Member Info for RMM3383

Its working fine for me and I can't see any changes.

Utah - If life has taught me one thing its that timing is everything!!

Utah - given some of the value 'destruction' I've seen across my watchlist in the last few days I'm quite glad that we've not announced anything as I fear it would simply be discounted!

To be honest Krone, I'm more interested in what Gilead's agenda is rather than Sierra's. I suspect that they're pulling the strings and Mr Glover is just a 'channel' for them. But I do agree with Potnak. It's the not knowing that keeps me awake at night.... GLA

Hi Krone. That's an interesting move by Sierra - the anticipated date based on previous years was tomorrow (27th). The fact they've delayed until next Tuesday makes for a nervous weekend! I don't expect to see anything from SAR before midday on the 3rd.

Luton - I entirely agree with your sentiment. The conversation I had after the AGM with both Stephen Parker and John Reader was along the lines that the value needs to be realised sooner rather than later simply because the risks of delaying for a bigger deal are too great. As you rightly point out the odds on success diminish significantly as the trials reach points where the rigours and hurdles become almost insurmountable and require huge amounts to conclude. Leave that to those with very, very deep pockets. As SAR state on their website, they are a 'small molecule drug discovery' company. Find it, licence it, move on. GLA

A significant drop in Sierra's SP today and the trend is now clearly downwards. Whatever they said to the analysts/institutions a few weeks ago has not done the trick. More PR around Momelotetc won't restore the faith, they are going to have to come up with something more convincing in terms of both short and long term value. In addition Gilead's SP is a long way off the peak of 2015. Someone over the pond is going to have to blink. I'm hoping it'll be a wink in our direction. GLA

I know its hard to be positive when the SP remains in the doldrums but my position (FWIW) is that we can't criticise the BoD for doing what they said they would back at the AGM. At the time they said there would be no running commentary on the patents as they had no control over the process. They did acknowledge the need for better communications and we've had twitter for better or worse. When I've emailed the Chairman I've had replies within hours. Sierra are due to report shortly and it would be silly of the board to issue a half year update before the report is released. They've taken cuts in salaries and as IamH says the cash doesn't run out imminently. At the AGM the Chairman said they are looking at funding options other than a dilution - they know the well is running dry. Speaking to John Reader at the AGM it was obvious that they are as frustrated at the timescales as we are. We're still within the time window that Tim M cited for 'significant' value. The trials of 737 are still to be concluded.... I could go on.... The fact that we are down almost 10% as I type is disappointing but you either believe in the science or you don't.

Also don't forget that we still have Aurora to dispose of. It's been left on the shelf while the focus has been on 737 and 1801/2 but its still up for grabs. Many a stranger thing has happened, just look at Momelotenib's history...…. many a phoenix from the ashes! GLA

Hi Krone - I'm quite relaxed about this. As I've said before, you don't take a product out of the shop window until its sold. In fact by putting it on display you actually put pressure on potential buyers to make a decision. If a deal fell through and Tim et al had nothing as a fall back then we'd quite rightly be down on them like a ton of bricks. They can always withdraw if a deal is struck....

Excellent find Krone. And its still only February..... Just a little joke that I'm sure Utah will appreciate!

Iam - I don't think we'll hear anything from SAR until after Sierra release their update next week in which case the next two weeks are going to be twitchy b** time.

Utah - Looks like you were right. MM's dropped the Ask even before a trade had been made this morning. And then one trade goes through delayed at exactly the mid point. It's getting predictable....

Hi Utah - I can't see anything happening before w/c 24th which means at least another week of the MM's messing around with the spread and driving it up and down in an attempt to make a market. Over the pond it looks like the recent upwards trend has run out of steam. I get the impression that the analysts/institutions have been briefed and expected news which hasn't materialised. Sierra could quite easily be down in the 14's by the end of tomorrow. They need news as much as we do!

Hi Stoney. I buy into your thinking! One thought - might this be an institution buying into Sierra and if so what's made them take the plunge?

SAR is not a leaky ship, Sierra is. Draw your own conclusions! Just over 2 weeks to go before Sierra 'theoretically' release a quarterly trading report...… Meanwhile the key question posed on this board today 'with all the noise around combos why are we still under the radar?' 4 trades today... Is it because PI's hold all the shares and nobody wants to part with them?? GLA

Fadec - I may be interpreting this incorrectly but the 'rejected' application is for inflammatory conditions. The application for T-ALL is still 'status pending'.

I'm with Thoth on the Gilead angle but I fear they will go out of their way to delay milestones. ICR and SAR can protest all they like but Sierra/Gilead can avoid paying the milestones until they have compelling evidence that a combo will work in the US simply by extending trials outside the US which will mean that ICR can't take the licence back. However, IMHO its not that we won't get paid its when. Unfortunately the market will only react when money materialises.

Hi Krone, I think they will release news in phases, that way they rebuild and sustain the SP rather than a spike and fadeaway. There's not going to be significant news on Mome for a while which means they'll have to come up with something positive in other areas. The conversion is now out of the way and the next news will need to be something related to a 'success' in terms of progress with the pipeline. After two days of steady rises it will be interesting to see if the SP continues upwards, plateaus or drops back. Who knows.....

Hi Stoney - Yes, I first saw it on the BBC last night and its now getting wider coverage. I think it was Thoth who pointed out a long time ago that when it comes to clinical trials the design and targeting of likely responders is critical. Gone are the days of random patient recruitment. If IMM had targeted their Lupus drug trials more effectively in the US then they would most likely have passed P3 and I'd have even more money to put into SAR!!