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So Trek, now the cards are on the table. AI would be great. Are you going to put down at this price (lower than 2019 SP when they made 170-180k revenue. I get the balance sheet got out of whack and they sold a number of assets to cover this but.....is it not the case that with a cash cow service and a close to all time low SP, this is a no brainer? Or do you think we will only know in 1 year. ..When we get the next clue

Here a couple of lines from Paul Hill.

https://www.linkedin.com/posts/paul-hill-a5994116_onc-onc-immunoinsights-activity-7066322496001585153-NU5_?utm_source=share&utm_medium=member_desktop

I am slightly disappointed and at the same time happy. Disappointed because I feel like the asset sale could have been avoided but it was not making money anyway. So hopefully as stated below, it allows for a sharper focus on the core service (IMMUNOInsights) and avoids inefficient overheads. Excited because I feel like we have a cash cow on our hands now. I am missing a forward view/ a vision. If IMMUNOInsights was sold off this year too I would be gutted. Waste of years and money. I had higher hopes for this one than a 1.5gbp tag.

Thanks doc.

Well I wouldn't want anyone to get into trouble because I am asking questions ;)

Does anyone know any more about the potential asset divestments, funding structure, breach of IPF Partner covenant and possible waiver? An update would be welcome. Even just rough timeline for when updates could be expected. Also lets keep it positive ;) enough trouble in the world as is. We need more companies like Oncimmune and to give them a chance to grow. The seeds have been sown.

Seems to me like Oncimmune is confident they can weather this debt to equity shambles in the near future, given they are planning a mid-term replication of the Dortmund facility in the US. This would of course require additional and potentially significant investment.1. When will we learn more about the breach of covenant?2. Revenues for H1 FY23 already exceed the total revenue for 15 month period to Aug 22. What is the revenue guidance for FY23? Does anyone know?All I see is that pipeline should be around 16.5mio now.

There is no limit how high a stock can go. But when it crashes, it can't drop lower than 0.
First Covid, then war, then global banking collapse, then deep recession, then world war, then in 2028 a glimpse of hope?

I am spamming the board here but just wondered if anyone else noticed UBS and Barclays seem to have for the time being at least sold their share and we have a new set of shareholder incl. BNP, HSBC and Credit Suisse. Have those three always been in or is this more recent?

Just added a few at these levels. Would probably make sense to wait as Trek mentioned for the dust to settle but I cannot see a better opportunity to buy the shares this cheap....ever again.

This year will be defining and different.

*Net debt (+8.4M) - dramatic increase

We all bought in when the company (pig in a poke) already demonstrated borderline cash/debt management .

In summary YoY 2021-2022:

Revenue £3.79M (+£70k).
Gross profit £1.83M (-1M)
Share-based payments £1.69M (+£280k)
Administrative expenses £8.70M (+3M)
R&D expenses £1.85M (+230k)
Loss after tax was £11.52M (+6.5M)
Gross cash balance £1.43M (-7.2M)
Net debt £9.2M (-£8.4M).
Additional €3.0M drawdown in December

The company's debt really needs to be reigned in. I am not sure how much lower this SP could possibly go but I sure hope that the long awaited material revenues are on their way. Encouraging to read about the success that the US operations are having with Biodesix. Hopefully we can celebrate similar successes within the UK.

The numbers at the top are definitely not screaming BUY. But the business opportunity is there and I would hope that most of the foundational work has been layed. When are ONC reporting half year results for the period ending September 22 - Mar 2023?

"Revenue for first 6 months of FY2023 expected to exceed the revenue generated in the whole of the 15-month period to 31 August 2022."

This should be good news, right? We should be at 3.7M revenue for the first half of 2023. If that were the case and we have a good H2 I really hope to see the SP move away from this depressing all time low level.

That seems like a sensible approach. Right now I have no budget left for ONC although I would love to be in a position to lower my 1.6gbp average.
A recent online analysis of ONC stock performance could be the reason for some of it to drop. In that analysis they wrote concern about the companies debt and the stagnating revenue. Over the last 2 cycles with only marginal growth. They may not be fully aware of all developments at ONC. I am optimistic but worry to fall into the trap of buying into management optimism too much as I have done historically. Hopefully if 2023 is an inflection year for Biotech then this should bode well for ONC. Biotech sector has undergone a brutal year with companies restructuring, cutting operating costs and overheads and consolidating. Although layoffs have been very high in the past two months the in this sector , I am hoping that the bulk of it is done and the market has leaned down and Is ready to grow again.

