Myles McNulty Profile picture
Nov 23, 2019 12 tweets 8 min read Read on X
Some excellent moves in the PF this week:

ST trades in each of #TRX and #XSG reduced, as they had increased so quickly (~150% and 66% respectively). Balances of positions to be held until ~2p for each stock, but will revise accordingly, keeping a close eye on momentum. 1/12
Two new modest ST trades opened yesterday PM, 200k shares in each: #CIR and #C4XD (both ~17.5p av. entry). Primarily capitalising on community's (and my) recent success in trading up Woodford/Invesco calamities (TRX and XSG!). Both now enjoy solid fundamentals - valuations...2/12
...much more attractive now, with both #CIR and #C4XD SPs having been decimated this year. Moreover, they now enjoy the backing of retail. Fundamentals combined with sentiment = crucial.

ST trade (but happy to hold as a LT investment) opened in #DKL too. Very cheap CPO biz..3/12
...with solid growth potential. 2nd producing asset coming online H2'20 (cashews) provides key diversification for #DKL. Trading on sub 3x 2020 PER. Position small currently, as stock is very tightly held.

Took more #ALM (ST trade). Av = 49.6p. CA stepping up their assault! 4/12
#PTAL reluctantly exited, in line with aim to be fossil fuel-free ASAP. 29% profit so reasonably happy. Remains one of the cheapest plays on the LSE.

#JKX av. 30p, so nicely underwater🙄. Waiting for 33p+ for exit. NG looking healthier, confident an exit opp will come soon. 5/12
Remaining FF holdings:

#I3E: big week next week. Stated my strategy here already. Av. 36p. If Lib is a success, will exit on volume. If Lib fails, will double down on SP crash and await the buyout by RRE (for Ser. alone).

#RRE: $1.2bn offer made, and SP hasn't budged?! 6/12
#RRE would have been obliged to show source of funds to vendor. Doesn't seem many have considered this. AA has major financiers onside. Imagine landing a $1.2bn deal without dilution to the equity base! For those microcap investors who aren't holding RRE - ask yourselves why 7/12
Happy with LT investments in EV/green metal plays, #MKA #HZM #ACP. Expecting more news from the latter two over the next two months (esp. re offtakes, and possibly financing). Particularly relieved to see Ni bounce on Friday after its alarming drop since the $18k high. 8/12
LT investments in #ARB and #SAE doing dismally, SP-wise. Operationally, very happy with progress at both. Value shines through eventually.

ARB being pinned back by sellers and a crash in . Still generating serious cash though.

SAE: looking for a partial disposal of Usk 9/12
Nanocap / <£5m high risk speculative plays include: #BAGR #DKE #STAR #CYAN #N4P. Some ST trades, some LT investments. Positioned accordingly for total wipeout - but of course, returns from such miniscule bases could be multiples (if mgmt. gets it right!!). 10/12
#EUA - doing its thing. I still see many calling it a spoof... And I still suggest a firm offer will land pre-Christmas. Remaining holding approaching 600% gain now. Great to see Pd back above $1,750 - got to be helping in negotiations. 11/12
SIPP holdings include #AFHP and #EVRH. Both absolute bankers as takeover targets, in my view. 12/12

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More from @MylesMcNulty

Mar 30, 2023
@GarethP76 @Ophidian18 @RAH00084 This is where there is confusion amongst the #AVCT shareholder base.

Many think that the sell-off has been due to poor comms. That is not the case.

The sell-off has primarily been due to fear, driven by rumour (that of course has not been worded publicly), that @avacta...

@GarethP76 @Ophidian18 @RAH00084 @avacta planning another major Diagnostic acquisition, that would result in further equity dilution.

There has been a concern that #AVCT has not been planning its capital allocation sensibly.

Rumour-mongering starting around SD of such a deal completely negated the epic...

@GarethP76 @Ophidian18 @RAH00084 @avacta published at SD.

Mgmt has been under immense pressure from SHs in recent weeks to focus cash reserves on #AVCT Tx.

Through extensive conversations, my view is that they have listened. They are acutely aware that the value upside in Tx is of course infinitely...

