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|Almost all current radiotherapy uses photons. The major problem with photon beam therapy is that it damages the healthy tissue around the cancer. Depending on where in the body the cancer is situated, it can cause brain damage, damage to the heart and/or lungs or any other organs in the vicinity of the tumour. That invariably results in a long recovery period and the affected organs might never fully recover even after the cancer has been killed. That is particularly an issue with cancer in children. In 20% of cases the previously healthy tissue that is damaged in photon therapy becomes cancerous because of the damage caused by photon therapy. Proton beam therapy causes little or no damage to surrounding tissue so patients recover for more quickly, do not usually suffer any long term side effects and rarely experience cancer in tissue around the original cancer.
That means that it is essential that photon beam therapy is discontinued and is replaced by proton beam therapy as soon as possible. According to AVO, their LIGHT system is the only small and cheap proton beam therapy system in existence that is anywhere near ready to replace photon beam therapy. It is not a case of waiting until proton beam therapy is proven to work. According to AVO, it has already been established that it does work and the only thing that prevents its widespread use is cost. That is where AVO comes in.
Not only is the LIGHT system smaller and cheaper than its competitors but AVO have plans to make LIGHT even smaller and cheaper than it is now.
If you explore the field of proton therapy companies you will see that they all have teams of highly qualified doctors and scientists working on improving and minaturising their cyclotrons and making them cheaper and better but it seems that they still have to work with cyclotrons with all the problems of radiation, the need for bulky shielding, high maintenance costs and high decommissioning costs. All drawbacks that the AVO LIGHT machine does not have. According to AVO and accepted by the Environment Agency, the radiation from LIGHT is lower than that from a dentist's Xray machine. Tereare very many of those in dentist's surgeries in little terraced houses in residential streets throughout the whole of the UK.
There soon won't be any reason to keep the old style proton therapy machines and photon therapy machines, except for the limits on the availability of proton therapy machines like AVO's LIGHT system.
Finally, AVO says that not all cancers can be treated with proton therapy. They say that there are other types of radiation therapies waiting to be developed that will treat other cancers and that they have the expertise to develop them. They say that they are waiting until LIGHT is firmly established before developing some of the other forms of radiation therapy to treat cancers that proton therapy cannot treat.|
|Of course it's good news that they have been able to raise the funds, but nevertheless Directors shouldn't be able to go around blatently breaching the AIM rules, without any action taken against them. Happens all the time in AIM, though.|
|A great deal of focus on Evans flogging 130k or so but v little from certain posters on Directors and a new shareholder stumping up £10m. Strange...........|
|Well his Wiki page says he WAS deputy chairman, but is not now. So another regulation rule broken, and it's down to AVO not him to inform. Maybe you can ask that one along with the question re sales tied to Harley Street. You won't get a straight answer I suspect.
|I agree tia. We can do without the wrong sort of RNS but as I see it the problem over Lord Evans could be down to him not telling AVO. While he is officially deputy chairman, he hasn't exactly had a high profile in recent years. All he seems to have done is lend his name, title and reputation to the BoD. I cannot recall him being involved in anything very much. I suspect he might be leaving because of his age and he might be getting past it. It could explain a lapse if that is so.
I've known BoDs that have only issued RNSs when they absolutely had to but done reasonably well for their shareholders. I've also known a few that have made a point of announcing the smallest event as proof of fantastic progress even as they took the shareholders for a ride. AVO seems generally ok to me. If I've had concerns I've asked for answers and got them.
I'll wait for my jam.|
|The product might (potentially) be the best of breed, but unlike rivals (such as the Dutch firm highlighted recently) they are not yet commercial. The issue is clarity. The company stated that all 'orders' taken to date are reliant on Harley Street being open as a demo site. All fine if that was 2017, not if it's 2019/20.
If that has changed (ie they will gain sales on the back of instillation elsewhere) that is speculation not based on company statements. If they have a back up plan, then they should say, if not they need to be clear about the implications on funds/orders etc and do so before shareholders are ask to partake in the OO.
