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‘All it takes is a big pocket with some appetite for risk and a couple of medics with good clinical trial background and some entrepreneurial experience’

Is that all?!

Jokes aside it’s really not an easy thing to just set up shop and do. Even if you had all the ingredients you mention, no way is a big pharma just going to jump into bed with you. These companies want to see a long track record of safe and effective trial execution. A start up would do very well to prize business away given how important reputation is in a field like this. The moat is wide.

Thanks Morbox. Hopefully be able to get another top up in by then in that case.

I can perfectly understand both sides of the communication argument. RM should’ve come out and said something, he should’ve fronted up and explained what happened. I think shareholders were owed that. Equally, there is an argument that everything that needed to be said was said in the RNS and RM doesn’t want to face the baying mob of shareholders until he has something of material value. This was proved, in part, by the in vitro data RNS. Something, no doubt, initially planned for release with top line results initially. I think we have to come to terms with the fact that both arguments are equally valid, and hope there is busy work in the background.

People often talk about a share becoming ‘de risked’. The reason we are at 20odd pence right now is because we are significantly ‘re risked’. Sprinter put us on the cusp of commercialisation. The trial (not the drug) failed and with it, timelines have been pushed back considerably.

I don’t agree with the idea that this is a pure gamble. Any LTH who believes in the science should see a return on their investment in the fullness of time. But that road is now fraught with danger, including the emergence of competitor drugs and the prospect of potentially fundraising for the platform trial. These are risks we must be alive to. Another final factor is the reality that a lot of SNG shares are in traders’ hands, with the usual churn and volatility that brings.

I’m a definite ‘hold’ but don’t see the argument for averaging down at this point, feels like throwing good money after bad.

Anyone know when we are likely to be privy to the transcripts from the PTAB presentations?

Thanks in advance

Comments by Mo very encouraging and pleased by the trajectory of the business. Anyone can see its criminally underpriced where we are. Really nice to see the growth opportunities being explored too.

CF was a little flustered I felt. Kept saying ‘well mo is here’ ‘no excuses now’ etc. truth is, spin outs will be tricky in this climate but a well executed DIM would keep everyone happy.

Happy to hold things headed in the right direction.

Regarding Orph itself, I’m much more interested to hear what Mo has to say to be honest. He will be heading us up after all.

Regarding the rest, spin outs in particular, I am expecting CF to be providing investors with a clear picture of where we are at with all of those aspects. It’s taking too long now and they either get on with spin outs or mothball it. The uncertainty over all that is weighing very heavily on the SP at the moment.

Really hoping we get to hear plenty from Mo and that the presentation is balanced. It’s important CF is seen to be handing over the reigns and talking investors through the bigger picture re spin outs.

‘I am happy that the general consensus on this board has shifted from initial despondence to an expectation of a recovery once the company have their strategy in place.’

I think the ‘once the company have their straregy in place’ part is the absolute crux of this issue. I agree with what Tman said and it’s great to have their perspective on things. However it’s also important to remember that SNG is not the drug alone. There is a team behind that drug and in terms of trial design and analysis, some pretty rudimentary blunders were made. Sure, we can cut some slack here ans there, but it was really brought into focus the fact that SNG and big pharma, at present, are worlds apart.

RM and his team have a major job to do here and to be honest, after the shower that was Monday, partially self inflicted by the company’s poorly worded RNS it must be said, there is some serious work to be done to restore faith and to get us back on the rails again. As the saying goes ‘you got us into this mess, you get us out of it’. I think most LTHs want RM to stay on and fix things. The deep dive and subsequent updates will be critical in terms of whether RM is the solution long term.

Good luck all.

I know it’s any CEOs job to talk up a company, so perhaps not something to hang too much on, but in the presentation a couple of months back, Tenner seemed very certain in his words about Nanoco being closer than ever before to commercial production. That really resonated with me.

If we get a win on the legal front AND news of a commercial agreement this year, that would be absolutely huge for this company and for us.

Two big hurdles but two big opportunities too!

I’ve said before, polygon are not ‘averaging down’, that is small time PI thinking. Averaging down is nonsense for two reasons: their stake is now so massive that they couldn’t possibly exit the market without crashing the SP and further crushing any upside potential through the sale of their cheaply acquired shares. Secondly, look at their website, this is a fund that is into huge hinge events. If SNG was a dead duck they would certainly not be adding, no way! This is a fund with vision, not some day trader trying to mitigate huge losses with a punt on some now vastly cheaper shares.

They clearly see something here the market doesn’t, and continue to add quite aggressively by fund standards. I can’t figure out precisely what they are doing, and as LTHs I don’t think we should be too concerned about what precisely it is, but one thing is for sure…right now their objectives are well aligned with those of LTHs and whilst not tempted to add more, I feel our best chance of a happy ending exists with Poly in the picture.

Good luck all.