Read 9 tweets
Jan 17, 2023
#AVCT's update today is without doubt the most significant RNS I have ever read, from any company.

Update note in the coming days, but here are some initial thoughts.

Firstly - what many want to hear - the SP at 155p (mkt cap £412m).

In my view, this will not last long. 1/20
There are many stale holders who have been underwater for 18+ months, who will be happy to take some cash out now, in this ongoing cost of living crisis. That is understandable.

There will also be traders exiting, having positioned for this update.

Furthermore, the...

...wider investment community has not yet heard of, and even more so not appreciated the significance of, today's news at #AVCT.

Finally, I will state with a high degree of confidence that today's RNS opens the floodgates for numerous more updates in the near future.

Read 20 tweets
Nov 18, 2022
Trading PF update:

#HARL (5.9p entry)
#PREM (0.45p)
#ALK (120p)
#MKA (13.3p)
#BSFA (8.6p)
#CGO (6.40p)
#BOIL (0.13p)

#MMAG (+86%)
#INCE (flat)
#SPEC (+30%)

Reduced (not exited) HARL over past 24h, best return (% and £-wise) YTD.

[Entries/exits in timeline]

Volume returning really nicely to the small cap space, which is creating excellent trading conditions.

My average holding period in the Short-term Trading Portfolio is still around 16 sessions / 3 weeks.

Seemingly contrary to many, I consider trade entries based both on..

...fundamentals (see two recent successful trades in MMAG and SPEC, with rationales for trades founded on earnings metrics), and on stories and associated sentiment (BSFA being most recent example).

I don't subscribe to only utilizing one or the other; the same way as I...

Read 18 tweets
Sep 6, 2022
@AnEarlofWisdom Hi Earl, I can't see any of the posts, as I'm blocked by those accounts (or I've blocked!), but I've been told there's a lot of scaremongering about various things:

1) Delay in trial;
2) Dox not activating much in TME;
3) Low cash balance, and thus possible placing coming.

@AnEarlofWisdom On the contrary, except for Cohorts 1 and 2 taking longer than expected (due to patient withdrawals - nothing whatsoever to do with #AVA6000 itself), #AVCT's progress in 2022 could not be stronger.

The DE to 200mg/m2 was the ultimate target, so that nullifies point 2) ⬆️.

@AnEarlofWisdom Licensing deals for targeted oncology drugs - even those at pre-clinical stage, like 3996 - have been monstrous in recent times (e.g. $100m cash upfront for an antibody-drug conjugate, just last month ⬇️).

#AVCT has referenced...

Read 8 tweets
Aug 24, 2022
Dare I say a major #AVCT rerate is (at last!) at hand?

Genuinely company-defining news could be landing over the coming weeks.

The question that is shortly to be answered:

Is @avacta's preCISION platform working in man?

If it is, the superheavyweights of Pharma move in.

I have said all I need to, on #AVCT's preCISION platform, here ⬇️:

Since that note, a third cohort has been launched in the AVA6000 trial, with a further considerable dose increase (+33%).

My view is that they stop here. The specificity of the...

...substrate to FAP is so high that the concentration ratio of active doxorubicin in the tumour : healthy tissue, will negate the requirement for increase in dose size. [My view!]

Enough dox is already becoming active in the tumour micro-environment, at the current...

Read 8 tweets
Jul 8, 2022
Whilst many scream, "avoid loss-making growth stocks like the plague!" (e.g. #AVCT!)...

@Merck ponders a $40bn T/O of oncology-focussed biotech, @SeagenGlobal.

In 2021, Seagen made a loss of $0.67bn, on revs of $1.57bn.

'22 rev forecasts: ~$1.7bn.

$SGEN specializes in antibody-drug conjugates ('ADC') - a relatively novel form of targeted cancer treatment.

@avacta's targeted cancer treatment platform, preCISION, has the real potential of generating pro-chemotherapies that are MORE targeted than ADCs, and thus...

...also potentially capable of delivering a more potent drug payload.

#AVCT will be announcing the results of the first preCISION prodrug P1 trial (AVA6000) in the next few months.

Success will mean the platform could be used to modify many other existing chemotherapies.

Read 6 tweets

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