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There was a time when Fosun was to be the saviour of our world, delivering an abundance of riches, but we’re about to cash a cheque for half a million bucks, from which we’ll need to deduct I presume international lawyers’ fees. Now of course we’ve moved our attention and hopes onto exosomes and it’s pre-clinical trials, but even with a fair wind it’s probably several years of development out. If one subscribes to the concept of an efficient market, as I do, and think it’s both appealing intellectually and remarkably well supported by the facts, then perhaps a buck a share is presently a realistic price.
Nonetheless I continue to enjoy reading our optimism and equally recording an alternative spin, but like everyone else I hope this will soon be a $50 share, albeit I’m not seeing much evidence to support that aspiration nor does the market. But I’ll hang on just in case and hope others’ dreams come true sooner than I expect! Have a good weekend and fingers crossed that the Board has better access to information than we or the market does.

Thanks Phil for your new year appraisal. Of course we would all like ‘exosomes’ to succeed but I’m not sure I’m after the deal you imply.
Its probably fair to assume any potential acquirer will be sophisticated; their price algorithm will discount the purchase price to reflect inherent risk in a five to ten year development. A development which is presently way way short of clinical trials. Thus any price offered today will be less than that offered as risk is hopefully reduced through the cycle. Of course if your or the board’s ambition is a multiple of say 3-5 then perhaps an immediate deal could deliver that. Personally this is an all of nothing investment, and all for me is not $5-$10/share. I’ve waited ten years and I’m prepared to wait a few more if the price at that time is a factor of ten greater than it would be today. Of course there’s the ‘bird in the hand’ theory; I’m happy to take the risk and wait for ‘two in the bush’ albeit energy, drive and speed to market are not attributes that would generally be attributed to Reneuron!

My assumption is most posters, like me, are LTS? In my case, whilst it would be nice if this was $5 rather than a $1 it’s not going to make a lot of difference to my view of this share. The reality is we’re still occupying a small phase II trial space and despite the puff, exosomes are pre-clinical research and are likely to be so for a while. So perhaps it’s not surprising the sp doesn’t reflect the hope, no matter how we dress that hope up. Nonetheless I’d be over joyed if the optimists are proved right but I’m not going to hold my breath because it could be a while; a while I’m prepared to wait!

Interesting few posts, particularly Mol's grounding in a form of reality. Fosun seems to demonstrate early licensing deals, certainly pre-product, are not necessarily a panacea for share holders other than to off load R&D costs. So whether the next one relates to the more advanced efficacy trials or exosomes time will only tell, as will the value added such a deal may bring! As Stateside implies however I found the Chair's statement illuminating. Perhaps for the first time I heard a senior board member talk about commercials and share holder value. Whether this signals the opening of a fissure between an ambitious chair and a laissez faire Executive time will again tell! As Mol seems to suggest the present CEO has administered rather than lead this business, living off the same old utterances. Crumbs of course that keep many going.
Whilst my general theme on this board is one of frustration, having lost over the years too many dollars to count, nonetheless I too will hang around. Have a good December.

Useful reminder PC that the market demands that for every buy there’s a sale, and whilst some posts are optimistically repetitive, nonetheless we all hope that like a broken clock they ultimately prove to be correct.

Thanks GB. It seems to demonstrate an important collaboration as well as revealing likely timeframes for such activity. Whether stage results, in advance of completion, will encourage potential partners is of course the $640 million dollar question many of us are frequently asking.

You will come to your own conclusions on the optimism and apparent reasoned arguments expressed. They have however been faithfully repeated for many years, sometimes several times per week but have yet to come to fruition, whilst cash calls and dilution have understandably been a definitive and regular feature of this business. If you’re making an investment choice this board may provide colour but not necessarily objectivity.

Whether it’s accidental or deliberate, RENE’s briefings seem designed like B movie cliff hangers, with the end of each episode constructed to tempt the audience back for the next instalment! Nevertheless I sometimes sit here in the dark, munching sweet and salty popcorn; escaping reality and fantasising that regular posters may be right .... but then without warning the lights come up and as predicted the hero/heroine is still tied to Olav’s metaphorical rail-tracks. Nonetheless, like many I’ve bought my ticket, so I order a drink, take my seat and wait mechanically for the next predictable episode and commentary. I’m sure my therapist could explain this - have a good weekend.

Whilst four pounds would be welcome and is of course a lot better than a dollar a share, it’s nevertheless a lot lower than the target price Edison used to pump out on regular basis, and even at four pound would leave some under water. Whether one plagiarises Carly Simon or Prospero, it’s not quite the stuff that dreams were made on! Happy holidays..

