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AGI AGI

7.25
0.00 (0.00%)
16 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
AGI LSE:AGI London Ordinary Share IE00B0YT0Q82 ORD EUR0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 7.25 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 7.25 GBX

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Date Time Title Posts
05/8/201300:15AGI Therapeutics 9p per share of cash, no debt and 5p to buy right now, BARGAIN!328
29/9/201112:19AGI Therapeutics461
13/2/200610:07agi67

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Posted at 16/5/2012 14:44 by wexboy
AGI Therapeutics - Final Part IV:
Posted at 09/1/2012 07:03 by topinfo
Offer for AGI Therapeutics plc
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Alert

TIDMAGI

RNS Number : 1836V

AGI Therapeutics plc

09 January 2012

For immediate release

Not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction

09 January 2012

PRE-CONDITIONAL RECOMMENDED CASH OFFER

BY

ARAVIS THERAPEUTICS LIMITED

FOR

AGI THERAPEUTICS PLC

Summary

-- The boards of Aravis Therapeutics Limited ("Aravis") and AGI Therapeutics plc ("AGI") are pleased to announce that they have reached agreement on the terms of a recommended cash offer by Aravis for the entire issued and to be issued share capital of AGI.

-- AGI is a specialty pharmaceutical company which is focused on the development and commercialisation of differentiated specialty drug products to treat un-met medical needs, including conditions which qualify for orphan drug status.

-- Under the terms of the Offer, AGI Shareholders will be entitled to receive US$0.1171 in cash for each AGI Share they own.

-- AGI Shareholders will be able to elect to receive their entire cash consideration pursuant to the Offer either in US Dollars or Euro. The Euro cash amount payable will be determined based on the prevailing US$/EUR exchange rate either on the day the Offer becomes or is declared wholly unconditional or if valid acceptances are received after that date then on the day their cash consideration is converted into Euro.

-- The Offer values the entire issued and to be issued share capital of AGI at approximately US$8.4 million (EUR6.6 million).

-- Based on the closing US$/EUR exchange rate of 1.2776 on 06 January 2012, being the latest practicable date prior to the date of this announcement, the Offer values each AGI Share at EUR0.0917. This represents:

-- a premium of approximately 67 per cent. to the Closing Price of EUR0.055 per AGI Share on 06 January 2012, being the last Business Day prior to the date of this announcement;

-- a premium of approximately 130 per cent. to the average daily Closing Price per AGI Share for the three months up to the last Business Day prior to the date of this announcement, being EUR0.040;

-- a premium of approximately 137 per cent. to the average daily Closing Price per AGI Share for the six months up to the last Business Day prior to the date of this announcement, being EUR0.039.

-- The making of the Offer is conditional upon satisfaction of the pre-condition set out in Appendix III to this announcement. The pre-condition requires Aravis to receive by 12 noon on the date of this announcement irrevocable undertakings in a form satisfactory to Aravis from AGI Directors, and the AGI Investors to accept (or procure the acceptance of) the Offer in respect of 31,359,118 AGI Shares and, to the extent exercised, 4,200,000 "in the money" AGI Share Options, in aggregate representing approximately 49.6 per cent. of the entire issued and to be issued share capital of AGI at the date of this announcement.

-- The Board of AGI, which has been so advised by Davy Corporate Finance, considers the terms of the Offer to be fair and reasonable. In providing its advice, Davy has taken into account the commercial assessments of the Board of AGI.

-- Accordingly, the Board of AGI unanimously recommends that AGI Shareholders accept the Offer.

Commenting on the Offer, Ronan Lambe, Non-Executive Chairman of AGI, said:

"AGI is pleased to announce the Offer, which has been unanimously recommended by our Board of Directors. We believe the Offer represents an attractive premium relative to our recent share price trading history and when the Offer is considered alongside other alternatives the Offer represents the best outcome for Shareholders".

This summary should be read in conjunction with the full text of the following announcement and appendices.

The Offer will be subject to the conditions and further terms set out in Appendix I of this announcement, which will also be set out in the Offer Document and the Form of Acceptance. Appendix II contains the bases of calculation and sources of certain information contained in this announcement. Appendix III sets out the pre-condition to the making of the Offer. Appendix IV sets out definitions of certain terms used in this announcement (including in this summary).

Davy Corporate Finance is acting as financial adviser to AGI. Beauchamps Solicitors are acting as legal adviser to AGI.

Goodbody Corporate Finance is acting as financial adviser to the Aravis Group. A&L Goodbody is acting as Irish legal adviser and Burke, Warren, MacKay & Serritella, P.C is acting as US legal adviser to the Aravis Group.

Enquiries:
Posted at 04/11/2011 11:48 by moreforus
ok which one of you is Paul??

Holding(s) in Company
print
TIDMAGI

RNS Number : 5266R

AGI Therapeutics plc

04 November 2011

AGI Therapeutics plc ('AGI')

Holding in Company

AGI was notified on 2(nd) November 2011 that Paul Johnson has increased his shareholding to 2,050,615 shares representing 3.04% of AGI's Issued share capital.

