Sareum Holdings (SAR)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

10.75p
   
  • Change Today:
    -3.75p
  • 52 Week High: 142.50
  • 52 Week Low: 10.00
  • Currency: UK Pounds
  • Shares Issued: 71.76m
  • Volume: 7,622,267
  • Market Cap: £7.71m
  • RiskGrade: 594

Sareum confident despite recent setbacks

By Josh White

Date: Friday 16 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Autoimmune and cancer-focussed biotechnology company Sareum said in an update on Friday that it remained "confident" despite some recent setbacks.
The AIM-traded firm, which was holding its annual general meeting, said its potential autoimmune therapy SDC-1801 focussed on psoriasis, did not have its clinical trial authorisation approved by the UK Medicines and Healthcare Products Regulatory Agency (MHRA).

Chairman Dr Stephen Parker said the company provided a "robust" preclinical data package to support the clinical trial application, in collaboration with several "world-leading, internationally-recognised" contract research organisations.

"The MHRA has indicated that it requires an additional review by the UK Good Laboratory Practice (GLP) Monitoring Authority of part of the pre-clinical data included in the application to approve the clinical study," Dr Parker told shareholders.

"Sareum and its advisers have sought additional clarification from the MHRA and UK GLP on the next steps.

"In parallel with seeking clarification with the MHRA, the company is also assessing regulatory opportunities in other countries."

Sareum said it remained "committed" to SDC-1801, and was focussed on finding the "quickest and clearest pathway" to obtaining authorisation to commence clinical studies for the asset.

Its cancer immunotherapy SDC-1802, meanwhile, was still undergoing translational studies needed to define the optimal cancer application before completing toxicology and manufacturing studies.

Dr Parker said planning for those studies would incorporate what the company had learned from its experience with SDC-1801.

Finally, on its licensed selective Chk1 inhibitor SRA737, Sareum noted that GSK subsidiary Sierra Oncology told it in October that it intended to return the rights to Sareum's co-development partner, the CRT Pioneer Fund.

The firm said the SRA737 licence agreement had a 90-day notice period for termination, and so it expected the rights to be formally returned in January.

Sareum said it was evaluating the potential development opportunities for the asset with CRT.

"In conclusion, the board believes Sareum has a strong pipeline of kinase inhibitors which have the potential to provide great benefit to patients," Dr Parke said.

"The company is committed to advancing SDC-1801 into clinical development and is focused on finding the quickest and clearest pathway to obtaining authorisation to commence clinical studies for the asset, whether it be in the UK via the MHRA or other countries.

"The company also remains confident in the potential for SRA737 and now has the opportunity to be more closely involved in planning its future development."

At 1628 GMT, shares in Sareum Holdings were up 3.57% at 72.5p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Sareum Holdings Market Data

Currency UK Pounds
Share Price 10.75p
Change Today -3.75p
% Change -25.86 %
52 Week High 142.50
52 Week Low 10.00
Volume 7,622,267
Shares Issued 71.76m
Market Cap £7.71m
RiskGrade 594

Sareum Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
44.31% below the market average44.31% below the market average44.31% below the market average44.31% below the market average44.31% below the market average
14.81% above the sector average14.81% above the sector average14.81% above the sector average14.81% above the sector average14.81% above the sector average
Price Trend
97.6% below the market average97.6% below the market average97.6% below the market average97.6% below the market average97.6% below the market average
92.98% below the sector average92.98% below the sector average92.98% below the sector average92.98% below the sector average92.98% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sareum Holdings Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
17:08 426,000 @ 10.75p
16:38 200,000 @ 10.63p
16:29 20,000 @ 10.84p
16:29 20,100 @ 10.84p
16:27 25,000 @ 11.00p

Sareum Holdings Key Personnel

CEO Timothy J Mitchell

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