Announcement • Mar 13
Exopharm Limited, Annual General Meeting, Apr 11, 2024 Exopharm Limited, Annual General Meeting, Apr 11, 2024, at 14:00 E. Australia Standard Time. Location: The offices of Bio101 Financial Advisory Pty Ltd, Suite 201, 697 Burke Road, Camberwell VIC 3124 Victoria Australia Agenda: To consider Consolidation of Capital; to approval to change in nature and scale of activities; to consider Election of Director's; to approval to issue Public Offer Shares; to approval to issue Consideration Securities; to Approval to issue Debenture Securities; to approval to issue Director Conversion Securities; to approval to issue Lead Manager Options; and to approval of potential termination benefits under the New Plan. Announcement • Dec 12
Exopharm Limited (ASX:EX1) entered into a definitive agreement to acquire Tryp Therapeutics Inc. (CNSX:TRYP) for CAD 7.2 million. Exopharm Limited (ASX:EX1) entered into a definitive agreement to acquire Tryp Therapeutics Inc. (CNSX:TRYP) for CAD 7.2 million on December 8, 2023. Pursuant to the agreement Exopharm has agreed to acquire all of the issued and outstanding common shares in the capital of Tryp (the “Tryp Shares”) in consideration of the issuance of 4.52 ordinary shares in the capital of Exopharm (the “Exopharm Shares”) for each one (1) Tryp Share. Pursuant to the arrangement agreement, holders of convertible securities of Tryp, including stock options, common share purchase warrants, secured convertible debentures and unsecured convertible notes (collectively, the “Tryp Convertible Securities”) will receive replacement securities of Exopharm having substantially similar economic terms in accordance with the rules of the ASX. The purchase price of CAD 0.08 per Tryp Share and aggregate transaction value of approximately CAD 12.8 million. The majority of the directors of the combined entity to be appointed by Tryp. The combined entity is expected to relist on the Australian Securities Exchange (the “ASX”) in Q1 2024 subject to, among other conditions, receipt of the requisite approval of Exopharm shareholders and raising a minimum of AUD 6,000,000 under a public offering.
The Arrangement is subject to customary closing conditions, including approvals from Tryp securityholders and Exopharm shareholders, all other applicable third party, regulatory consents for the Arrangement, no more than 10% of the Company's shareholders exercising their rights of dissent in connection with the Arrangement, approvals from the ASX and the Supreme Court of British Columbia (the “Court”). Both the Board and the Special Committee unanimously recommend that Tryp securityholders vote in favor of the Arrangement.
Pushor Mitchell LLP acted as legal counsel to Tryp in Canada and K&L Gates LLP acted as legal counsel to Tryp in Australia in connection with the Arrangement. Osler, Hoskin & Harcourt LLP acted as legal counsel to Exopharm in Canada and Hamilton Locke Pty Ltd acted as legal counsel to Exopharm in Australia. ACNS Capital Markets Pty Ltd trading as Alto Capital acted as Exopharm’s corporate advisor in connection with the arrangements. Announcement • Nov 29
Exopharm Limited Announces Ian Dixon's Employment as CEO Expects to End in Early Calendar Year 2024 Exopharm Limited announced further management changes. With most of the planned outcomes fully achieved and reduced day-to-day executive demands, Dr. Ian Dixon, Founding Chief Executive Officer, employment as CEO is expected to end in early calendar year 2024. Dr. Dixon and the Company have determined to make the following changes: The Company has given Dr. Dixon the required 6-months' notice of termination of his role as Chief Executive Officer; Dr. Dixon will continue as CEO until the end of his notice period, or such other earlier date as may be mutually agreed; Dr. Dixon remains a Director of the company. Announcement • Oct 19
Exopharm Limited, Annual General Meeting, Nov 23, 2023 Exopharm Limited, Annual General Meeting, Nov 23, 2023, at 12:00 AUS Eastern Standard Time. Location: Level 5, 126 Phillip Street Sydney New South Wales Australia Agenda: To consider adoption of remuneration report; to consider election of Clarke Barlow as director; to consider election of Mark Davies; to consider ASX Listing Rule 7.1A Approval of Future Issue of Securities; to consider approval of Issue of Director Options to Clarke Barlow, Director of the company; and to consider approval of Issue of Director Options to Mark Davies, Director of the Company. Reported Earnings • Aug 30
