Member Info for potnak

Yep, agreed. Posters here want an exit of say £500 million but to get that valuation, the company has to act like a £500 company. That means being able to walk away from a bad offer. The value right now. Is probably accurate. A phase 2 ready compound in an market that is forecast to be worth 74 billion in 2031 could be worth 10 x today's market cap.

Wasn't finished! If we had already passed the point where the trial was halted last time. Then this week could be the final week.

Yes, although only half the story. After being halted last Oct, the completion of the dosing is both a relief and a milestone reached. This in its self should more positive sentiment and confidence. We are probably no more than 3 weeks away from this. I think JR said, the dosing had already started when the RNS was released. The RNS landed on the 17th of Feb. I think. It ot started on the 16th. Monday. We are almost at the end of week 14.

What possible agenda, Aber? Is the ice so thin that we shouldn't even whisper it. What does that say about the company, the science? Big pharma isn't going to do us any favours in the negotiations. Even if we have heads of terms, Parker will still need the option to walk away or we will get what we are given. I want 737 to bringin funds. But if not, I want Parker to have a plan B.

I think having a cash runway in H2 27 will actually take the brakes off the share price. It will all be about the science at that point.

My view is making people anxious. So I will stop saying it. It doesn't mean it won't happen though. Being cautious about raising when sentiment is good is how we ended up with Riverfort. Parker won't make that mistake again and whatever posters here think. They have put the idea out there so we shouldn't be surprised.

If I thought that Sareums share price was that fragile that post on on the internet could make it go up or down. I would sell my holding immediately. We all want the same thing. I just happen to think, there will be 1 more raise to help us get there. Let's not talk about it. Simple.

The Edison Report is commissioned and paid for by Sareum. They will need funds in H2 26, IMO, only 737 or a raise can bring in those funds.

Not pushing at all. They have clearly stated additional funds will be needed in H2 26, AHEAD of any partnering decisions. Whilst not explicitly saying from a dilution where else could those funds come from? IMO, anyone interested in 1801 and 02 will edit until the data package is released before final negotiations. So that leaves 737. Yes. Something could be imminent but a third party could use the lack of funds against the board, just run down the clock until Sareum are desperate. Or it could sit on the shelf for a few more years.

I will shut up about funding now but IMO. We have been given prior warning so if an RNS does land in the next 6 weeks or, everyone here should be ok with it.

Seawolf. We are fast approaching a binary inflection point. As we found out last Oct. The dosing period could go awry. However If the dosing completes without and major adverse effects. It's a milestone passed. This could be the perfect buy in point for a HNWI, with options to de risk before the data package is released in late Q4.

If not a HNWI, we'll probably see a raise when there is some good news released.

In case in doubt. This isn't advice or an agenda. From a business point of view, it makes complete sense to raise when the sentiment is good. Not waiting for the autumn lull we almost certainly will get while we wait for the data package.

Yes, VAL is in a slow death spiral. I've never understood why anyone would invest in them though. They've been like this for years. Same with PYC, the shareholders just kicked out the board there but the underperforming business is still an underperforming business.

As the Edison Report title suggests. 2026 is a really important year for value creation. If the Tox study data package supports doing a phase 2 trial. At this point, the Sareum board will have done as much as they can and will need to pass on the baton.

I'm not saying this means a buyout as they could pass on the baton with an on licence too. There is still the CNS discovery but IMO, that will need to get to IND status before there is any value.

What I'm saying, is, if the Tox study and peer reviews of the P1 data is good. There really shouldn't be any reason they can't land a deal for 1801 and 1802. The question is, for how much?

The all time highs equate to around the £1.76 per share price. It would be crazy to think we can't get back to that with the possibility of 3 deals within the next 12 months. Personally, I'm hoping for around double that at this stage.

Yep, my sentiments too, Ben. For, this is the first time they've laid it out do clearly. The bulk of the Tox study cost has probably already been paid. Now. Do they let the cash pile shrink whilst completing the analysis and data package or do they raise on the next step up? I know what I think. Others believe the reports say something else. I believe they have given us prior notice of a fund raise. Which for me is the responsible thing to do.

It's good to have a different view, Blockbuster. It's good to have different trading strategies too. But I'm not sure Sareum have ever been explicit in any communication.

Personally, I think a raise derisks the shareholders. I for one would welcome the news.

Let's leave it at that.

Hi Blockbuster. Was that question for me?

Below is the paragraph from the Edison Report. Funding needed ahead of partnering decisions.

"Funded to completion of SDC-1801 tox studies

At current burn rates, we expect Sareum to be funded into H2 CY26 with sufficient liquidity to complete the toxicology study. Additional capital will be required in H2 ahead of partnering decisions for SDC-1801, with potential licensing revenues from SDC-1802 and SRA737 providing non-dilutive support."

The report is here

Sareum Holdings — An important year for value creation - Edison Group https://share.google/YeI26Ze7LYMwXbcJX

It's a game of poker. The board said funds needed prior to a decision on any deal. This suggests that some terms are on the table but need further scrutiny or negotiations. You cant do that with an ever shrinking cash runway. Maybe the mere suggestion of outside funding might be enough to make the other side blink. As I've said. I'm only expecting a raise because the board have told us they will do that prior to a deal.

My thoughts on the funding needed. It's a bridging loan to cover running costs, legal etc. until at least 1 compound has a signed deal. They would need at least 12 months, possibly more. Think it was Parker who says that if terms couldn't be agreed they may look to fund 1801 phase 2 themselves. Not sure the market or shareholders here could stomach that. 1802 is already indicated to go to licence and as PC states 737, stands on it own anyway.

I'm ready to give the board the benefit of doubt here. They've had more than 6 months to work this problem. Fingers crossed they have.

Completing dosing is a milestone. Purely because it didn't complete last year.

Seawolf. I think they do have plan. They've told us funding will be needed and I suspect, they already have a HNWI or similar in place, just waiting on completion of the dosing. Parker could play a blinder here if he brought in funding before we are alerted to the dosing completion and or P1 data publishing. If funding was secured. These two milestones could trigger an upwards push. I could be completely off though.

Yeah. For me. It's the funding. IMO. If we had a cash runway into Q4 27. I think the brakes would come off the share price. They need cash and the time to go 3 deals or 1 big one.

Might get a Chairman's Corner this week. Even if SP doesn't directly say anything. Just the fact they punish the CC would mean, all on track.

Noticed the website certificate expired this weekend just as I said it would last week. This stuff isn't hard to do. Time to find new web\marketing team.

Was out on a run earlier. Thought of another scenario. If Parker could convince a couple of HNWI to stump up a total of say 1 million before the Tox study completes. The investors would probably double their money within a couple months. The more I think about it, the more it makes sense. I'm on leave for the spring bank holiday week. We usually get a RNS when I'm on leave. Ha ha. Food for thought.