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That is the point I was making,there has been no evidence that this drug causes liver problems,it seems more a problem of submitting the correct required parametres and data.It is a shame that Motif did inform exactly what the issue with the paperwork was as I think you would not have seen this lose all this value!
More clarity from the company would have been useful IMO
The way I see it,the former company that submitted this drug had it refused for potential liver issues,so I cannot believe that Motif did not make it very clear that this is now not an issue.It could be the case that maybe they did not submit the correct paperwork for this issue,and even the FDA themselves yesterday did not say this drug causes liver issues just that enough evidence was not submitted that proves it does not.I can see nowhere in previous RNS that liver issues have been a problem,so it seems a sloppy oversight by MTFB that has caused this.If they have proof that this does not cause liver damage,they should act fast to make this clear
"The CRL states that the FDA cannot approve the NDA in its present form and indicates that additional data are needed to further evaluate the risk for liver toxicity before the NDA may be approved. Motif Bio plans to request a meeting with the FDA as soon as possible to discuss potential options to address the deficiencies."
I think more like 15p if they do one,lets see!
I agree its a load of bull !
Someone on twitty reckons they have a placing at 5p coming and it was forward sold yesterday,sounds like a load of bull to me.CEO would lose all credibility if true IMO
Well as I have been saying this has been held for a buyer for quite a few days now,if you add in last weeks buys too (if the same buyer) they could be close to declaring a position.There is a well known offshore fund that likes to invest in exactly this type of situation so I will be keeping a keen eye too on that.
There have been reports back from last nights presentation that 1500 - 1800 BOPD are being targeted by the company for or before April.If that is true we will get one heck of a re-rate coming IMVHO
Surprise surprise a real whacker pops up after close,someone has bagged a shed load of these since Monday and there seemed to be more urgency in the buying today.We will certainly have an interesting open tomorrow and hopefully with news :-)
Highest buy of day at 10.49p just before close,i wonder how many others they not published yet.Something is certainly stirring on level 2 today and signs that it is being prepped for a move IMO
I estimate someone has loaded around 3.5m shares here today at mates rates.
Now you see the 250k buys pop up again,this is being played big style to aid a large buyer IMVHO
Many of those supposed sells are actually buys from earlier IMO a clue lays on level 2 with Cantors and Sing !
You are a VERY brave lad to be short on this one,they can flip the book in a heartbeat if they want once mates rates have been concluded.
The term coiled spring comes to mind? it is clear the mm,s have been caught out here on that recent move to 16p and this time they are going to make a mint off it.In my experience the mm,s will only hold a price for corporates for so long because the temptation to participate in such an obvious forward market is just to great.
When this opens up proper it will move very fast IMO
Check the RNS releases,for example start with this from last week :
David Sefton, Executive Chairman of AAOG, said, "To have encountered hydrocarbons in the Djeno at the first attempt is an excellent outcome and is testament to the quality of the geological model we put in place for Tilapia ahead of commencing drilling operations. While this Well will produce from the Mengo and R2 rather than the Djeno, we have now encountered oil in all the targeted horizons, with a total combined oil of at least 56 metres, including a combined 44 metres of oil in both the Mengo and R2 and across discovered additional reservoirs. We now plan to bring TLP-103C into production, and thereby increase production and cashflow at Tilapia such that this asset will become cash generative in the very near future.
Andy the key thing to remember now though is after the news last week this is now DE-RISKED and that is the all important factor going forward.A huge uplift in Bopd and Licence extended to 2042 when announced will put a rocket thruster under this SP.
I have never seen a new oil company have success after success with the drillbit at this level before,it is game on and eyes down for a full house now IMVHO
Andy its based on what I have seen on the book,there have been a number of mm,s sitting firmly on that ask since the news release and as I said earlier it has obviously been held for a buyer.However we all know a very juicy RNS could land at any moment and I am suggesting the mm,s are aware of it.
I say this is now nicely positioned and will gain traction shortly :-) this should be 15p at least now IMO
Once that 10.5p ask goes watch this open up ! this has obviously been held for a buyer and once they have their boots filled this will be up and off IMVHO
I can see this having a very lively close today and open tomorrow,there is some big money moving in !
A massive uplift in Bopd alongside the licence extension will put rocket thrusters under this,and it could land literally any moment.The CEO is quite savvy and knows there are a lot of eyes on this :-)
Another chunky buy !