Member Info for shepster

Hope all goes well at Addenbrookes PCS

I have to give credit where it is due, SP did a very good job on the presentation, he was very clear, enthusiastic and professional, very good to see.

I feel he did not answer the question about where does all the money go very well, but it is not an easy thing to do in front of a room like that. He did inspire me to believe that there is still and endgame in sight, which again is reassuring but i can't help but feel worried by what tim and others are doing in the background every week as it still seems very slow.

Lets hope there isn't going to be another AGM and i have to eat my words, but i feel there may be quite a few more yet which will mean more placings of fund raises to keep the expenses being paid.....................

Good to see something positive though, well done SP.

GLA

I did write to Sareum to air my views directly about lack of communication and salaries based on productivity.

SP did respond which was good, but he did not really make me feel any better, he said they are aware of the feelings of shareholders re communication, he listed what they each do in terms of roles, they each work 3 days a week according to him, although sometimes more, he then quoted the following in response to my question about is tim on full pay for half time hours - "As you will see from old Annual Reports & Accounts, there is a long-time agreement that Executive Directors are paid the same per diam rate and this still holds"

As per current thread i feel the current burn on salaries is high for what is being achieved, having worked in large pharma for a long time i am well aware of the high salaries for directors, but, this tends to be when they are in profit and actually selling product, we are a long way from this and a burn rate of over a million every year seems a lot for a small team in my opinion. If tim is not actually adding much value now apart from experience and history that seems to be far from ideal, i bet his expense costs for the boston trip were quite high just to sit in a conference with no agreed targets of meetings?

Not sure how we get around this but i am concerned

Best wishes to you and your wife Warty, sorry to hear that

Can i ask a question, why does the impact of buybacks of large amounts of shares not impact on, and increase, the share price, i am baffled as to why this would not, in fact they have gone down this week as a result???????,

not directed to anyone in ,particular would just love to learn some reasoning and it confuses me a lot, thank you in advance

Totally agree with all that has been said

As I keep saying we have no idea what anyone of them do week to week in terms of roles and responsibilities

They raised all of their salaries a while back and I think are sitting pretty on a good earner doing very little

Tim being a case in point

He has gone part time

What does his role now cover

Who is taking up the bits he used to do

Is he getting paid the same as he previously was, it looks to be the case that he is????

SP has taken on the reigns at the helm but we don’t know a definitive direction of travel or any timeline

It appears as though we are just supposed to be happy with the current situation

He has his fingers on 5 or so companies from what I can see, how is he devoting enough energy to leading us in the right direction

After 20 odd years as an investor here I feel I have the right to be informed

I for one am not and Boston just highlights this again to me

I totally agree

After all this time I would have thought we should be beyond the hopeful conference meet

If the science is as good as I hope they should be asking for a meeting with us not the other way around

What are our bod doing every day if they have to rely on this as the methodology for progression

Totally agree PCS, i think Gilead and others similar large Pharma are always scanning for opportunities, i also think that immunology is also a massive area which should benefit us in the longer term, i just get frustrated with the complete lack on engagement from the BOD and information about what they are doing, sorry for the moan.

Hope you are well

It is all well and good posting examples like this but i am not sure i would jump up and down about a 61% increase on our current share price, that would take us to the mid 20p's, hardly life changing. Again we still hear nothing from the BOD apart from edison (a bit like marking your own homework in my opinion but at a very high cost) and tox study has started, what are they doing to be more proactive, tell us and the marketplace please or the share price will continue to fall.

that is worrying, i am concerned by dr parker, i am not sure how much effort he is really putting into sareum when he is on the board of so many other similar things, if he is taking 100k out of all of those like he is here then he is onto a very good thing. if he had a good track record of achievement with sareum i would have no problem with his salary but with all of the **** ups and delays recently i am not sure the bod warrant this much salary at the moment. since the restructure with tim going part time etc there has been no explanation of salary changes, roles and responsibilities, or any milestones of measurables for any of the bod.

Hi BH

Well said and i couldn't have put it better myself.

The market is very underwhelmed by the RNS as it is confirmation of something that should have happened a long time ago. We only have a limited shelf life and it is frustrating that this is dwindling away at a fair pace at the moment with little or no news coming out currently. As everyone says we have to hope this is part of an agreed plan with a prospective buyer.

Personally i still really believe in the science but the BOD leave me very underwhelmed, the cash runway and burn rate is very high for what is being achieved. I hope they do not what they are doing. there have been a long list of bad decisions recently with RF being the worst in my opinion.

i have everything crossed for progress sooner that mentioned recently

GLA

Hi Hopkirk - that is so good, it could have been written by them the way things are going this year, thanks for the giggle

Hi PCS, HBD, Krone et al

I totally agree and that has been my gripe of late, there doesn't seem to be any laser focus at all be it in sales or product development, and the really worrying this is there is little visibility of any activity at all, these sort of issues should not take this long, even for a small company like Sareum. There should be a focus on getting the current 1801 product out and finished and in a saleable position, any focus on 737 or FLT3 should certainly not be a priority until we get some traction on the first line products, we need cash and soon with the companies burn rate.

