Member Info for potnak

The company is under valued probably by a x5 margin but there are some caveats to that will need addressing. New buyers will need some closure to why the Tox study failed. "We don't know" isn't good enough and I know they are still investigating but we need answers. Not blame, just it defo wasn't 1801. The next thing is funding. Cash reserves looked good but don't forget those reserves were as of June 25 the pot although added to by some warrants which now seems suspicious btw but the pot will be draining.

Honestly, I don't think frustrated is the right word. I'm disappointed that Sareum can never seem to get anything over the line. However, I would buy more if the above two points were addressed properly.

MM's don't take half a million shares if they can't shift them. Every sell has a buyer.

Laz, yes I heard that bit but my fear is they said early 25 this time last year and it was May when they started.

Thanks snoop. I guess this goes back to the 'original scope' statement but this is what I mean. The original scope must already be a working plan at least. Does it take 10 weeks to spin up that plan? I don't by the way.

The big problem in the interim is because all of Sareums TYK2 compounds are molecularly similar, I believe. So why would any pharma do a deal untill 1801 has passed the Tox requirements? It's all Sareums risk until that point. Also, they never had the cash to do phase 2. Minimum 10 million, IMO. Some run into 100's of millions.

I still believe that if Tox is good then £500 million is the base sell price. I just don't know how the board can get us there.

I'll go first.

Director Buys. Not a fan personally and I can't see it happening.

Find a buyer for 737. Not licence, sell it. Cover all costs for say 3 years

Some other non dilutive funding, maybe for the rights to skil. JR must have other interesting compounds in there?

Morning all, was thinking on my dog walk this morning and didn't catch why in yesterdays call. Why will the new Tox study take so long to spin up?

I think everyone is feeling massively deflated and I count the board in that statement too. I personally feel like the dream of multiple pound deals is over. I still think there is money to be made here but the board just haven't got what it takes in funds, drive and luck to get us there. So, what to do? How does the board turn this around? How do they create a buzz to keep us going to what looks like this time next year?

Yes, you know what I mean though. I think we will lose some LTH which is a shame if they waited for 10 + years. My SAR stock in my sipp break even at 17p. I'm chilled until Tox study nearing completion. My ISA stock break even at 34p and it might be a while before they do.

Don't really need to know the name, PC. Just an observation that sone here have timescales. I'm 56 in Dec, no real plans to retire but if I was older, then SAR might be too risky to hold in a pension, especially if already drawing down.

It wasn't billy.

I think we have one big holder here, can't remember which one. But he said he would be out whatever happens by April 26, I think. I wonder how many others here are at can age where the cash tied up in SAR would be safer in something else. Or even spent!

If you can accept we lost a full year. Then all good. Personally, without something from 737, I think they will need to raise at some point. Contrary to what others have said. I don't think that was a confident presentation. Understandable, but I thought they sounded shell shocked. TM was more upbeat than JR SP, but it sounded like they couldn't wait to get off the call.

No one will take on 1802 until Tox study data is back and positive. Why would they? It's sareums risk upto that point.

All good in terms of, we are still going but it like Q3 26 for new Tox study data. No way can we licence 1802 or the Neuro indications without that. Best we can hope for is maybe some buzz around published data and maybe a 737 licence. I know what they said re cash but honestly can't see how they can risk going into 26 without a fundraise. I guess we just go back to sleep until next summer. Tis always the way, sigh.

SOG, firstly, I wasn't panicked but did recognise the situation we were potentially facing. Secondly, you were pretty much silent this last week but now back asking for answers from posters? Damion made some really good points that the vehicle and excipients could potentially cause issues or even be toxic. Without knowing what happened we have no idea if it will happen again but are happy to criticise Damion, just like the board criticised puma. I figure we have at least 6 months to wait for this new study to complete possibly longer. What I learned from Damion is a Tox study can fail.

I learned a lot from Damion this last week or so. A valuable lesson for pharma trials. I've been invested in a trial failure before and don't intend to be over exposed ever again. It was a 95% loss, overnight. So you can criticise if you like but just like puma and RF. There is a lot of truth in the posts.

Agreed, PC but it amazes me how posters here can flip in an instant. It may be through no fault of the board. But we just lost a full year. Salaries, running costs, trial costs. The below was from the finals last year. Yes there will be less hoops to jump through this time but there is no way we are getting a deal on anything until we get a successful Tox study. And it isn't nailed on.

From this time last year.

These funds will enable us to conduct further development of SDC-1801, including longer-term toxicology studies, to prepare the asset for Phase 2 clinical trials

I don't think Damion had an agenda he just went straight for the worst case scenario. As a learning opportunity, it's been a very valuable couple of weeks and without sounding patronising. Think how you felt yesterday, if you felt over exposed here, you probably are. I was pretty chilled when we didn't get a bad news RNS yesterday. There is no way that the NOMAD would have let them release it today. So they must be happy with the explanation we've been given.

Sareum aren't out of the woods just yet. There is now a big question mark around the vehicle and it's excipients that will have to go through the whole process again. To paraphrase what Damion said yesterday. There is no point having a best in class bullet if we can't design a gun to fire it. It's the only question I want an answer too.

Yes, it's a get out,DP but how can they forecast the spend going forward. Also the IM meeting may as well be cancelled as they won't be able to answer any questions regarding 1801. If course we could get RNS in the morning.

If the update is in the Finals RNS. They can't say anything we don't already know! Maybe say it a bit more succinctly? Maybe parker will wink at the camera or have his fingers crossed. 🙄

Any update good or bad would need a separate RNS. The Final results RNS isn't a vehicle to deliver bad or good news. There will be a statement from Parker and an update of the pipeline but without a seperate RNS, all they can say is what we already know! It's very unusual to get news and a regulatory RNS together. I say unusual, I have never seen it on any of my stocks. I half expected an out of hours RNS. Not long to wait though