Famously Said9 May 2026 07:51
Rusty et al,
Blocking is not a function for discussion which is what the message boards are designed for. I will present my findings given I have followed silently for a long time on this subject:
My understanding of the continued selling pressure — and the reason the share price has failed to rise and continues to decline — is that there may be growing concerns that Mo has not been fully frank and transparent with retail investors.
Mo has presented this as the largest human challenge trial contract ever signed by hVIVO. However, a key detail that has not been clearly communicated is that the Iliad study appears to be primarily a day-patient trial. Volunteers are inoculated for whooping cough, spend only two to three hours within the hVIVO quarantine unit, and then return home.
This is very different from a traditional human challenge trial, where participants would typically remain quarantined for around two weeks in the specialist 50-bed Canary Wharf facility. Therefore, although the study may be one of the largest in terms of volunteer numbers, it is likely to be a significantly lower-margin contract.
Furthermore, several European competitors — including SGS, Vaccinopolis in Antwerp, and CHDR in Leiden, Netherlands — are also capable of conducting this type of study and have reportedly expanded their own challenge trial facilities in recent years. These companies are now competing with hVIVO for contracts, yet this increasing competitive pressure has not been meaningfully highlighted to the market.
As a result, the large Canary Wharf quarantine facility is likely to remain largely unused during this study and may continue to be materially underutilised going forward.
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