As others have said the lack of visible action may mean there are other things in play like a takeover, but this has been said for years and there is still no real signs. I personally think it is because they have too many other commitments and get paid handsomely from us so don't have to stretch themselves for anything more at the moment.

I would love to be proved wrong........................

GLA

Hi Aber, nice one, you might be redecorating by the time you hear anything pal

I agree Aber, i would have thought it would have been the correct thing to inform the shareholders what is now happening with TM, now he has gone part time what is his role and how will this affect his salary or does he think he should draw the same salary, same for SP, what will he do, but there has been nothing from them with regards this change to the structure, or not that i have seen , please correct me if i am wrong.

I do have everything crossed though as i still believe that the products are good

GLALTH

I agree with all that has been said about the potential of our drugs, it is why i invested in the share 20 odd years ago.

I am afraid i can't agree with the sentiment about how well the BOD are doing though as it just seems a shambles to me. Parker is in charge as far as i can see as our previous leader has gone part time and is not heard from apart from attending the odd conference in the hope of a meet with someone.

We seem to going at a snail's pace regarding development and trial work and i am at a loss as to why this is taking so long. The Tox review just continues to get pushed back from original timescales with no real urgency being displayed to alter this.

What do each member of the BOD actually do each week as there is very little happening and what is happening is taking forever.

People say that that the edison review is a good thing, i did write to the company to ask how much they paid for this and they would not disclose, my guess is around the 100k mark, Edison quote 60k as minimum fee, i am not sure this is good value as it is not an independent review and as such i am sure pharma and media view it as such and give it little credence.

We have 737 back but i don't think we have and great result here as no one seems to want it now, patent life is a lot shorter and if it was as good as i had hoped from my research i think someone would have got more from it by now.

I am not being negative here just very frustrated in the lack of progress and news, but i am fed up with the lack of transparency of what the BOD are doing day to day with their inflated salaries, had we not had such embarrassing events like RF and the share consolidation might be prepared to accept this but based on current performance i am not sure they deserve what they get, Parker seems to have his fingers in lots of pies on i guess we don't get much of his time at all.

As has just been pointed out we are significantly down in terms of company value, come on BOD step up and and demonstrate the value you bring to the company.

Sorry for the rant, GLALTH

Hi Modell, i couldn't agree more, I have been invested in this for 20 odd years now and still believe strongly in the science, i do however get more and more frustrated with the performance and communication of the board, in those 20 years we have not turned a profit of any description, yes we have developed and got to trial 3 drugs, we have just been given one back as no one else seemed to want it and the other 2 seem to be taking a very long time to get any traction in terms of trial work, clinical appraisal or even interest from larger companies. The BOD keep stating first in class, then best in class, better SE profile. If you even raise any concerns on this board you get shot down that you should sell up and go elsewhere if you don't believe. I still think i have the right to question the methodology of the board and company that i help fund. I hope they prove me wrong this year and move forwards at pace, for the last few years they have promised so much in terms of better updates etc but nothing has changed. So here we are with the share price at a very low point and the wage burn, in my opinion, is still extremely high, so yes i do agree with your comment and it does worry me that every raise we do is eaten very quickly by the Bod but i am not sure what they all do each week in terms of roles and responsibilities? GLA for an improved story soon. As someone else has said today we do risk getting left behind by other more nimble outfits regardless of the quality of the products made.

Morning Krone, hope you are well, what you say re 737 makes perfect sense, it would not be worth the effort and cost if they have no opportunity for it, i really hope you are right and that it was not done to prove a point by getting it back and that they now have to start trying to find a suitor for it, as we no that will cost money and time, both of which we dont have much of at the moment. Fingers crossed

Hi PCS, i am well thank you, hope you are back to full health as well buddy. Thanks for your post, very reasoned as usual, i just hope that there is an element of focus, whatever it may be, either 737 or 1801 to try and deliver the sadly lacking shareholder value that SP talks about, i think we both will agree on that, have a good weekend

I cant believe we are at these levels again, i dont see a lot of shareholder value at the moment, even multiples from this very low base for a sale or licence are not going to amount to a lot, after 20 odd years i see this as a real shame, i dont think 737 should be focussed on at all, it has been given back to us twice now with no one wanting to progress it, i may be wrong but let's focus on 1801 and getting this through to a position of strength, lets have a tox update on that at least as that may help the market position for the company