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Interesting. Thank you.
I think Investowin hit the nail on the head with his question:
How do you intend to ensure the survival of the business as a going concern when none of the actions currently targeted by the BOD generate revenues before your cash runs out?
I will certainly be looking for an answer to this one as a priority...especially given the recent goings on at 4D Pharma. If any other questions can be posed and receive meaningful answers then that would be very much welcomed too.
As Doc83 says - the opportunity to see the whites of their eyes could be quite telling in itself...
The Palladin,
I hope you don't mind but I have to ask; are you named after the protein, the mutation, the bridge or the spy novel?
Yes it doesn't look very clever to bang on a load of costs (mainly personnel) just prior to the failure.
The message from the DDDD fiasco should be that careful management of costs is vital as access to capital markets is limited at present.
Hi Doc
I do remember RM assuring us they wouldn't miss the third wave, OOP's.
I think it’s fair to say we were all very excited at the senior job hires and commercialisation agreements being made. I think we also (incorrectly) assumed the company had been given a bit of a heads up that things were looking good and to get ready for production. As it turned out, they didn’t have a clue.
You live and die by your decisions. If P3 had been a success they would have indeed been heroes and reaped the rewards. But it wasn’t, and now we know they didn’t have any nudges or winks from the powers that be I would argue they gambled a bit too much with all that they did. They’d already missed peak Covid (at least at that particular moment in time) so why the rush?
Thursday should be fascinating. It’s ok reading or watching interviews, but there is nothing like meeting people in person and seeing the whites of their eyes to really understand what kind of person they are. Can RM and the current management team take SNG forward? I’ll hopefully have a better idea by Thursday afternoon.
What a ridiculous response by HSD. I don't see any issues with your line of questioning soonbetime.
HSd - you are correct the company expanded. We didn't complain as that expansion was due to Phase 3. although phase 3 failed, we are all unaware of what's next, therefore questioning the expansion for future clarification will help build morale.
Hi, I also have a significant shareholding in SNG, although nothing like Polygon.
I suppose my question is that on the basis that the buck stops with the person at the top, having messed up the Sprinter trial and being unable to get the Activ-2 results in a timely fashion have we got an ineffective / incompetent CEO that needs to do the honourable thing and go?
HDS
I think it is fair to ask about our staffing levels... They employed staff hoping SPRINTER would
be a success and we would be a commercial outfit and not a research one! The fact is we are
still a research Company but staffed as if we are commercial..... It was a gamble that did not pay
off and now it has to be addressed...They have to cut back, it should have been done by now..!!
So I want to hear why this has not been actioned and I know others who post here do too!
Furthermore, PI's never had a Q&A to discuss what went wrong with SPRINTER so many
questions remain unanswered. The AGM will pobably be the one and only chance to do
so and it is reasonable to expect a comprehensive explanation. This should not be
necessary as RM should have made a statement at the very least to shareholders
but he did nothing, so quite right he should now explain himself....IMHO!
Most of them seem like rants from a disgruntled investor. Question 2) ARE YOU F***ING SORRY?! WELL ARE YOU?
Even with the company making the exact same decisions, if circumstances had been just a little different the trial could have been a success and everyone would've been praising the company for the making exact same decisions (eg. selecting those endpoints, hiring sales and marketing people etc).
Nobody was whining at the time about the new hires, because it was clear the company was planning for success.
1. What was the outcome of Sprinter futility analysis?
2. Does the company regret the lack of communications in the weeks post sprinter?
3. Were improvements in soc taken into account when designing the P3 trial?
4. Was P3 trail design overly complicated and were the correct end points chosen?
5. As SNG001 is unlikely to be commercialized within the next two years, what are the plans for the staff recruited in anticipation of successful trial results?
6. With no commercial income can you justify the high pay of some employees working at what is essentially a small research company with salaries funded by shareholders?
7. Hindsight is a wonderful thing but what, if any, mistakes do the company believe they have made over the last two years and what lessons have been learnt?
A few questions to add to the list some of which may already have been covered.
