PYC

2.70%

19.0¢ pyc therapeutics limited

Massive help - thank you. Maybe you will all be stuck with me...

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Upxdn

849 Posts.

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19/11/18

12:34

Post #: 36556601
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Originally posted by Timbo57 ↑

Hi Upxdn ... I’ll do my best.
I’m not a scientist so I only picked up snippets of tech stuff - One comment that stuck in my mind was that they had some data (and tissue photos) showing that they had already outperformed the Sarepta CPP. In relation to the in vivo trials coming up I thought this sounded like don’t ask a question unless you know the answer and in this case they are very confident of the answer. The slide 5 in the pack with the timeframe for the path forward mislead me a little as I thought the Definitive data pack was slated for end 2019 but in fact it will be delivered by Q3 with interim data Q2.
In attendance ... there were the people up the front (Board and Management), several of the scientific team including a former CEO, about 10 others. The CEO presentation was very interactive with the audience with lots of questions about how/why this time will be different.
Yes I am saying Slide 2 times slide 5 - another example cited was Sarepta achieving $8b market cap with one CPP/one drug whereas PYC is “scalable”. Of course if we were that successful you would probably find a buyout before too many multiples occurred. I know this sounds very bullish on my part but it was clear to me that the new(ish) investors are not in this for a marginal profit and are very confident of success. A comment was that as we near the end game it is becoming clearer to us and apparent what the path forward looks like. This was a very good comment to express confidence in the path forward but also as a nod to previous Management and scientists that it wasn’t always so clear and the pathways so apparent.
I didn’t pick up anything in relation to specific news expected prior to Q2. Although they committed to bringing shareholders on the journey with updates.
The next Genentech payment was discussed - the amount if it occurs was $142m. Milestone is end 2019.
There were other major investors but I won’t breach their privacy by naming them (other than alluding to them). I did take the opportunity to have some conversations after the meeting. I have been to previous PYC AGM’s including the “infamous” 2016 AGM. You might recall this was not long after “we will deliver a data pack in the first half of 2016”. So when November 2016 came around and there was still no data pack I asked if it would be delivered prior to year end and was assured by 2 Directors that it would. Still waiting. So I didn’t go into this meeting without some scepticism. My comment that this felt different is intuitive. Tribe guiding the ship is assured, confident yet calming. He instils confidence. Rohan is an intellectual bundle of energy with a lot of confidence in his direction. The combination of Tribe and Rohan looks very good. Tribe will be a good coach/mentor and decision maker.
Hope that helps.
Timbo

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Massive help - thank you.

Maybe you will all be stuck with me longer than anticipated. Still - saying things and delivering are quite different. I used to look for slow SP appreciation but now I think this could just a be a very rapid event based re-rate that is impossible to predict. I’d love to see Sarepta V BioMarin with Tribe as referee.

PYC Price at posting: 3.0¢ Sentiment: Buy Disclosure: Held
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Massive help - thank you. Maybe you will all be stuck with me...

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