OK so you thought the title of the other thread was out of date BUT unfortunately there is no way to edit thread titles.

So here is a new title

This one has got the charts at the top again & has a link to the old one.
http://www.moneyam.com/InvestorsRoom/posts.php?tid=5021

Insider dealing is alive and kicking!

From a poster that talks with OXB on a regular basis

Martin C-J

I talked to Lara and JD yesterday. The fundraising was done now as opposed to mid next year because the terms of any fundraising then would be even more onerous than we currently have. Apparently both Cubana and M&G supported it and took up some of the placing.

The previous deal on the table for Prosavin was too paltry and not worth accepting. They could still sign a deal on the strength of the 2x data but more likely it will be mid next year. In deal talks with prospective partners there have been concerns about OXB's cash resources, and possibly as result a better deal could not be done.

The new manufacturing facility will allow them significant cost savings and ease scheduling issues that they had with the previous manufacturer. I think the facility will be nearby in Oxford. I don't know why they are buying it instead of leasing it, but I will ask in a follow up.

They will be taking Prosavin forward in the clinic themselves until a partner is found.

They still expect the DSMB review in the next few days, and to release 2x infusion data by end of Dec or early Jan.

Retinostat is currently recruiting patients and they expect the first patient to be treated late Dec or early Jan.

JD is not planning any new acquisitions.

Adam Love has left the company.
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Well I am a little grateful to have broken level on this companyor just a few large down still have some sharesI just hope JD is not related to TFLBTalthough Martin is only posting up his take on the conversationI have little doubt this is now a total punt at less than levelsthey have gone a step too far for meadd that to the insider trading prior to the placingand this company have let themselves down big time

Reply from oxb to another bb poster

Lara MottHead of Corporate Communications.

Mr xxxxxx,



Thank you for your email and apologies for the delay in reply.



Unfortunately there was a leak in the Mail on Sunday on Sunday 12 December to which we responded as quickly as possible yesterday. I am sure you will have seen yesterdays RNS announcements regarding the proposed firm placing and placing and open offer. The fundraising prospectus is available on the homepage of the website and should contain all the information you need.



If you would like to discuss this further, or require any more information, please dont hesitate to contact me. On behalf of the team, we thank you for your support and hope that you continue to be a long-term shareholder.



Best wishes,

Lara
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So it is just a shame that there was a leak and the SP got smashedI was a lucky bunny on thisTabasco was truly lucky this time!

Witney Gazette

BioMedica shares plummet
8:30am Thursday 16th December 2010

OXFORD BioMedica saw its share price plummet after announcing that it needs 20m from investors to fund its research into gene therapy treatments for eye disease, cancer and Parkinson's.

Because of the difficult market conditions, it intends to issue new shares at 5p, but existing investors will see their holdings diluted as last week's share price was 9.25p.

The money is guaranteed as the new share issue is underwritten by stockbrokers Singer Capital Markets.

Spokesperson Lara Mott said: Current market conditions are not as favourable as they were. With any fundraising priced at a certain discount, you do expect the share price to fall.

The company, which employs about 78 staff at Oxford Science Park, is to spend 5.4m on a manufacturing facility for its LentiVector technique, which allows genes to be delivered using a horse virus.

Ms Mott said the new plant would not be built at the science park. Instead, they had an exclusive option to acquire a UK-based facility at a location which would be disclosed in the new year.

Another 8.2m will go on developing a possible treatment for Parkinson's, ProSavin, with the remaining 4.8m used to fund the business.

BioMedica is expecting key results from clinical trials from mid-2011 to mid-2013. If these are successful it will earn payments from drug company Sanofi-aventis, as well as reaching deals for ProSavin and TroVax. It has enough cash to last until early 2012, but it needs more to develop and market its products.

Chief executive John Dawson said biotech had experienced substantial volatility in recent years.

He added: This funding will strengthen the business with a view to ensuring that Oxford BioMedica can extract the highest value from its innovative products.

http://www.witneygazette.co.uk/business/8739926.BioMedica_shares_plummet/

I just cant get my head wrapped round this companyand sorry for this long postbut I have a strong gut feeling that I have now acted on.

OXB have asked its investors for 20ma massive dilutionthey have commented that the money will be used for5.4m on a manufacturing facility for its LentiVector techniqueAnother 8.2m will go on developing a possible treatment for Parkinson's, ProSavin with the remaining 4.8m used to fund the business

Now I dont know about youbut as a thicko myselfIf my company were in trouble with 78 staff. 5.4m on a manufacturing facility8.2m on developing a possible treatment for Parkinson's ProSavin.leaving just 4.8m to fund the businesswould not be my best plan.the 4.8m means a few extra monthsbig deal? at that point I started to smell a rat?

