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Thanks all for the swift replies.
SOG - re those initial warrants at 147p, under the terms of the agreement (or 'shafting' to use a more appropriate term), aren't they reduced to 10p due to the subsequent WRAP/Subscription?
I suppose it's all fairly moot now anyway and a potential partner would review all aspects of the company & compound before entering into a deal.
RF dumped their shares as soon as they got them (or even before!) so what are the chances that they'll shortly cash in their warrants to make a quick return now that the sp is over 30p?
Would any prospective partner for 1801 want them out of the picture completely or wouldn't it matter to them?
Any thoughts?
Only posting this to illustrate our compounds are known by at least one big pharma. Whilst the patents only mention 1801/2 in the context of myriad other compounds, at least we're not flying totally under the radar. I came across the patents by searching the WIPO site for anything referencing SDC-1801 and then based on those results, limited it to results with "Gilead or MiroBio" AND "SDC-1801" -
https://patentscope.wipo.int/search/en/result.jsf?_vid=P12-LVCGCV-13961
MiroBio was an Oxford spinout acquired by Gilead for £332m - https://www.ox.ac.uk/news/2022-08-04-oxford-spinout-mirobio-acquired-gilead-sciences-405m
Onwards!
Knew I'd find it somewhere - https://apps.dtic.mil/sti/pdfs/AD1087498.pdf
5. CHANGES/PROBLEMS:
We received a no cost extension for this project in April 2018. The PI on this project, Dr. Abhishek
Trigunaite, had to travel to his home country (India) for immigration related issues (VISA stamping).
Because of the unanticipated length of the processing time, he was required to stay in India for nearly
3 months and only able to return close to the termination date of the project. This loss of effort meant
that we were unable to perform the long-term dosing studies prior to the termination date of the grant.
Additionally, at the beginning of this award we had only proposed to look at only one strain of lupus
prone mice ((NZBxNZW) F1 mice) but later during the scientific review of the proposal, it was
decided to include a second mouse model (MRL/lpr) in the study. This increase in the animal number
for the short term (4-6 week) treatment did not leave us with enough funds to perform a long-term
survival study.
Hi Celtic - the trial was with 1802 and the lead researcher had to return to India due to their visa running out or family issues so the work was never completed.
https://www.pharmiweb.com/press-release/2020-07-24/encouraging-preclinical-results-generated-with-sareum-s-tyk2jak1-inhibitors-in-a-disease-model-of-lupus
I'll try and find the actual project doc on the US Military site.
Hi Aber - I'm not saying the rise is down to Parker at all. All I'm suggesting is a number of shareholders will have made money out of the situation.
If life hands you lemons, squirt lemon juice back in life's eyes.
Even if there's an outside chance of a Monday morning RNS I expect a further surge tomorrow afternoon as FOMO kicks in.
Hi Silver - I wonder how many of the posters who wanted Parker's head on a spike filled up with cheap shares and are now secretly quite grateful for the RF shotfest (typo?) as they are now printing money.
Amazing what more than doubling your cash in 10 days can do for the spirits.
Onwards!
Hi Stick - Revel or Airfix?
(Sorry, couldn't resist)
Hi Bailiff - as long as she didn't get any of your SAR shares then all is well. By any chance is Auckland the furthest point on the globe from Bailiff HQ?
Best wishes.
Quick Bailiff, get Mrs. Bailiff on another cruise!
Evening all - I just hope that the success of the recent WRAP offer (hats off to B-B et al) will open the BoD's eyes and any future fundraise will be available through all major platforms. I'm still miffed that Halifax didn't take part even though I managed to fill my ISA for this year at sub-12p - no pleasing some folk!
Just thinking aloud so apologies if I'm way off the mark -
If the BoD received a glowing report from P1a tomorrow would it be in their interest to delay the news until they'd got shot of RF as much as possible? I know significant news needs to be RNS'd immediately but they could sit on it for a wee while yet under the guise of giving the report full consideration and planning next steps etc. In the meantime RF dump their shares reducing what they are due (excluding warrants). The BoD could then announce the results, ensuring the sp has a chance of a clear run much higher without extended RF sells to hold it back.
Stellar results and a positive Investor Meets presentation telling us all how wonderful 1801 is might go some way to gloss over the RF debacle. Yes, there are still unanswered questions over RF & PH but seeing JR doing cartwheels over his invention would quickly take the sting out of recent events.
Is it fair to presume any recent shorts are now closed? There are a few short trackers on the web but I don't see any evidence PH had a short unless it was below the threshold for declaring it.
https://www.fca.org.uk/markets/short-selling/notification-disclosure-net-short-positions
https://www.investegate.co.uk/company/SAR/short-positions
https://shorttracker.co.uk/company/GB00B02RFS12/
A steady daily climb of 10% will do nicely.
Hi Laz - I can almost imagine a sort of domino effect. RF needed funds to carry out their reverse takeover of SVEN but couldn't raise the cash so their only option was to dump chunks of their portfolio to prop themselves up. That led to the decimation of our sp and a great deal of finger pointing. If the city/AIM weren't in the state they're in then maybe both SAR & RF could've accessed the funding each needed without all the resulting fallout.
I expect we'll never know the real truth of the matter.
Interesting article, George. It echoes another post I put up the other day and gives some support to the notion that the city wasn't keen to help us raise funds thereby leading to the RF situation.
OFFS!! "further along the road than P1b"
Sorry, should read "...further along the road than P1a"
Evening Celtic - the SAD/MAD/Food trials are all about ensuring there are no nasty side effects based on varying dosage. So far the BoD has only been able to state, "... interim data shows that levels of SDC-1801 in blood are already in the expected therapeutic range, and achieve concentrations greater than those predicted to reduce signalling of cytokines dependent on TYK2 and/or JAK1 activity by 50% for a sustained period following once daily oral dosing. Safety data remains blinded, but no serious adverse events have been reported to date."
So far, so good.
It's only once they complete the MAD trial and get the safety data that they can start testing 1801 in psoriasis patients. That would be the P1b part of the trial however the BoD have said they are looking to skip 1b and head for Phase 2a (broadly speaking they serve the same purpose and would have the same number of patients). The bonus for us is it accelerates things in the sense that P2a is further along the road than P1a and so a successful P2a would result in 1801 having a much higher monetary value compared to completing a P1b.
As far as I can tell the final volunteers for P1a were recruited at the start of Jan and I think we're looking at 2mths from them starting the trial (screening etc.) and the follow-up (any side effects?). That suggests we're maybe now into the window where the safety review committee are looking at the data and deciding if the P2a trial can go ahead and what dose should be used.
The trial will have created a huge amount of data and isn't something that can be skimmed through to arrive at a judgement. No idea how long it'll take to get a verdict but we must be talking a matter of only a few weeks.
Why on earth would the BoD buy on the open market when they could put the money directly into the business where it can contribute to progressing 1801/2?