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Major news.
Point had an exclusive license to 'Ground-Breaking' technology and seems Lilly have acted quickly to secure it. THey will now have sights on the bigger prize (Avacta). I wont be surprised to see other big players move quickly now.
Avacta confirmed last week that the Pre|CISION platform works! The Chairman has even stated, in a legally approved RNS statement, that the RESULTS are 'Ground-Breaking.'
"The clinical data emerging for our lead pre|CISIONTM drug, AVA6000, is ground-breaking. We are seeing a dramatic reduction in the usual toxicities associated with anthracycline chemotherapy and we have clear indications that doxorubicin is being released in active form in the tumour microenvironment.
Avacta has moved from not wishing to discuss the phase 1a data until completion of the study, to publicly stating that the results are ground-breaking - yet you can still buy today at the same MC as was prior to first patient dose!!!
You can be 100% sure that when Avacta release the detailed data (could be anytime now) it is going to blow the market away. There is no way the Chair makes such a comment in an RNS weeks prior to data release, if said data is not absolutely blockbuster.
I dont think there has ever been such a huge disconnect between market value and asset value.
JT,
I would also argue that it would be worthwhile to carry out a biopsy of a straight dox (75 mg/m2) patient to directly compare the amount of dox in the tumour between straight dox and ava6k.
Do you think there is chance they will have already done so at MSK under Dr Tap?
Incredible RNS and incredible statement from the CEO > 'I believe that we are on the verge of a paradigm shift in how chemotherapy is delivered to cancer patients'
Does the market want to see the funding plan or will it finally let rip today? I think it has to be the latter.
@touk
Launch Diagnostics generated £14.17 million of non-COVID-19 related revenue in FY21, with total revenues including COVID-19 related products of £32.75 million. Since FY19, the gross margin in total sales has consistently been in the range 44-50% across all products.
Any increase in COVID related revenue WILL HAVE A POSITIVE IMPACT TO AVACTA
Of course pre|CISION is where its at but it is short sighted to right off potential increase in CORIS revenues associated with Covid.
AS alluded during SD that the vision for the DX div was to build and then sell off to PE for xxxM (eg 80-100m)
If possible, we would be in much stronger position to retain ava6k for longer.
Interesting. We are still in Summer with winter months to come. Could be nice bonus revenue for Avacta
https://www.thejournal.ie/pharmacies-pharmacists-covid-antigen-tests-case-numbers-6148135-Aug2023/
THERE HAS BEEN a surge in the number of antigen tests being sold in pharmacies in recent weeks, pharmacists say, as Covid-19 case numbers continue to rise.
1. Avacta
Avacta shares have dropped from a record 185p in early February to just 104p today, leaving the junior with a £286 million market cap. While it remains highly capitalised with £27 million on the balance sheet, it’s a very strong potential buyout target.
Even after making multiple purchases of its own — including Coris Bioconcept for £7.4 million recently — the majors are almost certainly watching the FTSE AIM company closely.
Flagship AVA6000 — a novel form of standard chemotherapy Doxorubicin — which is coming towards the end of phase 1A clinical trials, recently reported back on its successful fifth dose escalation. Crucially, the company noted that ‘several patients in cohort 5 and earlier cohorts remain on treatment as their disease has not progressed.’
Further, AVA6000 patients are seeing a ‘marked reduction in the incidence and severity of the typical toxicities associated with the standard doxorubicin chemotherapy administration,’ with clinicians reportedly unable to tell whether patients are even on the drug. And the next cohort will be treated with 2.7 times the standard dose of Dox.
Having taken on board multiple persons of note, Avacta has also just appointed Consilium Strategic Communications as the company’s investor and media relations advisor.
I'll be amazed if Avacta make it to the commercialisation stage. If it's good enough to commercialise it's good enough to be bought out.