Puretech Health Share Discussion Threads

[volvo] 04/6/2020 16:54

Gelesis ipo

[nimbo1] 04/6/2020 09:31

There is selling pressure from some institutions imo - things changing at invesco and Jupiter - managers sacked / mandates changing. Medium term this will double...just need to be patient and ignore the short term price action and follow the director buys!

[volvo] 04/6/2020 09:23

lol, good buys.

Thought this would be take off day. Upward pressure is building and the cash is in the bank/shares, $840m.

Can see a fast retrace to 350p.

[nimbo1] 04/6/2020 09:06

it was me...so don't get too excited! I think there is an institutional overhang - needs a big print at some point.

But I really don't see why this is so unloved!

[volvo] 04/6/2020 08:59

...at last someone just jumped the gun and bought 20k at 270p, could end over 300p this week imo.

[nimbo1] 04/6/2020 08:56

just picked up a few more

[volvo] 04/6/2020 08:41

Like the last line from Stockmarketwire....and the shareprice is up 0p

Very good news on Gelesis and Follica and Karuna tipping $100...whats it going to take?

Nasdaq listing and new investors I guess. Our brokers should be banging the drum too Liberium, Peel Hunt and Jefferies...presentation there today btw.

[volvo] 04/6/2020 08:31

Follica news today

PureTech Health PLC Positive FDA Feedback on Follica
04/06/2020 7:00am
RNS Non-Regulatory

TIDMPRTC

PureTech Health PLC

04 June 2020

4 June 2020

PureTech Health plc

PureTech Founded Entity Follica Announces Positive Feedback from FDA as it Prepares to Advance its Lead Programme in Male Androgenetic Alopecia into Phase 3 Development

Follica plans to initiate its Phase 3 programme this year

PureTech Health plc (LSE: PRTC) ("PureTech"), a clinical-stage biotherapeutics company dedicated to discovering, developing and commercialising highly differentiated medicines for devastating diseases, is pleased to note that its Founded Entity, Follica, today announced positive feedback from an End of Phase 2 meeting with the US Food and Drug Administration (FDA) for its lead programme to treat male androgenetic alopecia. The company plans to advance the programme into Phase 3 development this year following the successful safety and efficacy optimisation study announced in December 2019.

Bharatt Chowrira, JD, PhD, president and chief of business and strategy at PureTech, said: "This positive feedback from FDA enables Follica to move forward with its pivotal trial this year. Current treatments for the progressive hair loss caused by androgenetic alopecia are inadequate, and we are pleased with Follica's progress towards Phase 3 development, bringing us another step closer to a potential new treatment for the millions of people seeking safe, effective, non-surgical treatments to grow new hair."

The full text of the announcement from Follica is as follows:

Follica Announces Positive Feedback from End of Phase 2 Meeting with FDA for its Lead Programme to Treat Male Androgenetic Alopecia

Company plans to initiate its Phase 3 programme this year

BOSTON, June 4, 2020 -- Follica, Inc. ("Follica"), a biotechnology company developing a regenerative platform designed to treat androgenetic alopecia, epithelial ageing and other related conditions, today announced positive feedback from a meeting with the US Food and Drug Administration (FDA) as the company prepares to advance its lead programme into Phase 3 development following a successful safety and efficacy optimisation study for the treatment of hair loss in male androgenetic alopecia announced in December 2019.

Follica plans to launch its Phase 3 programme this year. Overall, approximately 280 patients will be enroled, with efficacy assessed against two co-primary endpoints: visible (non-vellus) hair count and patient-reported outcomes on a pre-established scale. The randomised, controlled, double-blinded studies will be conducted in multiple centers across the US. A maximal use study to further understand the pharmacokinetics of the treatment will be conducted in parallel. The trial design is consistent with feedback from the FDA during the End of Phase 2 meeting.

