Member Info for stt1

There you go, II reducing. I believe the recent sp spike was down to PIs churning..buying lots of small trades to push the sp higher...

Maven VCT reducing.

https://www.lse.co.uk/rns/FAB/holdings-in-company-ridodmq92oa2bsp.html

Trout

" a total of 424k shares were sold and the bid price didn't move, which was very unusual???"

That's trader talk.

I thought you were a big investor believing FAB have a great future?

Why would an long term investor be interested in daily trades? That is very unusual.

There were hundreds of small buys to push the sp higher, as this is an illiquid share.

Those hundreds or thousands within a week have largely gone.

There were fewer trades and the sp fell.

Looks to me like trades/PIs churning and top slicing whilst trying to convince any gullible PIs to stay invested....

Gheko

"this time will need to be on commercial terms."

Exactly. And no one knows how much revenue or profits FAB will receive. Their current cash is very low and it could take months before it's known IF any contracts come out from their tie ups or shows...

Read the company newsflow

Alice,

I agree.

The cash is very low and company newsflow suggests a placing is likely within the next 12 months.

2024, exactly a year ago. TU.

They stated:

"Cash runway until H2 2026, ie until next year!!!! AND NO plans to raise cash.

8th Oct 2024

"Cash continues to be carefully controlled and, as set out in the Company's FY24 results announced on 5 September 2024, based on internal estimates the Company has a cash runway into the second half of FY26. The Company continues to seek to achieve cash neutrality during that timeframe and has no plans to raise cash through an equity placement."

https://investorhub.fusionantibodies.com/announcements/6568461

19th Nov - just 5 weeks later. Cash as of 30/09/24 was £0.4m(£800k lower than 6 months earlier, 31/03/24)

" Cash position in the bank at 30 September 2024 was £0.4 million (31 March 2024: £1.2 million) with a further £457k owed by existing debtors"

https://investorhub.fusionantibodies.com/announcements/6636471

They then had the Grant awarded.

AND a contract win in Feb 2025, generating $250,000.

"Work in relation to the CLD Project is expected to commence shortly and last six to nine months. The Agreement is expected to result in Fusion generating revenues in the region of US$250,000 by the end of 2025."

https://investorhub.fusionantibodies.com/announcements/6816239

Despite stating in Oct 2024 that they had cash runway into H2 NEXT YEAR, 2026, ie next year

AND winning a $250k contract in Feb

AND being awarded a grant,

they STILL raised over £1m in a placing in March, 6 months ago, THIS year.

"Placing to raise approximately £1.17 million (before expenses) through the issue of 17,365,228 new Ordinary Shares (the "Placing Shares") at the Issue Price, of which approximately £0.57 million is conditional."

https://investorhub.fusionantibodies.com/announcements/6868372

Why won't they need to raise more funds in the coming 12 months?

3.8% inflation is not good. The BoE remit is for 2%, so the figure is still nearly twice BoE target.

The crucial point is this inflation figure, Sept's, is used to determine how much some welfare payments increase from Apr.

The govn can use this figure to determine by how much they will have to raise taxes and if they have room to to slash other bills, eg utility bills

Expectations of lower interest rates also help the govn as they will pay lower interest on their huge debt.

DP64

"Many thanks for your post to highlight the Q&A in the AGM."

The only official news is from company rns.

The lse rule 5d states:

you will not:

"post any private communication, or part thereof, from any other person, including from a member of the board of directors of a listed company. Such posts cannot be verified as true and could be deemed to be misleading."

Conversations between BB posters and BoD must not be posted.

As lse rules state....

"Such posts cannot be verified as true and could be deemed to be misleading."

The only official comments are from the company through rns. Other comments, either by social media, youtube, posters on BBs are never official.

Fab said this about headwinds in their May statement:

"While we are very encouraged by the turnaround in revenue in FY2025, we must remain cognisant of recent challenging market conditions, most notably the downturn in venture capital investment into biotechnology companies that was seen in FY2024, which appears to now be easing slowly. This has continued to affect a significant proportion of the Company’s prospective client base. This also affected their projects for therapeutic antibody development programmes which is Fusion’s current primary customer type.

