Member Info for HotblackDesiato

Sorry if already posted.

https://www.fortunebusinessinsights.com/industry-reports/psoriasis-treatment-market-100600

"Asia Pacific psoriasis treatment market is anticipated to record the highest growth rate due to the rising number of government initiatives to raise awareness among the population regarding the complications of prolonged psoriasis. Furthermore, the governments promoting the manufacturers for clinical research & studies to develop and launch new drugs for psoriasis is expected to bolster the market growth.

In May 2023, Sareum Holdings PLC received approval from the Therapeutic Goods Administration, Australia, to commence phase I clinical trial of its drug SDC-1801 intended for treating patients suffering from psoriasis."

Good to hear you're on the mend PCS.

Re 737, I'm just reading the Annual Report (link below) and according to Page 10 "There is a further milestone due in November 2024, with a further payment due to the collaborators."

https://sareum.com/wp-content/uploads/2024/11/Sareum-Annual-Report-2024-FINAL-1.pdf

Do they mean December or is this a case of only telling us 'at the appropriate time'? Hmmmm.

Hi Krone, one of the questions I've submitted for the AGM is, 'Once the SDC-1801 trial results have been peer-reviewed, will the report be posted on the Sareum website or will shareholders have to await a formal publication in a journal?'

I think SP or TM said that we'd find out about the full results the day after they do. Didn't they suggest the peer-reviewed data is expected before the end of this month?

As for 737, IF it's handed back then wouldn't that suggest other players are deliberately supressing its advancement? Another year off the patent life etc.? However I think SP looked slightly positive about 737 in the YT interview when he said news should be with us the first week of Jan. They clearly know far more than they can let on.

At least if you're an insomniac it's only another 3 sleeps 'til we get answers.

So as we approach Christmas some people may need to rustle up a bit of extra cash. If we saw sells of 100k shares at a time I'd raise an eyebrow. Question is, whose dick are you pulling? Sure as hell ain't mine.

I wonder if 737 could follow in their footsteps - https://www.lse.co.uk/news/astrazeneca-daiichi-sankyo-hail-us-breakthrough-therapy-designation-ikfcnyja7sru139.html

"AstraZeneca PLC and Daiichi Sankyo Co Ltd on Monday announced they have been granted a breakthrough therapy designation in the US to treat some sufferers of non-small cell lung cancer.

The Cambridge-based and Tokyo-based pharmaceutical companies said their datopotamab deruxtecan treatment has been granted breakthrough therapy designation in the US for adults with disease progression on or after treatment with an epidermal growth factor receptor tyrosine kinase inhibitor and platinum-based chemotherapy advanced EGFR-mutated non-small cell lung cancer.

Breakthrough therapy designation by the US Food & Drug Administration aims to quicken the development and regulatory review of a drug. The treatment is being jointly developed by AstraZeneca and Daiichi Sankyo."

Morning SOG - my point was simply that Big Pharma will promote their compounds irrespective of any downsides right up to the point they get faced with a lawsuit.

Hi SOG - just to correct you, BMS merged with Celgene, not Amgen, in that $74bn deal https://pharmaphorum.com/news/74bn-bms-celgene-merger-finally-cleared-by-competition-regulators

As for, 'Who in their right mind is going to prescribe Baricitinib for SLE with adverse events associated with Jak2 ie EPO thrombosis and blood clots to start with.' Knowing a drug has failings doesn't stop Big Pharma. Did you see the TV series Dopesick about Purdue Pharma pushing their OxyContin painkiller by saying it's a non-addictive opioid? It didn't end well - https://www.bbc.co.uk/news/business-54636002

Anyway, I know that the recent Investival presentation focused on the Oz trial results but it would have been good if Tim had added a sentence or two on the UKRI funding to investigate the therapeutic potential of 1801 in preclinical models of severe phase Covid-19. Never miss an opportunity to mention all of a product's bells and whistles!

Regards.

Sorry, should have added a bit more for clarity - if the offer was accepted then the share would be suspended at that point pending formal acceptance and the sale. If rejected, the sp would plummet but at least those who wanted out would have done so directly after voting 'No' and those wanting to remain invested will have fastened their seatbelts in the hope of a larger offer.

Hi Luton - from what I've seen, if a company receives a t/o offer the share isn't suspended, the BoD recommends to shareholders whether to accept or reject it and the share trades at a few points below the offer price.

So where would that leave us?

IF we were offered 150p per share, those wanting to accept could vote 'No' but still sell their shares at close to their 'get out' figure. For those wanting more than 150p, shareholders will have effectively rejected the offer thanks in part to a group effort from those bailing out at, say, 147p. Those who remain invested will therefore take the gamble that the offer price will be increased.

Surely that would be a win-win as those who want out are free to do so and at the same time, help those who want to hold out for more.

Hope that makes sense.

At peak 'covid-enhanced' prices we had an mcap of something like £300m (give or take). Even though that boost is long gone from across the whole small pharma market, we are now seeing strong signs from the BoD that 1801 could be a major breakthrough in the treatment of some diseases. That in itself should not be underestimated when trying to ascribe a value on the whole company.

True, we still don't know how effective it is in patients and we don't yet know what 737 is really up to in the US (not even a postcard!), not to mention 1802's never-ending translational studies, but to suggest SAR should be sold for £1 a share is almost an admission of failure. I can understand LTH's being fed up with our situation but within a month we should know the results of the 1801 peer-review and have some understanding of 737's future. IF both are positive and the sp doesn't respond significantly then I would take it as a clear sign the sp is being artificially supressed.

