Alizyme Share Discussion Threads

[dunderheed] 06/7/2009 07:10

Yep good news - as first forecast by me I think!
Now we need to know how much money he was 'compensated' with?
If he took a large wedge - serious questions need to be asked.

[mad mike] 06/7/2009 07:03

Bye, bye, Timmy. You really deserve to be gone. Pity it wasn't over two years ago.

So much for your 'guarantee', and other false promises. Not so much "off to the races", more like stuck back in the stables!



~~~~~~~~~~~~~~~~~~~~~~~
Board Change (Alizyme)

RNS Number : 1396V
Alizyme PLC
06 July 2009

+-----------------------+-------------+
| For immediate release | 6 July 2009 |
+-----------------------+-------------+

ALIZYME PLC

BOARD CHANGE

Cambridge UK, 6 July 2009: Alizyme plc (LSE:AZM) announces that as part of the
reconstruction of the Company going forward, Mr Tim McCarthy stepped down as
Chief Executive Officer and resigned as a director of the Company on 3 July
2009. During this period of ongoing reconstruction, Mr Alan Goodman will take
charge of the day to day affairs of the Company.


Commenting on today's announcement, Alan Goodman said:

"On behalf of the Board, I would like to thank Tim for his commitment and
immense contribution to Alizyme from its inception and wish him every success
for the future."


Ends


For further information, please contact:
+--------------------------------------+----------------------------+
| ALIZYME PLC, Alan Goodman, Director | Tel: + 44 (0) 1223 89 6000 |
+--------------------------------------+----------------------------+
| BUCHANAN COMMUNICATIONS . . . . . . .| Tel: + 44 (0) 20 7466 5000 |
| Lisa Baderoon . . . . . . . . . . . .| Tel: + 44 (0) 77 2141 3496 |
+--------------------------------------+----------------------------+


Further information on Alizyme can be found on the Company's website:
www.alizyme.com

This information is provided by RNS
The company news service from the London Stock Exchange
END

[vow] 05/7/2009 23:53

23 days left of this post 5 times a day.

[city chappy] 05/7/2009 20:31

silver

If they are going to issue more stock, they may need to have it approved by shareholders, so it would probably have to be in the voting papers sent out at least 21 days before the AGM on 29th July. So there could be some info on that option by the middle of next week.

It seems at least a sensible thing to make a provision for incase they cannot deliver another preferred option in time. It is definately in the interests of major shareholders like Pru and Gartmore to protect their investment by helping out if necessary - partucularly as there should be big upside from the Phase 3 Cetilistat Japan results next year.

Either way there remains at least ten possible options as follows, with the most preferable first:


1. Rest of world deal for Cetilistat* or ATL-104.
2. AZM renegotiate terms with ColalPred partners (e.g. to suspend obligatory payments to partners until a deal for Cetilistat rest-of-world, or Phase 3 Cetilistat Japan reports in 2010).
3. Short-term warrants exercisable after 30/6/2009 and medium term warrants.
4. AZM give ColalPred partners to whom they have funding obligations shares in AZM instead of cash.
5. Placing at a premium to the prevailing market offer price.
6. Placing at the prevailing market offer price.
7. Placing below the prevailing market offer price.
8. AZM sell their portion of the ColalPred rights to one or more of the Colal partners.
9. AZM give their portion of the ColalPred rights to one or more of the Colal partners to whom they have funding obligations.
10. Agreed take-over.


Or a combination of 1 to 9.

And it makes investment sense to help to keep the Company going at least until the Phase 3 Cetilistat Japan results next year, or a rest-of-world deal for Cetilistat.

*
It seems Alizyme have moved forward on a rest of word deal for Cetilistat because in the last three months they have changed the wording in news announcements from "discussions ongoing" to "negotiations are progressing":

Preliminary Results, 23 March 2009:

"We have a number of discussions ongoing with potential commercial
partners for territories outside of Japan where the opportunity for additional
revenue streams for cetilistat is significantly greater".

Interim Management Statement, 19 May 2009:

"Negotiations are progressing with potential partners to license cetilistat for territories outside of Japan".

[dunderheed] 05/7/2009 19:06

I'd imagine he already has been?!

[silverbackalpha] 05/7/2009 17:54

AG sure has his workcut out. Over the next few weeks he is probably going to be out and about frantically looking for some funding.

[vow] 05/7/2009 14:12

I was referring to Qaz's need to keep the market informed of their ongoing assumptions. The interim reiterated the reliance on the assumptions and also put in a link to the expected Takeda results which were unknown before.

