AIM-listed protons beams for cancer outfit Advanced Oncotherapy (AVO) announced a proposed £40 million fundraise yesterday – the largest to date – at 40p per share, a 17% premium to its average closing price over the past month, and a 13% premium to the previous close. I have to hand it to the company, that’s a great effort. But does it make the shares a buy?
When I last wrote about AIM-listed Advanced Oncotherapy, at the end of October last year, it had just announced a placing at 30p per share to raise £7.7 million and my back-of-a-fag-packet suggested that despite the new money, it was placing ahoy. Well, yesterday that placing duly arrived with £6 million raised at a rather more impressive 40p. So will this be the last time the company passes round the hat?
AIM-listed Advanced Oncotherapy (AVO) has announced a fundraise at 30p to raise £7.7 million (before expenses) – as predicted HERE by yours truly. Time for another glass of Ouzo, methinks.
Yesterday AIM-listed Advanced Oncotherapy (AVO) announced a new joint broker in the form of SI Capital. Today we have a ramptastic update…..should we draw a conclusion?
I see that AIM-listed Advanced Oncotherapy (AVO) has appointed a new joint broker, in the form of SI Capital Ltd. Normally for an AIM-listed company surely one broker would be enough – unless someone wants to rattle the tin.
It was announced this morning that AIM-listed Advanced Oncotherapy (AVO) has drawn down an initial $10 million on its secured convertible loan package totalling $30 million with Nerano Pharm – a financing vehicle wholly owned by significant shareholder Seamus Mulligan. So is this a death spiral, and what’s the catch?
I cannot help but notice that shares in AIM-listed Advanced Oncotherapy (AVO) have fallen below their par value of 25p. For some companies this would present a bit of an embarrassment but for cash-guzzling AIM Casino plays with zero income it is surely a disaster. Since it's hard to see how a GM could be called in the current environment, will Advanced simply run out of (other peoples’) cash? And then there is the small matter of construction at Harley Street, which must be a tad tricky at the moment. On 20th February I noted the following:
I suspect that ShareProphets readers already know the answer: that the news is really not all that great and thus it looks like a ramparoonie of the first order! Surely it could not be placing ahoy, could it?
Nigel Somerville is too nice a guy to ask if a company has been a very naughty boy indeed. I am not. I note his piece earlier on Advanced Oncotherapy (AVO) and it seems obvious that, while Nomad Allenby probably does not give a flying feck, the question should be asked. And so I have written to the Oxymorons at AIM Regulation asking them to investigate
AIM-listed jam-tomorrow cancer treatment purveyor Advanced Oncotherapy (AVO) announced yesterday that it had signed up The London Clinic to run its Harley Street clinic proton therapy centre which is under construction. Well, sort of: the deal had reached a Memorandum of Understanding. This is course good news – except that it had already signed up Circle Health to run operations, and I fancy the real reason for yesterday’s RNS was revealed in CEO Nicholas Serandour’s comment where he reveals that the previous deal with Circle Health has lapsed. I wonder when Circle walked……
AIM-listed Advanced Oncotherapy (AVO) announced a fundraise on Wednesday – great news! Or is it? I wonder how much cash it will actually have when all the money comes in – and why, AFTER the fundraise, did researcher-for-hire Hardman produce a report telling us all what a bargain the company is? Then there are loan and outstanding salary conversions and the total – £18.4 million – is still short of a year’s spending, and won’t all arrive until the end of September. It looks a bit desperate – especially when the loan to top up the equity raise will cost up to 15% a year in interest.
AIM-listed Advanced Oncotherapy (AVO) announced director and significant shareholdings this morning, following its latest fundraising in December and resulting share issues yesterday. But it seems that one of the directors has been – undisclosed – selling!
Shares in AIM-listed Advanced Oncotherapy are up by 30% today on the back of yet another technological update and a Flash Note from its paid-for research ramper-in-chief GPSL, the second in less than a week. Of course, yesterday the shares were down by around the same amount which all leaves me wondering when’s the placing?
This is undoubtedly good news for AIM-listed Advanced Oncotherapy (AVO) and the meagre 4% discount in quite a bonus. But I find it hard to get too excited.
