Quest Pharmatech Inc V.QPT

OncoQuest Pharmaceuticals Inc. Doses First Patient in Ph 3

[G1945V]

November 9, 2020:

Quest Announces that OncoQuest Pharmaceuticals Inc. Doses First Patient in Phase 3 Clinical Trial, FLORA-5, of Company's Lead Investigational Drug, Oregovomab, in Frontline Ovarian Cancer and appoints Dr. Sunil Gupta as Chief Medical Officer.

https://www.prnewswire.com/news-releases/quest-announces-that-oncoquest-pharmaceuticals-inc-doses-first-patient-in-phase-3-clinical-trial-flora-5-of-companys-lead-investigational-drug-oregovomab-in-frontline-ovarian-cancer-and-appoints-dr-sunil-gupta-as-chief-medi-301168187.html


G1945V

[PosNeg1]

This should have resulted in SP appreciation. However no one knows as zero IR activity.

[MrMugsy]

You are right PosNeg ... it should have. Huge disconnect between QPT and Oncoquest on the S. Korean Exchange. I've been scratching my head on this one for a few days. ----- Oncoquest is up 8.6% today, as of me writing this. We own shares of Oncoquest at 3608 and at 3265 and the share price is now 5960. QPT has NOT moved. Come end-of-December, we should get a roughly 16 cents per share

[G1945V]

MrM.....How do you see this happening?. "Right now, I am betting we see some of that cash come our way in the form of a small divi." Thx G1945V

[MrMugsy]

The way I understand the deal, $62.5M can be liquidated by end of year. It is represented as a fixed number so I'm assuming it will not go higher if Dual (OncoQuest) shares go higher - as is the present case. I don't know how difficult it will be to sell the maximum allowable nor do I know if they will try to cash all the allowable out.  They will likely need to do so in a controlled

[G1945V]

To your point: "We have $125M purchased at 3806.3 - can acces $62.5M by yearend." The agreement reads as follows (below) when it comes to the 30 year bonds.(bolding added) It seems to me that we should have been told by now which way OncoQuest will be going seeing that they had since May's first closing to make their intensions known to its shareholders. What if Dual cannot

[G1945V]

I find it strange that OncoQuest and Dual share prices are identical.  Market Summary > OncoQuest Pharmaceuticals Inc KOSDAQ: 078590 Follow   5,950 KRW +470 (8.58%) Nov. 18, 3:30 p.m. GMT+9 · Disclaimer _____________________________________

[MrMugsy]

Dual changed its name to OncoQuest in the past few months.  It should be the same thing.

[G1945V]

So OncoQuest and Dual are one and the same company. Is there an agreement to explain this arrangement. I am totally confused.

[MrMugsy]

I can only tell you that ... Since the deal was announced and since the IP has switched hands, Dual has decided to rename itself OncoQuest.

[G1945V]

So the agreement in play is between two corporations having the same name.

[G1945V]

Actually, I overlooked the legal names of the two OncoQuest companies part of the agreement.  One is OncoQuest Inc ( a subsidiary of (QPT) Quest PharmaTech Inc.), and the other is the former South Korean, Dual Industrial Co., Ltd. (Dual Industrial), now called OncoQuest  Pharmaceutical, Inc. Note: One would think that the name change and its effective date from Dual

[MrMugsy]

The key here is for QPT to monetize the deal - or part of the deal. Right now, it seems there is no value given to the deal. Fingers crossed.

[G1945V]

According to Google: OncoQuest (Dual) Market Cap of 461.33 Billion KRW X 0.00090 USD = $415,197,000 USD Not having their financials cannot know how much real cash they hold in hand. Google cash in hand 35.03Billion KRW or $31,527,000 USD (Dec 2019) Their share price dropped precipitously from 7350 KRW Aug 13, 2020, to 3,085 KRW Aug 21, 2020. I don't know what to make of this. 

[PosNeg1]

If you visit Onco-Dual website there is news re audit by regulators. Explains the drop in MC$. Now climbing over last few weeks.

[G1945V]

Would you be so kind and link the site.  With thanks G1945V

[G1945V]

All I was able to find are the following. I can't make heads or tails when it comes to the agreement between the former Dual and OncoQuest Inc. in the financials.  Any information would be welcomed.  https://ca.investing.com/equities/dual-industrial-co-ltd-financial-summary https://diac.co.kr/en/company/about-us

[Wapiti1000]

The way this company and subsidiaries is set up s/hers will never see a profit, surprised it's even at .14....

[G1945V]

When you look at the big picture, this deal may not produce an influx of cash by year's end or thereafter for OncoQuest Inc based on what I see in the OconQuest (Dual) financials. And what I see is OncoQuest Inc selling shares of OconQuest (Dual) from time to time to keep OncoQuest Inc afloat. What gets filtered down to Quest QPT is anybody's guess. OncoQuest Inc it being a private

[PosNeg1]

QPT could possibly sell their position to OncoThera, or to Hepalink or to any other interested party.

[ARIMA11]

Spoke to the CFO who was kind enough to return the unannounced call on a Friday afternoon.  He explained and highlighted some very important details. This is what was understood. https://questpharmatech.com/wp-content/uploads/2020/04/NR22042020.pdf   1. The cost of Phase III are covered by Dual (i.e. Dual will secure U.S. 75 million for the development which is expected no later

[MrMugsy]

Sorry ... meant to say I agree with your take Arima11. I do like the drive up in Oncoquest shares ... hope it continues to climb. Good Luck.