Sareum’s annual general meeting (AGM) on 16 December provided key updates on its upcoming business plans. Final toxicology and safety studies for lead asset SDC-1801 (which is essential in applying for an exploratory clinical trial authorisation, CTA) have been completed, with study data expected to be finalised by Q122. CTA filing remains on track for mid-2022. The funding situation has been bolstered with the most recent fund-raising (£1.63m on 16 December) and Sareum estimates the pro forma cash balance (c £6m) to be sufficient to take SDC-1801 through Phase Ia clinical trials and complete preclinical studies for SDC-1802. A key highlight of the AGM was the board’s decision to consider undertaking a share consolidation in 2022 (terms of the consolidation will be discussed at an extraordinary general meeting (EGM) planned for early 2022). The intention is to reduce the number of shares outstanding (currently 3.37bn) with the objective of generating interest from institutional investors.
