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I'm disappointed they did this with no good news lined up or potential investor to buy all the newly issued shares, especially as they claim to be fully funded to the end of this year. Could they really not have waited longer and timed it better?
I really hope they had/have some sort of plan with all this. What are they expecting if they have no potential investors lined up or no good news to prop up the sp while they search? All seems a little nonsensical to me. Hope I'm proved wrong in the coming weeks...
'In line with our business model of developing assets and seeking partners at key inflexion points, the executive management continue their efforts to license MTD201 to a partner who could underwrite development costs and ultimately, market the product. Discussions with potential partners have progressed but such transactions cannot be guaranteed and, as of today, no licenses have been signed and your Board believes it imprudent to rely on milestones and reimbursed expenses from potential licensees when estimating working capital requirements.'
I found this interesting as it says discussions with potential partners have progressed; this is the first time I've been aware that there ARE potential partners (plural as well). It could be that I missed mention of this in past communications. It would be great if someone jumped in to help get MTD201 on its feet, but, as it says, there's no guarantee. Hope springs eternal...
Constructive and active dialogue -
GMS: 'Please can we have another month extension?'
Bank: 'Er... OK, go on then.'
GMS: 'Cool. See you next month!'
Disclaimer - this is not insider information.
Does anyone know why the sp is getting hammered with no news? The spread is a mess (18.41% at time of posting). Is it the price of oil or is there something else going on?
I think that's just for the American ADRs, I don't think the ordinary shares in the UK will be affected (could be wrong though). They're just trying to get the US SP above a dollar so it remains listed on NASDAQ.
I interpreted it as mixed news. It does mean we're going to be further diluted by the looks of things, but I think that has always been on the cards - the money has to come from somewhere. What is interesting is Cook saying "We continue to examine all options for financing our lead R&D programmes and manufacturing scale-up. These Resolutions are designed to provide flexibility to enable an equity fundraise in the USA." He mentions the manufacturing scale-up, so I am hoping that is what the main purpose of the fundraise is (especially if they have enough cash to get them to the end of the year, as they claim). As one not too worried about the clinical trials failing (though I don't rule out the possibility), the funding for the manufacturing facility (as well as ongoing costs for other areas) has more been my concern. I also have a feeling that they may have an investor lined up already, hence why they are specifying a fundraise in the USA; I could be wrong though. The SP will probably take yet another tumble as a result of this, which is a shame.
I have no idea. The company has made some excellent u-turns in their fortunes, announcing many new contracts, banking progress and improved EBIDTA guidance, and yet nobody is biting. This time last year the SP moved up to 18p+ when it had much less promise going forward. I don't know what people want to hear from this company before they start investing...
That's not what the charts are showing...
Fair enough if people are disappointed by the LOM but is it really possible that Kodal will do nothing else at all in the 8.5 years? If they're finally generating cash surely they'll do more exploration (this time not at the shareholders' expense) or maybe even have a go at starting up those gold mines BA is always harping on about.
That is quite encouraging. It was said phase I would conclude Q3 of 2019 in an RNS back in July. As far I am aware (correct me if I'm wrong) they haven't released an RNS to say the results of phase I - however, the clinical trials say 'Phase 1 has completed sufficient safety assessments at highest dose level. Protocol for phase 2 expansion is ongoing'. Does that mean we can expect an RNS in future confirming this?
I assume the 'suspended' business means they are waiting for the go ahead to commence phase II, I don't think we should be too worried about that.
Interesting contract award there. Wish they'd quoted the actual financials involved, seems a bit ambiguous but it's good news nevertheless.
Why do they keep setting such specific deadlines? They could just be more vague and say 'within the next few months' or 'in Q1' but they keep quoting ambitious dates and failing to deliver.
I think the company (hopefully) becoming financially independent is going to be the start of any meaningul rise. Good news seems just to bring in those who haven't researched the company and are either traders or people thinking the sp will continue to rise and they'll make a quick buck - they either take profit, or sell out when they get bored or worry about making a loss, leaving us long-term holders back at square one. Financial independence will potentially be a snowball effect; if they get one drug to market they should be able to self-fund all their other pipeline developments.
All the above is my opinion and interpretation of the situation. I could be completely wrong... DYOR!
I personally think things are back on their way up. They're at 73% utilisation for the whole of 2020, which is more than 2019 had at any point. If they can get a few more of their vessels chartered they should be able to start meeting future convenant tests and eventually paying off their debt. The new board seem to be working hard to turn things around.
I dont think it will rise. Lots of people jump on when they see the sp rise without really researching the company, then when the price begins to drop they all sell. Its happened everytime theres been good news.
It's doing great over in the states. Let's hope UK follows suit.
I guess this company isnt exciting anymore. I remember when any bit of good news was released, the price would go through the roof then come back down. Nowadays it basically does nothing. At least its positive news though - at the back of my mind I did worry that there was the potential the drug hadnt worked as effectively as they had hoped.
I'm at 6.9 average, but I will average down soon. I'd be happy for 8-9p at this rate...
I guess as long as they get the main two drugs to market we should profit in the end, even if its not such a spectacular rise as it could have been.