Advanced Oncotherapy Share Discussion Threads

[pyglet] 03/10/2016 11:52

The Company is mindful of the support of existing shareholders and is committed to allowing participation in an Open Offer with the same pricing as the Subscription. Details of the Open Offer will be announced over the next few weeks.

In May 2016, we announced that we had signed an agreement with a fund advised by Metric Capital Partners LLP ("Metric Capital"), a Pan-European private capital fund manager, to invest GBP24 million in a financing facility to support the Company's provision of vendor financing for the installation of our first LIGHT machine in Harley Street. This facility was conditional upon a future GBP25 million cash or capital injection to fund the development of a manufacturing base for the LIGHT system. As announced earlier this morning, the Company has agreed with Metric to waive this condition and to make the full GBP24 million financing facility available for drawdown, subject to completion of the Subscription and the implementation of an additional financing plan supported by banks and strategic partners which will not be dilutive to equity investors. Further details of this financing plan are expected to be announced by the end of the year.

[seans66] 03/10/2016 11:35

Does anyone know when we find out the details of the open offer?

[daijavu] 03/10/2016 09:28

Planning Committee meets to consider AVO application on the 18th October

[daijavu] 01/10/2016 12:33

IgbertSponk. Surely those letters were more for the benefit of the Planning Committee than to reassure residents.

[igbertsponk] 30/9/2016 11:41

Few more docs on the planning site trying to reassure residents. Bit late !

[smarm] 30/9/2016 11:19

How can anything be on track until they have planning permission?

[twirl] 30/9/2016 10:40

Feel let down somewhat. The Metric rns 250p placing condition waived and for some reason Metric have agreed to this, although it dilutes the potential value of their warrants and PIK. The reason for,the placing seems to be that at 30 June they were skint, as testing and development is costing more than planned, despite Serandour etc saying that there were enough funds to complete testing. So for the first time we have a divergence between plans and outcomes.

On the positive side it looks like there has been sufficient factory and testing progress for Metric to allow them to draw down the second and final tranche of £14m. Also we have achieved a placement with Directors putting money in. The investment and involvement by Miky is positive although I doubt £5m means a lot to her.

Can see no confirmation that Harley St will operate by end of 2017, although vague statement about "we are satisfied that progress for the new facility remains on track" – has this been pushed back without reference?

Uncertainty remains - about how much dilution will arise with the Open Offer, Harley St.(to be clear on 18th),testing, future borrowing to be announced by end of Dec and how long it will take to make the first machines and get some cash in.

Will I buy in the Open Offer - yes.

[adorling] 30/9/2016 10:06

If the qualifying date for the open offer is after today's RNS then we might begin to see some further buying to qualify. Will be good to see the first LIGHT system installed and treating patients!

[pyglet] 30/9/2016 08:08

Not worth selling at 100p when the board and others are buying at this price. Madness!

[altom] 30/9/2016 08:07

Someuwin. I think I got that wrong but the drop seems a bit fierce to me.

[someuwin] 30/9/2016 07:52

10 million shares at 100p.

17% dilution at a 13% discount.

Then there's the open offer to come too.

[altom] 30/9/2016 07:28

£10mill dilution when Mkt Cap is £66mill sounds pretty good news to me. Also there will be an Open Offer to PIs on same terms at later date.
Open hearing of planning committee on Oct18 will be massive. If that goes well and with this bullish update I hope to see share price up to £1.50ish.

[adorling] 30/9/2016 07:14

RNS reads well until this point....
" (i) a GBP10 million equity placing expected to be announced later this morning"
Wonder what price we will see for this dilution?

[pyglet] 29/9/2016 19:14

News in the morning hopefully.

[daijavu] 22/9/2016 18:14

ydderF>> The radiation therapy machines being referred to in the article must be photon therapy machines not proton therapy machines because existing proton therapy machines do not use linear accelerators. The only proton therapy machine that is based on a linear accelerator is AVO's LIGHT machine and that is not yet in use. I would expect that AVO is aware of the concerns and would ensure that there is not a similar problem with the computer system that controls the LIGHT proton beam.

In any case the problem is obviously down to computer programing not the technology. That ought to something that can be overcome.

As far as I can tell, the source of the LIGHT machine's proton beam is likely to be a laser beam that is passed through a substance that produces the protons. That would explain the fact that it travels in a narrow, highly focussed, straight beam that requires little shielding. It would also explain the modular construction and the low cost.

[twirl] 22/9/2016 17:13

ydderF>> Yes but the states will have to join the back of a long queue.

[daijavu] 22/9/2016 15:55

Regulatory approval normally takes a long time in the case of a new drug because there is so much that needs to be assessed and considered. Not least, does it work, how does it work and is it safe.

Proton beam therapy is a tried and tested treatment that has been around for very many decades and is known to work, it is known how it works and it is known to be safe. Even the LIGHT system seems to use a fair amount well established technology.

RA might be almost a rubber stamping process.

[igbertsponk] 22/9/2016 13:41

LOL - as if you don't know the answer to that question Trevor !!!
Wanting to buy a few are we ?

[pyglet] 22/9/2016 10:55

Half yearly update will be announced next week with an update hopefully on the planning permission.

[buying] 22/9/2016 09:16

Decided to get out of these yesterday as I can see sub one pound coming. Will jump back in on any substantial news flow, which is what this stock desperately needs.

[twirl] 21/9/2016 19:43

Makes sense luminoso if you are negative about the testing. I'm not and added at 100p and will do again if the opportunity arises.

An alternative view is that they would not make themselves a hostage to fortune and are confident that the testing will be successfully completed by the end of Dec as planned and then the purchase orders will flow from the 30+ LOI and prospect of cash.

Bearing in mind we shot to the equivalent of 400p on hot air last year I reckon the prospect of free proton therapy to London and Birmingham children will hit the headlines and take us to beyond 250p by next March.

After all we were 200p in June after the Metric rns.