Member Info for potnak

Im with Halifax, couldn't take part in the wrap. Bought a load at 10.9p. So no, my buy didnt help the company. Why is that even a question? Are there two tiers of shareholders? Not that it matters, it's just so tedious. I push the like button on any post I like whether it's overly positive or negative. Puma, got a few likes from me too.

What's wrong with ambiguity? The board is for everyone and anyone. Whether invested or not, even shorters. The facts guys will eventually get their day and will be able to say "I told you so" and we will all win. Until then, I'm happy to see all views.

It's a good post Steve, the health/personal reasons is a real possibility. I hope not, Tim deserves to see the compounds treat patients as well as ha e very comfortable retirement. Also, lol at the posters sticking the agenda lable on you bringing out the FACTS putdown.

Imagine being that worried about your investment that you have to jump on any poster that has a different view! I wouldnt want to be invested in a company that needed my help to succeed.

You say negative, I say realistic. If going alone, we need cash for the trail and enough to take us at least 6 months past 2a unblinded data. You tell me when you thing that is. I say sometimes in 2026.

On your TO point. Maybe, Tim wants to go it alone and his licences but the rest if the board think it is time to pass the company on? I could see why a JV would need a CEO from the pharma stumping up the cash but not a TO or on licence. I keto getting drawm back to Sierra and 737, with momelotinib, they proved they can take a compound to market, the 737 mystery pharma could well be the Sierra team and they would be well placed up progress 1801 and 2. And having been aquired by GSK, they are technically an American, privately listed pharma.

Uncertainty around the funding, Celtics. Why would you buy now? Most buyers will be waiting to see what happens. If there was a raise, they might do it on the back of unblinded results to try for a bigger price but we'd be looking at a 20 to 30% discount, depending on what the Broker, (presumably Hybridan) can forward sell to its clients. They would almost certainly be another WRAP offer and to raise enough for 2a trial and keep the lights on, we could be looking at another 30 million shares in the pot. I would suggest, that most that are thinking of buying in here will have the above scenario in their heads. Frankly, it's better and less risky to wait this out.

If we get new of a licence or JV, the SP is only going one way. If we get news of a placing, the sp will settle to the placing price and we start the waiting process again.

I have stopped trying to call which way this will go but personally, Tim stepping aside didnt need to be done for a TO. It's only needed for a licence or JV. My guess is Tim has a different view if future strategy than the rest if the board and effectively, he's been out voted. The part time role is probably to protect his share options.

Again, you say you know the difference between fact and opinion. When a 1 minute scroll through your posts shows way more opinion than fact. Are they fact when you type it and then become opinion when it doesn't happen. Bearing in mind we haven't got unblinded 1a data, an application in for p2a or funding for p2a. Factually, when do you think there will a readout of full 2a data? In my opinion, it will be q4 25. And again my opinion, it will be q4 25, whether, we fund it, we licence it or there is a full takeover. Of course, it won't matter to us with the latter two options. Just for clarity, I am fine with these timescales, comfortable even. My own target, if we get that far, is I sell up some time in 2026.

sog, the science and the sentiment aren't linked. the threat of running out of cash supreses the sp, not just on sar but all of aim. in all of sareum's history, there has only been one prolonged bull period. and the was when the hnwi came on board. the current and new investors knew that sar had a cash runway to get them to p1 possibly even through p1 but they ran out of time to make anything happen and rf happened. we all know what a **** show that was.

take away the threat of raises and the sp will rise. i don't trust parker but he has enough of the wheeler dealer in him to pull something together. whether that be a jv or onlicence. we will have to give something away but if it doesn't dillute our shares and gives the share price a solid base to grow from, i'm ok with that.

HBD - An answer staight out of Celtics play book. I didn't say you were wrong, didn't go on the attack. So many fragile egos on this board.

With our collective experience of SAR. It amazes me how some here always think, this time will be better/quicker.

Ah, OK. Semantics. Enjoy your weekend.

Morning, HBD. Where does it say that translational studies have been completed? I'm not saying you are wrong even if they have there are a lot of hoops to jump through. For 1802. We can skip some because of validation from 1801 but there is a lot to do.

Not Parker, Tim. Can't even make a coffee as I have no kitchen for a week.

Don't disagree with that SOG. 2a does seem the obvious move for fast progression but the timescales will still be the same. Its likely that first dose to unblinded data will be around 12 months. Approval to first dose was around 4 months for 1801 which means, to meet the trial start in 2024, submitting the application in Sept. All doable but if the shareholders are going to fund this. The cash runway needs to go into H2 2026 to be safe. When posters say we should funds this ourselves, I don't think they really know what that means. Apart the the discounted dillution. It means stagnated share price from now until the end of P2a. I think Parker "stepped aside" because he believes in getting fair value for the shareholders but you can't run the company on thin air. IMO, it's time to partner up, get funding and start the science again.

Meaningful data, HBD. First dose of 1801 was sept 23 (approval was may 23). We have yet to get unblinded data 10 months on. Say we dose the first patient in Dec 24, why do you think p2a will be quicker to data readout than 1a? Following the same timescales, To first dose in in Dec, they'd need to submit trial application and prove they have funds round about now. Not being negative but we will be lucky if we dose p2a in 24.

Celtic, havent sold any since 2022. And there are 40 million shares bought at 10p. A lot of those would probably vote fir a takeover anything over a pound, certainty over £2. The smaller holders here are at the mercy of the big holders. I say good luck to them but, the wrap and raise changes the dynamic of potential voting rights.

Krusty, unless there is a buyout, there is probably another 2 to 3 years to wait before the big valuations come . And that's whether we fund 2a or someone else does. If Sareum do fund 2a, we'll be very lucky if we get any meaniful data back before the end of 2025. So how do they run the company in the meantime? And yes, I do believe 1802 is the big one in terms of valuations. However, Sareum haven't even started the translational studies or even chosen an indication. They can't do any of the above with cash in the bank. They need a licence partner with deep pockets. This would transform the company overnight. I will add that I'm OK with these timelines as long as the shareholders are derisked in terms of dillution then it's a simple binary outcome. The compounds work or they don't. I can live with that..

Yep, and Tim is no longer in that position. The company is £40 million, it's needs a path to revenue.

Everybody wants and endgame but imagine if Sareum could licence 1801 an 02 then go off to find another compound to develop? And that ends up in p1 trials. It all starts with the first license.

To use the diamond polishing analogy. We are not and have never been in the diamond polishing business. We have always been discovery. Sareum are the equivalent of a fledgling oiler/miner. We find the compound, prove the safety and sell it on. If successful and we run out of compounds to develop, we aquire more.

Nope. 2 billion valuation if the compounds make it to the end of phase 2. Chances of getting there: Low. 2026/7 timescales. I haven't devatited from that.