Member Info for HotblackDesiato

Sorry Krone, should have added: whilst the response rate was just 10.8%, we should remember that the patients had advanced cancer and the trial was a final roll of the dice for them. If they had started treatment earlier in their diagnosis the story would possibly be quite different.

Morning Krone - just regarding 737, that link refers to the combo trial with Low-Dose Gemcitabine in patients with advanced cancer. The objective response rate (ORR) was 10.8% overall and notably the ORR in anogenital cancer was 25%. Partial tumor responses were observed in anogenital cancer, cervical cancer, high-grade serous ovarian cancer, rectal cancer, and small cell lung cancer - no mention of pancreatic cancer.

Regards.

Hi LJ - I'm just wondering if we'll see a TR-1 from the institution tomorrow. It's feasible that they still have the full 8m shares and those whopping sells the other day could have been a HNW having a bit of a fire sale due to their own needs - just because you're stinking rich today doesn't mean you'll be stinking rich tomorrow.

Hi Ben - from what JR has said in the past, patent life can be extended in a number of ways such as making changes to the formula.

https://www.obrienpatents.com/extending-life-patents-pharmaceutical-drugs/

https://www.mewburn.com/news-insights/playing-for-time-strategies-that-can-help-extend-a-drugs-patent-life

https://www.alston.com/-/media/files/insights/publications/2005/05/strategies-for-extending-the-life-of-patents/files/biopharm-spruill-may2005/fileattachment/biopharm-spruill-may2005.pdf

Regards.

Morning Krone - yeah, it's there for all to see. 737 is a very capable drug and the number of research papers that have been posted over the years validating its great potential for in-combo treatments goes on and on.

Hopefully the mid-year report will shed some light on the CPF deal - as SOG alluded, perhaps we only had to pay for the legal side of the transaction and SP managed to more than double our share via a simple face to face meeting with CPF.

Evening SOG - just as long as the sp remains around this level for one final top-up at the start of April, the BoD will then have my permission to sell up lock, stock and squeaky chair.

With those 8m cheap shares floating about I think we might see one or two heavy hitters scoop them up sooner rather than later.

Regards.

Well spotted Steve. Seems a bit of a last-minute decision though!

Thanks Aber. I know we have differences of opinion at times but we can only really go on what are known facts otherwise we tumble down the rabbit hole of Parker's only out for his own gain, snouts in the trough etc. etc.

I think what frustrates many here is that despite each of us owning a small part of the company, it doesn't mean we're entitled to know the contents of every boardroom discussion. That said, it would benefit the BoD greatly if they were seen to be aggressively pro-active re 737 i.e. rather than CPF sucking air through their teeth and wondering what to do now, we've said enough's enough, despite whatever costs are incurred, we want control over 737.

Clearly CRUK/CPF have dozens of drugs to ponder over whereas we can be much more focused. That isn't to take anything away from the fine work CRUK do but I doubt 737 was ever a top priority for them.

At least now we have a more appealing shop window.

Regards.

Hi All - I'd hope the BoD do an InvestorMeets session once the half-year report is issued, if only to answer the many questions l have.

1. In taking over the license for 737, was it by mutual agreement with CPF or did they approach Sareum with the desire to relinquish control? Presumably we had to pay to have the larger stake.

2. Does the BoD believe the mystery US-bio had honest intentions or do they feel 737 was deliberately shelved?

3. With 737 patented to 2034, does the BoD consider that is sufficiantly long enough for 737 to currently be an attractive proposition or will they have to start work sooner rather than later to extend the patent life?

4. Is there any end in sight for 1802's translational studies?

5. JR had suggested that a paper on 1801 would be submitted for publication. What's the current position?

6. Which two species will be used in the extended tox studies for 1801 and when do you expect them to be completed?

For all we know the CPF said they were pretty much done with 737 and were happy to hand it over for a small consideration. It would be good to know if SP read them the riot act and their poor due diligence led to a wasted year - give us control and we'll get the job done.