ATB
SBT
Q. What's the Hold up with peer review publication of SPRINTER?
Thanks Tommy for organising the questions... Much appreciated!
Thanks blue83 and goblesmythe
As the company are in a state of limbo ref the Covid trials, has work been restarted with regards to COPD?
Can I suggested for clarity of the thread that everyone sticks to a question they would like answered rather than debating the points others have raised.
That way it makes sorting out points of interest easier. Where people have indicated they are attending, I won’t pass on those questions as clearly you’ll be asking them directly. But I appeaciate you mentioning them to help inform other investors.
Doc
Anything that concerns a shareholder should be addressed...But there
will not be time and I doubt RM is going to admit that not all shareholders
are treated the same, so be amazed if that line of questioning is answered
with any detail....Just my opinion...
IMHO as time will be limited it is worth deciding what is the most important
point you want answered, and that cannot reasonably be deflected..!
Manifesto - you are quite right, they don't have control over who builds a stake in the company. But my questions were more specifically:
- do they/Polygon have contact? If so what about, if not why not?
- are Synairgen happy or have concerns there is such a large shareholder that could potentially influence the future direction of the company?
They might not want to answer either of those. But I think it's important to remember WE OWN SYNAIRGEN. The management team look after it on our behalf. Therefore they have a responsibility to answer these very relevant questions. Any shareholder who holds 27% of a company is very relevant. As someone pointed out yesterday, Polygon don't have a seat on the board (they may well want one soon!) but that means they shouldn't be privy to any inside information or information that we are also not entitled to.
-
Doc 83
SNG have no control over a fund/PI building a significant stake in the Company...That is
the risk you have to take when you float a company... I would be very surprised if they will
discuss their relationship with Poly.... But the points you make about staff that were hired
in the expectation of a successful SPRINTER trial are ones that I think they have to address..!
I’ll be attending and heading down on a very early train. I wish they’d have made it a bit later in the day!
In any case like everyone else, I have quite a few questions. I hope we get the opportunity to ask them. Some of mine are:
- some of the recent big name hires are effectively redundant for the foreseeable future, for example those responsible for commercialisation, which looks like it is on the back burner. What is happening with these hires which presumably come with significant salaries?
- I appreciate the benefit of hindsight is a wonderful thing but on reflection, given that we had already missed the peak of Covid, should we have not been quite so aggressive with our hires and commercialisation strategy, and waited until P3 results?
- the new timeframe of “summer” for ACTIV P2 data… is this a guess, or have they been given actual guidance by the NIH? Was the previous H1 guideline a guess or were the goalposts moved?
- any plans to reveal any long Covid data?
- do Synairgen and Polygon have a dialogue/talk to each other? If so, what about? If not, why not when they are so significant?
- are Synairgen happy to have such a large “outside” shareholder who could potentially dictate the future direction of the company?
I’d also like to offer some gentle feedback on the lack of communication in the aftermath of 21/2. I know some people feel they did nothing wrong here, but truly I have never known a listed company offer such little communication following the most dramatic SP fall in their history.
I won’t be going in all guns blazing. These are legitimate questions that I believe need answering and I want Synairgen to come out the other side of this and do well.
If you think that RM is a clueless incompetent then the ceo of DDDD may be even more useless.
Perhaps they should set up a business together. LOL
I will be there as i now have a significant shareholding in this company having to average down. I am pretty direct so if i have an opportunity i will be asking some very direct questions. Happy to take on board everyones comments/questions and get them across. Who else is attending. Maybe we could meet an hour before and and decide who asks what? Just a thought
Also.....
Do they accept that the design of the SPRINTER trial failed and not the Drug?
* Did they suspect that the performance of SNG001 would be undermined by treatments currently offerred in Standard of Care?
*Do they understand the causal mechanism for the ineffectiveness of their treatment, & if so, why did they go ahead with Sprinter?
* Are there situations or conditions where the current treatments offerred as standard of Care for Covid is inappropriate?
* What is the most promising use for their treatment? COPD?
Thanks manifesto