Hence why this latest RNS was not a run of the mill normal update as he is trying to make out.

Personally I don't know how he is trying to put a spin on a "don't know if we will be here in 2 months statement" but he is trying.

[capricious] 05/7/2009 14:09

Hmm, what about a pi led buy-out!

[dunderheed] 05/7/2009 14:08

VOW - no it didn't - this was highlighted very specifically in the 2008 results - I assume you missed the importance of this and cannot under-stand why?
Actually what was written in the ims was of no difference whatsoever to what was written in the 2008 results - however was highlighted in different manner - that is all!

[capricious] 05/7/2009 14:05

My hope is the company doesn't move to private hands - it would be really galling, after all this time and seemingly at the last hurdle, the ordinary share holder loses out on the product/s reaching the market, only to have some private group picking it for beer money! If financing is stumped up from somewhere, maybe the institutional investors will insist on no pay for the remaining team, until licensing deals materialise...

[vow] 05/7/2009 12:33

Yes that was the interim statement which first highlighted their money worries.

[city chappy] 05/7/2009 12:23

I am making some slight revisions to Points 2 & 3 of the list of options, with the most preferable first, and the other info, as follows:


1. Rest of world deal for Cetilistat* or ATL-104.
2. AZM renegotiate terms with ColalPred partners (e.g. to suspend obligatory payments to partners until a deal for Cetilistat rest-of-world, or Phase 3 Cetilistat Japan reports in 2010).
3. Short-term warrants exercisable after 30/6/2009 and medium term warrants.
4. AZM give ColalPred partners to whom they have funding obligations shares in AZM instead of cash.
5. Placing at a premium to the prevailing market offer price.
6. Placing at the prevailing market offer price.
7. Placing below the prevailing market offer price.
8. AZM sell their portion of the ColalPred rights to one or more of the Colal partners.
9. AZM give their portion of the ColalPred rights to one or more of the Colal partners to whom they have funding obligations.
10. Agreed take-over.


Or a combination of 1 to 9.

And it makes investment sense to keep the Company going at least until the Phase 3 Cetilistat Japan results next year, or a rest-of-world deal for Cetilistat.

*
It seems Alizyme have moved forward on a rest of word deal for Cetilistat because in the last three months they have changed the wording in news announcements from "discussions ongoing" to "negotiations are progressing":

Preliminary Results, 23 March 2009:

"We have a number of discussions ongoing with potential commercial
partners for territories outside of Japan where the opportunity for additional
revenue streams for cetilistat is significantly greater".

Interim Management Statement, 19 May 2009:

"Negotiations are progressing with potential partners to license cetilistat for territories outside of Japan".

[city chappy] 05/7/2009 12:15

vow it is quite normal to regularly update the market after the type of Annual Results published on 23/3/2009 regardless in this case of whether they are making progress on negotiations for a r-o-w Cetilistat deal which they seem to be doing, or other ways forward.you should know this..

[vow] 05/7/2009 11:48

You are mad! There must be only 20 people still reading these threads and 7 are you!

Most likely outcome they will try to raise funds in the next 3 weeks that is in black and white.

A company NEVER makes statements like they just have if they are trying to negotiate, so reading between the lines they are no closer imo.

[chronicler] 05/7/2009 11:38

VOW

Its there in black and white in Alizymes news announcements.

There does seem to have recently been material progress on a r-o-w deal for Cetilistat.

Alizyme never used the words "negotiations are progressing" in relation to Cetilistat before 19/5/2009; it was always previously something like "discussions" and "ongoing" (I have checked back).

So it looks as if a Cetilistat rest of world deal is close but anyway, as City Chappy pointed out there are at least ten possible ways forward, and I see you now at least consider it is likely they will raise funds.

My only surprise is you continue to be preoccupied with someone called QAZ and were not able to come up with the kind of comprehensive list of options complied by City Chappy, myself and others which suggests to me you know very little about the Financial world.

[dunderheed] 05/7/2009 11:22