Are we taking bets that the 1802 translational studies will miraculously complete at the same time that 1801 completes the tox study?!

Knowing the two test species might help us gauge study costs - you can keep a mouse in a shoebox but a beagle needs a bit more looking after.

I could go on but will spare you!

Hi Nav - no such thing as a dumb question. It was only speculation since the RNS didn't say who it is. As long as it isn't another RF-type deal!

Hi BB - 600k shares over the next two trading sessions seems doable especially if the MMs can then increase the sp.

Either way, I trust many see this as a buying opportunity at current rates.

Hi Damion - I can't see a HNW selling at such a low price. Though it may well play into the hands of BB who stated recently that he intended buying more - either enough to trigger a TR-1 for himself or spread the load across family members. Oh to have such worries!

And to add, the MMs will now have a wodge of shares ready to boost the price in time for the start of April to catch all the buyers adding to their ISAs.

Is it possible those late trades are the institution forward selling enough shares ahead of their admission so that they won't have to issue a TR-1 on the 18th as they will now be below the threshold?

Hi Krone - to quote from the 737 presentation slides I posted on another thread, 737 has "Robust intellectual property protection with granted patents extending to 2034, plus the potential for extension."

From memory, JR once outlined how slight tweaks to manufacturing etc. would be enough to enable new patents therefore despite 737's current stalled development, it still has years of life ahead of it.

I'm presuming the funding announced today was to cover whatever costs were incurred by taking the license from CPF. Hopefully the mid-year update will provide more info.

Regards.

I posted ages ago that the BoD should negotiate with CPF to bring 737 back in-house. Glad to see they took my advice ;-)

The SAR website has been updated with a 2-page slide presentation for 737 - https://sareum.com/wp-content/uploads/2025/01/Sareum-Chk1i-SRA737-Jan25.pdf

Although it's dated Jan '25, I don't recall seeing the link before.

Once the new tax year starts I'll be buying more.

Hi PCS - just getting over my first encounter with covid (at least I'm presuming it's covid). I was going to get some Benylin to help with the cough but did some research first and it appears that the dextromethorphan it contains (a common active ingredient in cough suppressants), might cause SARS-CoV-2 pathogens to replicate!

Regards (cough, splutter, wheeze etc.)

Interesting post PCS, though the full-stop at the end of the link will cause an issue. This should work ok - https://www.fiercebiotech.com/biotech/jj-protagonists-oral-psoriasis-prospect-bests-bms-sotyktu-pair-phase-3-trials

"...J&J touts icotrokinra, which was born out of a 2017 collaboration with Protagonist, as the first oral peptide designed to selectively block IL-23. The stakes have been high for the drug, bearing in mind the competitive arena of IL-23 blockers and J&J's previous success in injectable contenders. While icotrokinra proved it could improve outcomes in phase 2 studies, the results didn’t quite live up to what J&J had seen during the phase 3 tests of its blockbuster injectable anti-IL-23 blocker Tremfya.

Still, the convenience of an oral delivery has meant that analysts had continued to argue that icotrokinra could be a serious competitor to BMS' Sotyktu."

For those who moan about how long SAR are taking to get things done, the above extract suggests it's taken at least 8yrs for icotrokinra to reach this stage. Add more time to that for initial discovery, translational studies, production and tox studies and in comparison SAR aren't doing too badly for a tiny company. Ignore the external delays (pandemic & MHRA etc.) and it's understandable why we are where we are.

Regards.

Hi SOG - looks like most of the researchers work at Ghent Uni in Belgium. Not sure when the research was done so don't know if it was during the on-license. We might get more info later this month when the half-year report is due but I doubt they'll say much about what the mystery company did with 737.

Hi SOG - just to add, I think tests in canines will be carried out too as I've read that their liver is far more sensitive to toxins than that of primates.

Regards.