Member Info for Saxondale

So they could have raised 18 million overnight . Decided to go for 12 instead of 10 . I wonder if that other 6 will be looking to buy on the market ?

8 months breathing space now to work out a partnering deal - whilst all the time the Bexmab data gets stronger and stronger .

Great to see Timo taking more also .

2025 will be absolute re-rate here for sure with this financing done in my opinion .

Happy enough with that .

This will see them through to Dec 2025 - says CFO

1.72 euro - about £1.44 in our SP given the 1.18% difference that seems to exist .

Nearly doubly oversubscribed .

6.6% dilution

12 million euros raised .

Timo added about a million shares !

"This fundraising is pivotal and comes at an exciting time for Faron. As we will soon see topline data from the Phase II of the BEXMAB clinical trial, it was important to raise funds to provide a cash runway into December 2025." said Yrjö Wichmann, Chief Financial Officer of Faron. "The investor interest has been stronger than anticipated which demonstrates that the market shares our strong belief in the Company and bexmarilimab. We would like to thank all our investors for their continued support in developing this novel immunotherapy!".

Market wanted these shares - lets see if we can get any sub £1.50 this morning .

If we get a placing price of 20% discount from today - say £1.20 - how long do you think it will stay there - considering we are now fully funded through to Q4 . Not many will have had the chance to take part - and we are now in the juicy deal making zone - with funds . Room for that FDA meeting also while still holding all the cards .I reckon there could be a 50/50 chance we'll actually end up blue tomorrow . Ever the optimist lol

20 m shares is the total amount that they have permission to place , not what they say they will place . Don't expect them to use all of them here .

10 mill should be a bout a 5% dilution I think ( depending on price)

Small price to pay for to get that full P2 package - and breathing space to partner up

And.... there we go

10 million placing - thank goodness .

gets it out of the way - hopefully even if at slight discount - we'll bounce back quick now we have financial security .

I had a couple of thousand yesterday at £1.60 . Lets see if I can buy cheaper tomorrow ?

Subject to the Company raising approximately EUR 10 million, the Company will have sufficient funding for its working capital needs into Q4 2025 and be able to meet its financial covenants into August 2025. The total cash and cash equivalents held by the Company as of 31 December 2024 was ca. EUR 9.5 million.

· The net proceeds will strengthen the Company's financial position ahead of its upcoming BEXMAB Phase II trial topline readout, which is expected in April 2025. The proceeds will be used for the continuation of the BEXMAB Phase II trial, mainly to produce follow-up data (duration of response and survival) and to prepare the package for end of Phase II FDA meeting and to enhance the Company's balance sheet.

Yes I'm in that frame of mind too Q . We've come this far - weeks away from the full data . If there's a huge price difference for that box to be ticked , you'd be a fool to take an early offer when a few mnore million raise would get you a far bigger return .

Yes it does look better than just standard enrollment .

Covers both target populations - and now we also have those two extra sites in UK for expansion .

For any partner - they know the data will be good enough already - but without the patients - the P2 cannot complete .

Now it can .

Major box tick for a deal that could be signed at any time now .

The final patient has been identified for the BEXMAB Phase II dose optimization study in refractory or relapsed myelodysplastic syndrome (r/r MDS), as well as the BEXMAB Phase I/II study in frontline high risk (HR) MDS.

Targeted to be achieved in January - and they've done it . well done .

You forget sometimes that these things are crucial to allow the results to be kept on track .

Great Stuff !

First point on the Strategy page -

Become revenue generating with data from MDS

Partnership(s) and first approvals

New Phase II studies will be primarily ran using funds obtained through deals and partnerships

Thankfully our share is now traded very heavily over on the Nas North . I don't think Faron are quite an manipulable as many others . Any big entity can swing prices if they play dirty enough , but we have a massive percentage of our shares own by big sticky hand investors , plus BOD have large amount of skin in the game .

The IPF debacle did show how curve balls can totally blindside however .

A small company with no current form of income - and in debt is a risky investment full stop .

De risking should help the SP along the way , but until Faron show us a deal - we are still at risk .

Once the risk is OFF - and a rerate occurs - plenty of PI's etc will take profits - but thats when the BIG FISH will actually START investing because the risk will have been totally removed .

Its down to each investor to do their due diligence and judge how big that risk is . If the risk is minimal , and the upside almost certain - then like Luch says - its just a matter of time now .

