Member Info for The_Paladin

Very many thanks Wigster77, Doc83, and jint for your detailed and complementary reports, and insights.

Your Herculean efforts are much appreciated.

Wishing you an enjoyable weekend. You deserve it!

Size82,

I don’t dispute your comment, although alternative solutions might be found to fund the anticipated trial? The debt incurred would need to be repaid, by various means, at some stage. I mentioned examples of this a few months ago when the issue of “non dilutive funding” was raised.

What is important is that there is no further delay in proceeding with the planned trial.

Investors patiently awaited the announcement of

“ funded P2 trials” earlier this year. This proved to be an unrealistic strategy, put forward by the board some 15 months ago, and nothing happened.

We now have a feasible simpler strategy which takes us back to 2021 when we were told that SNG001 “needed a fire to put out”.

This trial needs to happen asap. Synairgen have lost credibility owing to their abject failure in getting a trial scheduled despite apparently using their data to plan one, and attending a number of overseas conferences over two years, presumably to attempt to secure funding?

If the company isn’t relaunched soon, all its resources will be drained on the high end salaries , and other remuneration it continues to pay to its employees on top of its running costs as a small drug development company.

A desperate situation has unfolded. Without prompt action, this company will fold IMHO.

Let’s see if anything of value that we are unaware of emerges from the AGM, although I am not too hopeful about this?

I would have attended had the meeting gone ahead according to the usual schedule. I am currently on a break in Switzerland.

Nothing new appears to have emerged?

* Appointment of new Chairman confirmed.

* All resolutions passed.

Around 77,000 shares were traded today. The share price was unchanged when the market closed.

It will be interesting to read the comments from attendees, although the significant update that investors were hoping for hasn’t happened today.

Good luck all.

Thank you pmjh.

I looked at those two companies, and hadn’t gone beyond the point that Dr. Parry-Billings’ association with both was brief (approx two years in both cases) and ended in 2004 and 2007 respectively.

Your update is reassuring. My research on our new Chairman yielded positive results throughout his career, from a researcher, to leadership roles in the biopharmaceutical industry.

I suspect that our future hopes lie with his actions as well as those of Dr. Mankowski, and Mr. Colliver. The long standing executives have made little impact on relaunching the company in going on thirty two months.

As previously stated, should there be a positive update (in terms of ACTIONS and NOT WORDS, which have previously led to nothing) today, investors will be reassured.

Without a concrete update, the company will effectively have demonstrated zero progress over three AGMs.

Good luck all.

Unfortunately, after an endlessly frustrating 32 months of false promises, and no delivery whatsoever, most investors have lost faith and trust in Richard Marsden and the Synairgen Board, and executives.

There are two possible scenarios this week.

First, the announcement of a funding plan for the planned trial would add momentum, and offer some hope for investors. The successful completion of the trial next year would offer the company a way forward, and LTIs might then aspire towards recovering some or all of their massively depleted investment.

Failure to deliver the necessary trial funds this week would be a continuation of the bluff and bluster we have been presented with since February 2022.

Dr. Monk, and dare I say it, Prof Holgate, should be ashamed of themselves for presenting an unrealistic strategy to investors at the last AGM. The company didn’t have the resources nor the expertise for this, and we are now back to 2021 - about SNG001 needing a fire to put out.

Richard Marsden and Dr. Monk should have been sacked when the Sprinter trial failed. It still shocks me to think that our P3 trial was conducted with so many patients that didn’t need the treatment?

It is as it is. Should there be an RNS announcing a fully funded trial, we move forward. Without the funding, the only hope we have rests with the actions of the new Chairman. Richard Marsden and his Board, and executives, have failed miserably thus far. It is unlikely that any of the longer serving members of this team have anything of value to offer.

Good luck all. We really do need it.

“I have followed Synairgen’s approach to SNG001 as a potential broad-spectrum antiviral for a wide range of severe lung infections for some time and look forward to working with the Board and broader team on its clinical development in a crucial area of unmet need.”

