More people at the AGM than normal. Quite a few of the...

More people at the AGM than normal. Quite a few of the scientists were in attendance. The question was asked about Richards exit and it was stated by Stephanie that is was a mutual decision. So who knows what the real story is. It seems that Stephanie is overseeing the management team. Paul Watt on contract as CSO.
No cap raising planned. Cash runway is 12-18 months. Genentech decision in December and they are hopeful of a positive outcome!
The library is the key.
Oncology collaborations going well
FPP unlocks value and showing great results.
IMYC has 5 very strong candidates and they have great confidence in the IMYC program.
IMYC is far more advanced than Omomyc as they have based their testing on that standard, it seems that Omomyc is not proprietary as it is in the public domain and is not owned. IMYC is by PYC.
Paul spoke at length about the patents and how no other libraries are like Pyc's. they have covered synthetic phylomers/peptides in the patents.
The FPPs are the go it seems and they have not been fully optimised yet. The FPPs are functional in multiple cell types. Only PYC can beat the endo trap.

PK assays are very expensive and they are short listing candidates.

The question was asked about Uni of QLD research grant and a representative was there. They are very excited about the results. This is not core business and Pyc happy for these collaborations to be handled outside until commercialisation.

Dana Farber centre at Harvard medical school is looking at other other oncology targets.

No Doug or Jeremy at the meeting?
All resolutions were passed at 99% but it was funny when the free options were questioned for Stephanie and no one really had any idea about the structure of them.

The meeting usually lasts about half an hour but lots of questions this year and it went for an hour and a half.

Paul stated that they are attracting lots of interest at the moment with the results but was shy on who as normal.

Nothing is going to happen quickly it seems but I wouldn't want to be not holding when it does go.

All in all, a positive meeting. I felt uplifted after last years Agm but a year later we have achieved a lot scientifically but we still languish in the penny dreadful area so my expectations are not high for the next 12 months .

I do expect that they will utilise the cap raising resolution in the future and I wouldn't be surprised to see a share consolidation of 10-1. (My thoughts only)

Do they have the holy grail? If IMYC is successful maybe yes ! (My thoughts only again)

Marker2 AGM reporter.
DYOR