Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
JW: "I don’t know the figure off hand".
I didn't attend the AGM, but if those were the CFO's words, then he was inadequately prepared.
"Question.: Have you shared this transcription notes here before today Doc83, or tis this the first outing ?"
I referred briefly to Doc83's information at the end of my earlier contribution. You can read it as part of the extensive feedback from Doc83, Wigster77, and others following the AGM. I was surprised to discover that our CFO was apparently unprepared for straightforward questions from investors. Synairgen is currently a tiny biopharmaceutical research company without any income streams. The accounting procedures should be uncomplicated at the current time.
The CEO continues to place senior executives in position with nothing but an outline strategy in place? Why couldn't Helen Gearing have been offered an interim CFO position pending future progress?
We are currently identifying suitable cohorts for P2 trials financed by the company. Nothing else? The date for these trials' commencement is set for sometime during H1 2024? Yet ,we recently appointed a CMO, when there is no real need of one for the time being?
The CEO and Board have made huge errors with premature appointments to the senior leadership group IMO. Since 2021, we have four additional senior execs, with little to do at present, in situ, and the share price has performed abysmally over the last 18 months. Yet the CEO and Board continue to add additional cash burn to Synairgen's dwindling resources. The latter is most probably the capital from the last cash raise? Why aren't they more prudent, at least until they are finally able to make a positive announcement regarding the company's future? By this, I mean something to reassure the market, and reawaken investor interest.
On the subject of fiscal prudence, why is Dr. Monk presenting data from a trial, conducted in 2020, in Boston? Surely, he and his team should by now be fully focused on bringing about the necessary developments before launching the P2 trials in H1?
Finally, looking back on the detailed reports that attendees at the last AGM kindly shared with this forum, it appears that the previous CFO failed to answer relatively straightforward questions from investors? Could this have contributed to his resignation?
Thank you Brand. Your vigilance, and sharing of quality information is appreciated, as always.
I wish that I could say the same thing about Synairgen. The Peer Review will eventually appear on the company's website, as well as on Synairgen's LinkedIn and X (twitter) spaces - when it pleases them! Whatever happened to the promise of improved communication from the last AGM?
"the problem is market fatigue and absolute disinterest - exhaustion really with the whole Synairgen saga, and the company does nothing to address that."
These facts, as I see them, bear out Spacman's statement:
1. Synairgen shares have traded at below 10p since the beginning of May.
2. The share price has traded in the range of 6.5p to 24.5p during the last 12 months.
3. Unless something changes before the New Year, the year high will drop to 16.5p. That peak value was a spike during a single day, which happened briefly with no underlying explanation?
4. Nothing of substance has emerged since February 2022. Some of our capital reserve has been spent (wisely perhaps in the long term?) on enhanced data analysis of the Sprinter trial results, and those from earlier trials. The summative data from the various analyses has been extensively presented at important conferences, with no meaningful reaction? The nebulous messages that investors were fed by there CEO about ongoing consultation at haste with potential partners of various descriptions have amounted to nothing.
5. As far as I am aware, the five senior executives, appointed in 2021, have contributed little, if nothing, of benefit to the company? Neither have the various paid consultants, who regularly accompanied the Synairgen team on the conference circuit. Our former SVP/Communications has since found employment elsewhere. This week a former consultant has joined the senior executive team as CMO.
6. The company has had no income since the cash raised to fund the last P3 trial.
7. Although the current strategy is potentially the most promising development in 18 months, a lengthy process with no guarantee of success lies ahead? It is my understanding that as a result of investor disaffection with lack of communication from the company, we will be informed as to how the processes leading to the P2 trials will evolve? Given a successful outcome to the latter, IMO we will need a P3 trial partner both for funding, and to provide an appropriate level of expertise to enhance our chance of success?
Perhaps my arguments are not balanced? After 18 months, we still need to turn a corner to get the company back on track. It is high time for the CEO and Board to announce something significant to change the way that the market has viewed this company for some considerable time. Surely all investors are by now becoming fatigued with their vague statements, persistent extension of trial deadlines, and general lack of progress? Is there any wonder that the share price is struggling? The company has done very little as yet to convince the market that there is, perhaps, an upward trajectory ahead of us?
Is it illegal to sell a block of shares, causing a substantial drop in the share price, and subsequently to buy them back under a different identity, perhaps?
I worked out that had I been able to sell my shares at last week’s high price, and bought back this morning, I could have made a £10K profit.
I am a relatively small holder. A significant seller might have made a considerable interim profit, while waiting for further development of IQ-AI’s strategy,
Someone has deliberately caused the share price to crash over two days? There is no news, or rationale, to support this manufactured collapse? The question begs why is someone manipulating the share price in this way? As a long term holder, I would like some answers.
“We now have a top-class CMO joining the ranks to get SNG001 global.”