Full year 2023 earnings released: AU$0.036 loss per share (vs AU$0.064 loss in FY 2022) Full year 2023 results: AU$0.036 loss per share (improved from AU$0.064 loss in FY 2022). Revenue: AU$3.41m (down 19% from FY 2022). Net loss: AU$7.13m (loss narrowed 29% from FY 2022). New Risk • Aug 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (180% increase in shares outstanding). Market cap is less than US$10m (AU$3.52m market cap, or US$2.27m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Revenue is less than US$5m (AU$6.4m revenue, or US$4.1m). Announcement • Jun 22
Exopharm Limited Announces Executive Changes Exopharm Limited appointed Mr. Mark Davies as Chair and Independent Non-Executive Director effective immediately. Mark is Founder and Managing Director at 1861 Capital and has been an investor in Exopharm since the IPO in 2018. Mark has a Bachelor of Commerce from the University of Western Australia and is Non-Executive Chairman of Neurotech International, a drug development company focused on utilising NTI164 in the treatment for paediatric neurological disorders including Autism Spectrum Disorder (ASD). Mark's appointment to the Board brings further financial and equity capital markets experience to the Company and adds to the appointment of Mr. Clarke Barlow, another financial markets person, to the Board in February 2023. Further to the above, the Company further advises that Mr. Jason Watson has resigned as the Company's inaugural Chair and Independent Non-Executive Director. Jason was appointed Chairman prior to the IPO in 2018 and has helped steer the Company through various stages and challenges since that time. With these changes the Board will continue to comprise three members, to contain costs whilst maintaining the minimum number - Mark Davies, Clarke Barlow and Ian Dixon. Recent Insider Transactions • Feb 16
Insider recently sold AU$168k worth of stock On the 13th of February, Carl Charalambous sold around 10m shares on-market at roughly AU$0.017 per share. This transaction amounted to 65% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought AU$907k more than they sold in the last 12 months. Announcement • Feb 14
Exopharm Limited announced that it expects to receive AUD 0.6 million in funding Exopharm Limited announced a private placement of Convertible Note for proceeds of AUD 600,000 on February 13, 2023. The note contains no interest. The transaction is subject to Shareholder and Australian stock exchange approvals. The Convertible Note converts at a 20% discount to the Entitlement Issue price, subject to the full Entitlement Issue being completed. Announcement • Dec 21
Exopharm Limited Announces Resignation of Elizabeth McGregor as Non-Executive Director Exopharm Limited announced that Ms. Elizabeth McGregor, non-executive Director since 5 January 2021 has resigned from the Board effective from 20 December 2022. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non Executive Director & Member of Scientific Advisory Board Jenn King was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Oct 26
Insider recently bought AU$197k worth of stock On the 21st of October, Carl Charalambous bought around 1m shares on-market at roughly AU$0.15 per share. This transaction amounted to 9.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$912k more in shares than they have sold in the last 12 months. Announcement • Sep 28
Exopharm Limited Announces Study Results Indicate Exosomes Safe for Clinical Pursuit Exopharm Limited announced positive data from an expert animal study conducted by an external group to assess immunogenicity and toxicity of Exopharm's exosomes. Validation of Exopharm's technology further progressed: As mentioned in the Company's Quarterly Activities Report, a batch of exosomes had been manufactured and characterised to support Exopharm's testing of naïve exosomes - a prerequisite for later human studies. As planned, an animal study to test LEAP purified exosomes for safety and immunogenicity has now completed dosing. The interim study results show that repeated dosing of the exosomes was safe and did not generate an immune response despite up to 10 doses of around 3.4 billion particles per dose over 23 days. Exosomes as a drug-delivery `chassis' hold the prospect of being seen by the person's immune system as harmless and could be dosed many times (they have low immunogenicity). These study results lend support to this thesis. The positive results back the use of exosomes made from Exopharm's producer-cells and purified by its patented LEAP purification process as a safe and well-tolerated alternative to viral vectors (adeno-associated virus [AAV]) and lipid nanoparticles [LNPs]. Using exosomes as a carrier of the active pharmaceutical ingredient (API) is core to Exopharm's present strategy. Showing that the exosome carrier is 'silent' to the recipient's immune system and non-toxic are important steps in that strategy. The results from this study