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Destitute you make an excellent observation..
I do not know if there is any connection between Bird Flu and the Coronavirus.. but the authorities should at least be knocking on the door of SNG to review their research and trials of Interferon B..
Southampton, UK – 4 May 2011: Synairgen plc (LSE: SNG), the respiratory drug discovery and development company with a particular focus on viral defence, announces that interferon beta (‘IFNbeta’) is effective against H5N1 (‘Bird Flu’) in in vitro testing.
Avian influenza, commonly called ‘Bird Flu’, is an infectious viral disease of birds. Most avian influenza viruses do not infect humans; however some, such as H5N1, have caused serious infections in humans (mortality rate of over 50%) and are a particular concern for influenza preparedness programmes.
In the experiments, Synairgen’s IFN-beta protected human lung cells against infection with Bird Flu (virus strain: Influenza A/Indonesia/5/2005 (H5N1)). By the end of the experiments (48 hours after infection), approximately 100 times less Bird Flu virus had been released from cells treated with IFNbeta than those without IFN-beta.
Today's Sunday Times writes that W G Partners have been trying to raise £550m before a period of exclusive talks to acquire the portfolio of 20 start ups held by fallen fund manager Neil Woodford runs out at the end of this month.. although it could seek an extension..Whilst SNG is not specifically mentioned I would conclude it is one of the 20 within the portfolio package..W G is understood to value the individual stocks at about 55% of their peak worth. W G plans to base its new investment fund in the Cayman Islands with the management team in the UK.
At 10.09 a sell of 1,000,000 shares went through the market... This nearly 1% of the share capital of the SNG and in a single trade... Is this now the beginning of flooding the market with chunks of the Woodford holding.. or is it an exit by one of the major shareholders .. No TR1 has been issued either way .. Who might be the buyer of such blocks of shares ? and why at such a pivotal time in the SNG story ?
Rich... Agree entirely, but there may be some logic behind (if it is the Administrators) . I do believe that its Blackrock who have the responsibility of placing the 20% SNG shareholding previously held by Woodford... They (Blackrock) may have received bids for their SNG holding... The Bid Price may well have been at a significant discount to the market price and in order to justify a sale (which I suspect is imminent) The share price has been driven down to less than an outrageous discount , possibly where or near where we are. The 20% holding is currently worth approx. £1-£1.2 million..you would think at this price the entire holding of 20% would be snapped up... But what do I know !!! A TR1 should be expected soon to show any major reduction or increase in a current holder or even a new holder...
Latest from Pharmaxis :
Partnering of best in class anti fibrotic LOXL2 inhibitor program The company confirms that it is engaged in discussions with potential partners and that those discussions will continue into next year. A variety of deal structures are being considered including global pharma and regional pharma deals, all of which fund the future LOXL2 inhibitor development program.
Boehringer Discontinues Development of BI 1467335 for NASH
Boehringer Ingelheim and Pharmaxis Ltd today announced the discontinuation of the development of BI 1467335 for the treatment of NASH (non-alcoholic steatohepatitis). BI 1467335 was acquired from Pharmaxis in 2015.
Boehringer's phase2a study in diabetic retinopathy remains unaffected by the decision.
The full media release is available
Pharmaxis simultaneously provided an update to its business plan:
Boehringer's decision has no impact on short term cash. Pharmaxis had $23m at 30 September and has since received a $6m R&D tax incentive
The company is funded to deliver partnering of its LOXL2 inhibition program and commencement of clinical proof of concept studies in myelofibrosis.
The Pharmaxis Conference Call / Webcast to update shareholders after having digested the feedback from Boehringer Ingelheim (BI) concerning its future development plans for the lead drug (BI1467335) which Pharmaxis sold to BI in 2015.
Will commence at 10:15PM tonight...
Full details can be found on https://s1.c-conf.com/diamondpass/10003237-invite.html
Webcast Details
https://services.choruscall.com.au/webcast/pharmaxis-191218.html.
