Member Info for potnak

I'm going to buy and hold at these levels. I may trade in the future but not until 50p it above. I could be completely off but I can't see where any 'bad' news would come from until the Tox study is underway. And to add to that, I still have a feeling that 737 will be sold, rather than licenced so in theory, after the company keeps enough cash to run the company for say a couple of years, the rest of the windfall could be used by the company to pay a special dividend to shareholders. Look at Tribal Group for a recent example of this.

Keep going! The shares in my sipp go blue at 17p!

Nice buy, Bailiff!

Tottally agreed on the Comms. At the very least, I would like a trial started, patient dosed. I sort of get why they don't do this but it is my belief that there was delays in starting the trial. Much later than we were told. Not misleading but not great either.

All I'm doing doing is following news. We know the tox study will be restarted, this says there is confidence that 1801 wasn't the cause if the failure. Going on JR's comments re 737, he seems confident there is something there. My guess is that they will need some sort of patent extention or maybe that will be part of the deal but we won't get bad news on 737, worse case scenario, it sits on the shelf next to Aurora/flt3. So if there is bad news waiting for us in the future. We should start getting nervous around the 4 week point but as, we won't know when that is. No news will be, in fact, good news. My 36k shares bought this week for around 13p could easily double in value with good sentiment. For now, and the near future, it's a buy from me.

I've taken a different view and bought another £5k worth this week. Yes, we have a tense wait but JR seemed to be really animated when talking about 737 they also reiterated that they can do the study with existing funds. I'm betting that a 737 deal will drop with enough cash to see us through to a deal or two on 1801 and 02. Not expecting anything this year but early 26 might see the sp rising.

What factual information are you missing, Mayhem? It's all there for you. Just wondering what SOG could say to make you feel better about your investment. It's going to be a tense wait until June 26 and that's only our interpretation of what we have been told. I'm still of the opinion that the minimum value is £500 million but that is only realised if we can get through the tox study AND license/sell 737. It's a waiting game. As it always has been.

Yes, I heard that 4 week statement. Even if they hadn't terminated. They would have missed the end of the year deadline anyway. This was on a trial that was originally stated as starting early 2025. IMO, this isn't good enough. The language they use is too obscure and non committal. If there is one thing I want the board to be better at, it's this. For the tox study. I would like a 1st dose given RNS and a trial complete RNS, hopefully 16 weeks later.

Yep, BB. Should be somewhere in the middle 25p to 50p at the end of the tox study. I'm hoping that a deal on 737 will be our 'non dilluting funding'. If that happens, the value will be at the top end of your post.

5 day PK study. Starting yesterday should give them the options they need to move forward with main study. Although, I think some of the presentation was contradictory.

I thought JRs bit was good too, I would have liked to ask JR, if he believes 737 is do good, why aren't pharma coming for it? The Q&A got derailed a bit and I don't think we learned anything. No critism for those who wanted to say their bit but we lost some valuable time with the answers. Hopefully, the questions submitted to IM will be answered quickly.

Bobbler. Sareum used a consulting firm to get the Aurora deal. Link china pharma solutions. They helped broker the deal with the shanghai listed pharma. If it gets us a seat at the table, I'm for it.

I've a hunch that 737 will go to China too.

I think it's a good RNS. Best we could have hoped for. Especially since in Oct, there was a chance it could go to zero. I'm not a fan of how they set expectations though. Early 26 is now Q1 26.

Those that are upset here, with as much respect as I can muster, only have themselves to blame. The board haven't said anything to indicate a deal being done before the tox study. That's just blind hope. I with Utar here. May as well enjoy Christmas, hibernate Jan and February and have a peek back in here in March.

Hopefully, one of our dedicated AGM attendees will feed back with some snippets this afternoon.

If they reiterate that the tox study will start early 16,then we are back on track. Should be sitting at 20 to 25p IMO.

Yes, PC. We already know what the plan is. IMO, no deadlines have been missed, although some are getting near. If the board reiterate the early new message, it means, we are still on track and we can coast into Christmas with less anxiety and fear of a bad RNS.

Two questions here. Not submitted but someone else can, if they want.

Question 1: Receptor.AI Data & Market Disclosure

​"Reference is made to the RNS of 12 August 2025, which stated the Receptor.AI collaboration was expected to complete within four months. Given we are now at that deadline, can the Board confirm:

​Has the data from this collaboration been received?

​If so, has the Board formally assessed whether this data constitutes 'Inside Information' under MAR Article 7?

​If the results are material, why has the market not been updated prior to this AGM to ensure all shareholders are acting on equal information?"

​Question 2: Partnering Discussions & Insider Lists

​"The Preliminary Results of 23 October 2025 stated that 'partnering options are under review' for SRA737. To reassure shareholders that these are substantive discussions and not merely aspirational:

​Can the Board confirm that active discussions are taking place that have required the creation of an Insider List in accordance with MAR Article 18?

​Has the Company's Nomad, Strand Hanson, reviewed the status of these discussions to ensure compliance with AIM Rule 11 regarding the delay of disclosure?"

You can use AI to read say the last 5 RNS and create some probing questions the must answer in AIM rules.

We seem to go through the AGM rigmarole every year. It's an AGM, a regulatory and legal requirement. There a no new votes, just renewed powers for the board to act on our behalf. Unless we get something today. There will be no new news to discuss. It is a chance however for the shareholders to meet the board, to submit questions and to generally get a feel of where we are. If you want quality answers, you need to ask quality questions. Don't ask, for example, "where is the orderly queue?" it's a meaningless question and you will get a meaningless answer. You need to ask questions that trigger that trigger their duties under AIM rules. I think you still have time to submit question on the IM platform. My submitted question is below.

The Board has repeatedly stated data is being shared with third parties.

​Can the Board confirm if these third parties have been formally 'wall-crossed' in accordance with MAR Article 11?

​Is there a formal 'Insider List' currently active regarding these specific data-sharing interactions?

​Has the Nomad (Strand Hanson) reviewed the status of these discussions to ensure they do not yet trigger an RNS requirement?

IMO, they must answer this and the answer they give will be telling. If third paties have "wall crossed" then there should be an official "insiders list". We won't know who is on there but we will know for sure that they are indeed sharing the data.

I think, from the boards point of view. They haven't missed anything yet. They early 2026 for tox study and we aren't there yet. To be honest, it might be a waste of time questioning them because you won't get an answer. Same with the reasons for the failure. It's commercially sensitive do they won't be able say that much. I submitted a questions asking if they 'wall crossed' when talking to interested parties and sharing data. I dont think there is any reason not to answer this. If they say no, then they haven't really been talking to anyone. If yes, they have and it will have been recorded. Not much but at least will will know.

Me too. Though it could be a typo but SAMR State Administration for Market Regulation. Is an org that regulates the Chinese markets. That's why I commented.

If you had one of those conspiracy boards with the red strings for Sareum. A lot of strings would go to China. Ha ha.