How's the Capital Raise Going to Work?, page-72

It’s really tough to bank on a CAR-T to work on a solid tumour. if that’s what you’re hoping to happen that would soften any capital raise blows then I think you’re going to be very disappointed.

CAR-T has never worked on solid tumours. We don’t even have any company and tech to base this on.

it’s because of a couple of things:
- solid Tumour heterogeneity: solid tumours have different biomarkers expressed and different tumours have different biomarkers expressed. So even if you target one tumour because you attacked one biomarker, it’ll appear somewhere else with a different bio marker. It works so well in blood tumours because they only produce one bio marker that you can target.
- solid tumour micro environment: when you get the CAR-T in the tumour, the environment in the tumour reduces the ability and potency of the car-T because immunosuppressive cells or cytokines. It’s also very hard for CAR-T cells to cross vasculature of the TME from the blood cells
- you also cannot re-dose car-T when the patient relapses. This is a once off treatment but it doesn’t seem like it could give you once off response.

if they were targeting a blood tumour then I would still have money on this because you’ll see some really nice responses and it’ll be a matter of durability.

the better shareholder play was to target blood tumours first. Generate momentum and results then target solid tumours once you’re in a better financial position.

if CLTX flunks, then clinical development will go back to square 1. A lot of Car-T companies have divested from solid tumour programs as well.

thought I’d give my two cents on the science since I haven’t really seen much science talk. Mostly, buying low comments, IMU did this comments, capital raise comments, hopium comments. But this is what I’ve researched and just thought it’s not a hill I’m willing to die on. There are better opportunities out there. Hopper and IMU survived in a lower interest environment and in a biotech boom. That bubble just popped and liquidity is very low for a lot of biotechs.

Good luck.