Funding subject to performance of shares. My point exactly, not going to get the funding if we carry on like this..."Sareum said it has reached a "critical stage" where late preclinical research is relatively expensive, but funding is challenging to source. It has addressed this by increasing its research capacity, and reducing costs though co-development agreements, it said. In June, Sareum raised further funds via a placing and equity swap agreement. It expects to receive up to GBP550,000, but this is subject to the performance of its shares"
Sadoldgit.of course I would prefer better communication from the BOD. Currently we are told what is required by the rules and very little else. It would be nice if Tim published a few video interviews or used other media. But what I wouldn't be happy with is for SAR to pay someone to do this. Remember, the admin expense is mainly Tim and Johns salaries (which are less than they could get working for a larger company) and if they started to pay a PR professsional, these expenses would rise. IMO it's better to keep the costs down and focus on the science, as that is what will ultimately deliver the value (of not).
And big companies have so many failures simply because the failure rates are so high. They dont know that something will work until each phase is completed (their failure rates are not that much better than smaller pharmas) but they have the cash to buy into lots of drugs developed by companies like SAR and if just one of them gets to market, the cost of the failures is offset by the multi billion revenues the few sucesses will generate. Its basically a numbers game. The more you try, the more you succeed but most will not make it so you need to try quite a few.
Londonwolfie. Maybe the brokers dont do SAR analysis anymore because if they did another "Sum of Parts" valuation it would either show the last one to be way off the mark or maybe it would come out with a figure so much higher (based on all of the progress) that people wouldn't believe it!
LONDON (Alliance News) - Sareum Holdings PLC Tuesday posted a widened pretax loss in the year to end-June, as it continued to focus on commercialising its drug development programme.
The specialist cancer drug development company posted a pretax loss of GBP837,125, widened from a loss of GBP602,802 in the previous year due to higher administrative expenses. The company is not yet revenue producing. The company said the rise in costs was due to professional fees resulting from co-development agreements signed in 2013, and its programmes progressing to more advanced stages of development.
Sareum said it has reached a "critical stage" where late preclinical research is relatively expensive, but funding is challenging to source. It has addressed this by increasing its research capacity, and reducing costs though co-development agreements, it said.
In June, Sareum raised further funds via a placing and equity swap agreement. It expects to receive up to GBP550,000, but this is subject to the performance of its shares. These funds will be used for working capital and research funding, particularly for its TYK2 autoimmune disease programme.
The company is looking for a licensing and funding agreement for one of its research programmes, saying a licence deal would "transform the company and would allow it to deliver on its goal of delivering clinical-stage research programmes."
Shares in Sareum are trading down 1.1% at 0.470 pence Tuesday morning.
By Hana Stewart-Smith; email@example.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Sareum, the specialist cancer drug discovery and development business,announced its final results for the year ended 30 June 2014. During the period, it announced a co-development agreement to advance the CHK1 programme signed in September 2013 which it reports is making good progress as it moves through preclinical development and towards Phase 1 clinical trial, a co-development agreement to advance Aurora+FLT3 was signed in December 2013 and has successfully synthesised in multi-gram quantities and optimising process for larger scale production and is currently selecting molecules for TYK2 programme for progression into disease models of psoriasis and other autoimmune disorders.
Cash at bank at period end was £701,000 (2013: £422,000) and the loss on ordinary activities (after tax credit) of £763,000 (2013: Loss of £539,000) in line with expectations and reflecting commitments to co-development agreements. Dr Tim Mitchell, Chief Executive Officer of the Company, said: “We have reached a key phase in two of our development programmes where we are progressing rapidly towards human trials. As we achieve significant milestones the commercial interest in, and value of, our programmes are increasing. The next period will prove to be a pivotal one for the Company. With multiple research programmes in progress, we are giving ourselves every chance of success in commercialising and/or conducting human clinical trials in at least one of them.”
I remember when house brokers used to proffer an opinion at the very least rather than simply being journalists.
Don't understand your email and worries me that you do not understand the basics of business. Marketing? The broad answer to your question is that to be successful you need to have reasonable capabilities in many aspects of a business, be it scientists, accountants, PR, negotiators, managers, directors. We are all private investors here...we all here to make money. Are you seeing your investment grow??? No is the answer..for some time now...meaning the company is failing us.
Would you much prefer it that the BOD were better at marketing? They are afterall scientists and very much dedicated to their work. Perhaps that is why so many big companies have so many drugs that fail in the early stages. A case of lets see what we can do to reach KPI,S and bonus relared payments, much better to get it right first time, although it will take a little longer.
It was just my observation from our previous chats when you pointed out how these drugs could be life changing for those suffering. My apologies if I have made the wrong assumption - no offence intended. Like to think most of us have researched this share and there is no doubt believe these are very promising drugs....however really believe the problem here lies with the BOD. Are they capable of developing these drugs? Can they have the commercial acumen? Are they acting on the best interest of shareholders? Credibility? Plz don't think I'm deramping, really want this company to do well but the BOD seem hell bent in their ways and are not listening are reading the market. The market response and the SP does not lie...I say no more. GL all.
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