Member Info for The_Paladin

“I’m not seeing a long list of new recruits hired just prior to the sprinter launch.”

TD_19. My mistake. I meant to say the recruits who joined the company between the trial launch and the top line Sprinter results announcement.

I totally agree jint. The CEO needs to add clarity to his future plans.

In particular, the funding of his proposed strategy? Small scale company trialling,to add further evidence to existing trial data, should have been completed earlier if they are an essential prerequisite to another Phase III trial? Surely, the CSO and the other executives should have realised this far sooner IMHO?

It is almost as though previous plans have not come to fruition, and something that is more easily achievable has been substituted in their place? Hopefully, we will learn more at the AGM, or preferably before then?

My apologies for the haphazard formatting of my last post. It didn’t look like that when I wrote it in my phone.

Doc83. They are no longer new recruits. All four were recruited in 2021 in anticipation of a favourable outcome to the Sprinter trial. They were once referred to on this forum as a team of experts, and would have been essential to the company had the trial succeeded.

Dr Gareth Walters. Chief Regulatory Officer. Appointed October 2021.

Helen Gearing.* SVP Head of Finance.

Appointed December 2021.

Richard Hennings. Chief Commercial Officer.

Appointed March 2021.

Richard Francis. Head of CMC and Quality.

Appointed September 2021.

* Why does the company retain an SVP Head of Finance, as well as John Ward, the CFO, whose salary and benefits are apparently on par with those of Dr Monk. There is zero income, and the company’s cash reserve consists of the residue of the cash raised to finance the Sprinter trial.

The CEO justified their presence last year, stating that they were working towards achieving a trial placement? I am prepared to be corrected on this, but that is my understanding?

My major concern at this stage is with the CEO’s lack of sensitivity as regards investors. He has produced little to justify his own existence during the last sixteen months, let alone the contributions of the more recent appointments to his team. The company’s finances are ebbing, and it is high time for him to step up and offer concrete evidence that Synairgen has a future.

GLALTIs

I have no idea as to their current contribution, as the activity of the company has been well under the radar. (Apart from a comprehensive analysis of all existing company data, and presentations of that data at appropriate venues). It is an appropriate question to ask what these executives actually do?

“ Who are these high powered expensive hires that aren’t needed?”

TD_19 . You know as well as I do who these executives are. My earlier question doesn’t label them as high powered . Nor does judge whether or not the hey are needed? I believe that my second question is a fair one in light of our current financial position. The same question was put to the CEO at the last AGM. His vague answer was accepted. However in the fullness of time there has been no progress to justify his response. My questions are:

“Will the CEO acknowledge that his pre-Sprinter hires were completed prematurely? Should he have waited for the (Sprinter) trial outcome before hiring? Can he fully justify the value that these employees are adding to the company? Why do we have two executives overseeing our finances when there are no viable income steams for the foreseeable future?

All perfectly valid IMHO, particularly considering our financial situation.

I have seen a transcript of this interview previously. The (sponsored) article was published by Scientific American Custom Media on June 12.

Is it possible that Synairgen will use this to inform their strategy? A coherent approach would serve to improve investor confidence.

https://www.scientificamerican.com/custom-media/how-immune-boosting-medicine-could-save-lives-in-a-pandemic/?mvt=i&mvn=5137e71b0f724be6a685abeb6391a57e&mvp=NA-SCIEAMERLIVE-11237933&mvl=HomeLatest

Thank you Wigster. Your offer is much appreciated.

You have nailed it by stating that the company’s future financial arrangements are the major issues. Here are some points that have raised my concerns for some time.

1. Why are they continuing with pre-Sprinter salaries, expenses, and bonuses when there is no viable income stream for the foreseeable future? Could these salaries be reduced, with employees rewarded for delivering on targets in the future?

2. Will the CEO acknowledge that his pre-Sprinter hires were completed prematurely? Should he have waited for the trial outcome beforehand? Can he fully justify the value that these employees are adding to the company? Why do we have two executives overseeing our finances when there are no viable income steams for the foreseeable future?

3. Can the CEO finally produce a development plan, with a detailed strategy, costings, and probable time scales (for the various stages)to bring SNG001 to market? How does he propose to raise the funds necessary to carry his plans through?

