4d Pharma Share Discussion Threads

[lovewinshatelosses] 24/6/2022 18:30

Wow - did not expect OF to pull the plug. So much for that Merck special relationship too. The failure still very much sits with the BOD though. Terrible forward planning, among many other things.
Something stinks IMO. Will be interesting to see what happens with all that IP, especially if any of it ends up at the commercial stage. Come on Duncan! Last chance to salvage your reputation - put up the necessary finances yourself and get the show back on the road.

[tazerface] 24/6/2022 18:28

Game over hahaha mug punters wiped out

[jeanesy] 24/6/2022 18:28

A mid afternoon suspension is rearely good news. GLA those who are still in . I sold out for a big loss yday !

[dafad] 24/6/2022 18:27

Pharma PLC

24 June 2022

Update on Suspension of Trading

Leeds, UK, 24 June 2022 , - 4D pharma plc (AIM: DDDD, Nasdaq LBPS), a pharmaceutical company leading the development of Live Biotherapeutic products (LBPs), a novel class of drug derived from the microbiome, provides an update to the announcement released earlier today regarding the Company's request for an immediate suspension of trading in the Company's ordinary shares on AIM which took effect from 12.30 p.m. (London).

On 29 July 2021, the Company announced that it had agreed a senior secured credit facility (the "Facility") for up to US$30m with Oxford Finance LLC ("Oxford"), with an initial tranche of US$12.5 million drawn at closing and further tranches available dependent on the achievement of certain milestones.

The Board has been exploring opportunities to secure additional funding for the Company in recent months, however this has proved challenging but significant progress had been made, despite the very difficult prevailing market conditions. The Board had made Oxford aware of this and discussed a potential funding alternative on the evening of 23 June and on the morning of 24 June, Oxford demanded immediate repayment of the outstanding loans made to the Company, which currently total approximately US$13.86 million, inclusive of accrued interest and associated fees. The Company is not able to make that immediate repayment from its existing cash resources and with no immediate certainty of how that repayment could be made, the Board requested that trading in the ordinary shares be immediately suspended pending clarification of the Company's financial position.

Subsequent to the suspension, the Board was informed that Oxford had today instructed that the Company be placed into administration, in accordance with the terms of the Facility. Accordingly, James Clark and David Pike of Interpath Advisory have been appointed as joint administrators to 4D pharma plc (the "Joint Administrators"). For the avoidance of doubt, the following wholly owned subsidiaries of the Company have not been placed into administration: 4D Pharma Research Limited, 4D Pharma Cork Limited, 4D Pharma León S.L.U. and 4D Pharma Delaware Incorporated.

The Board intends to work with the Joint Administrators on proposals to rescue the Company as a going concern, albeit there can be no guarantee that this will be successful.

Further announcements will be made as applicable.

About 4D pharma

[yasx] 24/6/2022 18:27

Porky and Stoner tried to stonewall any reasonable assessment on her eof the Co's finances - both should be ashamed of themselves. in particular Sotner, who used to lambast me almost daily for mentioning the fact that the Co. would need to immediately raise funds by issuing equity and that it would struggle to raise sufficient funds.

Hang your heads in shame chaps.

As for others, well, until recent weeks many assumed (as did I) that given the optimism in the April results that they considered it likely to be able to secure funds through various mechanisms, it was not unreasonable to think that this was the case.

Obviously Duncan knew, at least earlier this week, that this was all twaddle and the game was up. I doubt any legal action achieves anything, but, if Duncan does emerge at any other listed outfit, please avoid like the plague. This has been an example of a Director out of his depth, with not a clue about running an outfit for commercial purposes. Andrew at AGL is demonstrating similar characteristics with his recent interview...

[purchaseatthetop] 24/6/2022 18:26

My guess is that Oxford Finance LLP sold the debt to another company who have now pulled the finance enabling them to pick it up for free. Been done before.

[bingothevandal12] 24/6/2022 18:25

Is that all?Double it.That's me on the wrong side of a motorway bridge later

[nigelpm] 24/6/2022 18:25

Yup - Oxford pulled the plug - I'm genuinely surprised at that but there you go - in black and white in the RNS.

[one_frankel] 24/6/2022 18:25

I think you and everyone else should, if anything just for blatant corporate incompetence and utter disregard for investors LoveWinsHatesLosses...

Tils is heading the same way Gooner!

[nigelpm] 24/6/2022 18:23

Yes - good advice here and perhaps treat posters who oppose and disagree with you with respect?

[williamcooper104] 24/6/2022 18:21

Not sure if you've got a good basis for a claim - having the company run by muppets isn't one Also if you do by the the legal fees are taken you'd likely get very little recovery from chasing individual directors For own mental health probably best to learn lessons and let it go

[devonlad] 24/6/2022 18:20

Cannot believe it!

[dope007] 24/6/2022 18:19

So more UK pioneering work will now be bought off the administrator for peanuts and likely taken abroad to be funded properly. Total loss for holders here in the UK once again sadly

[williamcooper104] 24/6/2022 18:18

Sorry for all holders AIM biotech - always should only invest what can cope with losing

[borris_johnson] 24/6/2022 18:17

I knew this pos will tank to pennies months back ☺️

[borris_johnson] 24/6/2022 18:17

Where is that idiot porky???? 😂

[lovewinshatelosses] 24/6/2022 18:16

What an unforgivable state to get the company into. And the cheek of those significant salary rises they sought too!
I suspect I am not the only one who has some thinking to do over the weekend. This represents an annoying, but not life-changing loss for me.
But it is enough for me to consider pursuing legal action potentially - especially if enough of us are willing to join forces to reduce the cost liability it may entail.
I cannot imagine how ashamed I would be feeling right now if I was Duncan and his fellow BOD's. Truly disgraceful.

[borris_johnson] 24/6/2022 18:16

AIM listed 4D Pharma PLC filed a Notice of Appointment to appoint an administrator in the High CourtToday 18:11





Oh dear oh dear u bloody fools 🥵🥵🥵🥵

[gooner1886] 24/6/2022 18:15

Duncan another faux aim ceo

[thefartingcommie] 24/6/2022 18:15

AIM listed 4D Pharma PLC filed a Notice of Appointment to appoint an administrator in the High Court today (24/06/2022). Greg Connell, Managing Director of InfolinkGazette, commented: “pharmaceutical companies can burn a lot of cash during the development of therapies; 4D ended 2021 with a P&L deficit of (£166,608,000) and a material uncertainty clause in the going concern assessment.”

[nigelpm] 24/6/2022 18:15

Absolutely - desperate times

[one_frankel] 24/6/2022 18:13

Yes, I've just seen it Nigel but its not as if it wasn't becoming incredibly perilous for the company as signs were clearly there and have been for a good period of time...Not only absolute short-sightedness but utter incompetence of management and they shouid be ba_rred from directorships period...

Its unfortuante here folks but I won't delve into your sorrows any further as I'm sure some are nursing some very significant losses.

[purchaseatthetop] 24/6/2022 18:09

Milliecusto. Complete losses. Not big ones. I hope fat Greek is up in others. Never bet the farm.