Maxcyte Share Discussion Threads

[supernumerary] 02/5/2019 12:09

tim - did you ever produce those notes?

[timbo003] 25/4/2019 16:18

I was at a Maxcyte investor briefing earlier today at Panmure Gordon and I will be seeing Doug again at the Proactive investor meeting this evening, will try to write up a few consolidated notes sometime tomorrow.

[oshy92] 25/4/2019 11:07

Morning. Short TV interview with Doug Doerfler following yesterday's results:

www.fmp-tv.co.uk/company/maxcyte-investor-videos-and-news/

[supernumerary] 01/4/2019 18:25

Interesting results in hard to treat cancers emerging:

[supernumerary] 21/1/2019 16:15

For sure there'll be companies looking.

[edwardt] 21/1/2019 15:48

probably a takeover target right?

[supernumerary] 17/1/2019 20:47

In the absence of decisive information, I'm waiting...

[edwardt] 17/1/2019 17:24

all very exciting but as they are about to run out of cash - shall i wait to post raise to get onboard? new here so happy to be shot down...

[supernumerary] 21/12/2018 18:01

This one could run and run...



A new journal paper published late last week revealed that a “cutting” element of the CRISPR-Cas9 gene-editing technique could be under threat from the body’s own immune system.

The paper, published on bioRxiv (but as yet to be peer-reviewed), saw researchers undertake blood tests on a few dozen people. “The presence of pre-existing adaptive immune responses in humans to either Cas9 homolog may hinder the safe and efficacious use of the Cas9/gRNA system to treat disease, and may even result in significant toxicity to patients,” the study found.

This is because the most widely used homologs of the Cas9 protein are derived from the bacteria Staphylococcus aureus (S. aureus) and Streptococcus pyogenes (S. pyogenes).

[...]

[timbo003] 05/12/2018 09:28

New Trinity Delta research note out this morning





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[timbo003] 14/11/2018 12:16

New interview with Doug (from yesterday)

[timbo003] 14/11/2018 08:27

Maxcyte are getting a good bit of momemtum on new commercial licencing agreements

I know very little about Precison Biosciences or their ARCUS technology, but I see they raised $110m last summer and they have some big backers behind them

[turbocharge] 02/10/2018 12:48

Here’s what we know about CRISPR safety
(Published in Washington Post, Sep 2018)

[timbo003] 26/9/2018 16:03

Just out of a meeting with DD at the company's brokers. There were a only about 7 - 8 attendees, I found it very useful and it answered a lot of the outstanding questions,

The slide which came with the interims are here:



I will endeavour write up a few notes before the weekend

[timbo003] 20/9/2018 21:46

I've just been having a look at the CRISPR bellwether: CRISPR therapeutics (NASDAQ:CRSP).




The share price seems to be holding reasonably steady following the fall immediately after the Bradley revelations, Furthermore, they have just announced an underwritten $200m equity fund raise, so investor sentiment appears to be holding up, despite the potential problems.

[timbo003] 20/9/2018 21:11

I have managed to get an invite for the post results meeting next week to be held at PG's HQ on Wednesday, so I will definitely go along to that and ask Doug about the potential problems for their CRISPR technology posed by Badley et al

[supernumerary] 18/7/2018 20:55

tim - ref the announcement - I hadn't seen the ShareSoc presentation, only the one before, although I think it used the same slide deck and followed much the same script. You're right, I can't hear any confirmation that they had the IND approval, although the tone was one of relative certitude - I certainly put in my notes that they had it, but don't now know why. I was multi-tasking at the time, so maybe I just read something like your slide, without processing its header...

On the valuation, I can see why the US investors had reservations about the hybrid model. If they were selling machines and consumables at 90% margins, that would be a great business, but ultimately limited in scope - there are only so many research establishments to sell to, R&D would be a continuing high cost, somebody else's invention might rapidly erode their business etc. But in the meanwhile, very attractive, and what the analysts are currently trying to value.

On the other hand, a new approach to CAR-T that successfully tackled a range of solid tumours could be a game changer with a valuation in the billions of dollars. Sadly, though, CAR-Ts have not been without their problems, and there's a serious risk of huge costs for large trials, followed by total failure.

The potential investors want one or the other (their portfolios are externally diversified), but the guys who run the business want them both (for obvious reasons associated with paying monthly bills!) so the business that's currently being valued by Trinity is really just a backstop - my reading is that what Doerfler is aiming for is a generous buyout - he certainly makes great play of the deals for Juno and Kite etc.

That's not going to come from selling razors and blades, no matter how successfully - it has to be either the Carma or the gene editing, or both, that justifies it. So the investment case for a PI seems to me to rest more on the potential than on the actual business (it is AIM, after all ;¬)) and to understand that it's important to track what's going on in the wider environment.

If for instance, as an extreme case, the FDA were to block all further testing of CRISP-R gene editing therapies pending resolution of the issues raised in the Bradley paper, I would certainly reduce my estimation of the likelihood of a sumptuous buyout for Maxcyte, and with it my interest in investing. Others may well disagree. Fair enough, that's what makes the market...

[timbo003] 18/7/2018 09:47

>>>supernum

Agreed, if CRISPR fails it would not bode well for Maxcyte's other Cas9 gene editing activities in the long term, but given that their current activities in the gene editing area are assigned zero value, it should not make a lot of difference to analyst valuations in the short term.

I'm not sure Maxcyte confirmed anything about IND approval before the RNS release on Monday, I cannot see it on the slides used last week although it was listed in the expected news flow (see copy of slide below), also I do not remember Doug saying they already had IND approval, but I do recall he said that they were still waiting for approval in answer to one of my questions (I think that was at the Proactive one2one meeting on Thursday)

[supernumerary] 17/7/2018 23:44

The IND approval was announced in the presentation, ahead of the RNS - not the way to do these things.

I see there are more doubts about CRISPR: note in particular the reference to Vertex and scd:

Not sure how much this might affect Maxcyte, but it's likely to lengthen the timescales for approval of any CRISPR-based therapy, which will delay at least part of their anticipated revenue streams.

This is what Trinity Delta said about their CRADA with NIH for sickle cell:

'The second CRADA deal with the NIH highlights MaxCyte’s leading position in the field of gene correction using CRISPR, and the importance of its flow electroporation technology for CRISPR therapies.

In the short term, it will have a limited impact on MaxCyte’s financial performance. However, this agreement will help to cement MaxCyte’s expertise in flow electroporation as being a key enabling technology for CRISPR therapies; this should increase mid-long term revenue opportunities as more companies buy licenses to use its instruments, and from the potential partnering of the SCD programme.'

If CRISPR fails, this will also fail, although in the short term, as companies investigate the technology, it might actually increase revenues. Hard to predict.

[timbo003] 16/7/2018 09:22

Busy day today:


* Trading update

* IND approval

* New video (ShareSoc)

* New Trinity delta research note:

[tomps2] 16/7/2018 07:42

To go with today's trading update, here's the presentation given by Dough Doerfler at ShareSoc last Wednesday 11th July.

MaxCyte (MXCT) presentation at ShareSoc July 2018

Driving the next generation of cell-based medicines
By Doug Doerfler – Founder, President & CEO



Introduction – 00:23
Background and what MaxCyte does - 02:41
Business model – 04:11
CARMA platform, CAR therapy in oncology - 09:07
Cell therapy programmes – business model – 16:12
Revenue potential across multiple applications – 19:15
Expected news flow - 21:36
Summary & outlook – 22:18
2017 financial highlights - 22:50
Q&A - 23:45