indicate that Exopharm's exosomes have these all-important attributes. Key details and outcomes of the study: HEK-293 cells were cultured by Exopharm to produce naïve (no engineering of the cells) exosomes. These exosomes were then purified using Exopharm's LEAP technology at its research centre. At University of Queensland, around 3.4 billion particles in 100 millionths of a litre (100µL) liquid of solution were injected intravenous under anaesthetic into a cohort of healthy adult wild-type mice at each dosing. Other mice in the study received the same volume of a control substance PBS (phosphate-buffered saline). Another small cohort of mice were administered LPS (Lipopolysaccharide) systemically to create a positive control and for assay validation. Dosing was over 23 days and there was a total of 10 doses per mouse. Preliminary data obtained included body and organ mass, gross necropsy, haematology, and spleen-cell immunophenotyping - all of which confirmed the absence of an immune response or detectable toxicity levels. The study was performed under ethics approval (University of Queensland Animal Ethics Committee (AE000938)) and animals were monitored for changes in behaviour and health. In the context of this study, immunogenicity is the ability of the animal's immune system to detect and mount an adverse immune response against the foreign exosomes that were administered. For a drug-delivery technology for therapeutic products, the ideal outcome from such a test is that the exosomes are not subject to an adverse host immune response - which is the outcome seen in these preliminary results. The key conclusion from the preliminary data from this study is that the exosomes are not immunogenic or toxic and the product and the manufacturing process are suitable for clinical pursuit. This study is a further important step towards the successful development of engineered exosome products. Announcement • Sep 09
Exopharm Limited, Annual General Meeting, Nov 24, 2022 Exopharm Limited, Annual General Meeting, Nov 24, 2022. Recent Insider Transactions • Jun 02
Insider recently bought AU$178k worth of stock On the 30th of May, Carl Charalambous bought around 993k shares on-market at roughly AU$0.18 per share. In the last 3 months, they made an even bigger purchase worth AU$700k. Insiders have collectively bought AU$732k more in shares than they have sold in the last 12 months. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non Executive Director & Member of Scientific Advisory Board Jenn King was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Mar 24
Insider recently bought AU$700k worth of stock On the 15th of March, Carl Charalambous bought around 2m shares on-market at roughly AU$0.41 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$553k more in shares than they have sold in the last 12 months. Announcement • Sep 27
Exopharm Limited Announces Further Step Towards Granted US Patent for its LEAP Technology Exopharm Limited has made a further step towards a granted US Patent for its LEAP technology. Exopharm has been alerted to the web site of the United States Patent and Trademark Office (USPTO) about the company's LEAP patent application and the further progress of that patent application (Application 17/147,033) (Application) under the United States National Phase. Upon inspection, the USPTO web site shows that the Examiner has upgraded the Application to `Notice of Allowance Mailed', indicating that the Examiner has accepted recent amendments to the Application, sees the Application as meeting their requirements and is ready to issue the requested patent (subject to some further steps and payment of fees). At this point a USPTO patent number has not been issued in relation to the Application and there are some formalities that need to be completed. Normally the US Patent would be issued around 8 weeks after the marked publication date (date which has not yet been set) and the payment of a fee by the Company to the USPTO. Upon publication the Application is open to objections by other parties. Normally the Company would make an announcement - giving patent number, the expiry date and its importance - upon the final grant of a patent, immediately upon completion. However, the Company wanted to ensure that this information was broadly available. Announcement • Apr 21
