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I wouldn't worry about going private. Most of the biotech type companies that had plans to delist were well funded for next year but we're looking to use delisting as a stepping stone to a Nasdaq listing at a higher valuation IMO. GDR has very short term funding issues (and long term ones). Also doubt GDR will meet the requirements to list on Nasdaq for a while yet (if it ever does)
If there is still some kind of fund raise coming can only think it's been held up by them waiting for RF to sell their shares. But surely RF have by now managed to sell all of that last £600k from the drawdown on 2nd January.
This probably the lowest their cash has ever been - currently only about £500-600k....
There is a possibility that there will be no drawdown now and no fundraise and with only just over a month of funding left........
It pretty obvious that no genuine II wants to buy into this for real at the moment to me. Otherwise they would have already. It will surely be at risk of going down completely if no RF drawdown announced this week as well. (No one here knows what actually will happen, me included, but you can't assume this is golden silence, and there's not much money (time) left.
Should be possible if your broker is linked up to the JP Jenkins facility - I expect the first private auction will be in June
BTW....C4 chat page on here has already been deleted by the looks of it. Where will chat on REDX migrate to?
Yep, I'm convinced strategy is to go for IPO in US. Plenty of news flow due over the next couple of months as well. Would think there'll try to use further positive news to make IPO a success.
Looks like £20k buy just went through at 11.75p...
Will be interesting to see what bid price is in first auction. C4s first auction appears to be in late June. If it follows that sort of pattern, there might even be some news on one of the current clinical trials by then...
About £700k left in the bank, so yes, it can't be too long before something is known on that front...
Good points Moniman. And actually quite an important next couple of months for Redx in terms of news flow on two separate clinical trials they have going at the moment.
It's possible they were trying to get SP much higher than now before doing a placing. who knows.
Could be. Will be interesting to see if more big buys are printed this afternoon. (I think action recently has been in late afternoon as Tang are based in California!)
Decent points Franky. But why do they keep talking about a raise in RNSs etc, but not actually announcing it???
One big reason they won't go private any time soon is because there's virtually no II shareholders in this of any significance. It's all about PIs, and GDR know there's no chance you lot would vote through delisting!
I think the word "partners" was used before. I took this to mean the firms that will actually sell AIHL across the US. Likely to be different firms involved in different regions. But no hurry to name names as they don't even have the data yet to make the actual FDA application. And to get the data they need funding to pay for the trials. Presumably they will now announce a proper fundraising. It would be very odd if they just went for another RF drawdown instead after just releasing this RNS. They'll need at least a couple of million just to get the trials done.
Might get interesting yet again though Moniman. If you look at trades just printed on here, some large ones just appeared again. So looks to me like Tang or another II is loading up again.
AJ Bell.
However, looking at JK Jenkins info. again appears my current broker (Bestinvest) actually are linked up to JK Jenkins. It was just when I rang them they didn't seem to know about it. Plus, they're listed on JK Jenkins under old brand name. lol.
Just been told I won't be able to use JP Jenkins facility if stock is transferred (in SIPP) after actual deilsting takes place (or they may mean they won't be able to accept the transfer). This is despite them having relationship with JP Jenkins.
Has anyone else been told something like this?
If big buying restarts then 20p certainly possible in short order. Otherwise would guess it's more likely going to be max 15-16p before deilsting. I think commission lower on AIM than if buying through the private auction facility so makes sense for anyone to load up now if looking to invest more in this.