The Company has since taken steps to overcome the aforementioned challenges. For example, through focused business development activities targeting Diagnostics, Veterinary Medicine and Research Antibody markets, the Company has made the sales pipeline more resilient with less exposure to individual sectors.

In addition, scientific attrition, caused by the natural risk in the development of highly sophisticated targeted biological systems, also impacted the business with some pipeline projects yet to convert and other projects being received later than originally anticipated. In one instance, a project, details of which were announced on 6 February 2024, was paused part way through the project. Fusion understands that it has may now have been entirely stopped. Accordingly, the Company does not anticipate recognising all the project’s full revenue potential, although US$293k has been recognised to date. This type of scientific attrition is an ever-present risk faced by Fusion’s clients and in no way reflects poorly on the Company but rather reflects the inherent challenges of harnessing biology to fight disease. The Company continues to work with the client on other projects which were unaffected."

https://www.fusionantibodies-ir.com/content/news/archive/2025/060525.asp

Cash is extremely low at £250k....

Without significant income, I think there is a higher risk they will:

1) go private. If so, shares will crash

2) raise more funds in the coming months

Humpalumps

1) "TLY" - Allenby was also TLY's broker!!

2) "when you compare the mkt cap to peers"

The same ramp was used on many other shares which have crashed, HVO, Polb, Byot. HVO was compared by their broker to a £400m company!!!!

In fact, for over a decade the rampers at Trmr/rthm, now nexn, have been saying their peers inc Google, The Trade Desk etc...

any peer which shows the company being ramped as hugely undervalued but without mentioning company newsflow and fundamentals....

3) The last raise was at 0% discount....

It's more beneficial for a company to have higher sp when they want to raise.

Look at Trmr, rampers compared to Google, yet they had a deeply discounted placing, as I warned they would.

4) "the fact we have a money runway til FY27 tells us what we're looking forward to the next couple of months"

A year ago they said they have cash runway until H2 2026, so next year. Yet they still had a placing this year 2025.

Last year they had £400k as of end of Sept 2024, this year they have £250k as of end of Sept 2025.

FACTS. Company Newsflow....

2024, exactly a year ago. TU.

Cash runway until H2 2026, ie until next year!!!!.

NO plans to raise cash.

8th Oct 2024

"Cash continues to be carefully controlled and, as set out in the Company's FY24 results announced on 5 September 2024, based on internal estimates the Company has a cash runway into the second half of FY26. The Company continues to seek to achieve cash neutrality during that timeframe and has no plans to raise cash through an equity placement."

https://investorhub.fusionantibodies.com/announcements/6568461

19th Nov - just 5 weeks later. Cash as of 30/09/24 was £0.4m(£800k lower than 6 months earlier, 31/03/24)

" Cash position in the bank at 30 September 2024 was £0.4 million (31 March 2024: £1.2 million) with a further £457k owed by existing debtors"

https://investorhub.fusionantibodies.com/announcements/6636471

They then had the Grant awarded.

AND a contract win in Feb 2025, generating $250,000.

"Work in relation to the CLD Project is expected to commence shortly and last six to nine months. The Agreement is expected to result in Fusion generating revenues in the region of US$250,000 by the end of 2025."

https://investorhub.fusionantibodies.com/announcements/6816239

Despite stating in Oct 2024 that they had cash runway into H2 NEXT YEAR, 2026, ie next year

AND winning a $250k contract in Feb

AND being awarded a grant,

they STILL raised over £1m in a placing in March, 6 months ago, THIS year.

"Placing to raise approximately £1.17 million (before expenses) through the issue of 17,365,228 new Ordinary Shares (the "Placing Shares") at the Issue Price, of which approximately £0.57 million is conditional."

https://investorhub.fusionantibodies.com/announcements/6868372

Why won't they need to raise more funds in the coming 12 months?

Lee

"I’m no Lefty and I despise Labour and their policies, but something is not quite right at the moment."

There's lots of things which are wrong at the moment.

The problem is huge debt built up by world govns/business/organisations/individuals when interest rates were near 0%... That huge debt was never addressed and so now it's become unmanageable...

I see property as a huge asset bubble. The govn is trying to avoid a housing market crash by trying to delay the inevitable for as long as possible, hoping future generations pick up the tab.