Oh my goodness the Sea of Tranquility, which was this board is over LOL. I think the person you refer to, unless rebadged, has only made the occasional appearance but generally the level of rhetorical hyperbole has gone down, perhaps like in the Tragedies of Sophocles, posters are fearful of their Nemesis reappearing. Welcome back Purps LOL. As an aside we’re still awaiting a delivery of jam, but we understand it’s on its way!

Recent posts illustrate the changing nature of the business. It’s centre of gravity is shifting. It’s testing sites include both the East and West Coast as well as European centres. It’s partners are predominantly but not exclusively from outside the U.K. and whilst this board can debate whether Mr Hunt’s designation is FD or CFO I’m sure there’s unanimity that the future role is not simply about numbers. And assuming the search is good, and I can’t see why it shouldn’t be, then the appointment of his successor could be a watershed moment, which may not represent hyperbolic fruition but nevertheless may be a catalyst to and a sign post of a new commercial reality. I wish his successor good fortune.

Whilst still asleep I would concur with Phil’s comments that Mr Hunt seems a decent guy. As FD he passed the big test of keeping the business afloat but on the other hand if market price and speed are measures then he sadly failed. Nonetheless in the round he has been an invaluable player but seems to have reached his sell by date. Personally like others I would wish him well. A New York listing? This board will need to listen out for his successor’s accent!

As a regular if infrequent reader of this board, I envy the resilience of posters who week in week out continue to push the same hope. Nonetheless like a broken clock hopefully the right time will soon come along. I would however concur with Clive that plans need to convert into deliverable outcomes and not simply be moveable lines within a Hunt presentation.

As this board repeats storylines and prophecies on a regular basis it’s good to see either side of the pond vaccine targets. Joe has set 100 million doses in his first 100 days, which of course he’ll achieve. Similarly the U.K. has set a target of all over 50’s by the end of May. Setting targets for Rene is perhaps more difficult but nevertheless please Mr Hunt & Co provide some expectation management rather than leave this board floundering or more frequently fantasising about when this particular goose is going to lay its golden egg. Like all long term retail investors I’ve read on a weekly and I’m sure some on a daily basis the words 6-12 months! If Rene can’t provide a target perhaps to enhance efficiency the board’s hosts could automatically include the phrase ‘6-12 months’ in each post, which would save contributors time.

As we reflect on breakouts, inflection points, whether this share is subject to its very own bull or bear market and whether NASDAQ would provide a better turn, I guess, because that’s all I can do, a paradigm shift in share price will only come about through trial results motivating serious interest. Those of you who keep a close eye on these things will no doubt know whether that is likely to occur this year, next or beyond. Clearly a buyer could take an early punt but let’s hope our non-retail investors understand Rene’s potential value not to go early. If my assertion is correct I again guess that daily movement is not a feature of some complex algorithm but is simply MMs nickel and diming, with the share’s present general value a function of its funding level. But who knows? As you will detect I don’t!

Given cash burn was known and there was some notional control over timing then I would agree with GB’s assertion that this may have been intentional. My assumption is Hunt knew how he’d successfully get it away through knowing the requirements of those who’ve effectively unwritten it. I just now hope Rene delivers expeditiously so we can all get a buck out of this rather than spend our lives listening to promises that are sadly becoming repetitive and predictable.

The board’s posted narrative is unchanged and some may say repetitive and predictable but nevertheless the cash call was successful and has highlighted the continued confidence of some key investors. I like everyone else hope that before the need for another round we see outcomes that justifies our planned patience. Fingers crossed that ‘22 if not ‘21 is a good year. Have a good holiday and beyond. Merry Christmas

I’d be surprised and disappointed if they were “fuming”. They’re mature investors who I assume understand what they’ve bought into, including timelines and Rene’s cash position and how it’ll be resolved. Clearly like the rest of us they want to make a turn, but the odd cent here or there?

An interesting and informative critique Onceaday. Like everyone else I too want to make a buck out of Rene but some posts do make me smile. Yours is an exception and provides a counter balance to the hyperbole that is a regular feature of this board. Thank you.

Onceaday and Phil’s points are good ones. With no placebo or blind dosing the results are immediately available to practitioners and recipients alike; the only potential variable is the effect over time but results to date appear on the face of it to be promising. Nevertheless Pharma, including those in the US appear not to be taking the bait? Given Fosun’s relatively small upfront licence investment we may wonder why? Is it the end trial date of 2023, but it has Orphan status; is it something to do with the market?
An average drug to market cost is over a billion US; Rene could easily be taken out for less than half that. So what are we missing or perhaps exaggerating?