Member Info for ThetaDecay

Already hit 11p in first 5 minutes of trading!

I think this is the largest single HCT in history. Hvivo really won big with this size.

Agreed Trout, I initially estimated closer to £30 million a few months ago and I think it will be close to that now.

Yes this will make them fully booked for a year I think. Great news, I was expecting 300-400 size, not 500. Wow

HERE WE GO! Knew it was going to be a big one.

"500 healthy volunteers recruited through the Company's participant recruitment arm, FluCamp. This represents hVIVO's largest HCT to date."

Phase III trials need a size like that and this means It will be closer to £20 million+ than £10 million as some on here feared.

GLA

Also I think the effect on the Iran war is overblown by some on here. Lithium stocks in the US don't seem to be effected nearly as much, like Sigma Lithium has gone up 150% in the last month.

We need some news. Would be nice to hear about progress towards either a JV, funding or FID.

"We intend to provide further clarity on the outcomes of the work we completed through H2 2025 to enhance the viability of the Project. This work will help define the direction of the Project's development and inform the steps to be taken ahead of a Project Final Investment Decision". Would be nice to get an update about this...

Maybe they are in takeover talks again with the same party that did the pre-rat bid? Hence the silence?

It should be around the 60p range currently, massively discounted by market. If THG start to make real profit in the coming years I can see it easily going above £1

🚀🚀🚀🚀🚀🚀 £1.6 soon. DYOR GLA 🚀🚀🚀🚀🚀

I've made a claude Dashboard that goes into Puretech in detail and spits out a DCF valuation if you go to the DCF tab.

As a base case we are looking at about 350% increase in SP from the current if you do a sum of the parts on Puretechs pipeline and stake. Puretech is trading at a massive discount currently with a catalyst rich 2026-2027, I can see the SP at least tripling from here. I'll post the artifact link below in case anyone else wants to take a look, it goes into puretechs pipeline, cobenfy revenue projections and competition. We could be seeing close to $250 million in revenue per year by 2030 which isn't far off the current market cap.

https://claude.ai/public/artifacts/06657438-262a-4755-8013-1b242bee4a65

Https://claude.ai/public/artifacts/12139d6d-5d93-4fbc-9277-0262942875f2

Only Bloom Energy in the US can compete with ITM in this space currently and we know Europe would much prefer to source in Europe than the US at the current moment, opening up a big goal for ITM here

Nucera also has PEM but they specialise in Alkaline, difference is ITM's products allow for modular, repeatable deployment whereas Nucera focuses on factories and gigawatt-class systems that plug into refineries and plants. So ITM fits more with what Rheinmetall are looking for in their Giga PtX plans. ITM is perfect for that and Nucera can't match ITM for smaller scale modular set ups. I would prefer to own ITM rather than Nucera for that reason alone.

The fact ITM beat Thyssenkrupp Nucera for the Rheinmetall rollout contract speaks volumes to ITM's technology. German companies always have a Preference to hire other German companies for large contracts like this and thyssenkrupp nucera (NCH2) is the largest hydrogen electrolysis company in Europe. Long ITM

Since its a Phase III trial I wouldn't be surprised if the contract would be around £20 million or more, especially if they use more Hvivo services.

Nice, I was wondering how Traws would fund this trial with only $6 million cash on hand. This sorts that out and then some.

That's very low compared to other pre-commercial biotechs like Puretech, even with a Cobenfy royalties, 1.1% is very low compared to the average of 7% short interest for pre-revenue biotechs in the US. There will always be some short interest in Puretech because biotechs have the highest level of success for shorters in general and the massive amounts of competition that puretech faces in LYT-100 and LYT-200.

£40m orderbook was from interim results at end of September 2025, no mention of orderbook in January. I got my times mixed up so I think after January update orderbook is around expected, thats why I sent a message after to say its around expected although has still decreased since the interim results.

Actually even orderbook is probably around expected tbh, lets see how the market sees it.

True, positives are £1.4m adjusted EBITDA while Cavendish had a loss target of £5.4m. Iliad deal finalising and most figures have hit expectations after the January update. Negative is the contracted orderbook has fallen to £30m from £40m announced in January so tells us some biotechs are delaying or backing out. Still holding, might add if it dips today.