Contact Information

AGI Therapeutics

David G. Kelly, Chief Financial Officer Tel: +353 1 449 3254
This information is provided by RNS

The company news service from the London Stock Exchange

END

HOLUSSARASAARAA
Posted at 07/10/2011 09:41 by fairdeal2008
well a decent rns on the lead programme would make this interesting as certasinly tightly coiled. From the interims:

-- The first six months of 2011 were dominated by the pre-clinical evaluation of AGI-350,, a novel presentation of an existing marketed drug which AGI is developing to treat a significant unmet medical need in the critical care setting.

-- AGI has completed preliminary development and in-vitro evaluation of a form and formulation of AGI-350 which is specifically designed to provide effective and efficient delivery of the drug to the lung.

-- AGI entered into a technology access agreement with Aerogen Ltd. to provide specialized aerosol technology for the administration and delivery of AGI-350 to ventilated patients in the Intensive Care Unit (ICU) setting. This proprietary technology is being customized for use with AGI-350 in the target patient population and prototypes have been developed for pre-clinical evaluation.

-- Furthermore, AGI has initiated a pre-clinical programme for AGI-350 which is ongoing. A model of the target condition has been developed and is being employed to characterise AGI-350 and generate key proof of concept data to inform subsequent clinical development. Once this phase of evaluation is completed in H2 2011, AGI will consider the next steps for this programme, which may involve advancing the product into human trials.


---------------------

ps H2 ends 31 Dec so we are very close to news on agi-350 now.

imho dyor
Posted at 19/9/2011 21:21 by fairdeal2008
Just looking at the assets - mainly cash of 9p per share. Tax losses of $73million x 12.5% reduced Irish tax rate = 9p per share. IP for AGI350 and longstanding IP difficult to assess.

Tax losses fickle at best so say 4.5p, providing for underlying assets of around 13.5p, compared to the share price of 3.375p.

Then you have to consider the value of the portfolio, principally comprising of agi-350 targetting a critical unmet medical need relating to the lung.

This programme is coming to the end of pre-clinical trials and is entering a potential value generation phase for the company. This could see the company enter licensing talks and possibly a move into human clinical trials in the remainder of 2011. The company have not released specifics because they are applying for orphan drug status, providing enhanced patent protections and inidicating a potentially high value treatment. So my hunch is that agi-350 could be quite a high value opportunity.

With the share price languishing at just 35% of cash at bank, and just 23% of cash and tax losses estimated value, there is nothing in for the IP on AGI350.

There will come a point in my view when the serious undervaluation switches to an over valuation. From 3p to ??? is the question. But if core assets cash and tax loss estimate are worth 4x the current sp, how much will the share price be worth if a decent AGI350 comes along.

Possibly £20million all in including £6mn cash, £4mn tax loss shield and £10mn for the programme IP?

Just an estimate but a £20million cap would be 30p per share or 9x where we are today!!

Remember the company has plenty of cash so placing fears do not apply imho. And at such a low valuation downside share price risk is limited.

all imho please research this yourself.
Posted at 14/8/2011 13:33 by topinfo
Sooner or late Private Equity firms are going to be snapping up these companies that are valued at a significant discount to cash, its inevitable. Even though the mkt for some reason discounts them to their cash there arent many companies out there that have more cash than mkt cap, and by more we are talking 50-200% more for some.
SEA is 55% discount to cash and assets for free.
AGI is 200% discount to cash and assets/products for free.

So why dont we make some real money. If we can think of it, Im sure there are others doing the sums right now and could make instant profits from just buying out these firms and stripping the cash out of them.

So for instance, seen as most of us cant afford to buy them alone. We get 10 investors to form a takeover group and buy AGI for 6p per share for entire issued share capital, thats 100% premium to current share price We will have already started snapping up shares at these levels. We make £2.2 million from returning cash to shareholders and we also make on the premium on the share price from where we bought in. Thats £220k each plus whatever was put up to aquire the cheap shares too.
Easy eh. And the same can be said for SEA etc, but of course you are talking alot more money in the first place to stump up.
Posted at 11/7/2011 11:35 by christianf12
Interims were 8th September last year so we should at least get an update then. The pr from AGI is pretty shocking I have to say. I don't see the point in having a listing and paying all the associated fees if they are not going to bother updating the market reguarly. Does anyone know how AGI-350 is progressing?
Also, if the market isn't even going to value cash at cash, then whats the point in paying cash for the listing? I would have thought the main aim of a listing was to try and increase the share price and subsequent market value of the company?
What really astounds me is that the board of directors are the main shareholders owning 45% of the company. Wouldn't they want an increase in the share price? You wouldn't think so would you, it's been 3 and a half months since the last update.
Is anyone else starting to think we may never ever get a decent share price here? And by that I mean some value actually attributed to the 9pps of cash and the product AGI-350?
Posted at 29/6/2011 08:38 by christianf12
This is from share tip website www.watshot.com 8 days ago (similar to AGI, they tipped MOS at 4p last year):