Just a few questions (off the top of my head). Others have raised similar issues on my his forum so that they reasonably represent commonly held concerns. My apologies for the implied negativity in these questions. However, I think that the CEO and Board have induced this negativity as a result of their poor communication with investors over the last 16 months.

ATB Wigster, and thanks again.

Thank you jint.

It is reassuring to know that the longevity of the SNG001 patents are not a concern for the foreseeable future.

The major issue is that the company needs to secure the necessary finance to complete its pre-trial studies. Subsequently, to plan, organise, and conduct a Phase III trial. I suspect that we will need to arrive at the latter stage before some market confidence is restored.

Perhaps there will be more information about the process before the AGM? We can but hope, as very little has been communicated to investors thus far?

The CEO and Board have lost my confidence for the time being. A statement with concrete information about our future plans could instantly change that.

ATB and GLALTIs.

Spaceman is just suggesting a scenario, that fits the very limited information at our disposal.

A contribution to a conversation, with very few facts available to suggest that we are close to getting back on track?

It has been a quiet sixteen months. It is even quieter since Mrs. Clarke’s departure. The Synairgen LinkedIn/twitter carousel has ground to a halt, although it did not attract very much attention, and far too often received a thumbs up from Synairgen employees. What did that tell us?

The CEO and his team need to restore confidence in the company. The “jam tomorrow” statements that have been with us for over a year have changed nothing.

The cash reserve (the residue of the Sprinter trial cash raise) is dwindling. At the current cash burn there is probably 12 months remaining for the company to place its strategy on a firmer footing? Please correct this statement if I have miscalculated using the limited information at my disposal. A repeat of last year’s cash burn would take us to zero.

The recent comment about the expiration of Synairgen’s patents also raises concerns. I haven’t researched this yet. Any link about this would be gratefully received.

The current apparent inaction does not inspire investor confidence. Unfortunately, I have a commitment elsewhere at the time of the AGM. I am forming the impression that the CEO and Board will need to offer investors more than the vague promises we were given last year? It is high time for Synairgen employees to properly justify the high wages and expenses that are being paid for their current underperformance.

GLALTIs.

TommyD_19.

Just to add my very best wishes to you for a full recovery to good health. I hope that you will soon be well again.

Fruitsnveg.

Thank you for your usual considered response, which makes perfect sense.

My impatience with the apparent lack of progress this year is as much to do with my lack of knowledge about the pharmaceutical industry, and the time scale to bring a product to a trial, as anything else. I did expect a PT, or BP JV support for a trial to emerge earlier this year, as apparently did other investors?

On the positive side, all our results to date are analysed and have been widely presented. I look forward to an update on the progress made towards the commencement of small-scale company trialling during the second half of the current year. Perhaps the AGM will give us an update on the progress made to date?

ATB and GLALTIs.

Although, the current low level trading, and share price, are an irrelevance, it is disconcerting that the CEO and his executives have allowed the share price to decline to pre-pandemic levels. The latest twitter post was yet another mention of the recent ATS conference presentations, with photographs of Dr. Tear and the CEO in full flow.

The company has brought forward nothing new all year. A change in direction from one vague strategy to another equally vague game plan clearly doesn't hack it. The company has been re-presenting last year's data all year. The latest end of year statement with a rehash of the same information, and downscaling our strategy to company-led small scale trials clearly doesn't curry favour with the market.

One wonders what TFG is making of the CEO's underwhelming performance during the last fifteen plus months?

GLALTIs.

MrCosts.

As always, there is nothing to disagree with your comments. I was reflecting earlier that the CEO has well and truly parked the bus since Feb2022.

All our available data has by now been fully analysed and presented at a variety of relevant conferences. Apparently, there is no upcoming JV deal as some of us previously hoped?

Unlike you, I retain some optimism - as long as TFG are still fully invested, there is hope.

However, the arrogance of the company is disappointing:

The SVP (Communications) left the company last week. There was no mention on twitter or LinkedIn? We got to hear about it via Spacman’s post, and subsequently when Mrs Clarke’s details were removed from the senior managers’ page on the company website.

Similarly, the strategy that had been endlessly disseminated since last summer was suddenly abandoned? In its place, there are company financed small-scale trials with a view to optimising a future Phase III trial? (Shouldn’t this have been achieved in the preceding fifteen months?) In other words, all the repeated information, conferences attended, twitter/LinkedIn carousel etc have amounted to nothing!

