Member Info for Krone

So we are totally reliant on CPF/Sixth Element to secure the milestones and our short term future. Given the current sp any further placing would likely be a disaster. One would have thought that with a current mc of only 10m i.e. loose change, one of the big guys would just buy us out.

Can anyone explain how it is that whilst Sierra has a reported $80m on the balance sheet that they can get away with reneging on the contractual obligation to pay the CRT/Sar milestones? Sareum’s back is up against the wall yet we seem to be taking an incredibly passive stance. Surely Parker with all his experience, clout and professional credibility should have got this sorted long ago!!

Correction - CHK1 - PD-L1

Context - http://www.sareum.com/news/press-releases-and-news/2019/preclinical-data-sra737-presented-aacr-2019/

Cowen PD-(L1) market model update: estimates rise with global uptake and new entrants. 2024 PD-1/PD-L1 market forecast increased by $2.3B to $44.7B based on accelerating global uptake across tumor types.

Potnak - I hope you are right and I hope that any RNS includes substantive news that lifts the sp significantly.

CORRECTION - the paper 'Combination treatment of the oral CHK1 inhibitor, SRA737 and low dose gemcitabine, enhances the effect of PD-L1 blockade by modulating the immune microenvironment in small cell lung cancer. T Sen et. al, J Thoracic Oncology 27 Aug 2019 Abstract' is detailed on the Sar website.

Aber - yes, absolutely and no criticism intended. With the ongoing paucity of information issued, or rather not issued by Sar it is inevitable that people join the dots as best they can. It is hard to understand the rationale for not highlighting good news when it emerges e.g. the various papers highlighted by Thoth2, Fadec92 and others. Why for instance has the paper recently flagged by Fadec in respect of the August 2019 paper by Sen et al noting the potential application of 737 to SCLC not been mentioned by Sar or uploaded to the publications page of the Sar website. Why have the other relevant papers not been uploaded? Is it a conscious policy on the part of Tim not to highlighted potential success, is it a resource issue or is it incompetence?
Does the bod consider that the current sp reflects the value of the assets? Assuming they don't then they need to do something pronto to avert a revolt.

RMM - ok so actually pure speculation!

Where has the expectation of an RNS originated?

Thoth2 - as a first step the requirement to remove Parker and cancel his options based on his apparent non-performance should send a very clear message to TM and JR. If TM can provide robust evidence that Parker has added significant value then further consideration may be required.

Being pedantic Tim does say ‘over’ the next 12 months which may suggest a series of value increases as opposed to a single event?

Tim has actually indicated 'significant value' three times since March 2019
26/6/2019 - We believe we have the potential to generate significant value with these candidates, which represent exciting prospects in an area of increasing interest in the pharmaceutical industry.
13/6/2019 - We believe there is a clear opportunity to generate significant value for our shareholders over the next 12 months, given recent progress with both our clinical and preclinical programmes.
4/3/2019 - advancing these two programmes as quickly and as rigorously as possible is the focus of all our current resources and we are convinced that they offer the potential to generate significant value for shareholders.”

Stoney - many thanks, really interesting and informative.
In the context of Sierra and 737 one would expect Nick Glover to be well versed in the licencing process and to have been getting his ducks lined up for some time....given the November Nasdaq deadline if the non-dilutive options have not been set up by then Sierra will be in deep misery.
In respect of Sareum, if the CHK1 deal negotiations were handled by CPF/CRT with Sareum on the periphery their experience will be limited which may not bode well for TYK2. I have real anxiety that we are going to at worst fail or at best not fully realise the value of 1801/2 due to lack of experience/expertise. Tim and John are clearly very capable scientists and have invested many years in getting Sareum to where it is today however they probably don't have the business acumen necessary to bring the baby home. Parker is along for the ride and is more focussed on MGC Pharmaceuticals, Glyndebourne, Brexit and Surrey carpet bowls association, Michael Owen is 67 and probably winding down, Clive Birch is 65....

Thoth2 - how long from expression of interest to conclusion of sub-licence deal? Presumably the lawyers involved are doing these deals all the time. For Sierra there must be a real urgency given gone potentially imminent Nasdaq delisting.

Says it all about Parker!!!

Increasingly likely that Sierra will be bought out in the short term?

Plugging commencement of Momentum trial on Twitter....The MOMENTUM Myelofibrosis Phase 3 Clinical Trial for patients with previously treated myelofibrosis is planned for launch in Q4 2019 - learn more ow.ly/pq1K30pwwyu

Thoth/Stoney - thanks. Presumably they will want to avoid taking it to the wire.

Is there a specific date by which Sierra have to get their sp >$1 or face delisting from Nasdaq?