You are right Fruitsnveg. I fail to see the significance of this latest appointment? From your comment, you are anticipating a successful outcome to the P2 trials, which will commence sometime during H1 2024. Further, we will then need funding for a P3 trial, which to my reckoning would take a further 1-2 years to completion? Before any of this can happen, there is the matter of analysing the samples from Southampton CTU’s UNIVERSAL trial in order to determine an appropriate cohort for the P2 trials.
All investors desire global success for this company. We were close to achieving this, but we’re thwarted by an unfortunate series of circumstances, some of which were beyond our control. Meanwhile, I still fail to see the short term value that the appointment of a CMO today will add to the necessary steps to achieve another P3 trial? Your comment concerning a cash runaway to mid 2024 serves to add to my doubts.
Wpa5
I used the same argument about the three senior executives that were appointed in 2021 in anticipation of a successful P3 trial outcome. They are still on the payroll, and there is no evidence that they have contributed anything of benefit to the company?
Similarly, can a, by now, vastly diminished company with no income that is funding its own minimal P2 trials justify the appointment of yet another senior executive? I sincerely hope that there is a good reason for this appointment? I fail to see how a CMO, as opposed to an external consultant, can add any value to the current ongoing strategy?
The company is using a recruitment consultant, and social media to fill this position. It is not advertised on Synairgen’s website.
The website is not being fully utilised, and has not been updated for a considerable time. This ought to be the case in order to convey the fact that Synairgen is up and running, and bringing its strategy to the fore. Previously, the time spent by Brooke Clarke on the pointless twitter/LinkedIn carousel, which achieved nothing, would have been better spent on updating the website IMO.
So many other companies likewise spend a considerable sum on the production of an impressive website. Subsequently, they give it very little attention. The website is one method of updating and reassuring investors. It would be helpful if Synairgen, who provide very little information, took this simple measure. It would be an improvement of the sporadic breadcrumbs which investors on this forum sometimes discover by accident, and kindly share with the rest of us!
A neutral RNS only. Less than I had hoped for at this stage.
How focused is our CEO on this business? As well as his involvement with RTOP, his name keeps cropping up with various Italian crypto training initiatives. Is this his next big project?
Surely, Mr. Zamboni must by now realise that investor confidence in SYME is slowly waning. It is high time for him and his colleagues to address the under delivery that was so apparent earlier today? Promises are no longer enough. Investors need to be shown actual progress.
The future potential remains, but more progress needs to be demonstrated imminently.
Fruitsnveg. Like you, I view the exchanges on the advfn Synairgen board as being somewhat deranged. I do not follow that board. Certainly not any of the individuals that contribute to it. I lack the ability to discern anything whatsoever from their very odd dialogue. It is as though they are communicating in a code known only to themselves.
I did have a brief peek at several forums yesterday to see if anyone had an explanation for the higher than usual number of Synairgen shares being traded? On the advfn board, amidst the indiscernible code, I discovered that one individual had copied one of my comments from this forum verbatim onto the advfn board? I found this odd to say the least. I believe that it was a futile attempt at goading me from afar? I subsequently used it as an example of the type of pointless immature behaviour that we should try to avoid on this forum.
To answer your other point, sadly I have no particular skill that might influence trading to benefit the Synairgen share price. If only that were the case. Like all investors, I continue to wait, impatiently at times, as some of my recent comments demonstrate, for information from the company which might have a positive impact on the share price. It appears that I may have a long wait ahead? However, as stated earlier, I now believe that if and when concrete evidence emerges, some interest from a large pharmaceutical entity may well come to the fore? IMHO only. DYOR etc.
Professional.
The investors in this board are not being played by the company, or anyone else. That may have been true 19 months+ ago, when I was carried along by the hype that came from so-called “knowledgable” investors on various forums. We all thought at the time that our Synairgen investments were once in a lifetime golden tickets to a substantial profit. The company didn’t encourage any of us to invest, nor to remain invested. It was all down to individual decisions, nothing more.
As to the present, investors are remaining invested as we believe that, based on the information at our disposal, there is a fair chance that the company’s strategy will result in decent P2 results. Additionally that our investment will recover from its current depleted state.
Please cease from goading others. You have argued well previously. A return to sensible comments would be appreciated.
There is another forum - the advfn board, which specialises in unintelligible dialogue. One pointless commentator on that board quoted one of my more underwhelming comments earlier today. His/her aim is merely to troll, and goad others. Certainly not to indulge in a sensible conversation about the company and its future.
Please refrain from reducing the conversation to that individual’s level. Your cooperation with this would be appreciated.
Thanks jonnyboy33. We are on the same page with this investment, as are many others on this forum. It has indeed been a very long wait for some positive news. I remain confident that SNG001’s journey towards commercialisation will continue. From past experience with this company, I am seriously thinking that the baton will need to be handed on at some stage to complete the race.
