Evgen Pharma Share Discussion Threads

[nobbygnome] 02/2/2021 19:01

No back in November I said the whole trial wouldn’t be recruited until at the earliest late Q1. That is a fact. Go and look!

[moneymunch] 02/2/2021 18:56

Jeez...Nob, give it a rest...turn over a new leaf FFS..you stated that the first 100 patients wouldn't be recruited until April and also blew a fuse at my reasonable suggestion that they might report interim results on the trial and are also on record that , regardless SFX-01 will never be approved for Covid-19...this is the Evgen thread where investors should be able to be optimistic about their investment, but that's not allowed if it doesn't fit your Gnome it all view of the World...Gla holders...can't wait for tomorrow's action!!! On and Up!!! :-)

[on target] 02/2/2021 18:51

Let's not forget Huw has performance related options over up to 3M shares over the next 10 years, so is well incentivised.I do wonder why he chose to buy such a paltry amount in the placing though. Is he that short of cash??

[nobbygnome] 02/2/2021 18:49

Double post

[nobbygnome] 02/2/2021 18:49

The post truth era is truly here. Even when presented with the direct evidence he can’t admit he is wrong!

[nobbygnome] 02/2/2021 18:48

So no contrition MM? You were wrong yet again!

[nobbygnome] 02/2/2021 18:47

So if end of Q1 is ridiculous, MM was guessing at the latest February!

[moneymunch] 02/2/2021 18:46

Who gives a toss...only those who don't hold shares I reckon...Gla holders...I wonder how many spread betters are still short???

[nobbygnome] 02/2/2021 18:45

The really funny part is I am probably going to be about right!

[nobbygnome] 02/2/2021 18:44

Ok on the 23rd November MM posted the contribution below. I had suggested end of Q1 was the earliest recruitment could be completed. MM says what a ridiculous statement and says it will be much quicker than that. Case proved!

Post no 5726
Nobby reckons that the 300 patients for SFX-01's Covid-19 patient trials won't be recruited until end of Q1 next year or later...ha ha ha...what a ridiculous statement....200 patients were recruited to Prof Chalmers Brensocatib Covid-19 trial between 1st and 15th November and he confirmed over the weekend that the end of recruitment is close for that trial ( also 300 patients), as well as results...and so recruitment for SFX-01's trial will be rapid imho, given the surge of new cases and especially patients will be enrolled regardless of testing positive or not...and so no shortage, and recruitment is planned over 10 trial sites, and so no bottlenecks.

[kingalf] 02/2/2021 18:36

The Directors are asking investors for 11 million pounds but are only prepared to invest £15,000 of their own money. Clearly believe in their product.

[moneymunch] 02/2/2021 18:30

Evgen Pharma raises funds to accelerate clinical and pre-clinical work

2021-02-02 16:05:00

The company said it has raised £10mln through a share placing and will aim to raise an additional £1mln through an open offer to qualifying shareholders

    

Evgen Pharma PLC (LON:EVG) said it has raised £10mln through a share placing that it said will be used to accelerate future clinical and current pre-clinical work across a range of projects.

The AIM-listed firm said it had raised the funds through the placing of 125mln new shares at a price of 8p each, a 14.4% discount to its closing price on Monday, adding that it will also provide an opportunity for qualifying shareholders to subscribe for up to 12.49mln new shares at the placing price to raise an additional £1mln.

WATCH: Evgen Pharma updates on the ‘STAR’ trial for Covid-19, Glioma research and key breast cancer drug

Evgen said the proceeds of the fundraising will be used to fund further preclinical work for metastatic breast cancer (mBC), glioma and a further cancer indication yet to be announced, as well as potentially providing funds for a clinical trial in glioma patients.

The firm said the cash is also intended to be used to complete the formulation and scale up manufacturing of its SFX-01 treatment for metastatic breast cancer, as well as complete all preparatory work to file an Investigational New Drug application in the US for the drug.

Additionally, the money will also be put towards funding the company’s operations to mid-2023, which will include the hiring of a chief business officer and a chief scientific and medical officer.

