Antisoma Share Discussion Threads

[gnomet2] 25/1/2008 16:49

the_doc - well they've undertaken a sizable phase2 trial in AML with their 411 drug and about to start another phase 2 with their third line drug, but those costs will be offset by an approx 12 mill quid development payment from Novartis when it starts the phase3 lung cancer trial.

[zagrem] 25/1/2008 16:32

Dave Nic,just read the full article in I.C, the interesting thing is that once again it's mentioned along with half a dozen or so bio-techs, on the theme that the sector is bomb-out and could bounce. All suggests again, that i sense there is a wind of change blowing on opinions for sector and the press are latching onto it for 2008.

[damian] 25/1/2008 16:22

gnomet

I wish now that would be a no brainer !.

[the_doctor] 25/1/2008 16:21

Thanks
I dont know the details, but it did sound odd.
From memory, they must still have a fair old cash pile?

[gnomet2] 25/1/2008 16:20

damian - hah! it sure would be cheap if they really did have 50p/share cash!!

[gnomet2] 25/1/2008 16:06

It's the 50p cash bit that's utterly wrong - maybe they were counting the conditional development milestone payments.(EDIT - and for all the possible indications at that!)

Novartis are covering all the ASA404 development.

[damian] 25/1/2008 16:02

t_d

imho post 634 is correct cheap for the potential !.

[the_doctor] 25/1/2008 15:53

In which respect? Its also the ovarian results that put a dampner on hopes IMO.
Is the 50p/share cash bit right?
How much of that do they have to spend on ASA404 PIII, if any?

[gnomet2] 25/1/2008 15:52

They are just plain wrong, and it's disgraceful journalism if that's really what they said ! DYOR

[davenic] 25/1/2008 14:00

Well done Dave....

[davidbennett] 25/1/2008 13:42

Ok so to clear this up, I've just been down to WH Smith and stood there typing the article into my mobile phone.... got some funny looks!

Here's what it says:

Antisoma's recent setbacks are overshadowed by the company's deal with pharmaceutical giant Novartis, which is worth up to $890m. It's lead product ASA404, is a vascular disrupting agent that can be used to treat a number of different cancers. The product was licensed in April last year to Novartis and is now ready to enter Phase III trials in lung cancer.

Other indications may follow, but investors were disappointed when the company indicated that the results of tests for the efficacy of its hormone-refractory prostate cancer were poor. This highlights the company's reliance on further success in its lung cancer treatment.

Although there is a key product risk, the company is well funded with cash of about 50p a share, which exceeds its current share price of 24p. The market is not only undervaluing the AS404 lung indication, but also attributing nothing for other indications of the drug ans the rest of the product pipeline.

[dasv] 25/1/2008 13:35

446.539m shares
Market Capitalisation GBP 106.053m at share price 23.75GBX (24 January 2008)

They have £51.414m cash as of June 2007.

I don't know how much they have spent since then - new offices in the US may have used some budget but probably not significantly.

On this basis - the business itself minus the Novartis cash injection is valued at £54.639m or 12.2p per share. Which seems pretty cheap.

Out of fashion sector. Will come back in to fashion at some point and the patient will clean up...

[gnomet2] 25/1/2008 13:01

"Cash equivalent" of 50p a share is misleading, though the more optimistic dcf
forecasts are about that.

[davenic] 25/1/2008 09:28

sorry DB I was just passing WH Smith & stuck my nose in just to read that I didn't buy it but I can say it was all positive & once again saying very undervalued.

[davidbennett] 25/1/2008 09:21

DaveNic

Nice one.

Any chance of posting the full article...can't be bothered to go to WH Smith....

Cheers!

[davenic] 25/1/2008 09:11

Write up in I/C today basically saying how undervalued these are & have cash equalivant to 50p per share...

[bluechef] 23/1/2008 22:13

Been here well before the last drug failure, stayed in then and held 3/4s of holding at 60p. Should have released more, but there you go. This is well marked down scruff as you know. Hopefully there will be some upside to come.

[scruff1] 23/1/2008 20:25

Dave
you an others been posting that since 60p !
An blue
Why? what's about to break!

[davenic] 23/1/2008 14:34

pickup once the markets do

[bluechef] 23/1/2008 14:17

Thought there may be a few mopping up at these levels?

[1leigh] 23/1/2008 12:41

ADT Prostate Cancer treatment worsens other conditions :

[zagrem] 21/1/2008 11:16

Guys if you want there's buying opportunities at the moment, whole sector being marked down. Personally i'm still waiting, if it goes lower might add, seems odd to say, but also equally happy to buy as it goes higher, as then there will be confirmation we are back in play.

To me there's a longer term 2008 story and it's only just showing the first hand with talks of sector consolidation. I've now found about 4 articles alluding to this since Jan 1. This tells me the story is developing. Watch this space, no need to ramp here, others will come on board and do that later.

Did like the comment Novartis have only contributed what ammount to a xmas pudding so far in the latter article L.o.L

[davidbennett] 21/1/2008 10:29

Managed to top up @ 25p.

All I would like now is a swift move away from 25... up to 30 would do for starters!