Dr. Mark Parry-Billings, following his appointment as Synairgen’s new chairman.

It is helpful to have someone, who knows what he is doing, and is well connected working with Synairgen.

It would be even better if Richard Marsden stood down. Nothing against him personally, but neither he nor Dr.Monk have added anything of value to the company in 32 months, as far as I am aware?

Scam? For sure, the trading over a long period of time has been very different to any other share that I have been involved with.

It is too late to disembark now. Should it be proven to be a scam, then I hope that all the perpetrators will receive jail time and have their assets confiscated by the courts.

There is no evidence to verify the latter. For the time being, all holders will hope that there is a turnaround to the ongoing decline.

Good luck all! We sure do need it as things stand here!

Doc.D

IMHO, following the recent update, the company need to have a trial funding solution in place in time for the AGM.

They have yet to deliver on their promises since our demise early in 2022. To date there has been no gain whatsoever from announcing significant personnel changes, and repeatedly introducing potential trial timings and different strategies. There company now needs to show demonstrable progress from their actions.

This time around, what has been announced seems a lot more positive than before? It is time to deliver the funding to enable this trial to commence whatever the share price dilution. There will only be a continuation of the share price decline until that happens.

Geeforce2010.

I agree that long term investors were all hopeful of further progress at the start of the year. Unfortunately the TB and family sell off quickly reduced market confidence, and dispersed our previous optimism.

I still haven’t understood why a company’s CEO would deliberately set out to achieve a relatively small gain at the expense of furthering the company’s interests? There hasn’t been a hint of any recovery since then. As far as I can see, the investment case has not diminished since January, although there has been no effort from IQ-AI to promote it, and restore market confidence.

Is there a bigger picture underpinning this that investors are not yet aware of ? I hope so, otherwise the shenanigans at the turn of the year were nothing but a greedy “me me me” cash grab at the expense of investors’ best interests.

Please correct me if I’m wrong, but doesn’t the timing of this trial hinge on securing the necessary funding?

In the past, for example at last year’s AGM presentation, it seemed to me as though those details had been quickly cobbled together? I remember being unimpressed at the time? The “strategy” seemed to be a far too complex an undertaking for a tiny biopharmaceutical entity? Unfortunately, this proved to be the case.

This time around there seems to be a more solid and achievable proposition on the table. The delivery method, and diagnostics have been thoroughly researched and developed and are ready to go. The company are well set up to achieve regulatory authorisation in both countries? Why else has Dr. Gareth Walters been retained? It seemed to me that there was a greater sense of urgency in yesterday’s Proactive Investors’ interview than in the previous two ?

The funding arrangements for this trial needs to be announced sooner rather than later! It has taken a long time to arrive at a workable strategy. There are no good reasons for further delay.

Good luck all!

The numbers show that a share raise at the current share price isn’t a reasonable proposition.

A share issue to raise £10m (my guess) at a share price of 2.5p (another guess) would require 400 million shares to be issued. As the trial proceeded we would presumably be trading at a share price of 1p or less?

All estimates on my part. Would the company execs and board continue to receive their current salaries should that turn out to be the case?

I doubt whether any retail investors would subscribe to additional investment at these levels? In particular as the current feasible trial plan could well have been brought into operation two years ago when the company was in a better financial position. Let us all hope that a different funding plan emerges to accommodate today’s update.

A detailed interim statement. The trial plan is established, as is the “going concern” status to the end of 2025 unless there are unforeseen developments?

What is missing is the necessary finance for the trial to commence. Until that is established , the company remains in limbo.

“If the company can present a doable plan to achieve that, I won't be voting for change at this juncture.”

I totally agree with that statement, other than to state that the doable plan needs to be fully funded.

The problem I have with is that I believed that we had been presented with a doable funded plan at the last AGM. A number of investors sat through H1, 2024 awaiting its launch. At the very end of that period we were presented with a different unfunded doable plan. We were not offered an explanation as to why the original plan didn’t materialise?

