Member Info for Benhowell459

New shares to be admitted at 8am on 16th October. I.e. investors and institutions who took a stake recently cannot sell yet.

Let's stick to the facts?

Current discussions with partners seem to focus on enhanced toxicology studies. 3-5 months down the line we may have this.

What happens if in the next month or two we have positive discussions with (an)other pharma and they want to see something else - possibly a first view on efficacy in humans, i.e. results from a P1B trial.

My question is, how much are we driving our own strategy here and how much are we simply reacting to the wishes of those we are trying to attract? Some may say, obviously it's their money they are stumping up so we need to pander to their needs.

But there isn't just one pharma we are attracting here. They will all have their opinions. I would love to know who is driving this. The BOD changed their mind about p1B to P2 (for what reason?) and now seen to have changed again.

Danion, I do think it's a shame we're moving away from the P1B model.

Jumping to P2 doesn't seem to be saving us any time - in fact 3 months of toxicology may even take longer.

Does it appear there may be a renewed focus on preparing 1802 for clinical trial in the UK/US? Is that why greater safety data is required. Surely Oz wouldn't need that?

Missing out on P1B also prevents us from attaining data on efficacy of 1801 in Psoriasis patients, something that, if proven, would significantly increase the value of our stable.

Speak of the devil!

I should wish for things more often around 'ere!

Edison entry written in tandem with Sareum.

The first timeline has been given. Confirmation of what we already knew really.

Based on the Phase I readout, and supported further by additional data from the planned toxicology studies, we expect Sareum to seek partnering opportunities before proceeding to Phase II, likely in 2025.

From a legal point of view, surely the date should be RNS'd before being released for peer review?

The RNS this morning, although providing funding news, actually gave us the most information on trial outcome we've ever had before.

Dare I say it, it would be useful to have a podcast about this one. Even a chat with the slightly rose tinted Roasties would be enlightening.

We need to know the link with Cooper Lemon.

We need to know what the timeline is.

We need to know what he's promised in terms of support and/or funding.

We need to know the risk of this going tits up in the courts.

We need to know if he's had contact with Rio Tinto.

(Another added to the list) We need to know the security situation (presumably he's used to the area - not far from FQ huge mine so probably fine)

Frustratingly it's another wait. Feels like we're back at pre clinical. HNWI and Institution investing are positives though. Timeline for P2 given previously as starting before end of 2024. No timeline given this time. 3 month toxicology studies for 1801 - are we going to now have the equivalent of the never ending translational studies for 1802, possibly the longest studied ever seen!

BJORK style. Blooming autocorrect.

Surely Eureka gets a nomination. Hundreds of miles from anywhere down a solitary dirt track. Possible IOCG, but we wouldn't know unless we sink 10 million British Sterling into drilling so just quietly, oh so quietly (Bjorn style) slipped by the wayside into the waste zone that is Xtract's offline archived website. I wonder whether there's a taped off exclusion zone around Eureka and Kalengwa.

Or maybe artisanal miners have actually struck gold (copper). Do artisanal miners mine copper? Question for another day perhaps. Main thing is Colin has an utterly useless track record. Apart from tripping over once in 2005 and falling head over heels onto the biggest payload you could imagine. Colin probably smudged FQ's signature he was signing his section so eagerly.

Yep everything stems from Cooperlemon.

They all know each other.

Slightly hesitant that there is still a conflict over the licence. Not ideal.

25% of their company sounds good though. How big are they?

Bob, completely agree. He knows how to do the series of RNSs day after day - it's what got most people into Xtract and/or kept us intrigued day after day. Was it back in early '21 with the almost daily pods with Zac? "oh it's a long 'ole Zac!"

Also agree about the delivery that was sent for processing.

It was mentioned in several RNSs then nothing. Absolute silence. Colin just started to ignore Kakuyu and got distracted by Cooper Lemon and the rest of Zambia.

Doesn't seem that interested in anything XTR related. I think he has organised drilling with GLR though...

Interestingly Ventyx have more parallels with us.

They have a TYK2 which had positive phase 1 data back in 2022. They (for whatever reason) did not sell or on-licence and went onto do 2 phase 2 trials.