"In the US alone, 47 million men are affected by progressive hair loss caused by androgenetic alopecia, a condition that is largely unresolved today, leaving many dissatisfied with the current available treatments and looking for a new alternative. Our recent safety and optimisation study points to a new level of effect, enabled by our proprietary approach, which stimulates the growth of new follicles and new hair," said Jason Bhardwaj, chief executive officer of Follica. "We're grateful to the FDA for their guidance as we prepare for our pivotal programme, and we look forward to advancing the development of our treatment regimen, which has demonstrated strong potential to address the current need for those who seek treatment for androgenetic alopecia."

Follica's approach is based on generating an "embryonic window" in adult scalp cells via a series of short office-based treatments with its proprietary Hair Follicle Neogenesis (HFN) device. The scalp treatments, which last just a few minutes, stimulate stem cells and enable the growth of new hair follicles. A topical drug is then applied to enhance efficacy by growing and thickening new hair follicles and hair on the scalp.

Follica reported topline results from its safety and optimisation study in December 2019. That trial was designed to select the optimal treatment regimen using Follica's proprietary HFN device in combination with a topical drug and successfully met its primary endpoint. The selected treatment regimen demonstrated a statistically significant 44% improvement of visible (non-vellus) hair count after three months of treatment compared to baseline (p < 0.001, n = 19). Across all three treatment arms, the overall improvement of visible (non-vellus) hair count after three months of treatment was 29% compared to baseline (p < 0.001, n = 48), reflecting a clinical benefit across the entire trial population and a substantially improved outcome with the optimal treatment regimen. Additionally, a prespecified analysis comparing the 44% change in visible (non-vellus) hair count to a 12% historical benchmark set by approved pharmaceutical products established statistical significance (p = 0.005).

In addition to the safety and optimisation study, Follica has validated its approach in prior clinical studies using prototype HFN devices with different treatment parameters and therapeutic compounds. Follica's translational work builds on research by George Cotsarelis, MD, who isolated and characterised the expression pattern of stem cells from a critical region of the follicle. An expert in epithelial stem cell biology, Dr Cotsarelis is chair of the department of dermatology at the University of Pennsylvania and a co-founder of Follica.

[nimbo1] 04/6/2020 07:58

it could be some sort of invest overhang

[volvo] 03/6/2020 18:08

...hard to fathom the trades here over the last few days...seems to be being held around 260p ceiling.

With Karuna shares at 97 dollars now our remaining holding is $460m and with $380m in the bank....thats $840m....just about our share value today...forgetting everything else.

Crazy stuff.

Just put a cheeky bid in for the company at 350p, with the knowledge you get $840m back and only pay approx 280m pounds for 23 clinical candidates 13 in clinical stages and with one approved.

Gelesis 22pc and royalties must be worth 200m pounds, with a selling product and clearance.

Cheap as chips

Edit Karuna tipping $99 in after hrs trading, each dollar is worth $4.74m

[lendmeafiver] 02/6/2020 15:24

Why is this not £3 today

[volvo] 02/6/2020 12:45

Agree and disagree.

These types of companies are unique in the type of business plans they have.

Karuna's success is the pay off point and if sold today would have netted Puretech best part of $800m....with another $130m knocking around.

But there comes a point if the share price doesn't reflect this cash, what can you do.

Shareholders want a return either in share price rise or dividends. Ideally both.

Based on current cash burn, thats about 8 years funding. Too much cash on the books imo.

Would Nasdaq like what they see. Of course they would and I would expect as announcement soon. Same as a IPO for Gelesis.

[edwardt] 02/6/2020 12:09

Volvo - I rate this company a lot but they will spend cash on other investments which will burn that cash. The prtc think that will result in a better return longer term. Karuna has simply stopped the need for more raises which is great in that we are less likely to get diluted

[volvo] 02/6/2020 07:48

Gelesis must be looking for a stockmarket listing any time now.

Whats it worth?

See if pulled its IPO in 2015, looking to raise $60m for what sort of % of the company?. 10%?

Completely de-risked now.

Puretech hold 22%, sales and royalties.

[af004] 02/6/2020 07:34

More excellent news.

