Sareum continues to make rapid progress with its clinical plans for SDC-1801 (lead TYK2/JAK1 kinase inhibitor) and has announced the dosing of first participants (Phase Ia study) just a month into receiving regulatory approval in Australia. The Phase Ia study is a randomised and placebo‐controlled trial evaluating the safety, tolerability, pharmacokinetics and pharmacodynamics of SDC-1801 in healthy adults, which is expected to be conducted in three parts. The data from part one, a single ascending dose across six cohorts of eight patients each, are anticipated in H2 CY23. Sareum intends to provide full safety data from the trial in H1 CY24 that, if favourable, will be followed by a Phase Ib study in patients with plaque psoriasis. We see the swift start of dosing as a sentiment booster for Sareum’s clinical development plan and expect Sareum might need to raise additional funds before end-CY23, given the anticipated rise in burn rates (c £0.5m/quarter historically) with the announced trial beginning.
