Member Info for DP64

SC,
No matter whatever VVLTH, VVVLTH, VVVVVVLTH you are, it will definitely not get through with 100:1 consolidation if there is no very good sweetener attached to it. This is our experience based on other consolidation. Few of us built up a substantial holding over last 12 years. All of us have the similar view regarding the consolidation. Time is the best thing to tell everything.

SC,
That will be really brutal to all the LTH. They must have some very good sweetener to get that type big C tom pass through.

Hi T2,
Many thanks for your post. Just a very basic question. Does it mean that the question is raised about the very fundamental of Tyk2 and that is probably the reason why no one made any offer for our Tyk2? (apology for my lack of knowledge about Tyk2)

James,
Hope PH will not do the same thing here. The SP of Sensyne is 70% down on a single day. What a terrific job PH did there with a huge fee. Well-done PH!!!!!!

gixer,
I think that is a transfer like 10m few weeks back. Something probably is brewing up at the back ground.

Aber,
We fully agree with you for TM to move side ways for a fresh new business minded to take control of the company. It was always true that top rated technical professionals are not top business minded person. So time has come for TM.

Few of us accumulated significant amount of SAR shares over 12 years. All of us agreed that we only vote yes in consolidation if the following criteria are satisfied:
1. SP is to be above 7P.
2. Consolidation should be 10 to 1.
3. There should be some deferred share option or warrants for LTH based on a prespecified date.
If all the three criteria are complied then we will vote yes otherwise it will be no from all of us.

Ahfam3,
Our good wish and prayer with you and your family. Hope his soul will get happiness and peace in haven.

RMM,
As usual great post with good explanation. So your original valuation between 10p to 30p should be reviewed based the consolidation is done. Please post your valuation after the consolidation.

AGM Q&A

https://www.investormeetcompany.com/investor/meeting/agm-proceedings-6

Q1: Regarding SDC-1801, are you looking to out license to 1 company or is it possible to out license to multiple companies with each targeting different areas?

Generally, pharmaceutical partners require a licence for all indications of a product and this is typically the way to maximise the value of an asset in any out-licensing deal.
Q2: I am probably one of your longest serving private shareholders. There seems to be a common theme of missing deadlines, weeks with no news, even before COVID, why is this? You must know that with no official news or even supporting news for the company, the SP just slides back. I have been a shareholder for over 10 years and you miss promised deadlines practically every year why do you never keep to your own deadlines. Also I know there is a shortage of funds but presentations need to be carried out more professional. Given the numerous previous CTA news release, if there are further delays in CTA or even the finalisation of the toxicology works, how can investors hold and faith in Sareum and what it declares. What are the key challenges that you see to hitting the timeliness set out for the compounds getting into clinical trials on time? The company struggles with meeting its deadlines and this (often) disappoints the market. What can the company do to mitigate this in the future? Cash is less of a concern now - can this help to find better/further partners? Do you have any concerns about the CTA for SDC-1801? If so what are they and can you give investors any comfort around these concerns?

Drug development is a risky and very challenging undertaking and there are many experiments and stages that need to be completed to ensure that a compound is safe and available in an appropriate dose and formulation for clinical trials.

The duration of each step of this process is only a best estimation but research isn't always predicable and unforeseen problems can arise which delay progress for any drug development company: Covid-19 being one of them.

We have completed the toxicology studies for SDC-1801 and expect the final report in Q1 next year and in the meantime, we are completing the trial design work and the work needed to produce the drug in capsule format. If all this is positive and on time, then we would expect to submit our CTA in mid 2022, which we believe would be a significant milestone for our company.
Q3: Will there be a rights issue or consolidation of shares now Peel Hunt are on board? Why does the company feel that a Share Consolidation will be good for the company and its shareholders. At previous AGMs, it was quite clear the Board did not see the value of a consolidation - it was pretty much dismissed. What's changed?

The two parts of this question are not necessarily linked.