[rambutan2] 02/6/2020 03:59

I'm up over 100% since buying in and fully expect to make at least another 100%. And I think I spotted Karuna's potential quite early...

rambutan2 21 May '17 - 18:10 - 75 of 564 Edit

Karuna is progressing a potential blockbuster:

[volvo] 01/6/2020 21:19

....ramble, yes.

What you have may have missed is Karuna Therapeutics and the inflow of $245m and the book price of the shares held of $474m.

Thats cash.

If the shareholders wanted to wind this up today you would all get you money back and some, even without any progress on a drug candidate.

Your missing the potential.

[rambutan2] 01/6/2020 20:58

Likewise, don't see any chance of a special div - not something either biotechs or US management in general go in for.

This listed on LSE because they couldn't get it away in the States, where there is no real history of incubator style cos. Here there are/have been a few ie IPO, MERC, BTG etc. Invesco (Henley) under the Mark Barnett regime were prepared to be an "anchor" shareholder (ala Woodford style) but required an LSE listing as PRTC went into the two huge UK income funds. However, as I've already explained above, the Invesco funds have shrunk by £ billions, both due to terrible performance - hence Mr Barnett's recent sacking - and consequent massive and continuing redemptions. As everything more liquid has either been sold or diminished in value, PRTC has risen to be the 3rd largest holding in both funds. This clearly is not a long term defendable position for the under pressure managers of the UK income/high income funds. And if redemptions continue at current rates, it is out of their hands.

PRTC might now be in the ftse250, but one look at the number of Price Monitoring Extensions, tells you how difficult to trade in any size it actually is.

Finally, PRTC doesn't easily fit into any category/mandate. What is it? An investment company or a biotech, or what? So no natural big insti fund buyers. And that goes for Nasdaq as well, hence I suspect the rather slow progress on the listing idea. Folks like it simple, and PRTC is complex.

In any case, ramble over and it remains one of my largest (long term) holdings to which I'm happy to add on any dip to near 200p.

[volvo] 01/6/2020 20:02

...oh i do like a prediction.

If Puretech sit with $850m in the bank, what good is that? Big bonuses cash burn.

Shareholders own the company...they do actually want a return.

I guess its watch and see. Of course a Nasdaq listing will double the share price.

[edwardt] 01/6/2020 18:48

I don't do predictions but I think the odds of or desire for a special dividend here are precisely zero.

[lendmeafiver] 01/6/2020 12:07

They are going to have to take it higher.

[volvo] 30/5/2020 07:50

Rambutan, an update re Invesco.

Have you seen a RNS from the company saying they have sold any of its Puretech shareholding. No because they are not sellers. Thats not me saying that btw.

Invesco have invested in Puretech for EXACTLY the situation the company now finds itself in re Karuna Therapeutics. Its pay day.

Fully expect the selling of Karuna shares to continue...and with Invesco owning over 30pc of Puretech they have a massive say.

My 2 predictions, special dividend (£200m? 75p a share based on complete sell out of Karuna) and Nasdaq listing.

Would still leave Puretech with $550m in cash and debt free.

Karuna share price closed yesterday at $94.



rambutan226 May '20 - 15:54 - 541 of 558

I think this is being held back by an overhang of the Invesco stake, which is held in the two big but evaporating income funds. Perhaps a US listing would offer an exit for the stake...

rambutan227 May '20 - 11:55 - 547 of 558

Yes, as i suggested yesterday, a US listing offers a potential out to Invesco. However, Invesco are under pressure as redemptions continue from the funds.

[volvo] 30/5/2020 07:33

Yes, the main factor is monetising of Karuna shares to the tune of $250m.

Just not been factored in. Puretech now totally de-risked financially for the next 4 years.

[lendmeafiver] 29/5/2020 20:44

I think you are spot on Volvo, Prtc was just starting to motor over £3, then covid happened, it’s just provided a good opportunity to acquire more shares, which importantly some directors have taken advantage of.