Maija is in Banff with Bexmarilimab poster at a key conference this week . Sponsored by some Big Pharma companies.
https://www.keystonesymposia.org/conferences/conference-listing/meeting?eventid=6906
She will be presenting new data on the molecular characteristics defining bexmarilimab response.
Video up on Faron website also
https://faron.videosync.fi/2022-financial-statement
One of the best so far - confident - excited and I got the feeling that they know its happening for sure now .
Toni - very relaxed regarding future funding - their excellent track record of raising money in EU . Nasdaq there if needed .
They answered 2 of my questions. Although the Bexmab one , I asked about possibility of an EUA . They took that as meaning a European Application ( whatever that is ) . Either way the answer was that US was the bigger fish and that was what they seem to have as the ultimate goal .
The other was about Tuomo - and was the most interesting answer of the Q&A
Tuomo brought in for the commercial experience to assist negotiating licensing deals . He's done multiple deals over his career in similar situations with small and big pharma . And now moving into negotiations of licensing and also plans for commercialisation of ( and here he says 'Bexmab opportunity , but corrects it to Bexmarilimab ) .
In his words , they have to be very careful at this point - to make the right decisions .
Do you sell the Golden Goose , or be smart and sell the first golden egg , that will keep the eggs coming .
Looking at the team they have amassed , they are all still relatively young . Even Markku and Toni look as fresh as I've ever seen them .
Maybe there will be a takeover at some point - but I'm leaning towards an empire building plan being worked out . Bexmab could be the front runner for licensing , and the imminent FDA meeting giving green light for further collaborations .
The addition of Tuomo is key now to the next move .
I wish them all the best luck - and have upgraded my outlook from SSV to HSV .
IFN gamma levels key to anti PD1 success - so again Bex key in this regard .
Biomarkers and staining are showing robust signals .
Bexmab - very interesting situation for Faron - 4 well known sites in US being set up . Quickest way to market .
Markku saying he has even more 'fresh' data that proves Bex efficacy .
Well that's nice . I wonder if we have seen that yet ?
Regarding the data they have sent to FDA
He is very excited about what they will come back with for them .
Well , all looking positive . Redeye have to be realistic , but they do note that once Clever -1 is fully accepted as a valid CPI target ( which Bexmab is helping to nail down superbly) - then we are talking valuations of billions , not millions .
Matins Q1 meeting - which although based on solid tumour data , should really reflect on the future of Bex in the combi trials too , as they are the most promising , and the ones that Bex really seems to be best suited for if you want to help patients live longer and recover even .
Looking ahead - the huge costs of developing a drug , can give the company some huge tax savings once the drug hits the market - see below details . Puts into perspective the amount that has been spent so far getting Bex to where it is .
Not only still 100% wholly owned , but can offset the losses against tax for the next 10 years of profits .
47 million euros of cumulative tax losses so far
91.8 million euros of R&D expenditure in the last 10 years .
The costs really are staggering when you add them up - but hence these massive price tags when companies or therapies are sold .
The Company’s tax credit for the fiscal year 2022 can
be recorded only after the Finnish tax authorities have
approved the tax report and confirmed the amount of
tax-deductible expenses. The total amount of cumulative
tax losses carried forward approved by tax authorities on
December 31, 2022 was EUR 47.1 million (2021: EUR 41.0
million). The Company estimates that it can utilize most
of these during the years 2023 to 2033 by offsetting them
against future profits.
In addition, the Company has EUR 91.8 million of R&D
costs incurred in the financial years 2010 - 2022 that have
not yet been deducted from taxation. This amount can
be deducted over an indefinite period at the Company’s
discretion
The request to have that amount of shares available to deploy( 20%) is pretty standard these days . It means they have permission , should the need arise , or suit their plan . It doesn't mean that they will , it just saves an EGM should they need to .
I think 2023 is going to be THE year for Faron .
Why ?
I notice they have requested to add a new board member - Tuomo Patsi .
Not sure what he is doing exactly now , but I can see he was appointed president of Celgene ( for Europe etc) in 2014 . Celgene got bought out by Bristol Myers Squibb in 2019 for $74 billion .
So they have recruited a top bod in the cancer pharma world , just for a year ( until next AGM) . I wonder why ?
The Board proposes, on the basis of the proposal of the nomination committee, that Tuomo Pätsi be elected as a new member to the Board for a term that ends at the end of the next AGM.