Just an observation... Pharmaxis shares have been suspended whist they digest the feedback from Boehringer Ingelheim (BI) concerning its future development plans for the lead drug (BI1467335) which Pharmaxis sold to BI in 2015. I suspect the feedback is not good .. this may prove though positive for LOXL2 where Pharmaxis might need to conclude / announce a partnership deal pretty quickly to offset any bad news on their lead drug (BI1467335)..Conference Call to detail Pharmaxis Management response tomorrow..
Today has identified (again) that there is a major seller of SNG shares in the market... Is it the new holders of Woodfords near 20% holding or others who appear to be selling at the lowest possible price with the highest number of shares.. At 16:01 150K shares were sold in a single transaction at the lowest price of the day 7.0p... Who ever is selling these large blocks must be aware that it is continually causing significant harm to the SNG share price or simply they (who ever they are need the cash and are prepared to sell at any price they can obtain ) will other large bundles of SNG shares come onto the market and further decimate the share price.. If they are Woodfords holding there is a lot more to cash in, price does not seem a barrier to the seller..
Another example of what I believe is a continuation of Woodford's holding slowly but surely being sold down for cash at what appears to be any price obtainable.. 70K shares were sold at 7.3p against a showing bid price of 7.5p. This in my opinion follows a continuing trend of selling of large blocks of SNG shares at low low prices.. hence keeping the SNG share price under the cosh and unable to rise whilst the seller continues (desperately) to get rid of their stock at what appears to be any price.. A permanent home is urgently required for Woodfords entire holding in SNG and only then might we see progress to a more realistic price..
Two observations , Who is the buyer of these Blocks of shares ? No TR1 has been published ..and what if anything are SNG Management doing to try and find / influence a new permanent home for the Woodford holding..
https://m.youtube.com/watch?v=CMbfZ88x588
Pharmaxis CEO speaks to CommSec
As part of last week's multi-city investor roadshow Pharmaxis CEO, Gary Phillips spoke with CommSec's Tom Piotrowski about the company’s upcoming milestones.
Watch the interview here.
Thank you Rich for your update....I also believe we will also see some positive developments..
No1 in my view would be a permanent home for the Woodford share holding.. and an owner who understands both the time-scales SNG are working to with the Interferon B trials and the potential significant reward if all goes according to plan.. Not forgetting at all the potential value to SNG of a favourable partnership agreement for LOXL2 by Pharmaxis.
What I have noticed is there are regular drips (Sales) of SNG shares of high quantity e.g. 25K, 20K, 15K, 10K over the 4 weeks
Today and yesterday two lots of 25K went through the market at the lowest possible price as did the other sales bundles I mention above.. This could be a distressed seller if so they really have chosen In my opinion the worst possible time as there is no negative news but potentially good positive news to come.. Or it might be drip selling by Link Fund Solutions who currently have ownership of the 'difficult shares' in the ex Woodford portfolio trying to convert anything into cash even at crash prices... Not sure which .. either way the Ex Woodford holdings remain an anchor to any real progress upwards of the share price.. Once a permanent new home is found for the near 20% of SNG one can see considerable upside as major unknown is removed.. More positive news including updates on LOXL2 and Interferon B trials could bring an early Xmas present to all shareholders..
Another large (historic / delayed) sell from the 9th Aug 2019 of 250K at 9.75p .. is in my opinion following on from the 300K sell on the 8th Aug... If these really are sells .. then they are likely to come from one or more of SNG Major shareholders ...As the price sold is at the lowest it has been for some considerable time ..my thoughts come back to a fire sale by Woodford.. if nothing else to demonstrate to furious holders of his Trusts that he is selling down many of his Bio / Pharma holdings.. even a reduction of a few per cent of his holding in SNG will result if a substantial amount of SNG stock going through the market... Can we expect an RNS to tell us who is the mystery seller sooner rather than later...It is these large Sells which I believe have driven the SNG share price down .. Just some thoughts
Today 'May' be yet another example of Woosford's fire sale of his holdings in SNG held in his various Trusts..
3 Trades at exactly 10:48 totaling (sales) of 140 000 shares and a trade at 10:28 selling 50000...
With no negative news in the public domain .. in fact finn-cap were rather upbeat about SNG propsects and LOXL2 partnership updates in the coming months .. Is this the beggining of Woodford's big fire sale in SNG or had it begun a while back when parcels of SNG shares 10K, 15K, 2oK and 50K are visible as sells over the past months ... Just some thoughts.