The huge incentives for buying a property, the longer mortgage terms etc are all signs that the property market is simply not affordable for many...

I think we're heading for GFC mk2

Gtc

"Allenby called out the need to place in 2023."

Did Allenby say company will have a placing in 2025? Yet, FAB did have a placing a few months ago.

So, Allenby's view was similar to the company, where they said a year ago that they had cash runway to 2026, no plans to raise funds and yet still did..

Allenby, are the company's broker and will promote the company. That is what they are being paid to do...

Higher sp is good for a placing...

Vikr

"The only security risk I posed on the day was having over my quota of biscuits."

Allowing outsiders into any lab is a huge security risk. Given you're a scientist it's even greater risk. Did they do a thorough check on your background to ensure you don't work for a competitor?

Having a lax attitude to security and contamination risks is not good practice.

According to your posts, all scientists you spoke to for 1 min, explained how they were busy...

It's very dangerous to fall in love with any share.... especially one with so little cash...£250k....

Trout,

You were busy ramping HVO at around 30p, despite the red flags and warnings. The company newsflow showed that revenue growth rate had slowed, yet you continued to ramp them last year.

The sp has since crashed to 7p on the back of the red flags I'd warned about.

You've now stopped posting on HVO.

Likewise, Polb.....

https://www.lse.co.uk/profiles/troutisout1/?page=32

Gtc,

Yes a lot of IFs, buts, maybes...

You've invested here for years, at prices over 100p, so obviously very biased and need the sp to recover.

It's very dangerous falling in love with any share.

It's worth a punt, trading around events but not being heavily invested for years...

Vikr,

"So towards the end of the AGM Dr Buick gave us a grand tour of the FAB premises as we walked from lab to lab."

FAB gave you a grand tour and let you speak to scientists. The scientists and BoD weren't busy then .... Allowing outsiders to walk from Lab to lab also causes potential contamination and is a huge security risk.

This would be bad practice for any company.

Pope

"He was right on HVO (but I’ll put that down to luck)."

Luck??? Evidence....

I post company/sector newsflow, counter baseless posts and if I see warnings, I'll post them.... The following company's shares all crashed, on the warnings I posted....so my stance was vindicated..

All these shares had hundreds of small trades to push the sp higher, rampers with baseless ramping. All these shares crashed...

Don't take my word for it, read my posting history going back to these shares. It'll provide evidence...

Polb

Byot

Trmr

Rthm

Nano

So not just 1 share but several...

See the evidence for yourselves- read from this page backwards...

https://www.lse.co.uk/profiles/stt1/?page=7

Allenby are FAB's own broker and are, therefore, paid by the company.

They are doing their job to promote the company.

You have to be naive to base your research solely on Broker's comments.

You have to be gullible to believe rampers who base their ramps on a company's own broker.

Read the broker disclosure statements.

Jollifant,

" That’s totally different to suggesting a placing is imminent."

I've never said placing is imminent. I said coming MONTHS.

In your post of 17.17 today, you suggested coming months is 2 years, ie FY27

Your comment 17.17

"The RNS states quite clearly they have enough cash currently until FY27 so I guess that is in the coming months."

As I proved with the posting the company newsflow, last year they said they had cash runway until 2026, yet still had a placing 6 months later.

Coming months is exactly that. It's not imminent, 'coming weeks' or 'years'.

"Within the next 12 months every company on AIM could have issued a placing."

Yet you said FAB won't have a placing as they have stated they have cash runway until FY27, so you don't believe the company or your own statement??

Rp

"The fact that the sell off this morning got bought up and we ended green speaks volumes "

There were hundreds of trades today, smaller trades to push the sp higher...

There aren't hundreds of PIs, are there?.

It's the same PIs, rampers and their mates, churning to make it look like there's interest.

Same thing happened at HVO last year.... hundreds of trades to push the sp higher, the shares crashed as they didn't get the contracts, exactly as I warned, from 30p to 7p. The rampers sold down, whilst telling anyone gullible to listen to hold on as future was great....

Read the msg stream titled 'hundreds of trades'

https://www.lse.co.uk/ShareChat.html?ShareTicker=HVO&share=hVIVO&page=3

HVO gone quieter, FAB thread busy... and vice versa..

Coincidence???