And for the benefit of some correspondents, tomorrow's jam will actually be marmalade. With bits in.

Hi Shepster - I sometimes look to see if I can find out the roomsize for these presentations to gauge a potential audience size. However even if only two people show up, if they are the 'right' two people then that's all that matters. Far better to have interested parties listen to you rather than passers-by just killing time until their next appointment.

I've submitted a few questions to the AGM InvestorMeet event, one of which is 'Approximately how many people were in the audience for Tim's presentation at the Investival 2024 event and did it lead to any direct conversations afterwards?'

I suspect the Q&A session wasn't broadcast as questioners may have had to announce their name and company details....or the room was empty!

"Pipeline in a product" - says it all. Form an orderly queue!

Hi Bailiff - didn't BillyBunter indicate he'd be buying a chunk more this month? Maybe he's got his order in and they're trying to fill it. Even if it isn't BB, sounds like shares are getting hard to come by...almost as if people know news is due!

Hi SOG, Acrivon mention 737 as a competitor - see page 83 in the link to their annual report below.

https://www.sec.gov/Archives/edgar/data/1781174/000095017024037618/acrv-20231231.htm

"We anticipate several biopharmaceutical companies will aim to develop precision oncology approaches for the larger subsets of cancers where genetics has proven insufficient for patient responder identification over the next decade. We expect that the broader biopharmaceutical field will eventually recognize proteomics as the next era of precision medicine. We are aware of several competitors with CHK1/2 inhibitors and WEE1 inhibitors, including Sierra Oncology (SRA737), Zentalis (azenosertib), Debiopharm (Debio0123), Impact Therapeutics (IMP7068) and Shouya Holdings (SY-4835), one company with a PKMYT1 inhibitor, Repare Therapeutics (lunresertib), and one company with a dual WEE1/PKMYT1 inhibitor, Schrödinger (SGR-3515).

Many of the companies against which we are competing or against which we may compete in the future, either alone or through collaborations, have significantly greater financial resources and expertise in research and development, manufacturing, preclinical testing, conducting clinical trials, obtaining regulatory approvals and marketing approved products than we do. Mergers and acquisitions in the pharmaceutical and biotechnology industries may result in even more resources being concentrated among a smaller number of our competitors. Smaller and other early-stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies."

Hi Leggster - I often look on the US SEC website (amongst many others) for anything 737-related and what I can say is it's so far off the radar that whoever currently has it knows how to keep a secret.

For example, IF Treeline Bio has it, they are playing within the rules of what the need to announce to the market. The link below is the latest filing relating to the recent offering for $422m.

https://www.sec.gov/Archives/edgar/data/1856619/000185661924000002/xslFormDX01/primary_doc.xml

They don't have to declare much as there is a rule covering private placments: https://www.sec.gov/resources-small-businesses/exempt-offerings/private-placements-rule-506b

I also posted ages ago that clinical trials do not have to be recorded on any govt. website if they are privately funded.

So where does that leave us?

I'd suggest that part of the license agreement is they have to provide verifiable proof after 12mths to CPF that 737 is at 'stage X' (whatever that may be) and pay milestones based on that. We got the license RNS on 2/1/24 so I'd imagine Parker will be on the phone to CPF on a daily basis around that time to see where we're at.

As a reminder, "Under the terms of the Licensing Agreement, an immediate upfront payment of US$0.5 million is due to CPF. An additional fee made up of up to US$1.0 million cash and 500,000 shares in the Licensee Company (the "Consideration Shares") may be payable upon the sooner of 12 months following the signing of the Licensing Agreement, or the event of the Licensee Company achieving certain commercial and material financing objectives. A further announcement regarding any future income, including any Consideration Shares which may be issued, will be made at the appropriate time.

Additional payments to the aggregate amount of up to US$289 million may become payable to CPF under the Licensing Agreement, subject to achievement of certain development, regulatory and commercial milestones which may or may not be achieved. The Licensee Company will also pay tiered high single digit royalties to CPF on the net sales of any product successfully developed and commercialised."

Can't be long now.

Hi FF - the InvestorMeet session is open for 1hr but I imagine you can corner any of the BoD for a bit afterwards.

Just wondering if those large 'unknown' trades at full ask were likely to have been between brokers? I know the buy/sell algorithm isn't the best but when trades are clearly at top dollar then why not mark them as buys?

Hi Silver - 44 companies registered there.

https://find-and-update.company-information.service.gov.uk/advanced-search/get-results?companyNameIncludes=&companyNameExcludes=®isteredOfficeAddress=88+wood+street+EC2V+7QR&incorporationFromDay=&incorporationFromMonth=&incorporationFromYear=&incorporationToDay=&incorporationToMonth=&incorporationToYear=&sicCodes=&dissolvedFromDay=&dissolvedFromMonth=&dissolvedFromYear=&dissolvedToDay=&dissolvedToMonth=&dissolvedToYear=

Morning Aber - lack of comms from the BoD isn't proof that the tox trials haven't started.

That aside, there could be any number of reasons for the trials not being underway:

1. Is the BoD dealing directly with a test site or are they reliant on a CRO as intermediary?

2. Are there tax benefits to be had in running tests in a particular country?

3. Once a lab is chosen, do they currently have the capacity? I doubt labs are sat twiddling their thumbs waiting on our phone call.

4. If a lab isn't fully booked, do they have suitable numbers of screened/healthy animals available? I posted a while back that lab mice aren't necessarily a good choice for certain testing as they are often inbred and therefore already immuno compromised.

Anyhoo, we've waited this long so another few months won't kill us.