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To be fair, it does seem that EVG are due milestone payments and it is strange that Stalicla have not yet made the expected payment.
I hope for the shareholders that this will be resolved in good spirits rather than cause some friction.
I am sure this share price could tempt some people to buy some shares, it could be a nice quick profit but if the Stalicla deal falls through it is surely game over for investors.
Room for plenty of speculation...
Stalicla are just bad payers
Stalicla no longer see SFX-01 as a treatment and don't want to pay
Stalicla or Firefly Neuroscience are looking to pick up Evgen for peanuts...
Or any number of other reasons like they lost their cheque book lol
Can't buy on HL..
Cancel that, picked some up...
No indication Stalicla is pulling out on their website:
https://stalicla.com/pipeline
Regardless, that RNS is all that matters. One issue too many for me. GLA.
Yes DS Flat. If Stalicla pull out now that will impact on the whole legitimacy of their platform DEPI. The updated site, Jan 2024 states that DEPI correctly predicted the response for STP2 candidates based on their assessed data in clinical trials. So if they've changed their mind based on trials DEPI isn't any good/ Stalicla have misled the market in their recent series 16 fundraiser. Very unlikely. Think they might be wanting to move the goal posts on the payment because they didn't raise as much as they wanted but as the website says STP2 will enter trials this year. So still committed. Hope they resolve this quickly. Both firms reputations are on the line. Staclica has much more to lose.The Novartis deal could be compromised and they could face serious consequences if they have misled the market.
Whilst this event IS a blow to shareholders one Can see that Evg are being reasonable and responsable so let's see what happens Next ...
Holding on to my stake in any case ..
Yes, I am holding too. Hope to see another RNS next week confirming an arrangement to pay and next steps for phase 2 trials. Otherwise it's over for EVG and probably very bad news indeed for Staclica and their directors could be facing direct challenge in court. Seems too far fetched. Think they are just trying it on for a deferred payment. EVG RNSed that they were very pleased with the trial outcome in August.
Not brave enough to buy more just now but will dive in if phase 2 trials are confirmed. Blimey.
IMO the BOD here would not have released that RNS without having first exhausted discussions with Staclica. I mean, it is a pretty nuclear option to take!
If we see an RNS detailing significant inside purchases from Huw and his colleagues, then it might add some credibility to the thesis that the product is actually of some value.
As things stand, when you consider all the other problems historically, the Juv farce etc...this one looks to me like it has just about run out of road. Another classic AIM lifestyle outfit. GLA.
Directors buying is not proof of anything. They could be accused of insider trading if they buy when they know they have to enter into dispute over a payment which is then swiftly resolved due to taking such action and followed by an announcement of forthcoming phase 2 trials.
Strange that there's more buying now than there's been for some time. Could be a disaster, could be a catalyst to get things done in line with their agreement and trying to assert some control as the junior partner. Not happy obviously. Probably not as unhappy as Staclica investors if this goes pear shaped.
Very disappointing news. I'm not sure what is going on as it's not like Stalicla don't have the funds available.
I appreciate that, but the window for them to buy has not been closed for the entire time that they have been in their roles.
And I know from similar outfits that even with decent inside buying, things can still go bust.
At least you feel a BOD is aligned with fellow shareholders. That they are taking some financial risk as well.
As to the risk that Staclica is taking...I simply cannot see that they would try and 'pull a fast one' in the event that they felt the product was effective for their plans.
I appreciate that greed is commonplace in business, but that would be lunacy. As to their website: perhaps they have not updated it yet?
I guess we will find out soon enough and I wish you and your fellow holders well. That still includes me, to a small extent now, with a rump holding mentally resigned to becoming a tax loss at some point, unless a miracle occurs.
They didn't raise as much as they wanted though did they?
They updated their website in January 2024.
Wish you well too LWHL. Gla.
I'm going with Stalicla and/or Firefly Neuroscience seeing an opportunity to starve Evgen of cash with the intention of making an offer for the company.
Firefly Neuroscience merger with Wave Dancer Inc will give them Nasdaq listing...
Stalicla could partner up with Firefly, have SF-01 to themselves
Not sure that would be the CEO's style. I know business can be duplicitous obvs, but she has a decent reputation. Think they have 3 big trials on and didn't raise enough to do them all simultaneously. Reckon they're trying to defer the payment and EVG not playing ball as is their right. Why would we agree to a cut price sale if we know they want to buy us?
That might not be Stalicla's CEO's style but the recent funding included new BOD's which I suspect are more profit driven...
Why pay all this money when we can starve Evgen of cash, maybe make a hostile takeover...
'Milestone payments up to commercial launch are $26.5m, including $5m on grant of IND by the FDA (anticipated in late 2023). Total milestones of $160.5m are payable to the Company in relation to the first neurodevelopmental disorder indication under the license. Royalties payable to Evgen on sales are in the low to medium double-digit range in all scenarios, including on-licensing by Stalicla and use of SFX-01 in further licensed indications'
The Cancer treatment could be farmed out and Stalicla could save themselves a few hundred million $$ just buy taking over Evgen...
Wild speculation but that's what I'd be thinking if SFX-01 looks like it will work
Www.pharmaceutical-technology.com
This publication has an interview with the Stalicla CEO from February 7th 2024. She again commits to taking both STP1 and STP2 into trials this year. Two days ago. Something is afoot. I would vote for a takeover at a reduction from the £165 million milestone I guess. 🙃😄
Who knows what on earth is going on tbh. I am on the go- visiting my mum so no time to get on my PC and share the article. Hopefully you can easily find it.
Reckon we should all hold out for 80p? 😄
DSFLAT….yep it’s good to go with your far fetched conspiracy theory.
Makes much more sense than the likely story that Stalicia has lost interest in SFX-01 and this non payment situation is a pre-cursor to them bailing out of the agreement with EVG.
Will be a double whammy for EVG if the agreement ceases and then management goes down the legal path with lawyers expenses to try and pursue them for damages. That would accelerate the cash burn with no assurance of a timely positive outcome.
FYI the Firefly merger with Wavedancer was approved by shareholders on the 18th which will give them a Nasdaq listing.
https://wavedancer.com/
For those wondering why I'm mentioning this, Stalicla announced that they were working with Firefly a year ago;
https://stalicla.com/media/news/firefly-neuroscience
Thanks, Trickymatters, but have not dumped the rump holding yet.
New tax year, unless some magic happens before then, lol.
We have seen some token inside buying, but really nowhere near enough IMO to make participation an attractive proposition. GLA.