You may love CERN and or Proton light therapy but they are very capable of messing it up commercially and recent RNS's have just made matters worse.|
|I agree with you entirely dejavu. It's the long game we're all interested in and things do appear to be progressing well. However a lack of transparency on the Lord Evans issue yet again undermines what appears to be good work by AVO. This is an AIM share and still very much at the 'jam tomorrow' stage. We need RNSs that clarify not raise more Questions|
|On the other hand there is the small matter that CERN physicists have spent many years developing a groundbreaking technology that CERN has licenced to AVO who have put a lot of time and effort into developing the first useable machine and a production capability. AVO has stuck to the development and testing schedule that they published in 2014 and have told us that construction and testing is on target to be completed by the end of this year. They have also informed us that the first production model of a planned series of eight a year should be completed a year later - by the end of 2017.
The delay in Harley Street is a disappointment but not something AVO has any control over. Harley Street was intended to house the first machine as the showcase for the system but that honour is now likely to go to a hospital in China. It should not matter because AVO is a manufacturer of proton therapy systems not an operator of proton therapy clinics.
In my personal opinion, the delay in Harley Street and the doings of Lord Evans are unfortunate but irrelevant as long as AVO can churn out machines and sell them.
If AVO can do that, a discounted cash flow calculation indicates that if AVO starts off installing just the one machine in the Chinese hospital that they are contracted to supply and manages to do no more than double that each year until they peak at Thales annual output of eight machines and sell at that rate each year from then on, the share price could reach around £17 in eight years.
AVO has much bigger plans than that.
If, on the strength of Howard de Walden's failure to provide Harley Street on time and the doings of one old man who appears to be leaving, you believe that AVO are not up to the job of producing and selling a world beating proton therapy treatment created for them by CERN then AVO is not for you.|
|TW is a big fat useless Kent!|
|TW has his uses|
|I'm not a shareholder daijavu. If I was I'd be straight on the phone ranting.|
|Igbert. Why don't you take it up with the company or make a formal complaint? You seem to be the one with the greatest knowledge of these matters so the best person to handle it.|
|So the Director was selling from 19th August ? 11 days before the half year results were issued ? Is that not insider dealing ? AiM rules normally suggest no dealing by Directors and PDMRs in the 30 days before results issued.
Suggest their corporate governance is pants too - Directors are normally expected to get the permission of the Chairman before any dealings are undertaken.
Company rapidly becoming a bargepole.|
|Lord David Evans is 74 and has worked in media and publishing for 55 years. He has been involved with AVO since its Care Capital days and has also been deeply involved in cancer charities. Perhaps he felt he had done enough and it was time to put his feet up.|
|Must admit, the time lapse in reporting surprised me.
'A director of a fully listed company is obliged to notify their company of any dealing in its shares within four business days, and the company must pass that information to the market by the end of the following business day.'
I wonder how many 'business' directors we have, rather than medical and technical.
Hopefully we're due another BRR interview soon. They will be able to reiterate their commitment to Q2 2017 and hopefully also tell us that testing is complete. If Thales are going to be building the modules that will go into Harley Street, surely these will also need to be tested before use. (I can't recall where I read that - so take it with a pinch of salt).|
|If he isn't going, then he should be pushed. Even for an NE, still dodn't look good not promptly informing. Maybe especially for an NE!|
|Might be nothing in it (I note his wiki page lists AVO as a previous position) so maybe he resigned and wanted out. Next question is why have the company not RNS'ed that?|
|someuwin. I don't see it as making the sale any more significant. The first RNS was probably just an administrative error. While it might be interesting to know why he sold we will probably never be told and he is probably the only person who knows why he sold. Directors do sell share for personal reasons that have nothing to do with the company.
I would be more concerned if a number of directors sold. If I was worried about him selling, I know what I would do. But I'm not worried. Not at the moment.|
|I see they had to follow up with a replacement RNS to say that actually he had dumped the lot and no longer holds any AVO stock!|
|Well it's waving at me.|
|One director selling is not a red flag. He could have sold for any number of reasons none of which need have anything to do with the company.
The thing to look out for is a cluster of directors selling.|