Member Info for HotblackDesiato

Hi Ahfam - the slide notes 'Evaluating future development opportunities for SRA737' rather than saying the next step is P3. It's probably fair to say the the slide was written before the BoD had any hint of the Sierra data package so they might just be being cautious.

I'm not sure completing P2 means an automatic P3 comes next. Depending on the data, the results might suggest another P2 trial with differing parameters could be prudent.

Oh to be a fly on the wall at HQ!

Sorry if already posted but don't recall seeing this before: http://www.sareum.com/files/3616/7404/5299/Sareum_Company_Jan_23.pdf

Evening Leggster - the BoD have until the end of March to publish half-year results however the rules state they must be released as soon as they are available. Therefore all they need to do is withhold a key bit of info required by their auditor until it suits them and they're still playing within the rules.

As there is no real reason to delay the results since they mainly just tell us what has already happened, they may be holding them up in order to include a blockbuster in the 'look ahead' section of the report. At most we have 5 weeks until we find out if the BoD have been working hard to get Sierra to hand over all their data or working hard to review the data package and agree the way forward with the Pioneer Fund and/or prospective partners/owners.

From here on we might see a steady rise in sp - buy on speculation, sell on news etc.

Regards.

Make of it what you will -

On the 9th Feb I wrote to Tim:

"Dear Dr. Mitchell,

As a shareholder in Sareum, I would be grateful to know if Sierra Oncology have returned SRA737 as per the Oct. 2022 RNS.

I'm sure you understand that both shareholders and the wider market would be very keen to learn if there are any delays to this asset's return.

I appreciate an RNS to update the market may not be warranted however even a brief social media post to say Sareum is currently reviewing SRA737 data would be received positively."

I got a reply today from ir@sareum.co.uk

"Thank you for your email and enquiries regarding Sareum’s pipeline. The management is working hard on the items that you outline below and will provide an update to the market as soon as possible."

Ah well, at least I tried. Have a powerful weekend folks.

Morning Krone - low-level punters like us are never considered a key audience no matter which company it is. We've already bought in via the open market rather than handed millions directly to the company. I wonder what response you'd get if you approached Consilium posing as a wealthy investor looking to add a small biotech to your portfolio.

Looks like we could be waiting up to another month or so for an update - "The half-yearly financial report must be made public as soon as possible, but no later than three months, after the end of the period to which the report relates."

https://www.handbook.fca.org.uk/handbook/DTR/4/2.html

I quite agree, Aber. Although previous RNS and the AGM informed the market that 737 was expected to return in January, I'd hoped they would at least have tweeted something along the lines of "now to sift through the 737 data...". Without direct confirmation that 737 was handed back we shouldn't assume it was - I was wrong to think GSK would progress 737 and wrong to think the CTA would be a breeze so I'm not going to assume GSK/Sierra are playing by the rules.

Last night I was pondering why we might have a queue of people waiting to talk to us about 737. As 737 'belongs' to the Pioneer Fund why would interested parties not just approach the compound's owner? Afterall, the PF will get the same data package that we get and be just as capable of reviewing it. So is it possible a pharma wants to buy 737 outright and because we get a share of milestone payments and royalties, they'd need to negotiate with the BoD to buy out our share, hence the queue?

Regards.

J4F - the BoD have stated that the lab was licensed at the time they carried out work for us.

Not a difficult concept to understand.

This may help with pricing - https://www.alibaba.com/product-detail/The-Vanadium-Electrolyte-for-the-components_1600510155292.html?spm=a2700.details.0.0.3a0d6838q7SZU4

Evening SOG - I recognise much in what you say, integrity is lacking in so many areas of society. But mainly in Westminster.

There's already too much anger on the internet so I've deleted the extensive rant I'd just written out. No point adding to what's been said. A shame really. It had some nifty metaphors and went on to question why there's only one monopolies commission.

Hopefully we'll get an RNS next week to help steer the forum back on track!

Just for info, if I've read the following link correctly then a trial in the US can start just 30 days after an investigational new drug application has been submitted to the FDA. Unless the FDA notifies the sponsor that the application is on hold then it's automatically approved after 30 calendar days.

https://clinregs.niaid.nih.gov/country/united-states#timeline_of_review

Hi RMM - Management used to take a dim view of me due to my own cynical nature however I'd always counter it by observing 'a cynic is what an idealist calls a realist'. You can imagine how well that would go down. At least I quickly found out that speaking truth to power is a fool's errand.

April can't come soon enough and with any luck I'll get those remaining shares sitting outside my ISA moved asap. Just in case you weren't aware, the CGT allowance has plummeted to just £6k for 2023/24.

Anyway, thank you for your contributions to this site and I hope your Cornish break was relaxing.

Looks like AbbVie are actively on the search for a Humira replacement and have money to burn - https://www.fiercebiotech.com/biotech/abbvie-chief-says-expect-us-act-ma-when-it-fits-company-plots-post-humira-plans

Hi RMM - just to pick up on your point re covid & current delays to CTAs - by any chance are you suggesting that the govt threw money at covid because it was impacting GDP whereas heart disease etc mainly affects the older (retired and more expensive to maintain) population? So get the young back to work and, ahem, allow nature to 'thin the aging herd' in order to save NHS funds? As if the govt would even consider such a thing!

Best regards.

Indeed, Krone. This is why I thought it would be good to get word that 737 has formally been returned (or if GSK/SO have kicked the return into the long grass).

Just while we await news, I've found the following guidance on the EU process for reviewing a CTA. I'll spare you the work and say it's about 60 days depending on questions asked etc. Even though one application covers all member states, each member state can ask their own questions re the application - how much red tape would you like?!

https://www.ema.europa.eu/en/documents/other/clinical-trial-information-system-ctis-evaluation-timelines_en.pdf

I suppose the BoD find themselves in a situation similar to being stuck in traffic - do they just sit tight and wait for the MHRA to get moving or do they zoom off down some side road thinking they can find a new route ahead of the queue? Just because you're moving doesn't mean you're advancing etc.

Hi Mafuta - not bothered as long as it isn't China or Russia!

Very interesting find, Mafuta.

I wonder if our new friends at the BIA have provided help & advice re getting the CTA progressed overseas.

Nice to get a mention - https://books.rsc.org/books/edited-volume/2061/chapter-abstract/6380653/The-Discovery-of-Checkpoint-Kinase-1-Inhibitors?redirectedFrom=fulltext

Hi Celtic - I think your second paragraph is right on the money. If we got, say, 3 offers, what would be the CPF's preferred options?

One offer may be a low upfront payment but with guarantees of accelerating development. Another offer may have a higher initial cash value but there's an air of they just want 737 off the market so it doesn't compete with their other plans etc.

We know CRUK/CPF just want to cure cancer and don't care much about the money side but the largest initial payment offered by a pharma would allow CRUK to fund more areas of research etc.

When you think of all the permutations of what the offer(s) may look like, it makes your head spin.

I just hope we see a 'fair value' deal.