AGI Therapeutics (AGI) - Trading below net cash

Drug developer AGI Therapeutics is currently valued at £2.6 million, well below its cash pile of $10 million (as at 31st December 2010). The firm concentrates its efforts in the area of specialty indications with unmet medical needs, with particular focus on treatments for conditions which qualify for Orphan Drug status (i.e. those drugs that are applicable for significant competitive advantages such as exclusivity periods, mainly due to the critical nature of the disease). The firm recently identified a promising new lead product candidate, AGI-350, (described as "a novel presentation of an existing marketed drug which AGI will develop to treat a significant unmet medical need in the critical care setting") for which a programme of pre-clinical testing has commenced. "AGI-350 is specifically formulated to allow effective and efficient delivery of the drug directly to the lung to treat a life-threatening, lung-related, condition. There are currently no formulations of the drug available for inhaled delivery, and AGI believes that AGI-350 will represent the first such approved use of the drug to treat the target critical care population." There are currently major changes underway in the pharmaceutical industry, notably the reduction in large pharma R&D budgets, that will see small biotech come under increasing scrutiny, both from the majors and the market in general. Tucking away a few of these might be a very rewarding punt over the next couple of years or so. The cash burn is around $3 million a year so plenty of space for interest to build here.
Posted at 22/6/2011 08:30 by christianf12
Wouldn't take much effort for a company to aquire AGI, change the focus to say a gold mining company or an oil and gas explorer and the share price would rocket.

Not saying it will happen but whilst the share price is below the cash level, there will obviously be new listers looking for a better oppurtunity than raising funds and diluting existing shareholders.

AGI management and large shareholders would need a sweetner though.
Posted at 23/3/2011 09:27 by topinfo
Great RNS!!

TIDMAGI

RNS Number : 4650D

AGI Therapeutics plc

23 March 2011

AGI Therapeutics, plc

Preliminary financial results for the year ended 31 December 2010

AGI announces new lead programme and provides business update

Enters into development agreement with Aerogen

Dublin, Ireland, 23 March 2011 - AGI Therapeutics, plc ("AGI" or the "Company"), a specialty pharmaceutical company, today reports preliminary financial results for the year ended 31 December 2010, and provides a business update to shareholders.

Financial highlights

-- Cash and short-term deposits at 31 December 2010 of $10.0 million, (2009: $12.0 million)

-- Research and Development (R&D) spend of $1.4 million (2009: $8.3 million)

-- Reduced net loss of $3.6 million (2009: $10.6 million)

-- Loss per ordinary share of 5.3 cents (2009: 15.8 cents)

Operational Summary

In 2010, AGI announced that it would re-focus its research and development efforts in the area of specialty indications with unmet medical needs, with particular focus on treatments for conditions which qualify for Orphan Drug status.

During the year the Company evaluated a number of potential products, both internal and external, which met this criteria. The R&D costs of $1.4 million incurred in 2010 reflect these efforts, which included conducting a number of feasibility studies on potential new pipeline candidates to validate and support further development. Today, as a result of these efforts, AGI is pleased to announce that it has identified a promising new lead product candidate, AGI-350, for which a programme of pre-clinical testing has commenced.

New Lead Development Candidate

AGI-350 is a novel presentation of an existing marketed drug which AGI will develop to treat a significant unmet medical need in the critical care setting. AGI-350 is specifically formulated to allow effective and efficient delivery of the drug directly to the lung to treat a life-threatening, lung-related, condition. There are currently no formulations of the drug available for inhaled delivery, and AGI believes that AGI-350 will represent the first such approved use of the drug to treat the target critical care population.

AGI expects that AGI-350 will qualify for Orphan Drug status, which, if granted, should provide seven to ten years exclusivity post approval in key markets. AGI anticipates the pre-clinical development phase, which includes testing in an established disease model, will be completed during H2, 2011. Depending on the outcome of these studies, AGI plans to prepare and file an Investigational New Drug (IND) application with a view to commencing a proof of concept clinical trial in patients during H1, 2012.

For commercial and intellectual property reasons, the drug name and target indication cannot be disclosed at this time.

Collaboration with Aerogen

AGI is also pleased to announce today that it has entered into a development agreement with Aerogen Limited, to provide specialised aerosol technology for the administration and delivery of AGI-350 to ventilated patients in the Intensive Care Unit (ICU) setting. This collaboration will involve the customisation of Aerogen's proprietary technology for use with AGI-350 in the target patient population.

Commenting on the results, Dr. John Devane, CEO of AGI, said:

"During 2010 we completed a process of rigorous technical and commercial due diligence and identified a new lead programme and direction for the Company. We are also pleased to enter into a collaboration with Aerogen in support of AGI-350 and we look forward to providing further updates on the progress of this programme during the course of this year".

Contact Information:

AGI Therapeutics plc. Tel: +353 1 449 3254
David Kelly, Chief Financial Officer

Davy Tel: +353 1 614 8761
John Frain

For further information: www.agitherapeutics.com

Notes to Editors:
AGI share price data is direct from the London Stock Exchange

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