Member Info for stocksaint

The stroke marker test is on a standard NICE review and it's already been recommended in draft guidance, so yes, it will get "full" approval. However, you need to look at the final wording of what they say. It's not so clear cut what it means commercially if they're still saying lab testing is the most preferred option for this, and GDR's test is the second best choice. AIHL didn't go through a standard NICE review for some strange reason, so "full" approval was not option in the way. But they area asking for a lot more testing to be done anyway before they decide whether to fully roll out AIHL across the NHS.

More coverage:

https://www.thepharmaletter.com/mid-stage-win-stokes-interest-in-redx-pharma

It will probably rise a bit after the NICE news though. But don't personally think that much. Reason being, it only likely to confirm what they already said before. The irony is that them saying tests are necessary but lab tests are preferred for this has probably created a big commercial opportunity for an entirely different company as well. It will be interesting to see if GDR will finally provide a sales forecast for the stroke product at some point after the NICE update.

Thing to watch out for is moving goal posts. You might end up with £150k revenue per month but if monthly spend rises to £600k per month, it actually like being at square one or even worse in financial terms.....On the other hand, any kind of significant regular revenue makes it more attractive for investors when they need to raise funds again.

"drug trial results just released"

I think there's more news due quite soon on the flagship drug candidate as second-stage trial results on humans also now due for that one. I'm thinking it will either be this month or August when published. Then there's also like;y to be news on a partner for the drug just released though that could take a few months to come through. To me, JP Jenkins don't seem to update the price on the website from day to day as it's been exactly the same since it started trading with them, i.e 16p?

Https://www.proactiveinvestors.co.uk/companies/news/1050799/redx-pharma-s-cancer-drug-shows-promising-results-in-early-trials-1050799.html

REDX presenting in Munich on Thursday afternoon.....

Just posted on Redx website:

https://www.redxpharma.com/wp-content/uploads/2024/06/Redx-to-Present-Zamaporvint-Phase2-Data-at-ESMO-GI.pdf

I doubt they'll sell much below 1.5p. But I expect they want to get out quickly so they don't have the risk for long.

They hardly in the big league of investment banks. Personally think it shows they thought the volume would be good enough for them to gradually offload the shares fairly quickly. Which appears to be right.

It's about what I'd of expected because the previous Open Offer that was done a few years ago only raised £400k out of a possible £1.5m.

Well obviously. They'll just sell on the shares as soon is practically possible without making a loss. It shouldn't be too difficult for them to make a small profit if they time the sales well.

Yes, tkevin, you must be right. They ended up being the underwriter of last resort as it were.

They may have to come up with a different plan when it comes to next year's fundraise. lol. People will not subscribe just because share price is still 20% higher than offer price at that point. On the other hand, they may have the got the business on firmer footing by then.

Very well played by Peel Hunt!

Don't really know to be honest Bighammer. The draft guidance is saying they prefer lab tests for the stroke application but if POC has to be used then GDR is preferred. How this will translate into sales for GDR seems difficult to say.

In other words, what I saying is I think potential for BIG rise if funds are raised (though it might take some weeks or a couple of months to get the best out of it as people who hold shares at 1.5p average sell for quick profit)

Muminr,

Maybe a chance for me to get back in if they raise the funds. Obviously they saying they need at least a year before they breakeven. Personally would be looking for short-to medium-term gains if they get funds raised. This would take away going concern worries. However, would still be careful about holding on deep into next year as very common in these situations for company to say they still haven't broke even and in fact need to do another raise.

As I remember in one round of fund raising they did a couple of years ago about £4.5m was raised from an II placing and just £400k was raised through an open offer open to retail shareholders. So I don't think it definite that they reached the target this time, bearing in mind they now trying to get most of the money from shareholders and retail! But I'll be pleased if they pulled it off.