To sell this idea to us at the % of dilutionwas a fall at the first fencethen we have the speed of which we needed to act for the offerthen of course this was done to coincide with Xmasthen the Mail conveniently leaked the placingthe company could have easily waited a few more months and had the 2x & 5x infusion resultsWhy?.. they are a lot brighter than us poor old investorsand knew the SP would capitulate to around the 5p or less The underwriter would be left in deepdeep sh*tor did they want it that way?perhaps they engineered it enable Sanofi a huge lump for next to nothingwith a manufacturing facility thrown in onj a future deal?something gives?

I put the a manufacturing facility to Lara Mott with a few other of my concernsthis was her reply:-

Dear -------------,

Thank you for your email. By way of background for the fundraising as a whole, Oxford BioMedica has taken the opportunity to raise funds now primarily in order to operate from a position of strength. Prior to this, the current balance sheet contains only sufficient cash to maintain operations at their current level and to fund the present programmes until early 2012. This means that not only is there a fundamental issue of the Company not being able to reach most of the clinical data and potential revenue points that will be generated across our product portfolio but also, as time goes on, the Company will be in an increasingly weak negotiating position with potential partners.

Regarding the manufacturing point you have raised below, we have an exclusive option to acquire a UK-based manufacturing facility at a fraction of the cost of a new-build. We currently have one Phase I/II product, ProSavin, which utilises our EIAV-based LentiVector technology platform (EIAV stands for our equine infectious anemia virus which we use to deliver the genes), however we have four LentiVector-based ocular products, partnered with sanofi-aventis, moving into clinical development over the next 18 months. This moves us from one LentiVector-based programme to five clinically active programmes.

We estimate that it will take about 12 months to bring the manufacturing unit on-stream, but thereafter, based on present plans, the amount of clinical-grade material that our development programmes will require could make the manufacturing unit cost-effective. With five LentiVector products moving from Ph I/II through to Ph II, Ph III and the market, we plan to support our five programmes with control of supply and we would eventually also have the opportunity to be the preferred supplier for our commercial partners.

I hope this provides some clarity.

Best wishes,
Lara

I have recently sold 75% of my holding for just under 10pthe remaining 25% staysbut my gut feeling is.something is brewingthe facts as they have been explained dont add up!!!

Call me the biggest thicko on these BBs but I have just bought back my 75% at not far short of half pricethis stinks of a cover-up on the known futureor the management are thicker than me!!!!
Please dyor.

Dec 20th 2010 - Edison Investment Research today published a report on Oxford Biomedica (OXB.L, LSE:OXB, LON:OXB) entitled "Cash Ahead Of Catalysts". In summary, the report says:

Oxford BioMedica intends to raise 20m gross (18.4m net) via the issue of 400m new shares at 5p per share. Funds will be used to progress ProSavin into Phase II (although deal discussions are ongoing), invest in manufacturing infrastructure for its LentiVector programmes, and strengthen its balance sheet (and negotiating position for partnering deals). It will also provide working capital beyond the first catalysts associated with its ocular assets, expected mid-2012. Near term, the key catalyst remains a ProSavin deal, likely H211/H112, after three month data for the 5x dose.

http://www.stockopedia.co.uk/research/cash-ahead-of-catalysts-51563/

tabasco, you did well to convert 50% into cash (leaving yr holding similar), if only I could be so Bold!. I'm not sure, but given that they have put-forward an honest face in the past, perhaps they should be given the benefit of the doubt. I intend to buy-in at the Right price 5p - it will lower my average and prevents dilution.
What worriwes me is that these wnder cures are taking so long to progress, OK forget the Sanofi debarkle - that was a Corporate Policy (er, wasn't it?), and so far there have been no "negatives" against their products.
I just wonder that it isn't the company that needs treatment more than the endless "trials".
If they can buy a UK-facilty "cheaply" then why-not? There are plenty of Biotechs that have spent our money thinking the Big-Time was upon them, only to dash our investments down the pan. Consequently there is a surplus of "plant" - er, perhaps only needing total rebuild to make it useful...Ah, there's the rub.

I think OXB next AGM will have to be pretty sparkling for me to continue to hold this. I put little value on Research Notes, etc., although a useful insight for those that don't know the business, well.

Hangon.me selling not long before this news was pure luckI would love to say it was skillhoweverI do believe the company are setting themselves up for somebody elseI think it is a done dealif I was trying to negotiate survivalI would act a little more thrifty and take a greater measured approach for survival or perhaps Id buy an island?
The underwriter risks being stuck with a whole lot of stockand this deal is so badly timed and put togetherthere has to be information known to the chosen oneseither both the 2x & 5x infusion results or a take out discussed in the Cafe De Paris Monte Carlo is my beteither way I have now backed my hunch and piled in.total punt! Crackers!

Thanks tabasco, I'm about to sign the cheque for mine. However, I didn't get-out so you are sitting on a lower av sp. That said, it matters little in the long-run, if they do well - OR - not.

