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Looks like it might be having an effect. Combined with the fact that realisation has set in that Pfizer haven't quite saved the world.... The key word missing from the Hybridan tweet is 'therapeutics'.

Bridges - quite right. Lets make life difficult for the MM's. They will do their best to keep this below 2p and then 3p. A lot of Covid stocks were hammered this week but Sar should not have been one of them. As we head towards 2p we need to remember that the potential value is in 4 drugs targeted at a range of highly lucrative indications that would easily take us north of 20p if just one of them got close to market. The silence from Sierra is not surprising, games are being played I suspect, in which case I wouldn't be surprised if the first big news comes from China.

it's 8.30 and the Chat Room is still working! If it's still working after 9 then today might be different because we can comment on what the MM's are doing. What is happening reminds me of times when Harper was Chairman and the MM's played the same games. LTH's will be only too familiar with the game and will know to sit tight. For those looking at the SP on LSE we re not 23% down. The mid price was 1.275 at close of business yesterday so in reality we are currently 9.8% down. Not good but not as bad as the technology running this board!

Just thought I'd put that in the subject box to annoy certain people! Another day of our big investor making the most of the MM's little SP games. They clearly see something worth investing in. Meanwhile Merck have pulled their Keytruda combo with BMS' Ipilimumab stating adverse side effects. In a similar vein apparently 30% of people in the UK don't want the Covid vaccine because they don't think its safe. The public aren't stupid and at some point Pfizer are going to have to release the data to show efficacy and safety. Until then the queues at the GP's might not be as long as Matt Han**** hopes whereas the hospitals will still need therapies. From our perspective it would help if something emerged from Cloud Sar (somewhere near Cambridge) just to confirm that progress continues and that the possible Pfizer vaccine has no impact on what they are doing with 1801/2 in terms of cancer and immunotherapy. I'm not expecting them to update us on 737 or FLT3 just yet because we know the timelines are ongoing. Even so, just a little confirmation might be enough to trigger a little surge in investor sentiment and poke the MM's in the eye.

According to the BMA they are going to run vaccination centres like the current testing stations. So soldiers in car parks with liquid nitrogen. I don’t think so.

Given that the knives were out in the biotech sector I don't think we fared too badly. Over 4% of Synairgen changed hands today vs 2.5% of SAR. The former ended the day down 41%. The main reason we stayed at 1.5 is that we clearly have a big stakebuilder in action and they obviously don't think Covid was the only play. There were a lot of big buys today. Hardly a vote of no confidence. Would be nice if the BoD returned the compliment with a little news.

Elcap - That's a massive logistical problem you've highlighted (and was kept well clear of Pfizers announcement). Transporting anything at -70 Celsius is a big logistical issue let alone storing it at that temperature. Apparently they are working on cold chain stability at around 2-8 Celsius but its not there yet. More questions.... and the more I think they've rushed into an announcement as a result of political pressure.

Bridges - not so much a smell as a stench. A case for the FCA to investigate is building.....

According to the Govt briefing that has just finished you need to allow 21 days between the two doses and full protection (if you are one of the 90%) is only achieved 14 days after the second dose. So 5 weeks for the vaccine to become viable. If protection then only lasts 28 days do you then have to plan for boosters? 7 hours after Pfizer made their announcement and already more questions than answers. I've been reading other boards (including Avacta, Hemo and SNG) and the emerging view is that the market has hugely over reacted. For companies like Diageo to see a 10% rise is almost farcical in terms of the time it will take for the hospitality industry to get back on its feet and as Boris has just said, the guidelines and lockdown have not been relaxed yet. Lets get back to what we really do and see the SP back where it deserves to be based on the core indications we are targeting.

We know its not core business. It's never been core business. An RNS to say its not core business sounds desperate and we're not desperate. Although I would say we are desperate to get on with 1801, 1802, 737 and FLT3 in their respective indications!

Thank God we didn't announce a TYK2 licence today. We'd be sub 1p by now!!

Interesting Tweet Fadec. Will we need multiple vaccines to cover all the mutations? A friends wife is Danish and just returned from Denmark. They've been told (as a family) to go into quarantine for 2 weeks! The mink mutation is very worrying because it may have been caught from a human and then transmitted back in another form. As the Govt are saying we are far from out of the woods yet.