Tried desperately to get some shares at 10.5p. No cigar. Eventually picked some up at 12p and think the March back to 20p will be swift. Think 10.5 was the bottom but what do I know?!

Don’t think the drop yesterday shook out any LTHs. The damage was done last Monday and anyone vacating their position yesterday was likely newer money entering the share.

Still, today’s update is positive and has material substance, which is all we ask for as LTHs.

I think it’s a long road for us unless we can attract a bigger player to come in and take this drug forward, but clearly there is fight in the old dog yet.

Continue to hold.

I understand your sentiment Amerloque, as shareholders, we’ve been on the receiving end of some rotten luck over the years, including Samsung corruption, we should not assume they won’t try something underhanded.

I still feel we need to trust the process though. The US justice system isn’t perfect, but relatively speaking it is one of the best in the world.

Fingers crossed that justice will prevail.

Also a bit of a stretch to be equating Biden’s actions in a very messy, complex situation in Ukraine with a suggestion that a UK micorcap’s legal scrap with Samsung will be somehow marred by corruption at the very highest level. A little far fetched I would contend.

Just bought a small amount myself.
Why not?

In which case the following phrases are banned:

‘Pivot away from…’
‘Placing’
‘Risky’
‘Jam tomorrow’

Thanks in advance

Hurricane energy is the example that springs to mind.

Woefully mismanaged, eventually an II (an Activist fund) got most of the board out. It’s now about 700% up from its all time lows.

There aren’t many parallels to our current situation but clearly large II’s with research capacity can see things that the average PI might not.

I’ve said a couple of times now, these results aren’t awful, that death reduction stat is bound to turn some heads.

I don’t know why poly are doing what they are doing, but the concept of ‘averaging down’ is small minded and needs debunking. They own way too much of the company to trade it like that. They see something bigger here. I don’t know what, I don’t particularly care, aligning with their interests will help us in the long run I feel.

Andy, something like this was always the risk. The titans of pharma are way more savvy at lobbying to get quick recruitment, running trials quickly and effectively, presenting data in the best possible light etc. within any big pharma this is a multi million infrastructure with vast networks of highly skilled and well connected professionals making sure the interests of their clients are being seen to. The small stature of SNG, run primarily with science types, as we often discussed, was an inherent risk. Frustrating as it is to see us where we are right now, something like this was always a risk.

That said, I grow less worried with each day that passes. I don’t know what Poly’s strategy is, and I don’t much care. I am glad to be aligned with them in terms of holding and think they will help the burnt PI recover their losses. My own theory is that the prospect of a buyout is now much higher on the agenda. The death reduction stats will be tempting to a big pharma to take this forward. Late stage hospital treatments are rare and the market is crying out for one. Somehow I few those two things (poly ans a TO) are linked.

Crisp, we won’t get much FOMO in the run up to
May in my opinion, this isn’t a massively followed stock. Maybe up to 30p or so but nothing major.

This will be driven by events and if PTAB is good, we will get some big publicity and a huge bump to the SP.
Worth the 3 month wait.

Haha Nano I was only thinking this morning ‘that comment aged well’. Not for the first time where pessimist in chief BTB is concerned.

As I said in my post a couple of days ago it may be a bumpy ride here, it may not. As we are waiting on a huge hinge event, any noise between now and then should’t be anything to worry about. It should insulate us from the shockwaves that are likely to spread through the wider markets.
For my own part I’m keeping my eye out for any buying opportunities. Opportunity is ripe when fear abounds.

Ghia I think poly see enough in the death reduction and safety profile of the drug to be convinced this has legs. After all, the bar for EUA is pretty low, based on what we know so far, and a therapeutic that reduces death rates is a real golden goose.
The RNS was written very poorly, what’s the point in the opening gambit being endpoints not being met when the endpoints are based on invalid or highly compromised data? There is a real sense of ‘the boffins’ having written that RNS, far too wedded to the raw data and not enough interpretation of the data in relation to the commercial interests of the company; that RNS trashed the SP and RM has some explaining to do.
I’m way too sore from Monday to follow Poly’s lead and add. Having said that, I’m much more comfortable with holding now based on further scrutiny of the RNS and I’m glad I didn’t bail on Monday.
Activ isn’t our only hope. I think big pharma will be interested by the data and will see significant value in picking this up for a few hundred million and taking it forward.

Had another add here today (my buy showing as a sell but pleased to get my order filled at 18 odd pence). Have really high hopes here for the next 6 months or so. Learned the hard way with SNG that nothing in life is certain, no matter how sure of the facts one may seem.
Nonetheless, I am hopeful the PTAB will see the merits in our arguments. If it finds in our favour I see an instant 5 bagger.
PTAB is the critical milestone. If it finds on our favour, Samsung don’t have a case. Simple as that. From there lots of exciting options on the table.
Good luck all.