Member Info for potnak

For clarity, I want a deal, I bet on a deal coming this year. I just don't believe the company is acting like a deal is coming this year. Too many references to end of year and 2026 for me.

Yes, nothing wrong with the message but the interview wasn't needed. Especially before we hade updates on other compounds. It was a cack handed attempt to do something positive that might generate some interest. But in reality. Everyone just thought. What about 1802, 737 and why are we spending from a dwindling cash pile on something new? The final results will have an update on downs as of June. We don't know how much receptor so we're paid but we do know how much the recent warrants brought in fib we should be able to make a guess for how long the cash will last. I personally don't think they can risk going into 2026 without a least a years worth of running costs.

Take away the risk of further dillution and this share will start to rise. It's as simple as that.

I disagree on the update. The later it is, the more chance they will be able to report on good tox study. They can't update on tox study until a RNS has been released. Later the better IMO. There are a few little bits of info why I think it could be 2026 before we get notice of a deal. The email reply to HBD, Parker stating they have always been clear with the end of year for tox data. Receptor AI are due to finish by the end of the year. They are attending bio Europe, a litteral conference for partnering. None of the above screams a deal is imminent IMO. If a deal is imminent, why would they deliberately cool the market? I'm probably wrong but experience has shown me that this is Sareum's MO. They have always been two steps behind where the shareholders think they are. I have no reason and they haven't given a reason to think this time will be different.

Thing is Salford, big caveats but I still think the company could be worth around 2 billion at the end of 1801 phase 2. I dont, however think we will now get there in full control. A good tox study doesn't nessesarily add value but it does reduce the risk for those who take it on. A 2 billion valuation before Riverfort would have made most of us here millionaires. Now, you'd need around 90k shares. Dillution is the scurge of AIM.

I am OK with it. I don't and never have believed we will get a buyout. Im going with an onlicence for 1801. I have suspicions that the timescales for this are probably in 2026 now. Which if so, the cash in the back will be getting low and will be a worry for the board as they won't want to go down the lender of desperation route again. The final results RNS should give us some clues as what might happen towards to end of this quarter. If it isn't clear cut, I can see a raise off the back of some good news e.g. Tox study data. The sp should be double today's price but it firmly pinned where it is or lower because the market hates uncertainty.

I haven't sold any here for over two years. I have increased my holding from 50k shares to almost 400k since the RF funding nearly ended us

Nothing wrong with the underlying message. Timing and delivery is off.

100% agree, PC. The interview was manufactured, awkward and didn't land well because it didn't answer any questions. I suspect, if would have landed much better if given after the final results. That is, unless the final results doesn't have any answers for us. A scenario that I am increasingly leaning towards.

We obviously don't know what is going on behind the scenes but we do have lots of experience to draw upon when it comes to SAR. For over 10 years, we have speculated what might be happening in between news and most of the time, the answer has been BAU. Like I said, for me. There is nothing wrong with the interview, it is great that we might have more compounds in SKIL but what about 1802? have we stopped the work on that to pursue something else? Something that, without funds, we won't be able to pursue much past this initial study. Then what? Where does that leave 1802?

People here asked why sareum can't do a HEMO and the answer is we can't or aren't willing to do the incremental step ups. HEMO turned little wins into a buzz and the market responded. Sareum seem to be holding back on publishing p1a data, choosing 1802 indications. They chose to not do a 1b trial, where a success would have given a much needed boost to the sp. It feels like an all or nothing strategy rather than generating value for those that have paid for the work so far. If the tox study is good and they still need to raise from the shareholders, the board will have failed the shareholders. IMO, the end of 2025 is crunch time. In more way than 1.

I agree with everyone. It's just the timing for me. Personally, I font think they can go into 2026 without funding. Even with latest warrants it would be dangerous to let the remaining cash in the bank go too low. Last thing we need is another lender of desperation scenario. I for 1 will be unhappy with another dillution. Nothing wrong about being organised for the AGM, if that should happen.

Elcap. As of 8:55 there were 123 views. 4 of those are mine! Unique views is probably a third of that figure. All generated from Num4's link. Big pharma don't go business by code. If Sareum are that desperate to be noticed they created a fake video. They are in trouble.

The interview is a soft attempt to create a buzz around the company but without and details of how the CNS work will be funded, it will pin the SP where it is until we have further answers.

IMO, it's not a big deal. Business as usual, possibly with some timescales missed. We should be used to it by now. All eyes are on the final results, then see what happens with bio Europe. If they go to bio Europe to present CNS, then is probably safe to say that an 1801 licence deal isn't quite there yet.

Just on the interview. I think there were good intentions there but IMO. They missed the mark. The shareholders want answers to other questions before being given new stuff think about. Like I said yesterday, I'm ok with the plan as I always thought a licence 1801 will be the most likely solution outcome. Pivoting makes me think we aren't quite there yet.

The Yorkshire 3 peaks race is something I haven't done but is on the list. Some gorgeous countryside around those parts.

When talking about CNS illnesses. Parker said something that I felt was out of place. Paraphrasing but he talk about illness in old age but also said 'ending careers'. That bit felt personal for me. I'm not going to speculate and don't think we should but if made me think.

It's funny how Sareum seem to have a knack of making good news sound not so good. I do think, that is partly to the fault of shareholders reading too much into the RNS's. Some examples are 1801 1a, 1b strategy. We had timescales, cash to do it and I think all the shareholders were on board. Then a pivot to a Tox study which means by Christmas, it will be 1.5 years since 1a completed. We then seemed to be able to see some light and the CNS indication is dropped on us which extends what we thought might be the end of the tunnel. Even using AI. A drug for CNS is likely 5 to 10 years from market. So why is it suddenly the focus? Personally, I just want them to get something over the line, anything. 737 or 1801. That should be the main focus here.

Yes, either you there Aber. Feels like a gentle nudge towards a jam tomorrow scenario. I'm sort of ok with that as I still believe we will get a licence but it might not go down too well with a big chunk of the shareholders.

Yes, fell shoes. Grip but no support. I actually like zero drop. You fell every rock but they make your feet and ankles stronger.

Under aim rule 19. Final results can be delayed in certain circumstances. Two interesting reasons below.

Significant Corporate Events:

​Reverse Takeovers or Transformational Acquisitions: A significant transaction, especially one that constitutes a reverse takeover, requires a substantial amount of financial information to be prepared and audited, which can delay the final results.

​Disposals of Major Assets: The sale of a significant part of the business can create accounting complexities that take time to resolve.

​3. Internal Company Issues:

​Internal Restructuring: Significant changes within the company's finance team or systems can disrupt the year-end reporting process.

​Unexpected Events: A major unforeseen event, such as a fire at a key facility or a significant legal dispute arising late in the reporting period, can divert management's attention and resources.

My friend, broke up with his girlfriend on Crib Goch, literally. He likes mountains, turns out she only thought she did. They got down, drove home in silence and never saw each other again. Ha ha

I've only even been up in trainers. Cant remember the last time I wore boots TBH. I take enough kit to survive if I got a snapped ankle or something and I always check MWIS before an attempt on any mountain but exposure and risk, is the reason I like to run in the mountains.

The whole 737 journey has been so weird. The scientists have always been positive about it but still no one seems to want to inject some cash into it. My own theory is the short patent window but that's getting shorter by the day. If they can extend the patent then we should see some value. A speculative npv valuation is between 150 to 350 million dollars. The lower end of the scale is enough to put 70p on the share price. If it goes into phase 3 you can add another pound to that.