Member Info for HotblackDesiato

Well PCS, sharing is caring and all that. I find digging keeps the mind active and it's easy to do whilst half-watching YT videos and planning future guitar purchases.

However I do fully intend invoicing everyone for my efforts when we finally get our day in the sun!

Just a bit more info on Treeline Bio: https://pitchbook.com/profiles/company/465513-13#overview

Back in Feb 2023 Jiangsu Hengrui Pharma out-licensed US rights for a novel small molecule EZH2 inhibitor in a $706 million agreement with Treeline Biosciences of Connecticut. Treeline is an 18-month-old small molecule pharma that has raised $473 million for novel drug development. Hengrui has filed a China IND for SHR2554 in patients with peripheral T-cell lymphoma (PTCL), though the company also says it will publish results from a pre-Phase I clinical trial in the Lancet. Hengrui will receive an upfront payment of $11 million and milestone of up to $695 million, plus royalties.

https://www.chinabiotoday.com/articles/hengrui-706-million-treeline

They're definitely playing their pipeline cards close to their chest though.

Hi Bill - in your opinion, do you think the licencee of 737 will be disclosed once we get the milestone shares due at the end of the year?

Regards.

Morning Krone - now that is one secretive company! I've found a few similar candidates whilst trawling for 737 info and it's baffling how these companies manage to raise huge funds with such little info in the public domain.

If you look at the latest entry for Treeline in the link below, they've raised over $420m but remain in the shadows.

https://www.sec.gov/edgar/search/#/entityName=Treeline%2520Biosciences%252C%2520Inc.

Unless some 737 news shows up soon, I imagine the BoD will have to name the license holder once we get our share of the 12mth milestone payment and share allocation at the end of the year. After all if we hold shares in SAR and the company has shares in another entity, we have a right to know who that is.

Regards.

Just for info - https://www.hsi.org/news-resources/time_and_cost/

Morning SOG - do you mean this?

https://www.youtube.com/watch?v=h6zdOkooHzY

Hi JD - if ChatGPT gets the name of the compound wrong, what chance does it have with predicting timescales?!

Hi SOG - as you say there are many psoriasis treatments, probably most likely due to the global market size and it might be regarded as an easy target for new drugs. Do you think a prospective partner may have said that the market is getting a bit crowded so they'd be more interested in 1801 initially for another indication? Also, do you know if these further tox trials would provide additional useful data with respect to biomarkers for other conditions?

As Tim stated at an Investor Meets event, a pharma would want to license 1801 (or '2) for all potential indications as it's fairly unheard of to license a drug for a single treatment. Perhaps there's a bit of a standoff between the BoD planning for psoriasis but a pharma would want us to tackle something else before getting their chequebook out.

Hopefully the forthcoming report will bring clarity on which direction we're ultimately heading in.

Well played BB. Good to know all shareholders are on a level playing field with regards to info.

Hi LSBM - we're not on the list below but the Edison report did say the results would be out this month.

https://www.lse.co.uk/share-prices/financial-diary.html?selected-date=14-Oct-2024&mode=month&type=finals

Hi PCS - it had to happen eventually. In other news, the shorters can get bent.

Makes you wonder if any of those buys are clients of the corporates & the institution that funded us now buying in directly.

Evening Basser - for 1801 to have a £3bn+ valuation it'd need to either be P3-ready having aced lengthy P2 psoriasis trials or it would have to have shown compelling results in multiple indications. As much as I'd like a £30 sp, if there were even a whiff that 1801 was on course for that level of value we'd be bought out long before.

IF 1801 could give best-in-class results early on in a P2 trial then I can maybe see the £800m figure many have proposed. Since we only have two compounds in our pipeline (ignoring 737 for now), I think the best we could hope for is a £1bn valuation IF a T/O was on the cards based on excellent progress in early P2 trials combined with encouraging 1802 preclinical data. In a nutshell, I'd be happy with £10 a share by this time next year. But I may review this valuation again once my medication wears off.

Regards.

Having contacted the BoD directly prior to the earlier public raise, I wonder if Billy-Bunter can shed any light on what may or may not be revealed when funding is discussed.

Hi Blastoid - is this normal? It really all depends is the short answer. We would have been guided by both the Nucleus Network and whatever studies T&J would have researched prior to starting P1a. The SAD/MAD study used 79 volunteers in a 3:1 ratio so let's assume 19 on placebo and 60 on 1801. Based on what I've read over the last few years, this is a reasonable number for the trial. If we were a large pharma we would possibly have had double those numbers and a longer trial but that costs money we didn't have.

What I'd like to know is if the required additional tox studies will be in humans or not and who has deemed them a requirement. It may be a case of they wouldn't be required if we'd done a P1b study but since we want to jump to P2, that's a larger undertaking and so whichever region (UK/Oz/US) we're looking at to run the P2 study in, the authorities there want more substantial tox data, possibly linked to the black box warnings on earlier inhibitors.

Hi Krone, the RNS also noted 'The Company anticipates that these studies will substantially enhance the compound's attractiveness to potential out-licensing partners, should it choose to pursue this strategic option for Phase 2 development.'

"Should it choose" sounds like we have options. Maybe a partner was taking too long to make a decision so we said we can go it alone for the interim and the net effect is you'll be paying far more for 1801 in due course so stick that in your pipe and smoke it.

Regards.

Hi SOG/Damion - this may simply be a belt and braces approach to ensure there will not be any of the black box warnings seen with earlier inhibitors.

If further tox trials aren't in humans (let's avoid added expense if we can), they may be more likely to use canines over murines as the mice used are mostly inbred and therefore do not have the genetic variations that humans do meaning they're not a suitable model for an inflammation study. From what I've read, a dog's liver is the most sensitive organ re the build up of toxic effects when metabolising a compound compared to humans so it may prove the quicker/cheaper route to building a more robust tox report.

That all said, I would have thought the CRO/Nucleus Network would have been able to advise on participant numbers required and over what timeframe in order to provide statistically valid data to ensure we'd meet the criteria required for P2 (though they wouldn't have initially known that P1b would be skipped). Perhaps the no P1b trial is also a factor here.

Much to ponder.

"We will present a more detailed analysis of Sareum’s ongoing programmes following the release of the full-year results later this month."

I wonder if that means we'll get an update on 737 too.

Hi Andy - Potnak's mask finally slips and I add another to my filtered list.

Where does the RNS say 'animal studies'? Extended tox studies can be carried out in humans - it's just a case of more volunteers over a longer timescale to fully understand 1801's profile.