With regard to cancer and immunotherapy nothing has changed. We have been down rated because Pfizer might have a vaccine that works with 90% of people and the MM's have used this to devalue what we have by 26%!! What we don't know is whether the 10% who don't respond are also the same 10% that go on to develop severe symptoms. If they are then its actually still game on for the Covid 1801 POC. However, Covid was always a sideshow that might accelerate interest in TYK2. Again nothing has changed. Whilst typing this I'm also listening to the Government briefing which sounded a word of caution over the safety profile. So, not out of the woods yet if a vaccine is to be the solution. Meanwhile the battle against cancer, Lupus etc continues. GLA

Good to see that Biden is already prepping the ground for January. A Covid strategy now seems to be top of the list so I'm expecting US Pharma to ramp up their efforts even before Trump runs for the hills. Could be very good for us if that means more M&A activity.

Hi Fadec - I quite agree that we are a 'risky business' however, I'm basing my figure on being in P1 (as we will be with 1801 in 6 months time) and still assuming a 90% discount. On top of that a 1% mkt share is far from aggressive. The Investopedia model is fine if you know all the competitive permutations but it ignores the investor factor (when investors pile in on the basis of it must be worth a lot more than it is now - eg what sent the price rocketing when 10/10 mice was announced). My key point is that our current SP is so far south of a realistic valuation that you have to question what the MM's are really up to. Time to wave the flag and shout 'Over here!'.

Much has been written about the huge potential for the global treatment of Covid 19 however, we need to put this in perspective. Getting a grant to treat Covid is still a sideline for Sar. In the last 12 months 1.2m people have died from Covid yet 9.5m have died from Cancer. The total cost of treating a cancer patient in the US is $150,000. Globalised that would be a market size of 1.425tn just for those that died. As Tim said at the last AGM we need 1801/2 to work in just one indication in order to get the molecule into the cancer portfolio. A 1% market share would mean a drug worth $14.25bn pa. Compare this with the average cost in the US of treating a hospitalised patient with pneumonia of $7,177 (which is a relatable figure to Covid treatment although an underestimate due to PPE and a potentially wider range of therapeutic drugs) and the globalised market is $118bn. Still a huge market but less than 10% of the cancer market size. SAR’s combined pipeline and SKIL platform is not a one trick wonder but a rapidly de-risking proposition. Taking just cancer and Covid together would provide a pharma with a drug pipeline worth 10’s of bn’s over the lifetime of the patents. Is it so far fetched to think that in 6 months time as we go into P1 with 1801 and hopefully the same with a POC for Covid that the company could be worth less than 10% of the potential? That would be $1.54bn or £1.25bn. This equates to 38p per share. Now that’s not a buy out price that’s the net value of the business at that point in time. A buy out value would be multiples. Do your own calculations, mull over your exit strategies (yes, you’ll need more than one!) and be prepared for a roller coaster ride. Of course I could add in the other indications beyond cancer as well as all those that survive but I think we all get the idea… GLA

More likely a server failure. It's quite easy to update a website without having to take it down for more than a few minutes. Slighly worried that no one is monitoriing the fact its down. Quite easy to install a feature that notifies the owner when a site crashes.

Hi Num4 - excellent post. On top of this we have yet more (as if we needed it) evidence that the way forward is combo treatments:
https://scienmag.com/immunotherapy-may-work-better-in-stomach-cancer-when-combined-with-chemo-given-earlier/
Whilst not specifically mentioning the JAK/STAT pathway the PD-L1 element is still relevant to what we are doing with 1802. As with the cytokine storm the key thing is to be able to regulate the immune response.

And the mink version of Covid is not vaccine treatable....

Good to see the MM's continuing to delay the big trades and trying to pass them off as sells. Just shows they're not as bright as they think they are. To manufacture another drop like they did last week they're going to need to be a lot smarter. They're rapidly finding out that the child they thought they could manipulate is turning into a Frankensteins monster. At some point they are going to have to let market forces take over. As a number of people have said, our time is coming.