Evgen Pharma Share Discussion Threads

[clocktower] 09/2/2024 12:12

Good Luck Wololol - you have had a few bummers but your faith in this has really been tested.

[clocktower] 09/2/2024 12:12

double post error

[tomboyb] 09/2/2024 12:09

Juvenescence exited -

Now it does not look good with Stalicla -

Management refuse to buy equity -

[hatfullofsky] 09/2/2024 11:57

I helped myself to a small top up to take advantage of the inevitable bounce when they receive the funds.

[hatfullofsky] 09/2/2024 11:56

So many disappointments with EVG but this is clearly on Stalicla.

One plausible scenario is that Stalicla didn't have the funds for the payment end of last year, agreed with EVG to delay until a fundraise was completed. Fundraise now complete and Stalicla were still dragging their heels, so EVG forced their hand.

This does not look good for Stalicla (or EVG) who would want to work with Stalicla if they renege on agreements.

[wololol] 09/2/2024 11:50

Sold out. I think it's over. All the best to everyone else holding. Such a shame.

[clocktower] 09/2/2024 11:50

Where is Wololol or markth126 - are they in shock or had they already exited?

[clocktower] 09/2/2024 11:43

I agree with you pre & tomboyb.

As you say how can they move forward, and why would Staliicia wish to do so with a partner that they have a serious dispute over funds with.

[tomboyb] 09/2/2024 11:32

If there was significant potential that payment would surely have been made considering the partner recently raised -

Lets see if management buy at these levels -

Too many excuses -

[pre] 09/2/2024 11:32

not good, avoid paying and relationship will be difficult to maintain and could get costly if dispute lingers on. Adverse cash runaway impact quite possible going forward.

[clocktower] 09/2/2024 11:31

Surprising considering what Stalicia had posted on their website about progressing to the next phase.

[clocktower] 09/2/2024 11:28

Stuffed for a second time here but I only have myself to blame.

[bones698] 09/2/2024 11:26

Sounds like a poor choice of partner that are either low on cash or think they can get away without paying . Either way it doesn't make for a good relationship and now looks like a duff deal that will be messy and costly if they pursue it

Dave your a bit of a jinx lol

[xxproinvestorxx] 09/2/2024 11:24

Shocking news. Why have Stalicla not made the payment?

[dave4545] 09/2/2024 11:13

Think I'm going to give up investing, get in get out sleep well

[tomboyb] 09/2/2024 11:09

09/02/2024 11:01am
RNS Regulatory News


RNS Number : 5388C
Evgen Pharma PLC
09 February 2024

Evgen Pharma plc

("Evgen" or "the Company" or "the Group")



Notice of Dispute lodged with Stalicla SA



Alderley Park, UK - 9 February 2024: Evgen Pharma plc (AIM: EVG, Evgen), a clinical stage drug development company developing sulforaphane-based medicines, has issued a notice of dispute with Stalicla SA (Stalicla) its partner in autism spectrum disorder (ASD) and other neurodevelopmental disorders.



In October 2022, Evgen licensed the global rights for lead asset SFX-01 in neurodevelopmental disorders and schizophrenia to Stalicla for up to $160.5m in milestone payments. An initial $0.5m was paid upfront with the next anticipated payment of $0.5m due on completion of the Evgen-sponsored human volunteer Phase 1 study.



The Phase 1b human volunteer study was completed and the clinical study report finalised in August 2023.



As announced on 16 January 2024, Evgen has been working with Stalicla on delivery of the associated milestone payment. The board of Evgen believes that the Company has met the terms required to satisfy the milestone, according to the License Agreement, and thus the payment is now due. In order to effect the payment, Evgen has taken the decision to formally implement the dispute resolution process detailed in the License Agreement, the first step of which is the issuance of a dispute notice.



As stated in the half year results in October 2023, Evgen has not anticipated any milestone payments from Stalicla in its financial forecasting and its cash runway remains unchanged.



Dr Huw Jones, Evgen CEO commented:



"We continue to work closely with our partner for a quick and amicable resolution of the current dispute. We have taken a prudent approach of not recognising any milestone income in our cash projections and therefore the cash position remains unchanged. In the meantime we continue at pace with our internal programmes in oncology which are proceeding to plan."

[tomboyb] 09/2/2024 11:08

That does not looking promising does it -

No wonder management did not buy any -

[clocktower] 07/2/2024 15:08

One small bottom fisher picking up 34k at 1.47 - they are still on offer at this price.

[clocktower] 07/2/2024 09:04

Not likely as they will not want to work themselves out of fat salaries, H Jones at around £350k plus the new CFO ???

[xxproinvestorxx] 07/2/2024 08:55

$10m upfront and up to $870m is a pretty big deal. Don't think we'd see anything like this for Evgen. UK small pharma seems unloved at the moment. This would be a great time for big pharma to go all out on acquisitions, I certainly would be prowling if I were a CEO with lots of cash to spend. What sort of deal would SFX-01 bring in for one of the cancer indications? I would imagine they would at least be equivalent to the deal with Stalicla. What would someone have to pay to buyout the entire company right now? A lot less than any deal I would imagine.

[wololol] 07/2/2024 08:29

Redx sold assets today good to see acquisitions in this sector.

[clocktower] 06/2/2024 16:26

Lets hope there is support at 1.40 or above again.

Once bitten I should have stayed away from this. Aghh....

[xxproinvestorxx] 06/2/2024 15:09

That would help a little, but what we need is news. Confirmation of the $500k payment from Stalicla would do for a few weeks and maybe an update on some of the pre clinical pipeline. The real news we need though, would be the application of IND, or, the unlikely event of a buyout offer.

[clocktower] 06/2/2024 14:39

Maybe the directors will shock us all and buy several million shares each any day now.