Member Info for SGD27

"...and whilst it's a phenomenal outcome, we expect plenty more of these kind of results within our portfolio,
both our current portfolio and the companies that we will invest in in the future..."

Hope he's right :-)

https://www.vo%78markets.co.uk/articles/arix-bioscience-amryt-pharma-and-paul-hill-on-5-stocks-to-follow-d88a310

I think we can all agree that there's a disconnect with the SP right now. I'm racking my brains to try to come up with theories:

1. PI Psychology: reluctance to buy _after_ seeing an increase of ~50%.
2. II's now in lockdown and haven't got their act together yet.
3. Link fund deciding now is a good time to do a fire sale of the ex-Woodford shares.
4. Fears that listed portfolio shares (AUTL, LOGC, etc.) may drop in value following US election.

Any additions to this list welcome!

Just added more @162p (showing as a sell, as Bid/Ask=160/170)

I emailed Arix investor relations this morning and had a remarkably rapid reply, which essentially confirms what JohnLaw just posted. Here's the relevant bit :

"
Thank you for your email and for your support as a shareholder. We are delighted with such a strong multiple just two years after we invested in Velos.

In terms of tax, our capital gains typically attract corporation tax at the current rate of 19%. Where possible, we look to take advantage of available exemptions, notably Substantial Shareholding Exemption (SSE). Where eligible, SSE reduces tax on gains to nil. As this is a fairly nuanced exemption and relies upon individual investment fact patterns, we are not yet in a position to confirm whether a portion of our gain on VelosBio will be eligible for SSE. The detailed tax impact of this transaction, and all other financial events occurring during 2020, will be included within our Annual Report and Accounts.
"

So are we saying that the SP today should (theoretically) have risen 72p rather than 89p? And the "cash position of around £179m" quoted earlier has also not taken this into account?

https://www.proactiveinvestors.co.uk/companies/news/219791/arix-bioscience-strategy-pays-off-big-time-as-merck-snaps-up-velosbio-219791.html

"
What the broker says

Jefferies added that the VelosBio sale is the first strategic acquisition from Arix's portfolio, in addition to NAV gains and the removal of all funding concerns.

The US broker added the deal highlights and validates the value of Arix's assets, particularly the less visible private ones, as well as the management’s capability to execute and therefore should boost investors' confidence and narrow the discount.

“The substantially strengthened expected cash position of around £179m also provides the group with extra flexibilities for new and existing investments; or potentially some distributions to shareholders."
"

Not only NAV, the Arix team's credibility must surely be boosted today.

Now if they can just pull off a couple more of these... :-)

Will Arix have to pay tax on this gain, and is this why we haven't (yet?) seen the full 89p uplift?

irishdave's numbers might make sense if we could dig up the entire CS resource, process it, and sell it all today. Otherwise, there's this thing called Discounted Cash Flow...

Anyway, I see we have a proactive "Deep Dive" :

https://www.proactiveinvestors.co.uk/companies/news/903156/sunrise-resources-makes-good-progress-towards-production-at-cs-903156.html

Looks OK to me : 12,740,135 / 199,914,402 = 6.37%

Yes, from the 27 Oct RNS :

" I am also pleased to announce the scheduled start of drilling on our Clayton Silver-Gold Project in Nevada this week and the preparations for drilling at our Newark Gold Project in Nevada and at our Baker's Gold Project in Western Australia. This is an exciting time for Sunrise with regular news updates expected over the coming months from both our CS Project and our gold and silver assets. We are fully funded for the planned work programmes and for the foreseeable future and I look forward to updating shareholders in due course.".

Just noting a side-result of the US election: the legalisation of cannabis in Arizona. More perlite required :-)

https://www.newsweek.com/marijuana-had-big-night-ballot-measures-push-america-towards-legal-weed-1543348

Just a quick bump, for those following what's happening (or not) with LOXL2.

Pharmaxis are doing well with one of their other treatments (Bronchitol), which may be why they seem in no great rush to conclude the LOXL2 partnering deal.

https://www.proactiveinvestors.com.au/companies/news/932880/pharmaxis-ceo-says-us-fda-approval-for-bronchitol-is--big-day-in-company-s-history--932880.html

Probably stating the obvious, but IMO what matters today is to what extent the applications for excess entitlement are filled.

All/most = people selling for quick profit
None/little = people buying to reach their target holding.

@FekirTrader : See ALWHIZZ's post at 10:15.

A new presentation from Pharmaxis today :

http://www.pharmaxis.com.au/assets/Documents/pdf/02020/ASX/2020-11-04-PXS-AGM-CEO-Presentation.pdf

Slide 11: LOXL2 partnering is now anticipated in H1 2021.

There was also a new quarterly update a few days ago :

http://www.pharmaxis.com.au/assets/Documents/pdf/02020/ASX/2020-10-30-Quarterly-Shareholder-Update-Sept-2020.pdf

"
LOXL2 inhibitor program
...
Pharmaxis is currently pursuing a number of different partnering options to enable the drug to enter the clinic in phase 2 trials. While the process has taken longer than originally expected, and much of the industry focus has been on the Covid-19 pandemic, the Company continues to have discussions with a number of potential partners. Pharmaxis will provide more information when the process concludes.
"

Re 12:02 post: let's just be clear, those numbers are just showing how the randomisation happened to pan out at the start point ("baseline") of treatment.

Just one more post on this, as it's on in half an hour. There are some good (though possibly partisan) reviews here:
https://www.rottentomatoes.com/m/totally_under_control/reviews

"A vital, powerful examination of how one political administration could get something so wrong by ignoring the experts."

"Masterfully lays out how the Trump administration completely screwed up their pandemic."

"The result is a stunning, breathtaking tale of how politics got in the way of science and personality Trumped public health."

9pm BBC2

Marginally off topic perhaps, but this film on BBC2 tonight at 9pm looks interesting:
https://www.bbc.co.uk/programmes/m000p36r

https://www.theguardian.com/science/2020/nov/01/covids-effect-on-health-blamed-on-tiny-genetic-variations

No specific mention of Synairgen, but there's this :

"
Key developments include research which indicates that interferon – a molecular messenger that stimulates immune defences against invading viruses – may play a vital role in defending the body. Scientists have found that rare mutations in some people may leave them unable to make adequate supplies of the interferon they need to trigger effective immune responses to Covid. Trials using interferon as Covid treatments are now under way at several centres.

“These genetic findings give us very clear insights,” said Martin Hibberd, professor of emerging infectious diseases at the London School of Hygiene and Tropical Medicine. “They are natural biological experiments which suggest that people who make more interferon when infected have a better response to the disease. And that in turn tells us that patients could well benefit from treatment with interferon.”
"