The conundrum We won’t be 0 in December and I’m not expecting a fundraise in September. Perhaps my post wasn’t clear enough. I was simply trying to raise a point on why Lombard are selling but at the end of the day it’s pointless guessing… they will do what they want to do. All FUM have to do is deliver the headline data on time which will hopefully be excellent
The conundrum Are you expecting a fund raise with the 1H results in September? Cash resources of £9.16 million at 31 December 2018 Surely they won’t want to do further dilution, doesn’t Barder & his family own a fair amount of stock?
The conundrum I can’t help but feel one of the reasons LO are selling their shares is they are counting on FUM needing to raise funds again and are hoping they can buy the shares they are currently selling at a much cheaper or cheaper price… (as they have done before) I’m pretty confident FUM are working on some options including licensing MED2005 in territories outside the huge EU and USA market (IMHO). If they are able to pull off a licensing deal or indeed sell the rights for some territories that lie outside the above mentioned markets, it would raise enough funds… If such a scenario were to occur, it could result in a mad scramble for LO to buy some of their shares back Selling the rights for territories outside of USA and Europe makes sense as it avoids further dilution and they keep the jewel in the crown (80% of the market) up for grabs
The conundrum Good to see you’re still with us , fx2452. My thinking about STADA being the suitor is for them to basically take the reins in terms of funding MED Phase 3 Part 2 by taking out FUM (close relationship already established through TPR). This might cheese a few LTHs off but I can see a few of the major shareholders (including the directors) taking what’s on offer. I can’t see one of the potential partners being happy to take MED on board after Part 1 but before Part 2 as MED is still incomplete. I don’t think STADA would ultimately commercialise MED. just sell it/FUM on. My take on stealth stake building ………… I can’t see a reputable institutional investor trying to get round the 3% disclosure laws by splitting their holdings, but having said that it does appear that there is strong interest which is more than offsetting Lombard’s offload. Lombard’s selling is huge for such an illiquid small cap so none of this makes sense to me, I’m bamboozled on this one. Maybe “several” interested big players? To get to 3% notification they’d have to acquire over 6 million shares so I suppose we might nearly be there in terms of notification? Finally re the exclusivity re negotiations. Absolutely not! I remember digging out an example of an arrangement where a big player had paid a couple of million for exclusivity only to ditch the talks after a few months ………… all the fee was used for was to pay the company running costs during the talks - time was lost and no doubt other interested parties walked away so I don’t agree with the idea.
The conundrum No way to exclusivity. Let a bidding war unleash full value!
The conundrum What are your opinions on exclusive negotiations? I know we are getting ahead of ourselves here but do you think if there were multiple interested parties, that FUM should enter exclusive negotiations if it were offered by a company (obviously with an associated payment too)? I really don’t think they should… I think FUM should just tell all of the interested parties to get their skates on and start negotiating and get the cheque book out if they want to sign on the dotted line
The conundrum Yes the threshold is 3 percent but it is relatively easy to get around the 3 percent rule and it would be impossible for someone to find out (if the accumulation was done properly through different accounts etc.
The conundrum Hi fx, the threshold is you mention is 3% of holdings.
The conundrum I agree Fx something must be going on behind the scenes, yesterday and today I’ve been able to sell high amounts at times if I wanted. Like yesterday at one point I could sell 300k shares. Lombard do seem to be offloading a bit still but like you said someone else is buying in. A company or companies seen to be getting ready for results.
The conundrum Few more details about P3 here: OCT Clinical Trials Successfully Recruits 700 Patients for Phase III Erectile Dysfunction Study OCT, Eastern Europe’s leading CRO, partners with UK-based Futura Medical; completes clinical trial enrollment for MED2002, a topical gel developed to treat erectile dysfunction. PRWeb OCT Clinical Trials Successfully Recruits 700 Patients for Phase III Erectile... SAINT PETERSBURG, Russia (PRWEB) August 16, 2019 -- OCT, Eastern Europe’s leading CRO, partners with UK-based Futura Medical; completes clinical trial enrollment for MED2002, a topical gel developed to treat erectile dysfunction.
The conundrum You beat me to it MtheM. At around 10.45am I could sell up to 150,000 shares. I suspect someone may be accumulating…? I also think that Lombard are also using the price strength to offload some more today as well. They tend to offload of late at around 44p + Let’s see how the future pans out for FUM. GLA
The conundrum Can sell 300000 shares at the moment, can’t even buy 5000. Big demand from someone.
The conundrum It’s really nice to see how strong the share price is holding up today. In the past a Lombard offload would hit us pretty hard but now we seem to absorb the shares really well. Like Tony said the market is really liking FUM. And with hopefully only good news to come after a few painful years, we will reap the rewards.
The conundrum One announcement that may come out in early September is the completion of phase 3 trial. The team will then get busy unblinding the data and hopefully have something for us by the end of November
The conundrum Hi all, hope you’re all keeping well. My thoughts exactly, Emtree, regarding STADA as a possible suitor. FUM’s results last April stated in the webcast that they expected Thornton & Ross and subsequent approval for TPR to be “a few more weeks” but the delay in submission suggests (to me!) a holding back to coincide with Phase 3 MED results then a positive outcome on both TPR and MED may lead to STADA taking out FUM, not necessarily bringing MED to market themselves but essentially financing part 2 Phase 3 and selling. I’m still keeping an eye on the possible TPR trademark Dermamax for which the latest status is “Defence filed/Evidence period” after being opposed. All in all a waiting game but with hopefully a meaningful update with the interims, but the Market is still liking FUM having held up exceptionally well in the 40s for over a month now so fingers crossed for the next leg up which I’m forecasting to start the end of next week before the Holiday break (preferably sooner!).