Although I have no choice but to wait and see what happens next, or alternatively sell up at a massive loss, the CEO and his acolytes do not inspire much confidence at present. Perhaps, they will see fit to add something positive to their recent vague update at the AGM? Meanwhile the share price founders at pre-pandemic levels.

GLALTIs.

1. Dunk. Yes, Brooke's profile can be achieved from the website search facility. Note that the leadership team displayed under her profile is the old one which included Mrs. Clarke. When her profile is deleted the leadership group window reverts back to the updated one with eight staff, and excluding Brooke Clarke.

2. I read the sensible comments from Size82 and Fruitsnveg below earlier, and now see things differently. Occam's razor applies here. (When presented with competing hypotheses about the same prediction, one should prefer the one that requires the fewest assumptions.) Size82's explanation is most likely the correct one, although Spacman's theory also explains the facts. There will be an opportunity for those who need further clarification and reassurance at the forthcoming AGM.

I remain dissatisfied by the poor communication with investors over the last 15 months, and the retention of staff, whose (superfluous) roles have not been justified to investors since Feb 2022, but what can I do about it? I invested believing that this company would bring their trial to a successful conclusion, and they failed! Investors will either have sold and moved on, or remained on board believing in a future upside to the company? I am in the latter category, and will try to maintain a more objective stance in the future.

GLALTIs

Spacman is right about Brooke Clarke no longer featuring in the Senior Leadership team on Synairgen's website. Her profile on LinkedIn is as yet unchanged.

This is yet another example of the CEO's poor communication with investors. There is no real evidence that he has done much, if anything, to justify his salary since Feb 2022. His appalling New Year message spoke volumes IMHO, as did the recent abrupt change in "strategy". Perhaps there is more going on behind the scenes than meets the eye? Spacman's conspiracy theory has just gained some traction IMHO? LTIs will probably be the last to know if there is foul play afoot?

Djmmac.

I think that Spacman is suggesting a collaboration between TFG, the Synairgen board, and possibly some other IIs with a < 5% shareholding to achieve that 33%?

From the Synairgen website:

“In so far as the Company is aware, the percentage of the Company’s issued share capital that is not in public hands is 30.7%, which comprises the holding of TFG Asset Management UK LLP (formerly Polygon Global Partners LLP) and the directors’ beneficial holdings of 2.5%.”

IMHO, this is a highly unlikely scenario, although I agree about the low level of communication since Feb 2022.

As for Mrs Clarke’s position, I hope that she remains in situ. She and her team are doing a sterling job in promoting Synairgen’s profile. It gives us the image of a company that has a significant future! It now requires the CEO and the Board to take the necessary actions to ensure that this proves to be the case.

GLALTIs

Yesterday’s meeting was unnecessary. The consequences are dire.

The company were insufficiently prepared for the event. Some of the contributors were flying by the seat of their pants.

AZ’s judgement in arranging the event must now be seriously questioned?

This was well spotted by Brand yesterday. The company have officially released it on LinkedIn this afternoon.

How Immune-Boosting Medicine Could Save Lives In a Pandemic.

A veteran asthma researcher (Prof. Sir Stephen Holgate) pivots to tackle severe viral lung infections

(This article was produced for Synairgen by Scientific American Custom Media, a division separate from the magazine's board of editors.)

https://rb.gy/zylyb

The Synairgen LinkedIn/twitter messages continue to be prolific, as are our presentations at highly relevant international gatherings. All very professionally done. Synairgen do give the impression of being a down and out company, as some trolls claim.

It still needs one significant piece of news to achieve lift off. As time goes on though, we are increasingly becoming a “next year we will be millionaires Rodders” type of company. I have no problem with that, although it would be good to know what some of our execs are actually doing? At least Mrs. Clarke, and Dr. V. Tear are contributing well! GLALTIs,

The "Investor Meet Company" event was meant to be a function to attract the interest of potential investors. This is suggested by the title. Why those already invested perceive the lack of update during this event as bad news is questionable? The event's purpose was a quick catch up for those not already acquainted with the company. Any important update on existing news will come via the usual RNS channel.I am holding tight in anticipation of the latter. GLALTIs.

This is now available on the company’s website.

As anticipated, it concisely presents the relevant information gathered from the SNG018 and Activ-2 clinical trials.

https://synairgen.ams3.digitaloceanspaces.com/ATS-2023-SPRINTER-Poster-Final.pdf