It is difficult for any investor to believe in yet another trial announcement from the company unless they are able to state a launch date for the trial, together with full details of the funding arrangements.

Further vague statements from the CEO are not enough. Surely the company has had sufficient time to make the necessary concrete arrangements by now?

Unfortunately the AGM will be a meaningless affair unless the company announces details of a FUNDED P2 trial.

Synairgen cannot continue to exist on conjecture, and senior personnel changes for much longer.

There is little perceived interest in the company, apart from that shown by long term investors, like myself, who have foolishly believed for 31 months that the company would eventually come up with a way forward to a trial.

The lack of interest in Synairgen is not surprising, as they haven’t yet offered anything substantial during that time.

A third AGM without a detailed announcement

of a funded P2 trial, would be difficult to accept.

I tend to agree that the CEO has had sufficient time to put the company on a more even footing. Should he have failed to do so by the time of the AGM, his fitness to lead the company must surely be in doubt ?

All Synairgen investors want the company to succeed, for obvious reasons. Doc.D’s prediction is based on the company’s communications to investors since February 2022. Nothing of value has been achieved since then.

Everything depends on where we are with respect to the long awaited P2 trial? Either that or a less likely scenario, similar to the one described by Spacman. Either would be a positive step forward for investors. Should Doc.D’s prediction be the outcome of the AGM, it would mean three consecutive AGMs with zero progress. A dire situation indeed!

Our current state of play makes me think about part of Donald Rumsfeld’s famous quote

“. ….. as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns.”

Good luck everyone. We sure need it.

Dr. Parry Billings’ CV is impressive, both in high level academic research, earlier in his career, and subsequently in his various roles in the biopharmaceutical space.

My understanding is that his major occupation as Head of Drug Development at Chiesi and Site Head of Chiesi’s R&D operations based in the Karolinska Science Park will continue, and that the Chair of Synairgen will be an additional role, as is currently the case for Simon Shaw?

This was not the RNS that I was hoping for, but Dr. Parry Billings’ considerable relevant experience and expertise can only be of benefit to Synairgen? Until we receive detailed information about the company’s latest strategy, and an explanation of its funding arrangements, we remain in the dark for the moment. Perhaps the AGM will provide us with clarification?

Is this a valid argument? The value of each share was in excess of 5p earlier in his year. It was depressed through the CEO’s selling “strategy”, presumably to maximise gain for himself and his associates?

As his actions have severely distorted the market for the time being, presumably there will be a return to a level higher than that postulated by yourself when the market has received further anticipated positive news from IB?

A neutral RNS - definitely not worrying news, based on what we have learned today. To add context, Synairgen have added biopharmaceutical industry experts both to the Board and to the Executive Team in recent years. There has been no discernible change in terms of how the market views the company as a consequence to these appointments. That doesn't mean to say that their influence may well bear fruit in the future? We are still in need of a funding solution to enable the planned trial to go ahead. I have no idea, based on some quick research this morning, what difference the new Chairman might make to enable this to happen ?

Investors still need the fat lady to sing following her long absence from the Opera House. From this morning's announcement, she is no closer to returning to the stage than she was yesterday.

I agree. While frequently remonstrating on this forum about the lack of progress since the conclusion of the P3 trial, I still remain optimistic about an eventual successful outcome to my investment.

The only current important factor is the anticipated announcement of a funded P2 trial. Anything else is a side issue, and of little interest to me until the latter is achieved.

The RNS dated 11 October 2023 included the following information:

"John Ward will step down from the role of CFO and Executive Director on Friday 3 November."

This was the only occasion that John Ward's departure from the company, and its Board was announced by RNS.

Consequently, it must be viewed as an RNS announcing a Board change, as well as supplying information concerning a replacement appointment. The RNS's title is not relevant to the argument.