Member Info for RMM3383

Something very odd going on here. We can have a whole day of buys and the SP goes nowhere whilst today we have one trade and the SP goes blue. Someone's manipulating.....

Unfortunately I have to agree Krone! I'm also a little sceptical that the increase in Sierra's SP is anything to do with 737 as we now seem to be in a range where the SP is just bouncing around rather than heading north. Unless of course its heading to the North Pole where Santa is waiting to be told that he can deliver a milestone...…..

Krone - re-arrange these words into a well known phrase - 'tongue, cheek, in'!

Glad you clarified that. I thought you were making me out to be an arsonist!

ColdFish - I'm quite surprised that we haven't heard anything from SAR given the head of steam that's building on this BB. I half expected an RNS today that would have gone some way to defusing the situation but it seems that the old strategy of deafening silence is still in place. I've stopped sharpening the knife and will instead pop out for an axe and saw in order to remove the dead wood a week on Tuesday.....

Thoth - The IMM deal may be shi* but it's certainly done wonders for their SP in the short term. I wouldn't say no to a little or even a large spike! Interestingly I've just been watching David Solomon of Silence on Proactive and he was asked how long typically it takes to get a 'deal' done. In his world its 3-6 months which is close to what I would have expected. I'm afraid I'm with ColdFish on this in that they (the BoD and NEDS) are looking increasingly pedestrian given how exciting we are told this sector is.

Have to say people that I'm a little bemused if not actually amused - Looking at the 2019 Annual Report in comparison to the 2018 version the format seems identical as are a lot of the statements. The Business Model is a straightforward cut and paste etc. Both reports stretch to an identical 48 pages. With regard to Aurora, the 2018 version announces that a partner will be sought while in the 2019 version we are reminded that they are in discussions. 12 months on and clearly significant progress. Personally I expect nothing of Aurora. If I go back to the 2017 report... surprise, surprise. Exactly the same template, business models, strategy etc. So I have to ask myself 'What has changed?' Well, clearly we've had a lot of dilution, the SP has tanked and discussions are...… ongoing. If you're happy with stagnation and comfortable doing the company's PR for them then continue to invest and vote for more! As Thoth revealed, one very large LTH has called it a day and sold up. My view (FWIW) is that the BoD (Exec and Non Exec) should not be given a free ride. Just over two weeks to go now....

I think you are looking at yesterday. It's a holiday in Canada today and the markets are closed.

He was brought on board specifically to deliver Institutional Investors and advise on fund raising etc. Under his guidance we have no II's and funds have been raised at heavily discounted prices. What he should be doing, in addition to fund raising etc is provide strategic guidance to the executive team and protecting the investors interests. His lack of strategic input has resulted in a SP that is now 1/3 of where it was when he was appointed so he has certainly not performed in respect of the latter and most probably in respect of the former (we don't know how he has advised Tim and John who in all fairness probably have no idea how to benchmark him). He's now well passed his 3 year 'sell by' date and for PI's the SP tells the story (IMHO) as to whether he should be allowed to stay.

Point 2 of the AGM is to adopt the report of the Remuneration Committee - Page 25 of the Annual Report. In the last financial year Tim and John were paid £187k each, Parker received £58k and Owen & Birch just under £13k each. The payments for Owen and Birch are within the norms for NED's but Parkers payment is above the average for a company making no profit, has no revenue and whose share price has tumbled. Tim and John are also both paid very handsomely. If you are happy with an overhead of £408k then vote to accept the report. If on the other hand you do not feel this is reasonable then you have the option to reject the report. I'm not offering advice simply highlighting that this is an opportunity for PI's to make their feelings known. The report is available at: http://www.sareum.com/files/6915/7424/6166/Sareum_Annual_Report_2019.pdf
If you don't vote you can't whinge!
GLA

A lot of IMM investors will be seriously underwater despite the rise today. Thoth was right to make the call when the P3 trial results were delayed. However, it just goes to show that 'best in class' doesn't always deliver the goods commercially while a poor second can scoop a reward. I still think there's a place for us in the market but where's the data that was going to be released in the 'near future'?

Looks like IMM are going to multibag today. Deal announced with milestones worth 1/3 of 737's plus all P3 trial costs in the US paid for. Licence only gives the partner rights in the US, IMM retain for RoW. IMM now worth £32m, SAR worth £12. Message to BoD - 'get the news out there!' IMM may have tanked after the botched P3 but have pulled the iron out of the fire.

ColdFish - I'd agree. Money in the hand now is what is needed otherwise its further dilution and jam.... well, whenever! Getting 737 back is not a guarantee of success and if it comes back without milestones then TYK2 has to fund it and we all know what that means if they can't get a licence away.... I suspect that the cogs are turning. They just need to turn a little quicker.

Thoth - What's the chance that Sierra will sit on the data due in Feb? If NG hasn't secured his non-diluting funding I can see the data being sat on pending a partner or CRT applying pressure. On a different tack should we not be more focused on TYK2 where the BoD have some control over progress?

Good find. If I'm reading this correctly not only have the new II's bought a significant chunk of the business but they have also filed that they intend to pursue a change in strategy.

Krone- It's going to be such fun at the AGM!

Krone - It would be very difficult to put a price on SKIL and for a buyer it would be a high risk purchase that could produce nothing. I personally would like to see SAR get more focused on a TYK2 licence and demonstrate some commercial nouse. Slightly disappointed (but not surprised) that following NG's visit to London nothing has been released about 737 and in addition no comments on recent releases in the field of immunotherapy. Unsurprisingly the SP continues to flounder while SLN (Parkers ex) continues to put on weight without obvious news(I'm think of writing an academic paper on 'The Idiots Guide to Managing a Share Price' Chapter 1: The Art of Communication - Talk to your audiences). I'm hopeful that NG while on his trip did actually meet with CRT to update them. But who knows, it may just have been a corporate jolly and we'll see nothing of consequence..... All eyes on TYK2 please! GLA.

https://apple.news/A7BUqLnbfRLaWa0nLdfSzZQ

Immunotherapy in the news. Be interesting to see if SAR comment.....

Thanks for sharing Thoth. So, the biggest LTH has bailed and for no other reason that they're fed up with the jam tomorrow story. If that doesn't send a message to the BoD then I don't know what will. Actually I do and the 17th December is looking bleak. The gravy train will not be leaving the station this year.

Looks like all the gains wiped out in one big sell. Now all we need is the announcement tomorrow of a placing to complete the week! However, if they do go down that route they might not be there after the 17th to collect those salaries....