Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Really insightful video - I took / inferred a few things from it...
1) He has absolute faith in both programmes
2) Traumakine being in two funded global trials means they don’t need to put huge investment into it in the near term.
3) Clevegen is a potential blockbuster drug and Faron will go it alone until he gets the mega-deal he wants. They now have the funding to do that (for more than a year).
On that basis, I wouldn’t be surprised to see a Traumakine deal before Clevegen, especially if results of the trials are good - there will be massive pressure to manufacture and distribute globally.
One thing for sure, I wouldn’t want to be in Rentschler’s shoes right now!
Only thing I can think of to explain today’s trading is that the MMs must have increased liquidity around the raise and now they’re reducing again.
After all, you can’t have a trade without a counter-party, even if it’s the MMs.
This pattern can’t continue... At some point you would think demand for shares has to exceed supply!
Zen, you’ve certainly got me thinking!
Are you suggesting a link between Traumakine (enhancing ENDOTHELIAL barrier), Clevegen (CLEVER-1 being Common Lymphatic ENDOTHELIAL and Vascular ENDOTHELIAL Receptor 1) and Clevegen’s potential for ‘ immune activation in various conditions, such as infectious diseases and vaccine development’?
All of the above is on Faron’s website but I have no idea if that’s a feasible link or a fantasy!
Multiple references to Interferon Beta1a (Traumakine), INTEREST study and post hoc analysis - essentially the rationale for inclusion in the trial. https://static1.squarespace.com/static/5cde3c7d9a69340001d79ffe/t/5e82b75942c101597f45c737/1585624939239/REMAP-CAP+-+COVID-19+Immune+Modulation+Domain-Specific+Appendix+V1.0+-+11+March+2020_WM.pdf
Yes, but Woodford now down to <5% if I’m reading today’s RNS right. Materially less significant going forward.
Would be interesting to know the volumes as an indication of US interest.
Glass half full...
We already know the tech has serious potential but... reciprocity in the license agreement with CMS means they can develop on MTPH technologies for China market and license back to MTPH for rest of world commercialisation. Less margin for MTPH but they are a real player so surely(?) huge potential as they wouldn’t invest with this deal structure unless they were serious. If a platform gets through initial hurdles to market then hold on tight. All IMO of course.
Glass half empty...
We need to stay afloat for next 3 years, we only have cash for 12 months or so currently, and AIM share price likely to drift with cash burn without news... so serious risk of repeat dilution event happening when cash near to running out (CMS and Woodford wouldn’t care as they will fund next round anyway if potential is still there - cheaper for them to retain %stake... IMO of course!).
Cards on table - I did participate in the open offer at significantly more than the basic entitlement as it’s real cash the company can use. So I’m a believer in the potential, but this is still a big, big gamble IMO.
That is correct, they are exercisable at 50p and from the documentation I’ve read they expire in about 3.5 years time.
So by my reckoning and IMO the market cap would have to be significantly in excess of £200m at the end of that period for them to be worth exercising, due to the massive increase in the number of shares (and consequent dilution for existing shareholders) in the fund raising.
https://www.biospace.com/article/pool-of-fda-user-fees-will-run-out-by-feb-8-causing-delay-in-drug-approvals-unless-shutdown-ends/
I noted the line ‘Also, the FDA has suspended reviews of existing Investigational New Drug (IND) and Biologics License Application (BLA) applications not covered by user fees.’
As we know, FDA feedback is key in short term. But does anyone know if/how the partial shutdown of the US government (including FDA) might affect feedback timescales?