A Positive Change of Direction for Hemogenyx Pharmaceuticals 

“…We were able to get out of this facility for Hemogenyx without penalty and with a relatively low amount of blood…”

The blip in Hemogenyx Pharmaceutical’s share price was an abberation that corresponded with the convertible loan note conversion news that dogged the stock for three months until now.

A short lived finance facility with Mint Capital has been terminated and additional cash has been raised by way of new share admittance.

Chief Executive Vlad Sandler says about the Mint Capital episode. “I believe that investors will understand in due time how much has been achieved by just holding this money in our hands.”

The facility gave the biopharmaceutical group the cash it needed to progress the development of its leading product candidates CDX bispecific antibody for the treatment of acute myeloid leukaemia, and HEMO-CAR-T.

On the other hand it caused anxiety with Mint Capital being accused of trying to destroy the company with frequent loan note conversions that caused consternation among the investment community and pushed news about scientific developments with key collaborators to the back burner.

It’s over now and valuable lessons have been learned.  The share price valuation is low, but there are undisclosed platforms being worked on by first class researchers in New York and thousands of patients ready for life saving treatments.

Listen to Vlad talk to Sarah Lowther about the company’s $100 humble beginnings to its current conversion from a small company to a fully functional clinical trials entity without a CEO veto in sight. That’s so USSR and not part of #HEMO’s methodology.

Follow the company on its Twitter feed @HemogenyxPharma 

The author was remunerated but does not hold shares in the company