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I warmly appreciate your detailed and positive reply. I believe that when a well-researched investor like yourself comes away from an AGM with such a positive impression, it speaks volumes about the company’s confidence in their ability to deliver their product to market.
Hopefully we will have some good updates during the Summer months followed by an acceptance on a platform triall? Only then will I feel fully justified about my bullish optimism .
It is still a matter of conjecture as to what the next steps might be? For sure, we should have some form of update before the Autumn?
Many thanks and all the best.
Hi Palladin - I came out of the meeting feeling extremely positive.
I was, like most people, extremely disappointed by the Sprinter results, but after the initial shock decided to take a more pragmatic view rather than demanding heads on pikes like some people did. However, I didnt travel over 100 miles to get fobbed off by flannel. We put forward some very direct, probing and difficult questions (many of which were thanks to members on here) and none were dodged and all answers seemed genuine. Not all members of the board were amazingly eloquent, but this was largely the ones with "backroom" roles rather than customer-facing roles.
Commercialisation was talked about, both in terms of likelihood and timelines and it was clear that this is their primary objective - however it will take time. Someone asked directly whether this would take place within the next 12 months and Simon Shaw (if memory serves) stated "highly unlikely". Realistic rather than the answer we wanted to hear.
I guess my positivity was mostly cemented by the chats with Sir Stephen Holgate, Richard Marsden and Dr. Bruce Campbell after the meeting. The main point I took away is that these guys are extremely passionate about the product and its usefulness and need on the world stage. They say they are working "at haste" - hopefully they are...we have no way of knowing for certain - but one thing was clear: they're not going to rush this for a quick buck. They know they need to build a formidable, robust case for SNG001 to maximimise it's commercial value. They were all very calm and the belief in the product shone through. Dr. Bruce Campbell particularly cited an example of a similar process he'd been involved with previously at another pharma where trial results and market caps were up and down like a yoyo and there was a calm "I've been doing this for years...SNG001 will come good" air in his comments.
So, that's my take, my personal view, based on my assessment of what I saw. I'd love to hear the views of other attendees - you may well get a totally different viewpoint. As I said, I'm probably more on the pragmatic end of the scale, but I was closely watching HOW they answered the questions as well as the content of the answers and it all seemed genuine to me, hence me leaving feeling very positive.
DYOR & GLA!
Tens of thousands of doses. This is well in excess of the quantity required for a PT. This implies that the board had assumed that the Sprinter trial would be successful? Had they produced this quantity with the commencement of early post-trial commercialisation in mind?
Someone on this forum mentioned that SNG001 would retail at £2,000 per dose. The retail cost of 10,000 doses would therefore be £20m. Tens of thousands of doses would sell at a proportionally higher price, according to the quantity.
All this is irrelevant for the time being.
Wigster77 and Doc83. Having looked at the whites of their eyes as they spoke, how highly would you trust the board members to get SNG001 back on a route to commercialisation? I was quietly confident following your excellent feedback last week, but was slightly unnerved by today's RNS. Perhaps my apprehension is unjustified if this is merely a standard company procedure? I would have been happier to receive this information when the company's development plans were further forward. Currently all we have is words. My best guess is that they are waiting to hear from the NIH? Presumably they are also exploring the viability of inclusion on other PTs?
Until we have concrete news, the share price will remain an instrument of experienced traders. It is already >20% down on the recent 35p interim high.
3 different buys of 50,000 shares a time this afternoon, seems very precise and in quick succession to be a PI. Someone’s taking chunks.
Yes, the BOD were very clear with their answer. 10’s of thousands of doses ready and waiting.
Wigster77's comment from 21:30 last Thursday is where the "tens of thousands of doses of active treatment and placebo" came from. I believe he was one of the posters here who attended last week's AGM.
My writing style is actually more akin to a cotton sock: breathable and strong.
Org is the easiest poster to spot. He is currently wandering the near empty halls of ADFVN, posting correspondence from his NIH contact on a public forum and barely understanding the content.
As for Andy, they revealed themselves to be a trader. An antisocial one, true. But also a well researched one. Suddenly reappeared on the first mention online of STRIVE.
Truth be told I don’t really care who you are, Aether. You post a lot here and if it makes you happy, fair play.
Green bin it.
Don't feed it.
It's probably Rob/Org/Andy. There's a shrill unhinged quality to it's writing.
Aether I called you out a couple of weeks ago for the continuous building of a narrative to oust management. Well it failed pretty miserably didn’t it?!
Aether not to be trusted. Plays a subtle game but in the end, a failure.
