Looking back12 Aug 2021 22:24
Interesting when you look back at the highest share price Faron has ever been .
£8.80 odd in late Feb 2018 , and that was after a placing the week before at £8.05 to raise £15 million.
A week before the placing the SP was £8.40 , and at that time there were approx 30 million shares in issue.
So £8.40 with 30 million shares - Mcap £252million
We now have 70% more shares in issue than back then . 50 million . And our Mcap is £225 million .
So only 10% off our peak Mcap - when our SP was £8.40 .
Back then , confidence was sky high . Traumakine seemed nailed on . Manufacturing was gearing up .
Faron hired an ex Astra Zeneca Global Marketing Director , Dr Juhana Heinonen , to be Chief Commercial Officer .
Unfortunately that position only lasted 11 months as he left in Nov 18 after the Interest steroid debacle .
Roll on 3 years - and here we are again on the cusp of another breakthrough , this time with Bexmarilimab .
The market seem to be very confident again , as we edge towards new all time high Mcap again .
Its a shame we've had all those extra shares issued , otherwise we'd be looking at £7.50 instead of £4.40 today , but there again we'd never have got to this point without that dilution .
In fairness , Faron have done a pretty good job at keeping it to 50 million , given the money its taken to get us here .
And this near all time high Mcap is at a point when we still don't have a partner announced , and still waiting on a Matins update .
Back in 2018 , Clevegen was still in its infancy , all the Mcap was riding on Traumakine ( hence the drop to £1 overnight , and even then the painful roll down to a full on hat and chips eye watering 53p )
Looking back , its been a hard old road for Faron , and the LTH to get to where we are again today . We've had some good old rogerings from the market over these 3 years . Highs , and lows . The covid roller coaster . The frustrations . We've had it all .
Anyway , I hope we can all enjoy this next period without any disasters. I'm sure there will be some surprises . And if and when we do hit the jackpot , we can all say that we certainly didn't do it the easy way !