Member Info for Vander

Good broad based development but they need to focus on the lead product and advancement to phase 1-otherwise spread too thin

The new management team are there to progress cmc manufacturing, glp toxicity and other ind/cta filings for np101.

The most pressing issue over the next 6-12 months is securing funding for a phase 1/ first in human trial

If they don’t get a partner/licensing deal they will have to raise £5-15million? Happy to be corrected by Nigel at upcoming presentations

On the positive side they are addressing an excellent clinical need that much bigger pharma have not yet solved- unfortunately it reminds me of trying to reformulate viagra, where Pfizer failed

After funding the key bits are toxicology, manufacturing scale up and ind/cta filings - where are they with that?

Yrabs- the SP on 3rd March was 1.1p

The Gabon contract was announced on 4th March in addition to to the issue of 100m new shares with associated dilution

Apologies- SL contract renewal in 2027

We predicted that the Gabon contract would come to pass, but that it would start to unravel after a few months. Also that fowler’s tema hype would fail to materialise despite scanport shortcomings

Misty signposted the M25 conflagration well in advance and its implications on contract initiation

An area of concern is that fowlers mention of SL means deeper trouble ie non renewal of contract initiation 2026- that may be overly harsh- they are well embedded and chums with the SLAA but summa may not be fans

Aiming- next time you see disastrous news which the rest of us have not spotted, can you come out of hibernation and let us know?

Many thanks

Aiming- I agree re the delay- an issue is that negative research is not shared on here in a timely way

You mention that Mike Gp provides the only posts which you find useful- but Mike does not post negative news

The bolt on fee is a highly visible cost which is easy to target and become resentful about

It’s interesting that out of touch African DoT try to enforce the WSG fee on local stakeholders at short notice which they then refuse to pay.

Fowler knows the playbook-he used the Gabon contract to lure in Greystoke so the bait worked irrespective that it may be a dud

It’s likely the n7 tax will be unpaid whilst we wait for higher level negotiations, given the anac recommendation posted on their website

We await an official communique from anac and/or DoT which may take weeks/months

The bigger issue is whether the contract is sustainable in the long term, and when does fowler down tools- the usap audit showed a number of flaws which may or may not bolster the case for the WSG - do they have an essential role or are they are costly bauble

In tema there was stakeholder unrest regarding port fees, but MPS held the day

In Liberia, stakeholder revolt against the specific Wsg tax meant it was instantly killed off, demonstrating a naivety in Wsg and the DoT, completely out of touch with the local economy and people.

DRC civil war is dismissed by fowler, and fowler has hibernated the set up

Surely fowler has planned for this scenario in Gabon? How much are interim expenses?

The ANAC’s request for suspension of the N7 security charge is a proposal, not a legally binding measure in itself.

However, the government decree from 29 November 2023 regulating airport security charges (“modalités de recouvrement et de répartition des redevances de sûreté des passagers et de fret”), which provides the legal framework for levying and collecting these kinds of security fees, does not provide specific and explicit protection for the WSG charge. The charge seems subject to change, contingent on governmental decision

Btw the n7 charge for international flights is 23000 CFA francs (£29.30)- not 1%

We await further discussion/ negotiation between the gov, and different stakeholders, with a broader evaluation of aviation pricing by the haddock commission part of the solution. However, the Wsg charge is now under specific scrutiny as to its value/worth- anac are unhappy with it, which does not bode well over the long term, as they are wsg’s closest partner (cf scanport and gpha in tema)

Well done big ears

You immediately followed the correct course and action- to distrust fowler’s bland reassurance and investigate the core issue

https://www.ecofinagency.com/news/0809-48507-gabon-aviation-regulator-seeks-suspension-of-passenger-fee-to-lower-ticket-prices

It’s sad that fowler responds within the hour to an SP sell off and provides no substantial feedback for months/ years (at times) on DRC, Tema, Sierra Leone, and Malawi. Mike was also keen to know about Fiji

Fowler follows the royal adage of ‘never complain, never explain’

To attract pharma partners they need to be presenting and networking at the large scientific conferences- otherwise you are not part of the game- it’s a worrying sign

Fowler has been CEO since 1996

Every year he has promised multi- million contracts which have never materialised - however his optimism has always attracted punters to support tens of placings and more recently an 82 year old angel investor, who liquidated the school founded by his wife, to partly fund it. He saved Wsg from bankruptcy?

However, despite growth in revenue the pre tax losses have grown: £3.2 million reported over an 18-month period through June 2024.

The Gabon contract is in operation but set up costs, high overheads, incompetent execution, adverse local socio-political events and unfavourable market forces always seem to subsume profit

They are a small outfit and the 4 pronged gabon operation will be time consuming and hard not to mess up on a ongoing basis

In the meantime fowler needs back up yarns- partly to fob off Greystoke- DRC would be a disaster if it ever saw the light of day- war , humanitarian and economic crisis, poor and corrupt internal governance with non paying, non- digitalised, hard to reach creditors

The shares are not cheap- they have been diluted

This time last year Abercorn school closed

It was set up by Andrea Greystoke in 1987

Bigears- this is a helpful analysis

Do you believe figen murray will make a difference?

The closing market SP on 3/3/25 was 1.1 p

The Gabon contract was announced on 4/3/25

A large pharma will likely want this progressed to successful phase 1 clinical trials

A problem is that NP101 relies on multiple technologies which each have to be proven

Ie silica nanoparticles with spiky morphology with reliable scale up manufacture without clumping and safety data

Enteric capsule (has it a patent?)

Mannose targeting ligand

Multiple mRNA for IBD

Each tech is interesting but makes it complicated and less certain for a partner

The have laid out a 12-18 month timetable of development with the new managers- with last results in May?