Some people on here are ignorant as they do not even know how these grant of options work.
They are just using this to try and trade a 10% profit.
Jeez Get a Grip!!!!
Gunto2022 has already been unmasked as a sockpuppet. oj17's writing style is reminiscent of someone. Wasn't he unmasked as a sockpuppet recently?
OMg - these are statements that SNG have on their website - take the time to look. Is typical that anybody who criticizes the BOD or questions how money is spent ( or not spent) is a deramper.. get your head out of sand and go look at accounts of 31 December which state 0 Liabilities and then look at the RNS of 17 Feb... its black and white...
You cannot discuss accounts you have not seen...You are
making up defamatory points to suit your agenda..... I
am not responding to you any further.. I have reported you and
trust Admin will deal with the matter!
get real, its public knowledge.
31Dec21 Accounts state 33.8M cash in hand
17 Feb 22 RNS 'in excess of 25M'
so if you believe inventory 0 means '10s of thousands of doses' where did the 8 million disappear to?
Our Spring accounts have not been published so you are making up very serious
allegations in implying funds have "disappeared"...... You need to be very careful..
I am reporting you !!!!
Man, thats even funnier...if you believe the '10's of thousands ' of doses existed on the 31st December. then you are still NOT asking the question where 7-8Million disappeared from accounts in early spring...hilarious!!
Our stock cannot be sold until approved..So it is included as money spent on manufacturing costs
not as an asset.... You really do not have a clue in how to understand accounts....We are funded
for the next 12 months.. Our accounts are audited so anyone who wants to go through
them in detail can see all expenditure...Nothing is being hidden ..... !!!
Not apologising for being wrong about our stock levels then???
that is so funny
"Again you jumped in saying nothing in results to say we had stock..WELL
at the AGM RM confirmed 10's of thousand of SNG001 and Placebo.."
Correct the accounts of 31 December showed no inv. I questioned where the 7 million spent between then and early spring had went.. Nobody had any balls to also ask the question but myself - too many heads in sand...so if the 7 mill had been spent on inventory then fine - but at least if you are a serious invester you would look at the accounts and ask these questions - not just look the other way. At the very least you would expect that BOD would tell the investors that they have spent the money
For someone who thinks the company will be worth almost nothing when the cash runs out. You’re awfully exercised about share options??
“ SNG - but they will also follow the cash in hand and buy SNG at almost nothing when cash runs out”
...Of course a number
of them will be excercised, this has not just happened by chance but by demand.....And
yes Poly will watch to see any impact on their %.
The last time you were here deramping you had to correct yourself..
I posted we were due a tax rebate... You jumped in to say it was just a credit against
futrue tax.....Then you had to admit after other posters confirmed my point
that you were wrong. I also said we had stock of SNG001 for planned P3 trials..
Again you jumped in saying nothing in results to say we had stock..WELL
at the AGM RM confirmed 10's of thousand of SNG001 and Placebo..
So would you like to correct yourself again..... Bit of a theme developing
here with your posting history............!
leroy, exercise price has been 1p in past...great work if you can get it
Man, options are only granted - not exercised. So share capital remains same.
But what a scam share price can be diluted by 7.9 percent for directors benefit, and looks like they will get same options going forward.. For what exactly?
It would be good if that were the case Wigster77. The thought briefly crossed my mind.
However, in common with most small companies, the sole emphasis here appears to be on directors and others receiving appropriate remuneration for their work.
I have just read the appropriate section in the Annual Report, as suggested by a contributor earlier on this forum. I hadn’t previously realised that the three lead directors had received a very significant increase in their remuneration package last Autumn, presumably with more to follow this year?
Currently, this is being funded by investment capital. I would be happy to receive any positive news to validate the current “rewards prior to outcomes” culture that exists here, as in so many other companies.
I don’t disagree with the consensus that this morning’s RNS complies with company norms. The process is not the issue. The fact that the RNS has been released when the company’s share price has remained in a trough since Feb 21 is questionable?
Perhaps some positive outcomes in the near future would allay my doubts as regards the ability of the BOD to deliver? As things stand, the company has produced an unique antiviral treatment with enormous potential. Investors now need to receive concrete updates to validate the fact that SNG001 is well on its way towards future commercialisation.
ATB and GLA
They have topped up in time for news...!!!
Not done the sums, but will be interesting to see if
Poly add to correct their position to previous level..!
It’s probably worth reading the terms and conditions and over what period of years before deciding whether the BOD have been granted anything or than an IOU IF
By the time the IF arrives we should all be happy if what was said at the AGM occurs otherwise these options are pretty meaningless in my view