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Tommy, that RNS is not a Business Plan, it is a nebulous two line statement. Equally, they have never officially said anything specific about JVs, Marsden just stock-answers "everything is on the table" in every interview/questioning that he filibusters his way through.

The market needs to know, in detail, what the business model now looks like since the loss of the Sprinter monies and the failed sortie into the US. Is the company's core competency now reverting back to R&D after its failed distribution aspirations or can it "go it alone" again on the back of successful P2s? Or is it looking at an alliances model? Does it prefer a JV approach? And is any partnership strategy the same across both trials and commercialisation or is there a differentiation? Is it looking at a direct licensing model or franchising by territory and/or by product? Indeed, will SNG001 be packaged as a single product or multiple to be pointed at specific diseases? Does it prefer a single BP partner or several? What stage have discussions got to with BPs? What now is the anticipated market size and revenue projections for the chosen go-to-market strategy - have the price-points and volumes changed? What are the timelines? Any update on Universal and J&J that can be reasonably shared? Is the headcount expected to increase over the next year? Is the HQ base moving to another country? Etc. etc. etc.

That is all just off the top of my head but I'm sure TFG will have received answers to their many questions. "Er, dunno Reade, owt could happen" is unlikely to be an acceptable response.

I suggest the BoD get Numis back in to do a valuation, make it look to the market like the BoD has actually GOT a plan, and ultimately breathe some life back into the SP. Get out there and promote the company BoD!

TFG weren't hedged, they took a massive write-down like the rest of us, as per their AR.

But TFG are in a privileged position as a significant institutional shareholder, with latitude for obtaining more information from Synairgen, in particular the detailed path to the end-game, not just a date for the next trials. That is what the market and the other 72% of shareholders are being denied sight of. And that's why the market puts a zero value on the company (effectively) because it has no information to go on and attribute value to.

BoD - share the plan.

Firstly, welcome to MyIPA of the T-F-G team even though it has ruined the acronym.

Some good stuff on the science being posted by them, but of course shareholders believe in the brilliance of the scientists behind Synairgen absolutely; it’s the performance of the company (in lots of ways) that is the issue. The SP has gone down by 97% from the price that the company actually sold shares at (NOT simply some market benchmark that Marsden could argue) yet the company has done nothing to support the SP. The work that Brooke Clarke did (all those #investors references remember?) stopped the minute she walked out of the door. Marsden just stood by and lost a recognised BP marcomms expert, doubtless pleased to relax again. Brooke must look back and wonder why she ever took on an assignment to boost the profile of a company with a CEO who has 36 connections on LinkedIn and can’t be bothered posting. Of course, Mr Clarke must rue the assignment even more than her with his £16k flushed away…

Instead of the T-F-G shill working overtime on here, why can’t we have an official update? Marsden said the second half of 2023 would be “news rich” and it wasn’t – explanation required please. Simon Shaw promised improved comms at the AGM yet they have dwindled to nothing – explanation required please.

There seems to be no oversight of Marsden, he’s untouchable. Virtually the entire BoD have been there forever (literally), and the only two “independent” directors are these:

1) Flic Gabbay – absent from the AGM where the CFO was also apparently unable to answer any questions on the Sprinter spend, ensuring that there was no disclosure of the value of the Purchase Order that went in from Marsden to Transcrip. If you need reminding, Gabbay now sets Marsden’s remuneration.

2) Amanda Radford – previously No.2 to the CFO at the Post Office when Paula Vennells was in charge. As everyone knows, there is a high-profile public inquiry going on which has questioned the Post Office’s accounting records and the audit opinion thereon. Radford now heads up Synairgen’s Audit Committee.

I’m not alleging any impropriety by these two individuals, but it shows what the Synairgen BoD think of Corporate Governance, and by extension, their duties to shareholders.

A sophisticated CEO (which is what the company is paying for) would articulate a detailed and specific plan, whilst skilfully navigating the commercial, regulatory etc. potholes. So why can’t we have an update NOW? Is Marsden simply incompetent or just arrogant and careless? Why are shareholders supposed to rely on some vague promises of a future update from an anonymous shill on a public message board? It’s bizarre.

Synairgen BoD – end this nonsense and provide an update please.

Fruits, on the subject of Mankowski's departure from Transcrip, thou doth protest too much. Though I agree, a valuable appointment, although the main question is on the impact of Transcrip's involvement (or cessation?) on the trial timeline.

And the unnamed BP-sponsored P2 trial was only announced in December, not particularly "old news"..? Is it J&J priming it?

I see that Transcrip have just announced a new CEO and I do wonder whether Marcin Mankowski's sudden departure from there derailed the trial application with the regulators? He was out of there in June and presumably on gardening leave until joining Synairgen at the beginning of October.

