Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Sar has many headwinds and not just financing, the recent lupus P2 from our most comparable Tyk2 / Jak1 certainly didn’t help.
The comment from Parker is always a reminder for me of the risks here “maybe enough to open conversations” https://youtu.be/1x1_ktQPLik?t=1225
Nothing is guaranteed as always DYOR & GLA
Maths if they can't get the full £1.4m that may be a big concern,
In the event that the Company is unable to draw down the majority of the additional £2.4 million potentially available under the Facility as and when expected, the Company will require alternative funding to complete the Phase 1b clinical developments activities being progressed and to provide working capital.
From the Oct 23 company presentation they state that the large drawdown is due in Feb so sounds foregone / that's going to be a huge amount of shares. https://sareum.com/wp-content/uploads/2023/10/Sareum-FY-Results-Oct-2023-FINAL.pdf
Post-period events: RiverFort transaction:
Funding facility of up to £5.0m agreed with RiverFort (Sept 2023)
£2.0m received to date
2 x £300k due in Nov 2023 and Feb 2024
£1.4m due in Feb 2024, subject to customary trading conditions
Further £1.0m available by mutual agreement
Just looking back through some old RNS’s at the Yorkville financing which I remember well surprisingly or not there isn’t that many RNS’s to go through….
This RNS From the 1st Oct 2014 made me smile though… I wonder if the potential licensing partners are still around and where did the last 10 years go /
@ Pot you can pretty much say that about any drug as for SRA737 you only have to look at prexasertib (ACR-368) to see how things can change (with the addition of OncoSignature-predictive test) same with any drugs look at Momo shelved after a failed P3 yet NG turned it around…
https://www.onclive.com/view/fda-grants-fast-track-designation-to-acr-368-in-platinum-resistant-ovarian-cancer-and-endometrial-cancer
With a MK Cap now below £30m Sareum is at a much higher risk of a low ball T/O offer coming in at 3 / 4 x the current SP. The Market will re value Sar with the P1a data and not forgetting no value has been given to SRA737 until the Market gets sight of the forward plans Financing /Trial design / Indications etc.
If you have followed Sar over the years and listened to the Bod you will understand that they believe the current trial is the best route for a potential large payday and not a small upfront. They could stop at the end of P1a with a P2 ready TYk2 and wait for a license deal to arise but the sums wouldn’t be anywhere near what can be achieved at the end of P1b.
Based on the current MK Cap right now Sareum is a buy for me and in the coming weeks and month’s sentiment will change and the herd will arrive.
Value proposition: SRA737 P3 Ready / SDC-1801 nearly P2 Ready / SDC-1802 nearly P1 ready administered straight to cancer patients.
Rough calcs I had the trial ending around the 4th March but that's allowing for a full 6 week crossover on the MAD cohorts when it could be less, the SAD cohorts were roughly a 4 week crossover.
Either way the clocks ticking and what a different value proposition Sareum may be in the coming weeks & months.
GLA and enjoy the ride...