The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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The only thing is - they are now 10p warrants.
As much as I hate RF I really hope they do get to exercise their warrants:
"RiverFort will be granted 879,094 warrants at the time of the First Deposit, exercisable at 143.33 pence each."
Been away for the best part of the week and taken in all the points of view - good to see the bb back discussing Sareum - 11.86 just paid!
GLA
I can assure you as of this moment in time PH are still joint broker, the reason they were not mentioned on the RNS was Hybridan was the sole broker dealing with the placement - from a personal point of view, I was pleased to see them dealing with it and earning the fees rather than PH, simply on the basis, I've yet to see anything positive that James Steel and his cohorts have brought to the table - hope you're right Potnak that they are working on something, who knows for once it might be something that benefits us pi's.
Regarding RF, agree with you Potnak and your summation - yes, would love to make RF wait, but, ultimately rather pay them off and walk away.
GLA
3 Aug 2023 07:00 £2 million @ 102.3781p 1.9m shares 2.7% dilution
3 month Anniversary 3 Nov 2023 £0.3m 83p 361k shares = 0.5% dilution
6 month Anniversary 3 Feb 2024 £0.3m @20p(?) 1.5m shares = 2% dilution
(Not drawn) 6-month anniversary 3 Feb 2024 of up to £1.4 million @ 20p 7m shares = 10% dilution
The maximum amount deposited and outstanding being not greater than 10% of the market capitalisation of the Company at the time of the deposit so we couldnt drawn down the £1.4m - thankfully - raising £300k at in Feb generated almost the same number of shares as £2m in August last year which now looks like a great deal. If the mcap exceeded £12m then the rest can be drawn down but hopefully it will go to more sticky shareholder hands.
Considering the above its not unreasonable to think that RF is out or mostly out. The 500k sales at close yesterday my be them getting out before the placing shares hit the market.
Sorry, meant £17.25k. Not small trades really.
Some decent buying volume this morning, with fairly sizable trades (£10k, £17.5k..).
Probably and yes.
Unless we get a change of broker RNS, we have to assume the PH are still Sareum's joint broker. Fro all we know, they might be brokering the deal we all want. That is literally what they do.
RF will be around until the finance facility is paid off. Question is, in terms of dillution. Is it better to settle the facility with cash or more dillution via warrants. The extra £800k raised via the extended wrap cost us 9 million in extra shares into the pot. RF would have to pay for the warrants at the reduced warrant price which, I have to admit, I can't find. With my very limited accounting skill. I think it's better to settle now because we've already taken the 9 million share hit and the cash is extra to the original wrap terms. Otherwise, assuming all goes well, there will be a final dillution before the Aug 2025 end date and and depending on the warrant price, this will be in the millions of shares. If we do get a deal with a decent upfront, I'm in agreement with others here, the board should issue a share buyback. Everyone who bought low would make some profit and there would be less shares in issue. Win win.
But DYOR:
https://uk.investing.com/analysis/sareum-holdings-a-decisive-period-ahead-for-sdc1801-200604323
LH&K Mafuta
Rayboy. Too right, providing they build a compelling case. They should be encouraged by the vote of confidence given by the success of the WRAP retail offer.
Nobody likes share dilution but if the end result justifies it, then so be it IMO.
Bit more detail and meat to the bones of the same story:
https://scrip.citeline.com/SC150039/Roivant-May-Take-On-AbbVie-In-Uveitis-With-Strong-Phase-II-Efficacy
Anything that takes some market share off Humira will be worth a few quid...
Looking forward to SDC1801 results!
ATB
Sar board should come to sh if they need to raise funds again, sod doing a RF again
Ask won't move today because the issue of shares at 10p to existing holders. Monday will be interesting to see how the SP performs under normal conditions now finance is secured, RF are effectively settled and there looks to be smaller shorters closing their positions over the past couple of weeks? For now have a great weekend all. Fingers crossed for all who may benefit from SAR's potential future treatments. Their efforts could change the lives of many people if we can push this through to commercialisation
PH & RF still involved with sar
Looks like it’s on the move now
It's good to see the continued buying, you're right, but there's always the backdrop of RF selling in quantity. If Sareum can find a way to exit their agreement (and pay then off effectively) the SP could look very different!
Great find Krone, you'll no doubt have spotted one of the authors is Udai Banerji - Top man at ICR:
"The authors would like acknowledge grant funding from Cancer Research UK (CRUK 23819) and infrastructural funding to the convergence science centre. The authors would also acknowledge infrastructural funding for the Experimental Cancer Medicine Centre and the NIHR biomedical research centre. UB has received NIHR funding (RP 2016-07-028).
Competing interests
SRA737 was discovered in collaboration with HEI (higher education institution). The Institute of Cancer Research. AS, JS, LP, ADHB, FR and UB are employees of The Institute of Cancer Research. UB has spoken at Sierra Oncology advisory board (non-remunerated) and his institution has received funding to run clinical trials of SRA737. GN and SS are employees of LXRepair."
Of note and also on the CHK1i trail:
30.03.2024:
The CHK1 inhibitor prexasertib in BRCA wild-type platinum-resistant recurrent high-grade serous ovarian carcinoma: a phase 2 trial
https://pubmed.ncbi.nlm.nih.gov/38555285/
direct .pdf: https://www.nature.com/articles/s41467-024-47215-6.pdf
29.03.2024: - Boundless Bio (Christian Hassig)
Rampant transcription replication conflict creates therapeutic vulnerability in extrachromosomal DNA containing cancers:
https://www.biorxiv.org/content/10.1101/2024.03.29.586681v1.full.pdf
ATVB
With the funding sorted for now and constant buying why doesn’t the ASK move up?
Interesting
I saw the shares on my AJ Bell Trading and ISA accounts yesterday.
Nothing in my II ISA
Ironically I applied for a decent amount from my II account as it had recently cleared funds.
KR
ZA
Just checked and shares are now in my HL account
On HL ok , first thing
On HL my message advised 5th April date when share will be received
The shares I’ve applied for on ii are also not showing!
My new (hopefully) shares aren't showing on ii this morning.
Anyone else got theirs?
.