Sierra - HCW Annual Global Investment Conference10 Sep 2020 14:18
So Stephen Dilly is presenting a 'company update and the latest on the Momentum clinical trial' some time between 14-16th September. Dilly's golden hello was in the order of $7m, He is not going to want to pitch up on his first public outing, dust off Nick Glover's notes and give the same old same old Momly spiel. This is his first opportunity to make an impression and leave the audience with a buzz of excitement. Given the steady flow of tweets touting for trial participants combined with the impact of Covid on trials its probably unlikley that there will any any earth shattering news on this front. He will probably highlight all the new executive team positions that have been created and how these will enhance Sierra's future prospects if Momly hits the spot, but again, this won't raise the roof with excitement. The only remaining nugget in his purse will be SRA737 which surely has the potential to really liven things up....'NG really screwed this up but look what I have managed to do in the few months that I have been at the helm'. All this is against a background where on the face of it Sierra has singularly failed to use all 'Commercially Reasonable Efforts' to progress 737 i.e. 'with respect to ProNAi’s efforts, the efforts and resources commonly used by a drug development company of similar size, remit and resources as ProNAi, for a product at a similar stage in its life cycle, with the objective of developing such product in a diligent and timely manner..' and has not complied with the contractual obligation to '... use Commercially Reasonable Efforts to carry out the Clinical Development Plan, as amended from time to time, and use Commercially Reasonable Efforts to develop and commercialise in each of the Major Markets at least one (1) Licensed Product with an application in an Oncology Indication,...' All IMHO, DYOR GLALTHs Etc
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