Pharmaxis are due to present "Targeting Lysyl Oxidase Like 2 (LOXL2) to Treat IPF"
at the The World’s Largest Gathering of IPF Drug Developers at the
3rd Annual IPF Summit 2019 San Diego ( 2:30 pm August 27 – 29, 2019)
Targeting Lysyl Oxidase Like 2 (LOXL2) to Treat IPF
2:30 pm
• Scientific rationale for targeting LOXL2
• Presenting preclinical data supporting compound selection
• Sharing clinical data for LOXL2 inhibitors
Wolfgang Jarolimek, Head of Drug Discovery
Pharmaxis
We might expect a little turbulence with the share price.. as
Woodford Investment Management own 24,316,651 = 22.2% of SNG Shares..
Large blocks of shares in not just SNG but other shares within the Woodford stable might need to be sold down to raise money for forthcoming and possibly mass redemptions...The problem is when you have a substantial shareholder with major liquidity issues and an urgency to raise cash.. Hopefully good news might defeat any major sales and a new major shareholder emerges.
From Pharmaxis Quarterly Shareholder Update – March 2019
We believe our LOXL2 program has an important role to play in treating both the liver disease NASH and
idiopathic pulmonary fibrosis. We have commenced the commercial phase of this program. This process
involves balancing the clinical development plans that potential partners are willing to commit to with the
cash value of any deal and the development milestones on offer. As for all partnering programs at this stage
of development, it is a complex and multi-faceted process which is also confidential in nature. We will
therefore not provide any updates until we reach a conclusion.
As a long term holder of SNG, i regularly watch closely daily share price movements.. What is interesting is that there appears to have been a number of high number sales below quoted market price.. for example today 125K shares were sold at 12.25p against a bid price of 12.5p. Who ever is selling ( my thoughts were Woodfords Equity Income Trust
where liquidations are running at a very high rate MIGHT just be selling down many of its smaller equity holdings.. especially as financial year end approaches.. ) We have had no RNS about a new holder of SNG equity above 3%, so where are these large sells going? Onto Market Maker books for resale when positive news emerges or elsewhere? we might have to wait and see.
If it is Woodford selling down to increase his ability to pay redemptions of hos trust.. then he is creating a fire sale of not just SNG but a number of his other asset as well.. at below market price whilst reducing the value of his remaining holdings in said companies.
With no negative news being reported and only (in my eyes) the timng of good news e.g LOXL2 partnering details, then my other thought is that the price is being manipulated down to trigger a number of stop loss accounts and accumulate a signifcant holding for a potential new holder or in prepapration for a possible bid... all this is nothing but speculation on my behalf and no evidence either way to support or dismiss.
Recent Funds raised by the Company are being used to enhance the number of participants in the current Interferon B Phase 2 trial from 80 to 120.... To clearly demonstrate that Interferon B has the optimum data package in the right number of patients that can give evidence to a large pharma that it works .. and hence increase the attractiveness to a Large Pharma to Partner and proceed to Phase 3 and beyond..
SNG is debt free and has adequate funds now that the fundraising is complete to see through the Phase 2 trial of Interferon B.. Pharmaxis intends to partner LOXL2 within 6 months with 17% of all proceeds coming back to SNG..
If LOXL2 which is currently deemed 'best in class' ... achieves a significant up front payment... 17% of a significant sum is an welcome initial return to SNG coffers.. with substantially more if it moves through Phases 2 & 3 to full commerciality..
SNG Management have not shown any desire to signficantly dilute the number of shares in issue... The recent fundraise was for £2.9 m and diluted the current shares in issue aby approx 20%...Management have a signifcant stake in SNG, as do its major shareholders.. many of whom increased their stakes during the last fund raise.
.
There is no long wait...if you call 6 months a long wait.. results or / and outcomes even interim reports on both LOXL2 and Interferon B should be visible to shareholders to assess.. and if positive a very signifcant rise in SNG share price.. Currently and without any further updates to LOXL2 and Interferon B they have a target price of 54p.