Tuomo Pätsi, citizen of Finland and Switzerland, holds no other board memberships at the moment. He is
independent of the Company and its significant shareholders.
https://bloodcancerstoday.com/post/bexmarilimab-has-therapeutic-potential-for-myeloid-malignancies
Not too sure . I know other companies I have followed have had dates there ( a decision date for approval/non approval ).
I'd say that Faron would inform us if a such a decision meeting date had been assigned .
Not much else to go on at the moment . The Clinical.gov site listings have hardly changed for a while now . Bexmab last update was July 2022 , although we know they have new study sites in US .
Hopefully an update soon .
Many thanks Sophie .
Yes , I think everyone now expects some kind of partnership deal to fund the future of Bex .
Markku and family , being large shareholders , also would not wish to continually dilute the share holding just to creep forward a few months at a time .
The Matins package , along with Bexmab P1 data , should now be enough to satisfy any interested party .
Now is the right time .
Just translating the headlines -
Faron is a risk tag for investors, whose price is based on the potential of one drug prototype in particular - "If the initial flow of good information continues, it could be a value driver for the share this year"
There is a market and demand for the medicine developed by Faron, if it proves to be effective and safe in studies. A lot of money will come back along the way
The share price of drug developer Faron Pharmaceuticals has seen plenty of strong movements since the company, already listed in London, also entered the First North list of the Helsinki Stock Exchange in 2019.
Drug development consumes a lot of money and Faron's cash is enough for May - "Sooner or later the company needs a partnership deal"
Drug research consumes a lot of capital. For companies that are still in the early stages of commercialization, it probably also means hitting the owners' pockets.
For example, Faron Pharmaceuticals, which is listed on the First Nort of the Helsinki Stock Exchange, raised 12 million euros with its share issue in January. The amount was bigger than, for example, in a few IPOs seen last year.
And not forgetting they are always ahead of what we know .
They filed for the 'Haematokine' trademark in 2021 too in the US , and it was registred in Aug 2022 .
https://tmsearch.uspto.gov/bin/showfield?f=doc&state=4804:ipgq39.2.1
Haven't read it in detail , but I'm assuming this is Heamatokine related - so expanding H's potential .
Haematokine is Faron’s investigational A0C3 inhibitor targeting VAP-1, a target discovered by Faron’s scientific founders. Hematopoietic Stem Cell Transplantation (HSCT) is standard of care in many hematological malignancies. Transplant failure is a lethal complication and is a result of poor expansion of transplanted cells, which can occur in over 25% of patients. Haematokine is the expansion of hematopoietic stem cells by regulating AOC3 activity for the use in regenerative medicine and hematological malignancies. This program, currently in pre-clinical development, has the potential to benefit all indications where an expansion of haemopoietic stem cells is needed. Haematokine is undergoing IND-enabling studies.
This just landed -
https://patents.justia.com/patent/20230046617
The findings of the present invention provide a method for expanding HSCs in clinical applications using VAP-1 inhibitors. The findings of the present invention may help to improve bone marrow recovery after injury, enhance the effects of bone marrow transplantation and ameliorate the mobilization, harvesting and expansion of HSCs. Further, the findings of the present invention provide a novel method for treating several hematological diseases or conditions, which benefit from expanded population of hematopoietic stem cells. The present invention provides a method for treating a condition in which bone marrow does not function normally and the patient is in need of boosting his/her hematopoiesis. In one aspect, the findings of the present invention provide a novel efficient method for increasing ex vivo the number of umbilical cord blood HSCs, since umbilical cord blood transplantation (UCBT) has become an established therapy for patients without matched donors, leading to cures of previously incurable disease.
Yep , somebody was eager to add a bit today , and it doesn't take much of that kind of activity to move the needle on this share .
MLF said that they are looking forward to providing more positive patient data . With Bexmab , its a 28 day cycle , so every month they get a new batch of data for each patient , and the whole cohort timescale is about 4 months .
They obviously have recent data that we don't know about yet , and she is very positive .
A good sign .
Yep , very positive .
She said 2 of the 3 responders had been on the drug before , so the response with Bex was almost clinical proof .
I remember hearing 1 had been , but not 2 .
That makes these results even more outstanding .
Bristol Myers Squibb will be watching this closely , and no doubt have Farons number on speed dial ( if that's even a thing anymore lol )
Good to see them planning to be at so many events , they obviously expect to busy spreading their good data .
Lots of activity just been posted up on the Faron website - 6 events/meetings/conferences in the next 4 months .
https://www.faron.com/investors/calendar
Oncology / Hematology meetings , plus firstly an Investor event in mid March .