I can imagine OXB thought they need to bolster the bal sh, if an opportunity presented itself - and once that was set in motion the quicker the better, otherwide the sp would be shorted etc. However, I do wonder why this "shortfall" or whatever wasn't noticed in Dec2009 - when the sp was 12p. That would have enabled them to do far better with a lesser risk to LT shareholders.
It may have been the op to buy this "plant" that triggered the Rights Issue. We shall all know on Jan 7th 2011-.(General Meeting).
Fingers crossed.

Edison Investment Research | Update | Oxford BioMedica | 20 December 2010

http://www.edisoninvestmentresearch.co.uk/researchreports/oxfordbiomedica201210update.pdf

hello t
you have been championing this stock for ages.then suddenly you inform everyone in your post no. 1305 12/12 that you sold 75% to finance an investment in an alternative "runaway" successful stock and that you expect this price of OXB to fall tomorrow?
i am beginning to believe and understand how it is that you are indeed lucky.and it is most fortunate that you can at some later date prove that you posted to such effect.even though it was at past 11pm on a SUNDAY night. well done. stay lucky.
regards
jkd
ps you averaging down again? ;-)
edit that should read what turned out to be a "runaway" successful stock.so far.

JKDyou have always tried to have a pop at meI have previously thought it was because I was smartslickand good lookingit now turns out you dislike me because I really am a lucky thickolet me pull your post apart bit by bit:-

you have been championing this stock for ages.then suddenly you inform everyone in your post no. 1305 12/12 that you sold 75% to finance an investment in an alternative "runaway" successful stock and that you expect this price of OXB to fall tomorrow?

i am beginning to believe and understand how it is that you are indeed lucky.and it is most fortunate that you can at some later date prove that you posted to such effect.even though it was at past 11pm on a SUNDAY night. well done. stay lucky.
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Answeryes I do think this stock has potentialbut I sold 75% in mid October to finance AVN @ 6-07......[Dil - 19 Oct 2010 12:16 - 36 of 37
Can I take it you've joined me then tabby ? AVN thread] tuttuthardly a "runaway" successful stock
My post at 23-07 on Sunday was only to inform holders of a leak in the papers about the 20ml bombshelltuttutI am afraid you forgot to read all my post on this thread.tuttut! I also admitted in post 1310 that I was a few large down [thousand]tut.tut

JKDI wrote to the company about several pointsand received a reply which I posted yesterdayI spent many hours going over the info I have gatheredmy conclusion wasthe management were either as thick as meor their confidence was based on information not yet shared with us PIsmy gut told me the latter I decided and believe OXB will be taken outor good news was imminent I invested quite heavily yesterdayas posted.

Now if all of this is not clear to you JKDyou must be a lot bittertwisted and stupid than I thoughtKapeesh

t
thanks for your explanation.full of holes.
so, you averaging down then?
stay lucky and have a nice christmas.
regards
jkd

JKDI have answered all your accusationsall in print for any referenceeven post numbers... please post what part of my answers were full of holes

Most posters will clearly see what an arse you have made of yourselfas usual!!! your post was full of mistakesno research as usual!!!and I get no apologyas usual!!!now do what you normally do when you are wrong..breeze away like the mistral winds

t
if you cant see them and need me to point them out then it is little wonder you keep falling into them.
regards
jkd

JKDI have been completely honest as alwaysif you refuse to point out my dishonestyyou rather lose the battle

I swear you are bonkers!

Can any JKD fan point out what he is on about.Im struggling!

For me it is a simple case that small biotech companies that I know of are being hammered in the market for the simple reason that they are loss making and therefore need funds and with the market as it is, it believes the funds may not be forthcoming.

When the sp fell a year or two ago the company came out and said they didn't understand the drop as they still had funds for that the next two years. It made no difference to the market and as we know the sp has stayed around 10p for as long as I care to remember. The company may well have believed that over the past year the sp would have recovered somewhat and then they would tap the market for the said funds. This just hasn't happened so they have got in now rather than wait 6 months when the sp might have been 5p anyway and the fundraising would then have been at 2-3p.

I guess at the end of the day, either the market will see these companies in a better light or they will go bust unless of course they come up with some innovative deal that turns the sp around.

Only my take of course.

Dealerthat is a reasonable take on the situationbut with 78 staff to paythen to spend 5.4m on a manufacturing facilitywhen you might not have a business in two yearsa further 8.2m will go on developing a possible treatment for Parkinson's ProSavinthat leaves diddly squator 4.8m after costs to fund the business
Two scenarios in my opinion. A bod's as cranky as JKD or developing the business on privileged information

After talking to the company I backed my hunch yesterday!

hunches pay for lunches.
what about dinner or the mortgage?
i truly hope this company succeeds.and i dont care about t making a mint, i hope he does,just wish he would be a little more honest about it,thats all.
just my opinion of course.
regards
jkd