It may be worth noting Spl7013 is one hell of a molecule/dendrimer. The company has spent more than $100 million developing it into a most versatile entity. Just look at what it does as a broad spectrum antiviral.
For many many years the market has severely severely severely underestimated the true value of it's IP
Where to from here
Well we survived the ASX 300. In December of last year I thought we could get into the ASX 200 this quarter or the latest June 30th. That will not happen. However it might by the end of this calendar year (me being the eternal optimist)
There has obviously been a concerted effort by short sellers to concentrate their attention on Starpharma (as seen in the daily action over the last 12 months)
The cone of silence by Starpharma continues to frustrate shareholders
The cone of silence is necessary in most cases due to the sensitivity of negotiations and non disclosure agreements in place
There have been long term holders that walked away late last year and earlier this year. They ran out of patience.I don't blame them
There have been short term holders that came in on the Viraleze chapter hoping to make a quick buck. A lot of them would have now departed.
There are long term holders who are still here. I am one of them. Did I fall in love with the stock. Yes. Could I have walked away on multiple occasions and re-enter on multiple occasions. Yes. However I believe we are on the cusp of greatness.
Why am I still holding and continue to buy on weakness
Many years ago I bought into a company (resource) that fluctuated between 30 cents and $1. I personally thought it was worth many multiple of $1. I bought at 28 cents. It went up and down several times over 2 years. Finally running out of patience and frustrated, I decided to sell next time it hit $1. It got there and I pressed the sell button. Over the next year it went up to $12
Another time I purchased a company when the share price was 22 cents and kept on topping up as the share price increased. The company was a service provider in the oil and gas sector. It reached $2 and paid a good dividend. Then the global financial crisis came along and with the rest of the index this company tanked. What did I do. Kept on topping up between 80 cents and $1.30. The company continued to pay increasing bigger dividends and expand operations. Finally an opportunity came along which the CEO did not jump on. I sold at $3.30 and was very happy. My reason for selling. I lost faith in the CEO. Over the next couple of years the CEO kept on making mistake after mistake. The share price got as low as 5 cents and really has not recovered from this value
So to Starpharma
The IP is potentially worth multi billions of dollars. Once it is monetised shareholders will be receiving substantial dividends. Here we have a CEO who is highly secretive and rightly so. Here we have a CEO who cannot buy shares in Starpharma period...... due to her privileged insider information. There have been reasons from my perspective the company has so far not reached agreement with FDA relating to Vivagel, nor moved forward with the MHRA, and stalled approval of Viraleze with the TGA. Are we privy to this. No. Are we entitled to be frustrated. Yes. However this is the nature of the game
Last week as we are all aware a newspaper journalist wrote a piece on the TGA and Viraleze. It is highly unusual for TGA to respond to reporters on matters which are under the microscope.......knowing it would be released publicly. The CEO was surprised as indicated in the response to the newspaper article. She really had no choice. What else could she do.
It is interesting to note that the company has increased it's employees to........ if the information is correct...... around 70 from a number around 50 this time last year.
Outlook in a nutshell this year (calendar)
Completion of 3 internal phase 2 trials with data deck
Expansion of AZD0466 clinical trials into further indications (my opinion)
Completion of undisclosed preclinical Dep version of AstraZeneca out of patent former billion dollar plus revenue drug and option agreement initiated ($US5 million)
Merck beginning one of multiple first in human trials with Starpharma's ADC's DEP versions
Chase Sun beginning first in human trials with Starpharmaa's anti-infective DEP versions
Genetech progressing partnership with Starpharma
FDA finally approving NDA of Vivagel
A new partnership or two or three with big pharma on radiotherapeutics
A new partnership agreement or two or three in ADC's
TGA finally approving Viraleze
An Indian deal signed for manufacturing and distribution of Viraleze
An agreement signed to license our Dep Docetaxel, Cabazitaxel and Irinotecan with an upfront substantial payment
A substantial milestone payment for initiation of first dosing of phase 2 patients in the seamless phase 1/2 trial of AZD0466
Plus other events which we are not aware or privy to
So why am I still an investor in Starpharma
I like the science
I like the Board of Directors
I like the CEO
SPL Price at posting:
85.5¢ Sentiment: Buy Disclosure: Held