I am excited for ONC's future as they have put so many catalysts for growth in place over the years. I think and hope they are now going to experience a more accelerated path to growth Thanks to the Biodesix partnrship, approaching NHS approvals, MSAs signed with major Pharmas (this should be big for repeat business l. Once the contracting is done you work on the basis of call offs and purchase orders that should be significantly faster path to revenue, further international partnerships with hospitals in US and Spain as well as research institutions.

I remain hopeful.

@wyndrum.... I hope you didn't jinx it. You should know that ONC does not tend to react kindly when private investors buy shares.

More good news....

"Since announcing the Capital Raising on 7 December 2022, the Company is pleased to have signed further ImmunoINSIGHTS contracts with a combined value of approximately $1.25 million with an existing global pharmaceutical client, ..."

That was a throw away comment. I think that there is a majority Corporate shareholding in ONC. Central Banks still raising interest rates at dramatic pace. Markets and what the near future holds in store is quite fuzzy at the moment. Could mean that Biotech funding is staying dry for longer....I think that some moneys are being re-allocated to investments that actually have better chances of returns. ONc will be slow burner for a while longer. They need to prove in the next earnings report that they are converting deals and generating material revenues. The last earnings hurt.....the Company has to demonstrate that they are worth a PE of 10x in these tough market conditions. Market cap at around 35mio.....onc has to deliver higher revenue, demonstrate rich pipeline with solid growth forecast and importantly reduce spending and operating costs....

It'll realistically be this time next year when we are back at 2gbp.imho

Time to triple down

@itsyou - best of luck to you on your journey. I am yet to wait on the lifechanging money moment. Currently paying the bills working for the big man and trying my luck in markets, but right now trying to avoid Savings Leakage through gaping holes like Open Orphan, Destiny Pharma or Oncimmune. Not long and i will call the roof over my head y own....one day.

@grumpyfarmer - couldn't agree more with you. I am not worried about ONC as I always looked at this as long term, and given the market potential and ONC market leading tech/offerings (+profit margin associated with ImmunoINsights) this is one i just need to wait on a little. I am 100% aligned to your earlier post.

@Trek - I always enjoyed reading your posts here because they provided in depth information that I felt was tricky to source for a layman like myself. I purchased my original big batches just when ONC were conducting the ECLS studies hoping for a big boost once the results were published. The publishing didn't do anything as it was overshadowed by 8mio debt they took on to realise a 3 year structural growth plan. I think we saw the fruits of this effort when the SP hit its peak. I really think that Alistair and the executives (primarily in US) are yet to show their potential because to be honest it has only been 9months since they onboarded the wider team. If they are closing deals and signing MSAs with the top pharma's then at least some of the hardest part to realise revenue is done (for those target accounts). ON are building on this momentum. The increased debt we are seeing now is different to back then and is almost certainly linked to the increased spending to lay foundations which should support their international growth goals. I agree though that thisdebt needs to come down and i want to see and understand what the plan is to do so. Especially when you miss your guidance by some 25%.
Admittedly your posts did always shine an optimistic light on the technology and the companies strategy and execution (up until 2022) which may have helped me in my decision to continuously buy back in....but I dont regret buying more ONC and i did everything on my own accord.
Good luck on your journey too. you will be missed on the board here but if you decide to buy back in 2023 when the SP is 1.5GBP I will warmly welcome you back.

@KD37 - putting my mouth piece in and taking the gloves off now....

KD37 I dont blame you for how you feel. Deep down I feel the same way if not worse. I am not liquid but can not afford to sell at a 60% loss. Been waiting for a while. ...but it is simply not possible to keep this SP down much longer. I think we need some explanation for the high administrative costs....but other than that this business seems sound and seems to be doing g the right deals and playing in a niche field....I have no options but to hold....but in 1-2 years I dont want to look back and say that I waited in vein or even worse wauted and sold at a massive loss ...no way sir

Buting my tongue here a bit....but I think unless you have to exit to create liquidity I think it is a big mistake to sell now. The Debt looks scary but should substantially reduce over coming year. Dont forget that they probably factored in the new lab facility in Dortmund into COS. PIPE looks like there is some potential but the gradual increase in pipeline is encouraging. They state that the onboarding to become a supplier to the top pharma companies is is a lengthy and rigorous process that I can attest to myself. But once you are in you are in They do their due diligence. This is a huge confidence boost and you can imagine that there will be a huge amount coming out of the repeat business from each customer.

I feel like the Sales team They hired should start converting some of their opportunities ities towards end of year.

I saw this kind of price drop 3-4 years ago. It will come back and come back hard. I would say that some of the panic selling is also caused by federal reserve and BoE aggressive rate hikes that is putting yet more pressure on the overall industry but many other markets too.we need to just ride it out and will be at 5 gbp when the Bear is Bull again (in no time)

I hope you know I was being sarcastic here....I meant more like 8 years