PYC - PYC THERAPEUTICS LIMITED

[ShareCafe]

Upcoming Float:

Phylogica Limited (PYC)

 

Thankyou

Sharescene.com

[crowman28]

A bit of interest in this new stock. Anyone following it?

[crowman28]

Speaking of which, not much stock is on offer. BTC is a large shareholder in this company, so it installs a lot of confidence.

 

DYOR

[Lionhearted]

In reply to: crowman28 on Friday 01/04/05 02:57pm

 

This is certainly an amazing share performance for a float given all the profit taking around.

 

Looking at Prospectus at www.phylogica.com - all the people surrounding it look very classy

 

- A former Bristol Myers head as Chairman

- Australian of the Year, Fiona Stanley

- John Poynton

- Biotech Capital

- Fox Chase Cancer Centre

- and the CV's of scientists and advisory board look very impressive

 

Appears to be a drug discovery company that concentrates on proteins and peptides to slow growth of diseases, rather than being chemicals focussed like most pharma companies.

[awol]

QUOTE (simple @ Friday 01/04/05 04:58pm)

Yes simple, this one has class written all over it.When many floats lately have been struggling, this one is behaving like a melbourne cup winner.It listed during the asx's biggest fall for quite a while but it's inherent strength shone thru, and continued today.Good enough for me to get involved.

[crowman28]

Phylogica Limited (PYC) opened today at a 35% premium to its issue price in its ASX debut. The junior biopharmaceutical companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s shares listed at 27.5c, 7c above its oversubscribed IPO price of 20c, and reached a high of 29c in morning trade.

 

 

The Perth-based groupÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s offer of 25 million shares to raise $5 million was heavily oversubscribed.

 

Phylogica, which owns a unique collection of proteins called Phylomers, is the first company to be spun out from Telethon Institute for Child Health Research. The Institute will remain a substantial shareholder in Phylogica.

 

Key investors in the float included publicly listed Biotech Capital Limited (BTC), and the Australian Heritage Group. The majority of remaining shareholders include investor clients of Azure Capital and various broking firms.

 

Phylogica advised that IPO funds would be used to develop leading drug candidates, licensing and protection of the company's intellectual property.

 

[crowman28]

In reply to: awol on Friday 01/04/05 09:00pm

If they can get some licensing soon for its technology, then it will be great for the company.

 

Only 25 million tradeable shares, so it is definitely tightly held.

 

One for the bottom drawer for sure!

 

The only new star in the biotech sector perhaps?

[awol]

In reply to: crowman28 on Saturday 02/04/05 12:58am

I readily admit my ignorance of PYC's tech, crowman, but i remember reading that the oversubscription was up there with the best on record ,or words to that effect, thus my initial interest(!). The subsequent price action on debut, during the worst week for ???long , was evidence enough to get me on for the ride.Why fight such strength?May buy more monday.

cheers

 

[crowman28]

In reply to: awol on Saturday 02/04/05 04:40pm

I admit it is hard to estimate how much revenue they plan to generate from their technology.

 

This may be all hype at the beginning I guess. But the funds like it, so stay with the force for the time being.

 

Technically it should be a great sign if it can hold above 30 cents for a few days.

[crowman28]

Profit takers in force today. Looks like there is a lot of resistance at 30 cents, despite not many sellers lining up.

 

Keep it on the watchlist for the next few days.

 

A break at 30 cents will mean further upside.