Puretech Health Share Discussion Threads

[colinblackbourn] 16/3/2024 16:40

The appointment of RL will help reshape the new Puretech.

[colinblackbourn] 16/3/2024 16:37

27 September 2023PureTech Health plcPureTech Announces the Appointment of Robert Lyne as Chief Portfolio OfficerPureTech Health plc (Nasdaq: PRTC, LSE: PRTC) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases , today announced the appointment of Robert Lyne as Chief Portfolio Officer. Robert brings a decade of experience in international life science deals and portfolio management, along with governance and executive team leadership experience. Robert is expected to join PureTech by early January 2024."We are excited to welcome Rob to our management team and pleased to add a dedicated presence representing our senior leadership team in the UK as we work to deliver impactful new treatments for patients," said Daphne Zohar, Founder and Chief Executive Officer of PureTech. "His extensive legal, operational and UK listed IP commercialization experience is complementary to PureTech's own hub-and-spoke business model. We are looking forward to working together closely as we realize the full potential of both our Wholly Owned Programs and Founded Entity stakes and royalties."Mr. Lyne joins PureTech from Arix Bioscience plc, a transatlantic venture capital company focused on investing in innovative biotechnology companies, where he served as General Counsel and Chief Operating Officer before being appointed Chief Executive Officer in April 2021. He began his career as a lawyer at international law firm Bird & Bird LLP in London before moving to Touchstone Innovations, a London listed biotech and technology investor, which was acquired in 2017. He has worked on over 80 venture capital financings in Europe and North America as well as multiple trade exits and IPOs. As an experienced UK plc executive, Mr. Lyne has broad experience formulating and implementing corporate strategy. Mr. Lyne has a BA from the University of Oxford and an LLB from Oxford Brookes University."I am delighted to be joining the management team at PureTech during such an exciting time in the Company's growth," said Mr. Lyne. "As pioneers of the hub-and-spoke model in the biotechnology sector, PureTech's approach is aligned with my own experience and ambitions. They are highly innovative in their approach to both science and business, which has led to the team delivering an impressive track record of developing new therapies with transformational potential. I look forward to working with the skilled team at PureTech and its outstanding network of advisors to further drive the Company forward."

[rimau1] 16/3/2024 16:30

Agreed, great work Colin. I had always pencilled in £3.00

[colinblackbourn] 16/3/2024 16:19

Bristol Myers Squibb has agreed to acquire Karuna for $330.00 per share in cash, for a total equity value of $14.0 billion, or $12.7 billion net of estimated cash acquired. The transaction was unanimously approved by both the Bristol Myers Squibb and Karuna Boards of Directors.Karuna held $1.3bn cash.but the bid is clearly $14bn.Puretech estimate they will get $294m..

[colinblackbourn] 16/3/2024 16:15

o The launch of Gallop Oncology builds on the promising clinical and preclinical data from PureTech's LYT-200 program in solid tumors and hematological malignancies. The development of a novel oncology medicine requires a dedicated effort that is best enabled through a separate Founded Entity and external capital

[colinblackbourn] 16/3/2024 16:13

o The launch of Seaport Therapeutics will accelerate the development of new neuroscience medicines in areas of high unmet need with the addition of capital partners to bring nearer-term patient benefit. It also builds on the success PureTech has achieved in the neuroscience arena with the same strategy and team at PureTech that invented KarXT. If approved, KarXT will be the third therapeutic candidate to be taken from inception at PureTech to FDA regulatory approval and will represent the first new mechanism of action for patients with schizophrenia in over 50 years.

[colinblackbourn] 16/3/2024 16:00

Since end of December 1.8m shares have been purchased.around £3.5m.cash burn may have been around £15m for the first quarter.so £480m less £18.5m.£461.5m.270m shares in issue.171p per share.some of the $400m Karuna milestones may be several years away as $2bn pa sales are reached.lets value this at $300m .£236m plus £480m is £716m.265p per share.the 2pc of sales above $2bn pa is clearly years away too.say $50m £39m .279p a share.there is also $10m to be paid by Karuna on FDA approval.282p per share.with a significant pipeline.

[rimau1] 16/3/2024 13:04

Agreed Colin. 2 points; firstly net Karuna proceeds i believe are $12.7bn, gross is $14bn. Secondly Seaport and Gallop are in for free - actually everything Puretech own is in for free.

[colinblackbourn] 16/3/2024 12:58

Karuna $14bn closing frees up cash from the big holders.Fidelity will have made several billion dollars for example.100pc owned Seaport and Gallop will be looking for investors ahead of eventual IPO..Remember Seaport is 'Karuna on Steroids'.both ultimate valuations in for free.I wonder what the share price will be by the final results at the end of April.

[rimau1] 16/3/2024 12:43

Just to refresh myself and to buy a trading pot if we don't rise on monday morning pre rns; Cash at 31Dec $320m, Karuna 2.4% at $12.7bn = $305m, less 2024 ytd buybacks. Then up to $400m of royalties likely first payment tranche Q4'24, then net 2% sales royalty over $2bn sales. So cash plus Karuna related fees greater than $1bn. With BMS behind the wheel Karuna will be a huge success.

[takeiteasy] 16/3/2024 11:01

"marketcap should broadly equal net cash, which is a bit silly."


amazing that no clever souls from all these hedge funds etc could work this one and actually go long and push the share price up at all....I know this sounds cynical but I only ever seem to read the US funds wanting to short UK stocks....

[edwardt] 16/3/2024 10:46

More than a bit! Especially when royalty payments added on too

[rimau1] 16/3/2024 10:32

Karuna sale scheduled to complete before US markets open on Monday at which point our marketcap should broadly equal net cash, which is a bit silly.

[lendmeafiver] 15/3/2024 18:15

We are expecting the merger to close on Monday I believe so next week could be the week?

[rimau1] 14/3/2024 19:06

You got there in the end Colin! They have stated this from the start...

[colinblackbourn] 14/3/2024 18:41

. The Company intends to update its capital return strategy in light of the expected closing of the pending merger between its Founded Entity, Karuna Therapeutics, Inc. (Nasdaq: KRTX), and Bristol Meyers Squibb (NYSE: BMY).

[lendmeafiver] 14/3/2024 13:48

If it’s now legally binding, or will be on Monday, then PRTC should announce what they plan to do in terms of distribution rather than letting the market speculate.

[edwardt] 14/3/2024 13:39

i assume the deal has now gone binding from a legal perspective?

[colinblackbourn] 14/3/2024 12:19

Karuna is up 2.4pc pre market 330

[takeiteasy] 14/3/2024 12:09

When the transaction completes (expected in Q2
vs
Expected close 18th March

What is the legal difference between the status on both dates i.e. close vs completion

[rimau1] 14/3/2024 11:52

Thanks Colin, good spot. So when do we rerate is the question

[colinblackbourn] 14/3/2024 11:45

Expected close 18th March

[colinblackbourn] 14/3/2024 11:44

https://investors.karunatx.com/static-files/cba9cffa-1d70-429b-9b87-a15132c996a1

[swinsco] 14/3/2024 08:49

This is looking a bit (very) cheap.. why it's around this level still is a bit beyond me. Sector sentiment is all I can see.