Meanwhile, Evgen said it is making “good progress” with patient recruitment for a Phase II/III randomised, placebo-controlled STAR-COVID 19 trial, which so far has recruited 89 patients.

"This heavily oversubscribed fundraising is transformative for us and allows us to accelerate both our future clinical and current pre-clinical work dramatically, together with expanding our senior management team to support our growth”, Evgen chief executive Huw Jones said in a statement.

“We are very pleased with recent progress of our work on SFX-01 and are most grateful for the support shown in this placing by existing shareholders. The Placing also brings a number of new, high quality shareholders to our register and we offer a warm welcome to them as we accelerate our progress in a range of cancers and acute respiratory distress", he added.

[albert arthur] 02/2/2021 18:28

Great day. Oversubscription saw positions added to. Nice dip for a quick dip for Topup.

[amaretto1] 02/2/2021 18:24

Anyway stop the bickering :-) The market clearly likes it !!

[moneymunch] 02/2/2021 18:14

The following speaks volumes imho...followed by his anger at my suggestion that Evgen might report early/interim results on the Covid trial...ha ha ha ...:-)


Nobbygnome

19 Sep '20 - 09:00 - 3773 of 5870



>> MM

I haven't laughed so much for ages. SFX-01 a competitor for SNG001? That is such a completely ridiculous statement. I will put my head above the parapet and say that IMHO SFX-01 will never be approved for use in Covid 19 patients.

Meanwhile SNG001 easily has the best data in Covid 19 patients from a placebo controlled trial......

[kingalf] 02/2/2021 18:08

nobbygnome, I think the Directors inaction in participating speaks volumes.

[lovewinshatelosses] 02/2/2021 18:08

on target - no, I do not think you can, but your broker should be able to advise on this. As it is already in a tax efficient wrapper, I also do not think the EIS aspect is applicable either, but check with your accountant, of course.
To those who took an almost aggressive approach to anyone who pondered whether or not a fundraise might be in the background over the past month or so, making accusations that such people were trying to undermine the company or 'de-ramping' - you should be ashamed quite frankly - but of course you will not be. I would be embarrassed to carry on in such a fashion, but each to their own. It is one thing to voice an opinion and be proved wrong (who cares - these boards are for discussion and to share ideas) - but some of it has just been plain nasty.
Now, to the raise in question. Big dilution and as another poster suggested, at a price that soaks existing holders but maybe offers a great deal to newbies. I too would like to have seen far bigger uptake by the BOD, but hopefully the market will finally give us the uplift to a market cap far more appropriate for where we are as a business, with a very decent cash runway now too. Given what we have seen with a lot of similar small caps that have undertaken the same path, a doubling from the 8p mark would not be too surprising. Perhaps even up to 20p on no news even.
All that said, I am really glad I did not add further the other day, so I do have sufficient funds easily available now to do take up my allocation, if I so choose.

[moneymunch] 02/2/2021 18:02

That's priceless coming from you and also a total lie...show me the post from December where I suggested that the trial would be complete by February...Gl :-)

Ps I take it you're going to hate any good news on the Covid trial...ha ha ha ;-)

[on target] 02/2/2021 17:55

Nobby is no doubt a bit peeved that he only holds 165k shares here, and I imagine will be looking to up his stake significantly now.

[moneymunch] 02/2/2021 17:46

There there Nobby, I said that if they did then they would have to drastically change their business model, and they have...I'm also on record that they were likely to recruit the first 100 patients by February, several months before your expert opinion suggestion on likely timings....Evgen are gearing UP from small cap to mid cap...and we've got a very exciting period ahead and a clear runway for Transformational upside...the market loves it!!! :-)

[on target] 02/2/2021 17:43

The majority of my holding is in a (fully subscribed) ISA, with a much smaller amount in a normal investment account with the same broker. Anyone know if I'll be able to take up the full offer for both holdings with cash in the investment account? I'm guessing not..

[nobbygnome] 02/2/2021 17:37

But you said only 2 days ago there wouldn't be a fund raising......and now you expect us to believe your ramping statements! Ho hum....