivity if it takes longer than a month.
I don't hold much hope that they will try and progress the legacy assets possibly because they don't want to or are not bothered and for that reason they need a money hungry person with business skills on the board to take action and drive the SP forward.
That can all be sorted out with the right team to give the full 20 years from the point of application. Not an issue just that the potential partner will need to have the skills to be able to do that which TRx has.
It's simple. If they are close they should be allowed to proceed. Failing to do this means we go back two years. It will take months/years for another deal to come through.
Just like anything in life they should pay some deposit as a commitment and the longer they take the more it should cost them. We have been very generous so far. They should already have paid the consultancy fees as Suzy promised which they have not done or pay some upfront payment as they promised it would be done last year.
It should not be for us to pay for this mess. Adam would be great on the board but it all depends on all his other commitments as it is hard for someone to drop everything at short notice. I am sure we would support him 100% if he joins the team as CEO or even just to sit in one or two meetings if he wants or is able to. I don't think Suzy has shareholder interests at heart and is not really bothered about the SP and makes careless mistakes.
It's in our interest the deal proceeds but only if it is close to conclusion and if TRX can provide some payment. It will take a long time to market 201 again and to find a new partner and the strategy will suffer with us sinking to a much lower level.
The uncertainty should not continue. I think they have had enough time and I expect a real update from Suzy next week. A very sloppy update yet again.
I think we will be fine but we need to think about changes moving forward as mistakes have been made throughout the last two years.
Have a great weekend.
Changes are needed unless and only unless a large shareholder comes on board in some way to sit in the important meetings. Obviously people have other commitments so it would be dependent.
They have not progressed anything in two years and the delays have been shambolic. If they checked progress throughout then this would not have happened. They are giving it all away at our expense. Therefore it is fair some changes need to happen.
Porky you are manipulating again for your agenda a cheap placing. Adam and Nick will not allow it so best not try.
They don't need to raise that much. They are owed money from this deal including consultancy fees. The lab will have to wait until the deal is concluded due to what they have done to the SP so that should be later on now.
Porky they can request funds to extend the deal. She is owed consultancy fees still which would amount to a decent sum by now. I would have assumed TRX had at least raised something for Suzy to be so confident. No point ending the deal if it is close as it will take a very long time to get someone else.
A few months of wages will not cause a problem to the SP but really changes are needed. BOD should take some responsibility for a change and one of Suzy or Kevin should step down.
Different outcomes below in my opinion. This should highlight how low the current SP is based on the possible outcomes.
1) Deal gets done 100% complete. Positive from current SP
2) Part funding. Positive from current SP
3) No exclusivity but positive triple cancer news. likely Positive from current SP
4) Exclusivity remains as near completion positive RNS but not complete. Positive from current SP
5) Placing 20p range and exclusivity ends. Negative but likely temporary
6) Deal and triple cancer news plus trial set up news Positive from current SP.
7) Placing with institution but at a premium price and then deal soon after. Positive from current SP.
Not sure of any other outcomes. This shows upside is huge and our SP is now lower than it was for much of last year without a hint of a deal.
WestCountrybo,
It's all based on calculations and matching lots of information from various sources which gives me an indication. That would be very complicated to share with anyone. Nobody knows when but I am confident they will proceed with this deal and therefore had another small top up as well.
We all have to do our own research and look at various sources and decide what we think. Only point being made don't panic and do the investigative work.
I meant on but not done.
It's all fear. No downside imo. News to come regarding the deal and a possible 200-300 rise in one shot plus triple breast cancer news.
We were often higher than this price last year before any hint of a deal. Also numerous drugs under evaluation and regardless of delay or no delay SP will eventually go past this.
Comments from Kevin in the RNS over a week ago indicating they look forward to a successful fundraise. No reason to doubt.
Totally agree TDK. I don't remember a time when it never went below placing price and then go back up.
Also a low price would not be accepted by the main shareholders. I doubt Adam would be buying another 10% in a placing so he will not be happy if they call one at a crappy price and we will all support him. EGM time if so.