The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
The story continues to gain transparency, but not optimism.. The original MTX-110 license agreement with Novartis was badly negotiated, and left little margin for geographic sub-licensing into, say, Asia. Secura Bio understand the value of MTX-110, don't see MTP doing enough with it (a couple of sluggish US DIPG trials with the typical slow patient enrolment issues and uncertainty about any long awaited European trial with the doubts about the EU grant validity for MTP to fund it, partially)) and want the rights to revert to them. MTP want to re-negotiate with Secura Bio because they need to sub-license the drug (to CMS perhaps?). All roads lead toward administration at this time and Secura Bio may just have prodded the company further along that pathway with this scurrilous action. What a mess of mismanagement at MTP the last few years have been, not helped by the medics faffing around with their diluted trial protocols which take forever to submit, and their too strict enrolment criteria which leads to too slow a patient enrolment rate, all whilst kids continue to die. It's a horror story which will end badly. When this company gets to administration, who will own MTX-110? Will it revert to Secura Bio, or will someone else buy it? But then they will still need to re-negotiate terms.with the licensor, Secura Bio. More soon.
Guys...this is the reality. This company is headed straight to ts destination: administration. Don't doubt it. Buyers of the assets they want, if they want them, know they will buy them much cheaper simply by waiting for this inevitable train crash to happen. Assets? Their top priority/most valuable asset isn't even theirs, is on a questionable license tenure with the new US owners after the divestiture by Novartis. The original license terms of MTX-110 are too onerous to distribute the drug worldwide especially Asia which was the major shareholder's objective. Their other drug, which has now been relegated to second class status after holding out so much promise (why?) isn't getting a market bid for it or the company. Go figure. The ex CEO has gone to Herantis, and guess who was a non exec director there? None other than Jim Phillips. Yes, him. Smart money is waiting for administration. Don't expect a bid anytime soon. The market seems to agree.
Guys...this is the reality. This company is headed straight to ts destination: administration. Don't doubt it. Buyers of the assets they want, if they want them, know they will buy them much cheaper simply by waiting for this inevitable train crash to happen. Assets? Their top priority/most valuable asset isn't even theirs, is on a questionable license tenure with the new US owners after the divestiture by Novartis. The original license terms of MTX-110 are too onerous to distribute the drug worldwide especially Asia which was the major shareholder's objective. Their other drug, which has now been relegated to second class status after holding out so much promise (why?) isn't getting a market bid for it or the company. Go figure. The ex CEO has gone to Herantis, and guess who was a non exec director there? None other than Jim Phillips. Yes, him. Smart money is waiting for administration. Don't expect a bid anytime soon. The market seems to agree.
Guys...this is the reality. This company is headed straight to ts destination: administration. Don't doubt it. Buyers of the assets they want, if they want them, know they will buy them much cheaper simply by waiting for this inevitable train crash to happen. Assets? Their top priority/most valuable asset isn't even theirs, is on a questionable license tenure with the new US owners after the divestiture by Novartis. The original license terms of MTX-110 are too onerous to distribute the drug worldwide especially Asia which was the major shareholder's objective. Their other drug, which has now been relegated to second class status after holding out so much promise (why?) isn't getting a market bid for it or the company. Go figure. The ex CEO has gone to Herantis, and guess who was a non exec director there? None other than Jim Phillips. Yes, him. Smart money is waiting for administration. Don't expect a bid anytime soon. The market seems to agree.