Member Info for FatherTedCrilly

When Octopus have finished accumulating…

Or the potential partner is not a pharma. It could be a purely commercial interest. Which might explain why Sareum are running the Tox studies.

(Caveat. This is largely guesswork. I’m not even sure that I think this is the case… Just a possibility)

This is the nature of investing in small, pre-clinical / early clinical businesses... there are long periods of waiting between milestones.

Also, the next news could involve the AI data or encapsulation programmes. I know POLB-001 is the main focus, but I like the look of the encapsulation programme. We have a few shots at goal.

Thank Damion - that's reassuring I was concerned about why it might be delayed (I obviously should have gone back and read the RNS more carefully :-)

Hi Aber

This is why I've asked for clarity - it can be interpreted both ways. The wording on the diagram is ambiguous.

Cheers Ted

One of the questions I put yesterday (none were asked - hopefully there will be written answers soon) concerned timescales for the Tox study data.

My reading of the presentation was that the Tox studies are planned to start in Q2 2025. So presumably the data will be Q1 2026 (as it was explicitly said they would take 6 months).

I'd like clarity on this, as this is just my interpretation.

Re: Tox

The way it was described in the presentation - the longer term tox is a pre-requisite for Phase 2 trial approval (2 species for the same length of time as the trial - so 16 weeks).

I think that was the response - I was trying to multitask this afternoon and couldn't give my full attention...

"it appears to work"

Sorry Krusty, but unless I've missed something huge, 1801 has not been trialed for efficacy. And it won't be for some time yet...

From the RNS

"...toxicology studies, of up to four months and in two species, which are required to match the intended duration of the dosing of patients in these Phase 2 studies."

Why the f*ck wasn't this planned for?

Is this just a total lack of strategy and forward thinking?

Or are they deliberately prolonging this to pocket salary and pension before they have to face the 'make or break' efficacy trial stage?

scenarios:

1. rns this afternoon

2. rns tomorrow morning

3. no rns

it is number 3 that concerns me. the idea that a pivot from 'phase 2 trials' to 'long term toxicity studies' is not price sensitive is a joke.

and remember, the whole riverfort shambles was so sareum could (in there own words)

" use the facility, if fully drawn, together with the receipt of anticipated tax credits to the amount of £1.6 million, to complete the phase 1a/b clinical development of the company's lead candidate sdc-1801"

only it isn't complete is it? only phase 1a is complete. and now sareum are going to undertake additional tox studies, length not disclosed.

the more i think about this - the less i like it (and i thought it was a bag of ****e to start with).

i really hope that i'm wrong - and there is a positive reason for the continued silence on this.

Good evening SOG

You said " On good long term toxicity study news the price will increase several fold."

Do you mean several fold from today's close?

Or do you believe that the SP will drop when the length of the study is announced - and good results will simply take the SP back to where it is now?

Potnak - that is exactly what worries me.

Almost always, the best option is to get bad news* into the public domain as quickly and honestly as possible.

* if it is bad news

I think Enki has nailed this with his reference back to lasts years AGM questions.

"Begs the question why the extra tox studies if they had known all along?"

The answer (or lack of answer) about the pivot to tox studies will define this AGM. And possibly shareholder opinion.

If the Board of Directors are reading this, can I please advise total honesty - even if the answer is unpalatable.

Simply repeating the guff about "these studies will substantially enhance the compound's attractiveness" isn't going to cut it.

Thanks Lazarus. Anyway, here's to the BoD giving us something positive in the next few days as well :-)

Off out for the day now. Good luck all, FTC

1. Not consolidated. It was pointless. It is the market cap that is important, it really doesn't matter how many shares that is divided by. And anyway, the post-riverfort placing wasn't far off Sareum's pre-consolidation price.

2. Worked out every possible (within reason) contingency on the road to Phase 2, and raised funds to cover this in one go, with clear comms to the market about why this is needed. A little early pain to protect the company down the road.

Why are these long term tox studies only coming to light now???

3. At least floated the idea of a PI fund raise before choosing riverfort>

And yeah, I know everything is easier in hindsight - but the board are being paid enough to get these things right.

A completely unnecessary consolidation.

A (death spiral) finance deal that almost destroyed the company.

A discounted placing and (potential long) delay to carry out tox studies that were never previously mentioned.

Frankly I'm amazed there isn't more vitriol.

And I'm stunned that people are actually defending the board.

The management has been appalling.

Might depend on the timescales for the long term toxicity studies... If this is projected to be 12months+ then I think the SP might take a large hit. Lots of PIs bought at the previous placing and soon afterwards (i.e. in the teens). They might want to stay in for 737 news, they might not.

Alternatively, and on a more positive note, the BoD might have good 737 news to sweeten the delay on 1801.

We wait...

Laz... just to be clear. Are you asking why shareholders are unhappy that some investors/institutions, can buy shares at a 30% discount, to fund toxicity tests that no-one knew were needed?

Sorry guys - negative post coming.

I do not see this morning's news as a positive.

If they needed more funds, why wasn't the raise done in one go?

If they didn't need more funding, and the institution approached them, then what the actual f*ck! We'll take your £1million and give you discounted shares (who cares if it further dilutes the holding of PIs)

Until Sareum present clear timelines and strategy it just looks like they are making it up as they go along.

I am massively p!ssed off with them.

I also don't believe the wider market (outside of this BB) is going to like this.

Rant over. I know this post won't be well received, I'll just assume a load of replies calling me a deramper and asking why I don't sell up - save you all the bother.

I think this is a question for an accountant. Does a UK PLC have to disclose shareholdings in another entity?

(I suspect the answer is no unless TR! territory - but I am 'NOT' an accountant)