6 Nov 2023 — The Phase 2 trial of VTX958 in plaque psoriasis met the primary and key secondary endpoints, we are disappointed by the magnitude of efficacy observed.

29 Jul 2024 — The Phase 2 trial of VTX958 in Crohn's disease did not meet its primary endpoint of change from baseline in mean CDAI score in either VTX958 dose group.

7 Nov 2023 — Ventyx's stock plunging 73% in premarket trading Tuesday to $3.77 from a Monday closing price of $14.09.

--> The perils of going it alone in phase 2...

I do wonder whether Tim and John are happy with their contribution to Science and are happy for others in the big bad murky world of Pharma to take on the promising 1801/2 or if they would rather keep some sort of responsibility. New treatments move agonisingly slowly down the path towards commercialisation and every day use.

Momentum is building here. You can tell the BOD are building a great little portfolio and have some serious interest in developing a resource by both the government and bigger fish.

We are also funded for drilling which is the biggest issue for AIM explorers. Analysts also think we are going places and the BOD also have plenty of skin in the game.

I would love to shift funds in here but need developments elsewhere to play out first. If ORR can wait 3-4 months before it gets over 0.5p that would be great ;)

Enjoy the rest of the weekend all.

This is true. He does however hold 116k shares (or have interest in). There may well have been an offer of options when he stepped into his new role though so (unless this would need to be RNS'd) we don't really know.

116k shares at a buyout of 600m GBP is still 700k. Not peanuts but maybe not life changing for him. He won't be the only one present though. John may push for buyout.

Also, not just Parker's choice. We have discussed before that having 1801 and 1802 would frustrate the first pharma to on-licence. If you want to stop us being a competitor or even handing whatever remains to a second competitor, a buy out is needed. The pharma themselves may prefer a buyout if phase 1a data is so good.

My preference: obviously I hope Parker has been given options and is also pushing for T/O.

Head says I'd probably agree and Potnak's view about needing data in psoriasis patients for a full buy out probably a sensible one.

Hopefully this dog (currently SAR's sp) has it's day, sooner rather than later.

Thanks HBD. One to watch tomorrow morning. Thanks for excellent contributions and research today from a large number of posters. Exciting times. So much so I topped up late in the day.

My last post on Pandion. If we can find ourselves a big pharma who really want in on the autoimmune space and/or see the value in TYK2/JAK1 combos, then we will be above the 'average industry' valuation levels.

We are, as we have been told several times, possibly best in class. As John/Tim said, they are damn good at Chemistry.

Pandion 1.9bn USD having only completed phase 1a + library of other options (ring a bell?).

Would also love to know which stage Tim was talking about when mentioning 800m for 1801 and 2. Good question Oracle.

More info on Pandion below. Remarkably similar stage. Just completed phase 1a and had released results to the market. 56 volunteers in their trial, so slightly more than us. Injection rather than orally taken.

1.9bn USD, possibly worth more now due to inflation since 2021.

https://www.sec.gov/Archives/edgar/data/1807901/000119312521000349/d78635dex991.htm

I must say this is quite possibly the most exciting time as an investor of Sareum. Disregard the HNWI and explosion to 9p a couple of years ago, that wasn't scientific progress.

I wasn't here for the mice success, but that was only pre clinical.

We have, according to several publically released RNSs, a safe new therapeutic which has, or will have, (apparently) multiple uses in the future.

I am in agreement that Parker and Tim must be in discussions with multiple pharma.

I also agree that they need to step up and do better than the last time they had serious negotiations with outsiders (PH and they who shall not be named).

The decision will be buyout or on-licence. How long are they willing to wait for the ultimate reward for their hard work.

Are pharma trying to get 1801 on the cheap (undoubtedly)? Hopefully there are multiple interested.

I love to remind myself of Pandion's story. If the science is good enough, big pharma will pay good money to stop others getting their hands on it. But, will need to buy both aka buyout to do this.

Link: https://www.fiercebiotech.com/biotech/pandion-s-secret-to-moving-a-65m-merck-offer-to-a-1-9b-done-deal-a-year-just-keep-saying-no