Member Info for Londonwolfie

So Pokerchips, you are basically saying that valuation has no bearing on the shares. What tosh.

People may ignore valuation temporarily in times of stress but it always comes back to this. Yes - things are challenging right now and likely to get more challenged. We know that. Low interest rates means that net interest income will remain under pressure for the foreseeable.

However, we have a bank that could be overly provisioned, or at worst, is a long way to being fully provisioned, is extremely well capitalised - which is good l/t for dividend prospects once the powers that be allow them to pay one - and is trading at half of its asset value. The share price may well not perform for a while, but this is the time to accumulate for the longer term in my view and not try to eke out a final few pennies of any potential market drop.

Apologies for my pedantry Stoney. The document is the 10-Q, which usually (but not always) is filed at the same time as the quarterly results and press release. It has been known, but shouldn’t, to contain price sensitive information; that should be contained within the press release statement, which is the equivalent of an RNS here. The 10-Q generally provides a greater breakdown of the line items in the financial statements. Sierra is expected, but not confirmed, to release interim results on August 6.

Breagh - you say "not long ago, this share went up over 25%" etc.

Do you know what day this was? Because the last time Sareum issued an rns saying that they were unaware was, by my reckoning, 10th March 2016. I must be missing one so if you'd be so kind as to point me in the right direction, that would be great thanks

Looks like 585p

580p is what the placing broker is telling institutions as a guide price Scaff

They last sold less than two months ago at 48% lower than the price is now. I think that should answer your question as to whether it is worrying or not.

And it's only 3 days since we got a trading update from the company.

You have to take a look back at IP Group and their relationship with Ceres. They have made a boat load here - holding >10m shares since Q4 2012 at an average in price of 25p, adding in Q2 2013, more in Q3 2014 and more in 2016. This is the third tranche this year to get out of the stock. Fair play to them.

No Scaff - last time (21st May) they sold 12.3m at 425p when the previous closing price (20th May) was 473p, so a 10.15% discount. They closed the day at 435p. The stock is up 48.2% since in less than two months since. They are trying to place with institutions so they have to make it more attractive

So IP Group had a lock-up when they sold their last tranche in May in an accelerated book build. They promised they wouldn't sell any more until August at the earliest. They lied.

9.156m shares coming back onto market - c. £55m. Expected to price at around 580p

Just a question from your comment below, that you posted yesterday.....

RE: Just remember........Wed 16:48
I remember kicking myself about eBay using that philosophy dsc1978.

You do know that eBay wasn't founded until 1995 don't you?

UBS out with a note today in which they say hydrogen isn't as much of a bubble as it was in 2000, but it's still a bubble. Infrastructure costs far too prohibitive is the main basis for their argument but it is from their large cap chemicals teams so there is an element of talking there own book here. But they are quite dismissive of stocks outside of their coverage list. Likely to be having some negative impact today

There is a big difference between what a drug means for a $93bn market cap company and a $160m market cap company, as per my 12.04 comment earlier on the thread.

I don’t doubt a cash raise could well be needed to progress what could very well be a game changing product for Sierra

As a shareholder in both, I would be delighted to hear your reasoned opinion on momelotinib being a basket case if you would care to share.

I’m not being flippant - just intrigued how the company presents positive data from phase III trials at investment conferences and at industry conferences, as recently as a week ago, yet you know it is a basket case.

Thanks in advance

Zacks is hardly a reputable research house to be fair

In the meantime, Sierra closes at its highest level since February 19th. Not bad for the complete basket case most people here think it is

If you could tell me what day and time around Christmas to buy these home builders that have already lost half their value then that would be great thanks. I've got the dentist on the 14th of December at 2.00 so that could make it tricky - but could always rearrange if I give enough notice

Momelotinib - having hit obstacles - was never going to be the kind of drug that a $92bn market cap business needs to move the dial. They had run two phase III trials, SIMPLIFY 1 and SIMPLIFY 2. In SIMPLIFY 1, it failed on a secondary assessment total symptom score, which showed inferiority vs. Incyte's product. And in SIMPLIFY 2, it didn't achieve its primary endpoint of superiority.

GILD said that it would shelve development if the FDA requested further trials. As if by magic, SRRA (where half of the management team had come from Cytopia, where mome was discovered) came to the table and were prepared to do the additional trials, i.e. MOMENTUM.

That was the theory at least until last November's amendment to the asset purchase agreement.

Sierra had run out of cash and was due to pay a milestone to GILD that it didn't have. Rather than having to come to the market, they basically issued stock and warrants to GILD instead.

That is the history behind GILD's investment in SRRA. Clearly plenty of missing pieces we will never be party to and plenty of gaps for speculation. But those are the facts as reported at the time.

First meaningful step to the IPO of Jackson

The tweet is clearly a coded message; we are about to appoint four new NEDs; Phil, Jack, Lily and Eli.

So, working, you say:

"You can spot many of their posts a mile off, still singing SAR’s praises hoping to inflate the SP".

Might I suggest you look back at your posting history? Your very first post states "I truly believe this awful silence is due to NDAs in place". You then talk about what they need to be tweeting on a daily basis etc. etc.

There's nothing wrong with being emotional about holdings but bulletin boards are, for the most part, simply a measure of underlying sentiment. You were bullish on the way up recently, and now you are bearish because the share price is going down. You are blaming other posters for being misleading when you were also being overly positive, which is your entitlement, but without wanting to sound patronising (which is not my intent) you are just reflecting overall sentiment.

As far as I see it, aside from a small dilution done at extremely attractive prices compared to where we were in March, which provides us with substantial working capital, and the missing of a deadline which reflects over ambition from Tim (there are obviously very few cases where there is a guarantee of substantial shareholder value over any period), I don't see what has changed. Arguably, news from Sierra and the potential for a milestone have improved given their management changes. But we don't know for sure. We are 2 1/2 months further down the line with regards to FLT3+ Aurora kinases.

None of us know how much, or how little, is going on in the background. But, remember what this is a £17m market cap company with no revenues - not AstraZeneca

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Listing date was yesterday - 10th June