Exclusive: Life Sciences Investor Briefing - Destiny Pharma #DEST, Shield #STX & Open Orphan #ORPH Watch Now
Pausing for breath and maybe a few taking profit from all the buying opportunities as the SP fell! ... The company is now in the best "place" it has been for years - it's good to be able to wait without the worry!
C7, it may just be that money has moved out of smaller companies funds into safer funds/stocks/cash/gold and the fund managers have to follow suit with their underlying holdings.
I saw some pretty dramatic drops in the smaller companies funds in my SIPP (20-30%) a couple of months ago that far outweighed any drop in FTSE / trackers.
It would be interesting to know if any of L&G reduced any other smaller company holdings over the same period to maintain the correct underlying holdings.
Immune Design get a mention here ...
"Competitors have struggled to show efficacy "
Until recently, Immune Design was developing the therapeutic vaccine CMB305
to treat patients with NY-ESO-1 expressing tumours, but that programme has
been deprioritised following analysis of Phase II data. The vaccine, which uses the
company’s Zvex lentivirus-based delivery system, was in a Phase III trial as
monotherapy in synovial sarcoma. However, early analysis of data from a Phase II
study in various sarcomas with CMB305, in combination with atezolizumab
(Roche’s anti PD-L1, Tecentriq), indicated that there was unlikely to be a survival
benefit associated with treatment.
Indeed .... and once the conversion criteria is met, we can force TF to convert the warrants to release the cash (although TF could choose to let us cancel the warrants and lose they'd lose the 50%+ instant profit on them).
"Yourgene has the ability to force conversion or cancellation of these warrants, at Life Technologies' preference, in the event that the share price sustains a level of more than 50 per cent above the exercise price for each respective tranche after an initial period for each respective tranche"
I am very impressed with the deal the BOD struck, all the royalties are capped and reduced by any capital gains ... well worth waiting for ...
Onwards and upwards :)
I'm not sure I understand your point - the warrants had already been issued, they are not new so there is no additional dilution.
They have exercised the warrants and agreed to hold the resulting shares for 3 years, which seems pretty good IMO!
And with the link ...
Thanks, I scan the BB most days but it's pretty much a waiting game now!
I picked up the 26.5k at 6.63 .. At that time, I was offered 6.596 to sell which I assume is rounded to 6.60 which is why I expect the others at that price may be sells, but it's possible that they were buys and the bid and ask were both rising at the time!
... we must be due some good news soon ...
I believe Trigrid 1 was only ever used for trials, not commercially. This is why it has taken longer than expected - Lindy mentioned Ichor had to drop test it, make sure no needles exposed etc in addition to making it idiot proof - almost to CE level!
In their defence, although the open QA was limited, it did seem longer than previous years. The BOD also stayed around until pretty much everybody had left at about 4pm. They were quite willing to chat to anyone and answer any outstanding questions.
I had quite a chat with Lindy towards the end - she is as frustrated as us at the time it takes to get into the clinic but obviously needs to get it right. It sounds like she and Sally have really been working very hard! LIndy reiterated, only one of their increasing number of vaccines has to work for it to be transformational for Scancell ....
After a bit of work, I think this has come out pretty well ... enjoy!
DA, this was in the after meeting chat so not recorded, but Lindy said she is in regular contact with Ugur (CEO) .. She also said words to the effect that they know they don’t have as much money as the bigger pharma so are more likely to make deals at earlier stages, whereas a bigger pharma will happily pay 100m for something proven than pay less at an earlier stage and risk failure... presumably this would only be for TCR use of Moditope.
WRT to Modi-1 manufacture is underway for the toxicity test batch ...
SCIB1 - our outstanding question needed some lab work but should be done at start of December. It sounded like more work to do on Ichor’s side but they didn’t say what, only that Scancell were supporting that to get it sorted - implication was it will be early next year. All other prep work for trial is still taking place and aim to start H1 2019.
SCIB1 - one query with Scancell, info will be ready by start Dec - other queries are with Ichor but they are working together to get it sorted. Considered going for UK trial only but would mean a whole new application, as it stands, the UK arm will piggy back on US. There were also cost implications of UK only - 10k per patient!
Scib2 will be using nanovesicle, Lindy has tried this in the lab .. it sounds like the first we’ll hear from CRUK is the start of trial - could it beat SCIB1?!
Modi1 - as mentioned, manufacturing didn’t scale as easily as expected. New technique developed which ISA are very happy with - sounds like Lindy helped a lot there!
Lindy is working closely with BioNTech .. they want to see Moditope work but also want to beat big(ger) pharma to a deal when it does ... first deal here IMO!
Chippers didn’t seem to enjoy the Q&A ..
Cliff gave a longer definition of near to short ...
Lindy said, this time next year we’ll be millionaires ... or maybe the year after .. ok, well it was more like, only one of these has to work in humans for 100x ...
I’ve eaten too many biscuits ... and probably picked up a speeding ticket on the M40 ...
I’ll try to get the recording cleaned up this evening ...