Dear Pharmacyte,
Thankyou for your reply to my email.
I am aware from the ihub site that a number of shareholders have not received email replies from the company including me. And a friend of mine who is also a shareholder has not received a reply to the email he sent you. Have you recently checked that emails from your website go to the company ?
Who answers the ir emails for the company?
Does the company really have so little new information that the only information you can offer shareholders was included in the prs you have issued since the last cc?
What about cabbinoids, ascites, diabetes? No progress at all there? What about the appointment of the CRO? What about mellingen cells?
Information which is not in the public domain might include answers to questions such as these:
1. How often does the board meet?
2. Are you are progressing with clinical trials for ascites and diabetes and who is conducting those trials? What is happening with Mellingen cells and are they being reengineered’. Was there a problem with freezing Mellingen cells? What trials are planned or underway for the testing of insulin producing cells other than Mellingen cells for diabetes?
3. Are you still having discussions with foundations to attract funds for the development of the company’s treatments? Why haven’t those discussions resulted in funds for the company? A competing company called viacyte has attracted substantial funding without submitting an ind for its diabetes trials. Why hasn’t Pharmacyte attracted any foundation funding?
4. Why do you sell tens of millions of PIPE shares for a third of the atm price to raise funds rather than offer shares at these heavily reduced prices to existing shareholders?
5. Is a company called citadel securities a purchaser of PIPE shares from Pharmacyte?
6. On what dates did the company sell Pipe shares and in what lots were they sold?
7. Has the company chosen it’s CRO?
8. Is the company in contact with jdrf and have you been involved or invited to any of their encapsulation conferences?
9. Did the company do anything for pancan this year?
10. What public relations work is the company doing to raise its public profile and to attract new investors?
11. What work is Alan Morell doing for the company? Why haven’t we seen any results from his engagement in the mass media in which the company says he has regular contact?
12. How often are Pharmacyte staff at the offices? What office staff does Pharmacyte have? Who answers the phones and replies to emails?
13. What is the current membership of the board? Is Thomas Liquard still a board member?
14. Why wasn’t a shareholder vote taken about the increase in remuneration to Pharmacyte management?
15. Has any progress been made on the company’s ‘Asia strategy’ which was announced when Dr Tong joined the board.
16. What is the company’s Asia strategy?
17. Why is there no shareholder representative on the Pharmacyte board?
These are all matters which the prs have not addressed.
Quarterly updates and a regular shareholder meeting offer shareholders the chance to speak with their ceo and be reassured about the company and give them a chance to express their appreciation or concerns, especially about the dilution of their shares.
After the last cc when shareholders learnt for the very first time about serious setbacks the company had experienced in its cell banks causing long delays in submitting an ind, and which might have resulted in the failure of the company’s plans to progress to a phase 2b trial, as well as the loss of td2 as our CRO, it is natural for shareholders to feel concerned that there may be other issues the company has not told them which could be material to their investment. Are there? Well, without quarterly updates, we just don’t know. And that’s not in the best interests of the company or its shareholders. As the company didn’t communicate these matters to us until many months later, it is understandable that shareholders like me should feel critical of the team and question their ability, stamina and fitness for the job? This doesn’t mean I don’t support the company but it does mean I have serious concerns about the way the company is run and the lack of communication. Answering those concerns at a shareholder meeting is the best way to put them to rest or have them dealt with.
The failure to have quarterly updates for shareholders appears as though the company doesn’t care about its shareholders and doesn’t see the need to be in touch with them.
I invest in a number of emerging biotech companies and they have regular shareholder meetings to discuss PIPE issues, fundraising and to update their shareholders on progress.
I believe Pharmacyte shareholders deserve the same respect and attention. Regular updates are more than regurgitation about matters in the public domain, they are a vital part of the company’s communication with its owners. They offer reassurance and contact and a chance for shareholders to provide feedback to management and even offer suggestions for new ways the company might progress or promote itself.
I am saddened that you don’t appreciate the opportunity that regular communication with your shareholder’s could offer.
As there are clearly a number of issues that shareholders could be updated about which haven’t been updated by your prs, I ask you to arrange a shareholder meeting which is live streamed so that shareholders can ask the Pharmacyte ceo about questions they have and have them answered while other shareholders are online.
This is normal company practice now in small biotech’s in which I am an investor.
I think Pharmacyte has licenses to the most amazing technology and It can offer a very valuable pre operative treatment and a possible ‘cure’ to those suffering from diabetes. I am just asking you to communicate better about how you are all working to make this happen. This is in everyone’s best interests.
At the very least, in this age of internet communication, couldn’t you spare a couple of hours each month to speak online to your shareholders and discuss the company’s progress with them? The goodwill and reassurance this would generate would be very valuable.
And in everyone’s best interests.
Kind regards,
