Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Great post, Ben!
I could expand on point 5 a lot, but will add just one point:
Imagine documenting this business risk and mitigation…. “in case of total failure of the UK based regulator authority, we will establish an offshore entity to run our governance process”.
That’s a big wow!
It took Figaro ages to shave the Sultan due to the fact he was swinging. He was the Sultan of Swing. Sultans of Swing is a song by Dire Straits. Another meaning of Dire Straits is **** Creek.
Oh heck, wish I hadn’t gone down this rabbit hole!
Yep, I remember that!
There was no geographical stipulation in the next milestone and it was explicitly stated that if any milestones were missed, they became due (cumulatively) at the next milestone.
“if we go for a mediocre on licence it will be worth considerably more than the upfront payment 6 and a half years ago”
Or more accurately (apologies) CR go for a mediocre on license….
Then SAR’s 27% share will, I anticipate, pale the £5M HNWI investment into relative insignificance.
For those unfamiliar with Michelle Garrett’s background (which included me in to a few minutes ago), here’s some relevant highlights extracted from her bio:
…..returned to the ICR in 1999 to take up a team leader position in the Cancer Research UK (CRUK) Cancer Therapeutics Unit. Her research there specialised in the discovery and development of novel small molecule cancer therapeutics targeting cell signalling and the cell cycle. Whilst at the ICR, Michelle became a Reader in Cancer Therapeutics and Head of Biology for the CRUK Cancer Therapeutics Unit. In September 2014 Michelle joined the School of Biosciences at the University of Kent and currently has three cancer drugs in the clinic.
… AKT inhibitor AZD5363 the AGC kinase inhibitor AT13148, and the CHK1 kinase inhibitor CCT245737 (SRA737), which are all currently in clinical trial for the treatment of cancer.
https://www.kent.ac.uk/biosciences/people/1185/garrett-michelle
Utah, imagine you’re renting out a house.
You get a tenant who initially pays you up front, then uses clauses in the contract to avoid any further rental payments. However, in the meantime he improves the property and then hands it back, worth many times more than when you initially let it to him.
Good deal or not? :)
SOG absolutely spot on as always…
“ announce they have put it on back burner” - nowhere in the RNS is that stated. And how could they anyway? It’s not their product. It’s CPF owned and SAR haven’t actively worked on “SRA737” for flippin’ years!
What’d does it *actually* say?
It says: “ We look forward to evaluating the potential development opportunities for SRA737 with CPF and will provide further updates in due course."
Further updates in due course.
Roll on the next RNS!
Look at it from Dilley’s point of view: it’s absolutely clear that he wanted to get one product near to commercialisation so that he could get the board to award him several million dollars worth of shares and sell the whole company of as quickly as possible. And in that process, momelotenib was the one. It’s as simple as that.
Should need no explanation, except that this post was after the Pronai (Sierra) deal for SRA-737......
Thoth2
29 Sep '16
Posts: 5,481
Price: 1.25
No Opinion
When a deal is being done ndas are in place. Which got many of us very frustrated with lack of news. Now we know why.
Bailiff, last time your left test tickle was itching, there was no RNS and no big SP rise.
Have you considered that maybe it’s not a magic b0110ck after all and it’s perhaps scabies or herpes?
Or perhaps just a hint to change your undercrackers more often?
Luv ‘n hugs xxx :)
Gunner, your lack of logic is staggering!
If you Google for “SRA 737” then your first hit tells that it’s owned by Sierra.
And even if you’re closer and know the progress of that molecule, you’d deem that it’s Sierra’s until confirmed as returned, and re-named by Cr UK/ Pioneer fund and Sareum.
In fact, it’s so simple - the clue’s in the name.
It’s the 1st - make of that what you will !
However, someone did mention, a while ago, that one or more nominee companies / brokers will sell small numbers of shares to cover account fees where there’s insufficient cash balance. I’d guess this a 1st day of the month activity?
Brilliant - thanks ahfam, knew I could rely on you!
The other factor is, as I’ve mentioned before, Sareum will have to be more involved is that the royalty based deal suited cash-strapped small company like Sierra, but likely won’t suit a large pharma who might want a more fixed cost deal. So all parties will need to agree variance on the old deal.