I know these talks seem to have been going on for ever , but this deal is looking so big that nobody is going to be rushing .

Faron need to select a partner that will suit them going forwards . Juho knows what they have . In his previous interview he talked of the valuations rising as the data strengthens . We are now potentially one FDA meeting away from some kind of rolling approval . The price tag with that kind of green light will be way higher than where we are today because it will be literally a license to print money .

I had assumed Faron had enough cash to see them to the P2 full readout and subsequent FDA meeting . That was the point of the 30 mil raise ? Obviously nothing further , but maybe I'm wrong and they may need a bit more to extend the runway a bit .

With a FDA agreed protocol for P3 , and perhaps even cheeky approval - there is nothing major for Faron to spend on apart from personnel / overheads etc and keeping IPF happy , until the trials get launched .

But the feeling is that they want to keep this rolling as fast as it can go - so something could land any day .

The P2 data so far is good enough , but maybe partner/s want it officially packaged before signing .

On a different note - despite the US being the target - what about China ? do companies over there not swoop in buy up stuff like this ? Something so big surely would be attractive . I never hear much about that - maybe they are so dialed into the FDA route that it's not viable , and would sour any goodwill they have been building up ?

What an achievement . Still mind boggling how little old GGP has transformed into what it is today . This kind of RNS makes you very proud as a LTH .

6p ????

Faron were in a squeeze back then . The IPF fiasco forced them into a fundraise . As soon as that was evident , the SP tanked , and they got their shares at a bargain . I'd have done the same if I had millions to invest . Why volunteer to help out at £2 if you know you'll get them at half that . As a small PI long term holder I took advantage anyway and have since tripled my holding here since that low . That' hiccup ' gave us a gift of an entry point/ averaging down opportunity - despite major dilution .

Ive got a bit on the side should we get another raise - the interest In Finland is huge compared to the UK , and there is widespread confidence that this company will suceed - so I'm not expecting some kind of panic price this time .

Faron now a lean and cost efficient set up - company is extremely well off at the moment .

( By that I guess he means that in the sense of running costs rather than bank balance )

Amazing time coming up .

P2 coming to the end . Possibilities for accelerated rolling approval .

FDA talks - Then front line MDS.

Doesn't seem too concerned about any hurdles or delays - no problem with recruitment - all very positive . The safety and tolerance and lack of any side effects is such a bonus , plus the unmet urgent medical need means doctors and patients are very receptive .

Obviously we all know this - but good to see he is out and about spreading the word .

Thanks for that link - yes subtitles in English help a lot lol .

Lots to digest there . He is obviously talking in general but much would apply specifically to Faron , and exactly where they are now .

All those hurdles to get to the point where you can even talk about making a deal have been overcome by Faron a long old road - and not easy . - He is now talking from a standpoint of someone who is now finally in the envious position of ticking all the right boxes , and being right there at the sharp end , with a molecule , highly sought after , derisked clinical data , etc etc .

Sounds super confident , and fully aware of all the complex workings behind these operations .

News forthcoming soon lets hope

I can understand raises and placings during P1/P2 periods for companies , as at that stage they really do need that extra data to justify valuations . I've lost count how many times we have now done that .

Multiple tens of millions on multiple occasions .

And we are now looking at a relatively small P3 population trial to hit the market .

So If any offer on the table isn't good enough - are we in a position to actually go it alone ?

It would need to be a major raise again - possibly more than the £30m last time , and that was a whopper .

It's possible I guess - there would be interest I'm sure - but would BP like that because it would let Faron then keep the golden goose .

Now is the last chance for someone to swoop in and buy the farm before the farmer starts becoming self sufficient .

The whole Faron set up is perfectly placed for a merger/takeover - they have all the experts in house , the sites set up , top drawer SAB , and support from all the major Hematological bodies . Orphan Drug Status / Fast Track Designation . Patents in place . Commercial production ready . 100% wholly owned .

Young management team - with some ambitious plans .

Dozens of meetings at JPM event .

Whatever comes next , Bex will 100% be on the market . And because of that , we should do very well .

So that makes 10 sites now recruiting , across the US , UK and Finland .

Two new sites in the UK - Manchester Christie NHS and Truro Royal Cornwall NHS .

Both recruiting.