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Sareum Holdings (AIM: SAR)

Last close As at 17/04/2024

GBP0.21

▲ 4.00 (24.24%)

Market capitalisation

GBP20m

Sareum is a UK-based drug development company, specialising in small molecule kinase inhibitors. Its flagship programmes are its pre-clinical TYK2/JAK1 inhibitors, SDC-1801 for autoimmune diseases and SDC-1802 for cancer. SDC-1801 is undergoing advanced dose finding and toxicology studies with a target to file a CTA in mid-2021. Other programmes include the CHK1 inhibitor SRA737 (Sareum holds a 27.5% economic interest), previously out licensed to Sierra Oncology and the de-prioritised FLT3+Aurora kinase.

Latest Insights

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Healthcare | Update

Sareum Holdings — A decisive period ahead for SDC-1801

Healthcare | Flash note

Sareum Holdings — Positive clinical step forward in SDC-1801

Healthcare | Flash note

Sareum Holdings — SRA737 – new partnership to kick off the year

Healthcare | Update

Sareum Holdings — SDC-1801 embarks on clinical journey in FY23
Sareum Holdings_resized
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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Arron Aatkar

Associate analyst

Key Management

  • John Reader

    CSO

  • Stephen Parker

    Chairman

  • Tim Mitchell

    CEO

Balance Sheet

Forecast net cash (£m)

0.5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (4.7) (61.7) (79.5)
Relative (5.8) (63.5) (79.5)
52 week high/low 142.5p/10.2p

Financials

Sareum Holdings’ H124 results highlighted the company’s swift progress for lead asset SDC-1801, since gaining regulatory approval in Australia to start human studies in mid-CY23. SDC-1801, a TYK2/JAK1 inhibitor targeting the autoimmune space, has reported a good safety profile to date and top-line data for the ongoing Phase Ia study are expected in Q2 CY24, a key catalyst for the company. The TYK2 class’s safety and efficacy has been validated by the likes of Sotyktu and TAK-279, and SDC-1801’s dual inhibition may provide differentiation, in our opinion. Funding, however, remains an overhang (period-end cash of £0.4m; operating loss of c £2.5m in H124) and will likely dictate the timing/pace of the Phase IIa study in psoriasis patients, currently planned for end-CY24. We expect the recent £2.3m capital raise and upcoming tax credits (£0.7m) to offer some headroom but anticipate the need for further funds in CY24.

Research

Flash note

Healthcare

Sareum Holdings — Positive clinical step forward in SDC-1801
Sareum Holdings_resized

Flash note

Healthcare

Sareum Holdings — SRA737 – new partnership to kick off the year

Healthcare

Update

Sareum Holdings — A decisive period ahead for SDC-1801
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Thematics

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