There's an interesting bunch in this arena called hVivo who announced this last month...

https://www.fiercebiotech.com/cro/uk-cro-hvivo-reels-ps168m-clinical-trial-deal-rsv-drug

Thoughts?

Thanks Tim.

As you say, nothing. But of course Marsden doesn't want to put himself under any pressure by detailing objectives and timelines, and being held to account over progress so far, he doesn't get paid enough for that scrutiny. Er...

Grrr.

"I expect the next announcement to be trial approvals and subsequent launch. Second half of February onwards is my current expectation."

Thank you T-F-G, that's all we wanted to know.

Jeez, it's not difficult Dickie, just keep the punters informed AS YOU PROMISED. The shenanigans on here is wholly unnecessary and subversive - quite risky for YOU I would say. Get some humility man, and acknowledge the shareholders who pay your wage.

Aether, the online Cluedo that incessantly plays in your head is clearly entertaining for you, but do try to add some value to the actual debate around Synairgen's performance, otherwise join a gaming website.

Yes Fruits, a company that has destroyed 97% of shareholder value and tells its shareholders nothing is quite irksome.

So Fruits, you're telling us we're nowhere near a funding solution two years after the failure of Sprinter, and with an open door to J&J for the past 18 months, and with a CCO in place throughout together with a CEO and Chair who should have laser-like focus on that? No progress at all? Really?

Whilst the regulator is principally concerned with safety, efficacy and quality standards, there is also the consideration of the trial applicant’s capacity to bring the product to market. Synairgen is a tainted vehicle with doubt over its potential to raise capital. I guess Synairgen could argue that a successful trial would change the funding landscape, but an argument in the first place is hardly conducive to obtaining trial approval. Surely the regulator will want to see the funding underwritten, so will we hear an announcement of a funding transaction before anything else?

Ps This is actually good news for LTHs if it's going ahead, I'm genuinely excited at some progress at last. Please say something as Marsden won't.

Gunto's heroic depiction of Marcin's arrival was Comedy Gold today, but back to the question here, please can T-F-G consult with the in-house lawyer and see whether they'll let you update us all on this which you brought to our attention before Christmas:

https://www.businesswire.com/news/home/20231221905281/en/Thermo-Fisher-Scientific%E2%80%99s-PPD-Clinical-Research-Business-Selected-by-BARDA-to-Support-Phase-II-Platform-Clinical-Trial-to-Treat-Acute-Respiratory-Distress-Syndrome-ARDS

TIA!

Tommy-Fruits-Gunto is undoubtedly a shill operation with knowledge that the rest of us don't have.

But on the optimistic side, it means that some party thinks they have a valuable interest to safeguard.

Bump.

Interestingly, the Tommy-Fruits-Gunto team won't put a valuation on the business even when pressed repeatedly, nor follow up on this trial piece that Tommy originally posted. I wonder why?

Any further comments Tommy, since it was you who flagged this originally? Or are you sailing too close to the wind with these attempts at mollifying the masses?

Lol - touched a raw nerve back at base Tommy? I'd be interested in your spin on Marcin's rather sudden departure. The truth is quite obvious.

If there was proper support of the SP and a comms strategy then there wouldn't be this endless derision and exposure of the management's shortcomings. Let the SP slide 97% without a care in the world and this is what you get. On the plus side for you/their good self/selves, the Tommy-Fruits-Gunto machine should remain gainfully employed for sometime yet. Wow, what a vocation.

Https://www.businesswire.com/news/home/20231221905281/en/Thermo-Fisher-Scientific%E2%80%99s-PPD-Clinical-Research-Business-Selected-by-BARDA-to-Support-Phase-II-Platform-Clinical-Trial-to-Treat-Acute-Respiratory-Distress-Syndrome-ARDS

Tommy posted on this just before Christmas, throwing us all another bone:

https://homelandprepnews.com/stories/81548-barda-awards-117m-contract-for-clinical-trial-of-three-ards-novel-therapeutics/

It also ties in with Tommy's March reference.

Now, the detail behind this, on the BARDA website, suggests that the three participants will need to contribute 30% of the costs of any proposed trial. Extrapolating very broadly, Synairgen would need to bring $17m of project funding to the table, which would certainly exhaust the cash reserves. Even with stocks of SNG001 and other "in kind" contributions such as Synairgen staff charged in on marked-up day-rates, it's doubtful that Synairgen on their own could provide the funding commitment.

If this is the trials vehicle, then who is the funding partner?

Good try Fruits, but the truth is that Mankowski didn't deliver on the integration for which he brought in PE backers and they ended up hounding him out. He was a co-founder with Flic Gabbay who just happens to now oversee Marsden's remuneration award and who avoided attending the AGM. None of this necessarily detracts from Mankowski's ability as a CMO, but the appointment was somewhat opportunistic from both sides and "friends and family." Let's be honest at least.