Exopharm Limited announced that it expects to receive AUD 12 million in funding Exopharm Limited (ASX:EX1) announced a private placement of 16,666,667 shares at a price of AUD 0.72 per share for gross proceeds of AUD 12,000,000 on April 20, 2021. The transaction will include participation from new and existing institutional, sophisticated investors. The transaction was oversubscribed its minimum target of AUD 6 million. Out of 13,941,366 shares will be issued under the company’s listing rule 7.1A capacity and 2,725,301 shares will be issued under the company’s listing rule 7.1 placement capacity. The transaction is expected to close 27 April 2021. The company will pay 6% fees as brokers fees. The company is subject to receive approval from the shareholder of the company. Is New 90 Day High Low • Feb 08
New 90-day high: AU$0.82 The company is up 145% from its price of AU$0.34 on 10 November 2020. The Australian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 8.0% over the same period. Announcement • Jan 22
Exopharm Limited Announces Progress Points to Partnering Readiness Exopharm Limited is a clinical stage company at the forefront of developing transformative medicines based upon exosomes (EVs). Dosing of the 11 participants in PLEXOVAL II has completed and final follow-up medical appointments with all test subjects are also completed. No adverse events related to the treatment using Plexaris or the placebo were reported. The data will now be analysed by an independent third party with final results expected by around March 2021. Engineered EV (EEVs) are a way to deliver important new drugs and overcome limitations of other delivery technologies. EEVs can be designed and made to deliver drugs (such as mRNA or proteins) to specific cell types - a trait referred to as `tropism'. Exopharm's EVPS technology patent for tropism has been granted by the US Patent and Trademark Office. EVs are of interest to biopharmaceutical and big pharma companies as solutions to the delivery problems they experience with many drug candidates. Using EVs as an improved delivery vehicle could `unlock' previous investments in unsuccessfully delivered drugs. Exopharm's recent partnering discussions cover the use of its EEV technologies and use of its LEAP manufacturing technology. To support potential partners with operations in Europe, Exopharm is establishing a wholly-owned Swiss entity, Exopharm GmbH, in Basel, Switzerland and locating two of its people in Europe. Since Exopharm's in-depth presentation of the LEAPTM technology at the Exosome Based Therapeutic Development Summit in November 2020, discussions with collaborators and business partners have accelerated. In January and February Exopharm will be presenting its business and science to audiences in Japan, the UK, the US and Australia. Is New 90 Day High Low • Jan 15
New 90-day high: AU$0.62 The company is up 107% from its price of AU$0.30 on 16 October 2020. The Australian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 9.0% over the same period. Announcement • Jan 05
Exopharm Limited Announces Board Changes, Effective 5 January 2021 Exopharm Limited announced that Mr. David Parker has resigned as a Director of the Board and is replaced by Ms Elizabeth McGregor. Ms. Elizabeth McGregor from the Automic Group has been appointed as the replacement Director and also as Company Secretary, replacing Ms Sinead Teague. Elizabeth is Company Secretary for a number of ASX listed entities. Ms. Sinead Teague has resigned as Company Secretary of the Company following her planned departure from the Automic Group. All changes are effective 5 January 2021. Is New 90 Day High Low • Dec 24
New 90-day high: AU$0.41 The company is up 39% from its price of AU$0.29 on 25 September 2020. The Australian market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is down 3.0% over the same period. Is New 90 Day High Low • Nov 18
New 90-day high: AU$0.40 The company is up 33% from its price of AU$0.30 on 20 August 2020. The Australian market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is flat over the same period. Is New 90 Day High Low • Oct 23
New 90-day high: AU$0.37 The company is up 23% from its price of AU$0.30 on 24 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Biotechs industry, which is up 7.0% over the same period. Announcement • Aug 27
Exopharm Limited announced that it expects to receive AUD 10 million in funding Exopharm Limited (ASX:EX1) announced a private placement of 41,666,667 shares at a price of AUD 0.24 per share for gross proceeds of AUD 10,000,000 on August 27, 2020. The transaction will take place in two tranches, tranche 1 will comprise of 23,868,000 shares for gross proceeds of AUD 5,728,320 which is expected to close on September 8, 2020 and the tranche 2 will comprise of 17,798,667 shares for gross proceeds of AUD 4,271,680.08 which is expected to close on October 16, 2020 and is subject to shareholder approval at a general meeting that is anticipated to be held in mid October 2020. The transaction will include participation from new and existing institutional, sophisticated and high net worth investors. 