VOW - don't get me wrong however take it as a 'compliment' I was arguing with you. Some of the items posted above by whoever (looks suspicious to me) do carry some weight - but I think are over optimistic - they also carry a certain stamp which others recognise quite quickly - hence choose to not converse that much at all with them.

[chronicler] 05/7/2009 10:20

VOW
Tim McCarthy recently mentioned in a webcast Q&A (I think on 23/3/2009) that some (not all) of the possible partners had dropped out of Cetilistat deal discussions and that is what Charles Stanley seem to have picked up on - but that webcast was before Alizymes anouncement on 19/5/2009 that

"Negotiations are progressing with potential partners to license cetilistat for territories outside of Japan".

So Alizyme still seem to be in negotiations with someone and those negotiations are progressing.

Tim also mentioned in the same webcast there had been new licensing interest in Cetilistat since it passed the long-term Phase 2 trial in Japan last year and Takeda moved into Phase 3. Also Charles Stanley did not say ALL potential partners had ceased discussions.

For clarification my main interest here remians Cetilistat Japan which reports Phase 3 next year and could make the company.


PS
Your post 22746 mentioned the additional interest in Cetilistat which we all heard in the webcast:

VOW - 23 Mar'09 - 10:56 - 22746 of 23859

Frustration at a high with all the same questions that we all have. Trying to look on the plus side points listed, most important to me is the first point about Takeda timescales.

So Takeda could announce within then next 12 months, 12 month trials plus 3 months analysis from December 2008.

Cetilistat. "A way down the line", "past due diligence".

New deals are there to be signed with significant revenues on all three products.

Enough cash to March, April 2010 with assumptions of incoming milestone payments.

Potential partners are interested in "safety profile" of Cetilistat.

New potenital partners in the frame in reporting period, some previous potentials have fallen out.

So Cetilistat on the market in Japan H2 2010? European filing of Cola Pred to release the next milestone, but we don't know what level.

[chronicler] 05/7/2009 09:25

VOW
Tim McCarthy recently mentioned in a webcast Q&A (I think on 23/3/2009) that some (not all) of the possible partners had dropped out of Cetilistat deal discussions and that is what Charles Stanley seem to have picked up on - but that webcast was before Alizymes anouncement on 19/5/2009 that

"Negotiations are progressing with potential partners to license cetilistat for territories outside of Japan".

So Alizyme still seem to be in negotiations with someone and those negotiations are progressing.

Tim also mentioned in the same webcast there had been new licensing interest in Cetilistat since it passed the long-term Phase 2 trial in Japan last year and Takeda moved into Phase 3. Also Charles Stanley did not say ALL potential partners had ceased discussions.

For clarification my main interest here remians Cetilistat Japan which reports Phase 3 next year and could make the company.


PS
Your post 22746 mentioned the additional interest in Cetilistat which we all heard in the webcast:

VOW - 23 Mar'09 - 10:56 - 22746 of 23859

Frustration at a high with all the same questions that we all have. Trying to look on the plus side points listed, most important to me is the first point about Takeda timescales.

So Takeda could announce within then next 12 months, 12 month trials plus 3 months analysis from December 2008.

Cetilistat. "A way down the line", "past due diligence".

New deals are there to be signed with significant revenues on all three products.

Enough cash to March, April 2010 with assumptions of incoming milestone payments.

Potential partners are interested in "safety profile" of Cetilistat.

New potenital partners in the frame in reporting period, some previous potentials have fallen out.

So Cetilistat on the market in Japan H2 2010? European filing of Cola Pred to release the next milestone, but we don't know what level.

[dunderheed] 05/7/2009 09:11

VOW,

1. this is Charles Stanley analyst opinion only - do you think he is privvy to inside info - a bit like your cosy chats with the Tim - that kept you holding the shares for so long!!
2. I think that the most interesting words change was recently from discussions to negotiations - I do not believe my inferance to be correct now - and I think the Timiny was very naughty for agreeing that subtle word change.
3. I believe azm does have a future - however will only be investing further if I hear the Tim has been summarily sacked - I believe he deserves that at best and hope he has difficulty sleeping at night after all his cosy off the record chats with PI's - somehow though I do not think he will have any difficulty in sleeping.