Like all companies we do not comment on whether rights issues or sAhare placings are being considered. However, as is norma

Slam01,
Very good point. If you have the contact details of our good friend IF please forward it to him.

Hello our good friend TM,
Hope you have something good for COVID sufferer. So why not show everyone what you have rather than sitting on top of it and waiting for billion pound offer. Everybody is going ahead of you. Just another example.
https://www.bbc.co.uk/news/health-59839584

Hi Potnak,
Best wishes for your family. Wish and pray that all of you will recover and get well soon.

guys,
I think the 2m trade is like the previous 10m trade. It is probably a transfer from SM or DSM to By Health. By Health probably is building a stake before they make a good offer to buy PXS (imho).

Basser1,
I am also thinking along the same line of 1:10 ratio. Also there should be some bonus as warrants. Few of us will vote no if it is not along with this line.

gixer,
I do not think that is a buy. It is probably a transfer of similar types of transfer happened few weeks back. However it is difficult to confirm. Just my humble opinion.

https://www.edisongroup.com/publication/agm-produces-key-highlights/30349
Sareum’s annual general meeting (AGM) on 16 December provided key updates on its upcoming business plans. Final toxicology and safety studies for lead asset SDC-1801 (which is essential in applying for an exploratory clinical trial authorisation, CTA) have been completed, with study data expected to be finalised by Q122. CTA filing remains on track for mid-2022. The funding situation has been bolstered with the most recent fund-raising (£1.63m on 16 December) and Sareum estimates the pro forma cash balance (c £6m) to be sufficient to take SDC-1801 through Phase Ia clinical trials and complete preclinical studies for SDC-1802. A key highlight of the AGM was the board’s decision to consider undertaking a share consolidation in 2022 (terms of the consolidation will be discussed at an extraordinary general meeting (EGM) planned for early 2022). The intention is to reduce the number of shares outstanding (currently 3.37bn) with the objective of generating interest from institutional investors.

Year end

Revenue (£m)

PBT
(£m)

EPS
(p)

DPS
(p)

P/E
(x)

Yield
(%)

06/18

0.0

(1.7)

(0.06)

0.0

N/A

N/A

06/19

0.0

(1.7)

(0.05)

0.0

N/A

N/A

06/20

0.04

(1.1)

(0.03)

0.0

N/A

N/A

06/21

0.0

(1.7)

(0.05)

0.0

N/A

N/A

Source: Company data

We are encouraged to see final preclinical toxicology and safety studies for SDC-1801 being completed, but see the results from the study (data analysis underway) as crucial to Sareum’s plans for a CTA filing, particularly in light of increasing toxicity concerns around the JAK class of assets (see our previous update for more details). Sareum intends to use these data to determine the appropriate first-in-human dose and identify which organs/tissues are susceptible to high-dose toxicity. It has disclosed that although data analysis is ongoing, the initial results are encouraging and support SDC-1801’s progression to the clinic. As indicated in our previous note, the exploratory study will assess the safety of SDC-1801 in healthy volunteers (trial design being finalised), during which time Sareum will explore initial target indications for SDC-1801. Importantly, the company expects SDC-1801’s clinical development to support the asset’s advancement as a potential treatment for COVID-19-related respiratory symptoms, for which it is seeking funding from the UK government’s AGILE platform/equivalent platforms. We also anticipate faster progression in the development of SDC-1802 (currently undergoing translational studies to identify an optimal cancer indication and patient population) once SDC-1801 enters the clinic. The funding situation appears satisfactory with the most recent fund-raise (32.6m shares issued at 5p to high-net-worth individuals) taking the pro forma cash balance to c £6m. Sareum expects this capital pool to be adequate to complete Phase

RMM,
Many thanks for your. I have burnt my finger in VAL consolidation very badly. So when it comes to consolidation I always very suspicious. Hope SAR will not follow the similar pattern as VAL when it comes to consolidation

T2,
Are you still in or bailing out already?

Hi T2 and RMM,
So what your view about AGM and proposed consolidation?