Simple math, that transaction works out to a current pre-approval valuation of TauRx of US$4 Billion.

Here's a recent price mark on TauRx from Dundee Corp (TSX listed and owns 3.2% of TauRx).

"Dundee Corporation (TSX: DC.A) (the “Company” or “Dundee”) announced today that it has sold to a private investor 8,000 of the 1,015,008 shares it holds in TauRX Pharmaceuticals Ltd. (“TauRx”) at a price of US$125 per share for proceeds to the Company of US$1,000,000. The transaction remains subject to TauRx board approval. Following the completion of the transaction Dundee will continue to hold 1,007,008 TauRx shares."

https://dundeecorporation.com/news/dundee-corporation-announces-the-sale-of-8000-sha-9542/

On March 12, 2024 the FDA updated early Alzheimer’s drug development guidance to add support for biomarkers, surrogate endpoints. Timely development for TauRx.

Background

FDA is announcing the availability of a revised draft guidance for industry entitled “Early Alzheimer's Disease: Developing Drugs for Treatment.” This draft guidance is intended to assist sponsors in the clinical development of drugs for the treatment of the stages of sporadic AD that occur before the onset of overt dementia. This draft guidance revises the draft guidance for industry entitled “Early Alzheimer's Disease: Developing Drugs for Treatment” issued February 16, 2018 (83 FR 7060), and reflects FDA's consideration of public comments on the draft guidance. This revision describes FDA's current thinking regarding the use of biomarkers for the selection of participants with early stages of AD for enrollment in clinical trials, the selection of outcome measures for clinical trials in early AD, and the use of effects on characteristic pathophysiological changes of AD to support approval in these populations.

https://www.federalregister.gov/documents/2024/03/12/2024-05178/early-alzheimers-disease-developing-drugs-for-treatment-draft-guidance-for-industry-availability


A general section on outcome measures has been changed in the latest revision, now incorporating descriptions surrounding the use of co-primary endpoints and cognition originally found in the background section the 2018 draft guidance. The outcome measures section contains subsections describing clinical endpoints, time-to-event analysis, and surrogate endpoints.

“Sponsors considering the use of a biomarker as the primary measure of effect should discuss their plans with FDA early in development,” FDA wrote. “In general, even if accelerated approval is considered as the initial approval pathway, clinical outcome assessments should be included in clinical trials for early AD to assess early clinical changes that may potentially provide support for any changes observed on biomarkers.”

https://www.fda.gov/regulatory-information/search-fda-guidance-documents/early-alzheimers-disease-developing-drugs-treatment

Interesting article on HMTM/TauRx with some independent views...

https://www.globaldata.com/media/pharma/taurxs-hmtm-become-first-oral-dmt-targeting-tau-alzheimers-disease-says-globaldata/

Interesting article on HMTM/TauRx with some independent views...

https://www.globaldata.com/media/pharma/taurxs-hmtm-become-first-oral-dmt-targeting-tau-alzheimers-disease-says-globaldata/

Interesting article on HMTM/TauRx with some independent views...

https://www.globaldata.com/media/pharma/taurxs-hmtm-become-first-oral-dmt-targeting-tau-alzheimers-disease-says-globaldata/

ATK, most of my Dundee position is in the pref shares (10% yield plus 70 capital gain of the past 5 yrs). Any views on timing of TauRx regulatory conclusions?

Any views on the timing TauRx regulatory conclusions? I think TauRx management said they will be completing FDA and European regulatory submissions in 2023.

Can you share any details on the different rights of the various share classes? ... Particularly in a sale, IPO, liquidation or similar.

Thanks so do the other preference shares have priority over the ordinary shares on sale, IPO, liquidation etc.? Or is it just greater voting rights?

From what I can see preference shares don't have any priority over ordinary shares in a liquidation/sale event and convert to ordinary shares on large financings or regulatory approvals (which is what matters). Here's some disclosure from Dundee...

In order to fund the new study and bolster its cash reserves, TauRx negotiated an investment from an existing shareholder through the issuance of a new class of preference shares in the company. The investor subscribed for 500,000 class B preference shares at an aggregate subscription amount of US$100 million or US$200/share. The new class of preference shares does not have any liquidation preferences but conveys to the holder a call option to acquire commercialization rights for LMTX® over certain territories in Asia. The preference shares are convertible to ordinary shares on a one-to-one basis upon the attainment of pre-specified regulatory and/or listing objectives alongside the injection of a further material amount of cash. The investment was made in three tranches with the initial tranche (350,000 shares/US$70 million) completed in January 2020, and the final two tranches (totalling 150,000 shares/US$30 million) completed in August 2020.
TauRx is actively engaged in negotiating commercialization rights with partners in other territories. In June 2020, TauRx
announced that it had signed a term sheet with Mediforum Pharmaceutical Co. Ltd (“Mediforum”), giving the Kosdaq-listed company rights to acquire publishing, manufacturing and intellectual property rights in Korea for LMTX®. In October 2020 and
as part of the deal terms, Mediforum acquired 25,000 shares of TauRx for US$5 million.

Thanks that is helpful data. Dundee Corp on the Toronto Stock Exchange (TSX: DC.A) owns 3.2% of TauRx. If the USD$200 price is real, Dundee's investment in TauRx is worth 3x Dundee's current market cap. Dundee is currently carrying it's TauRx investment at US$45 they hold just over 1M TauRx shares.

https://themalaysianreserve.com/2022/10/19/genting-to-hit-jackpot-from-taurx/

“From other channel checks, we understand that TauRx shares are now transacting at a much higher US$200-US$300 each. We are told that since not all shareholders participated in the aforementioned rights issue and thus, did not receive the warrants, Genting may effectively get to raise its shareholding in TauRx from 20% for cheap,” it said.

Can anyone else verify these prices? and shed any light on their validity?

We are Taurx shareholders for a long time n we know the privately done transacted market prices. Was usd150/share 3 months ago, now at minimum usd200/share after NfL data. Buyers are expecting this NfL data to substantially improve our chance of securing FDA AA (see Tofersen's case link) + more upside next year during China deal.
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Thanks. Where/how are these private transactions reported to TauRx shareholders? When was the last transaction, price, number of shares?

Where are you seeing these prices/transactions for TauRx shares at US$200 - US$250?