ATB to you and all other LTIs. In addition, wishing Doc.D a swift recovery to good health!
Thank you for your reply Doc83. You are right, of course. I trust that your most pessimistic forecast doesn’t come to pass, as was the case in Feb 2022! Let us all hope for better times ahead, and that the company’s current strategy comes to fruition at some, as yet indeterminate, time in the future.
On reflection, I now wish that I hadn’t posted yesterday. I was expressing my frustration at the glacially slow progress during the last 19 months, and the lack of communication with investors and the wider market.
Another company, in which I am invested, provides investors with significant quarterly updates, by way of a newsletter. The company is gaining some traction recently, and the significant markets that have been laid down over the last few years are now helping to attract new investment. Their initiatives are now gaining serious attention.
A similar effort from Synairgen would undoubtedly be helpful. However, from past experience, I realise that this is highly unlikely to happen!
Earlier, I was offered 6.9p when I set up a dummy sell of 100K shares.
I find this surprising! It seems that the strategy the company has in place is not being communicated effectively to the market?
Someone recently rightly commented on the CEO’s lethargy in the recent short Proactive Investors interview. Dr Monk presents highly technical information monotonically. To put it candidly, he is boring. Likewise, the recent written communications are for the scientifically literate. They probably wouldn’t command the attention of an investor, who is seeking an innovative and potentially significant product? There is a lot of competition for investment in Synairgen’s space, and we are failing to grab any attention?
What became of the advertised science writer position? The company is in need of literature, which will capture the attention of investors, as well as punchy presenters, who are able to deliver the appropriate information with panache and conviction.
Our future depends on the success of the forthcoming P2 trials, and what they might lead to. Meanwhile, it would be useful if our underworking executives put their heads together, and come up with some ideas to convince the market that Synairgen is alive and well, and a potential bargain for future investors.
Thank you Fruitsnveg.
Prior to your comment, I too had misunderstood that Synairgen were about to arrange their own investigator-led, and observational trials in order to determine the optimum patient groups for the anticipated P2 mini trials? It seems then what they were referring to this in the recent interim statement, they meant that they will used data from the Southampton CTU’s UNIVERSAL trial? This was my understanding previously, but was subsequently confused by the company’s statement.
There have been a few misleading comments from various sources this week. Wigster77 pointed out the statement concerning an anticipated P3 trial in H1 2024? I fully agree with him that it will take longer for this to happen. We are nearly into October 2023, and the process leading to determining the patient groups for the two P2 trials is nowhere near complete.
The Synairgen board stated at the end of the AGM that they intended to communicate more frequently to keep investors up to date with developments as they occur. It would be useful if their statements were clear and unequivocal. This would avoid avoid confusion such as those concerning the pre-trial studies, and likely future timelines.
My understanding is that the company is slowly moving towards a P3 trial, and possible future commercialisation, of SNG001. The Board and CEO really do need to improve their communication with investors, and with the market. IMHO it is their failure with this aspect of their business that has led to the share price collapsing to our current abysmally low level.
Likewise, I bought my portfolio of IQ-AI stock over the last three years, and have held all my stock through thick and thin. I foresaw the potential of this company, and the integrity of the IB team persistently shone through like a guiding light.
Previously, my target sell price was 15-20p. I have seen enough recently to stick around beyond that range should it be attained, and to see what happens?
More patience is required. However, the current potential of this stock is well ahead of that of my other investments.
Saliva. Your abrupt return to this forum yesterday is noted. The fact that you are shorting this stock is blatantly obvious. Your attempt at scaremongering is transparent. No need for you to reply. Your unhelpful comments are now filtered.
Today’s RNS was the expected six monthly update on the company’s current progress, and on its financial situation. There was nothing too unexpected in the company’s summary or in the associated reporting. Coincidentally or otherwise, Dr. Monk’s recent article was the featured editorial in today’s edition of Pharmaceutical Online.
Oddly although all is more or less as expected, the share price has dropped by 17.53%, on the back of 200000 shares being traded. Most of these trades are reported as buys, with the bid having dropped to 7.01p. An overreaction to an unremarkable day of reporting and an underwhelming day’s trading, or am I failing to understand something about the process?
https://www.pharmaceuticalonline.com/doc/respiratory-viral-infections-the-next-frontier-for-antiviral-drug-development-0003?vm_alias=Archive%20Link&utm_source=mkt_PHARM&utm_medium=email&utm_campaign=PHARM_09-21-2023&utm_term=1265e580-0128-4ee8-99fb-877c28aa031a&utm_content=Archive%20Link&mkt_tok=MDc1LU5WQy0wODYAAAGOV0np1fBitWw4zvWA8CzAW2Q8qnF3Lx-lJXFp99rDYUOtCsaaGOPhGXmBD-DnD4sqza8b9NOC1jYXUntRgOE8T4G1UI_Hom2_2g5YGFwXt39dAKg