Sareum Holdings


Market Cap£192.1m

Last Close 5.7p

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, out licensed to Sierra Oncology (Sareum holds a 27.5% stake of the economics of the licence agreement) and the de-prioritised FLT3+Aurora kinase.

More Sareum Holdings content >

Investment summary

Sareum’s lead asset SDC-1801 is inching closer to completing its preclinical toxicology studies, although the decision to pursue a capsule alternative to the original suspension formulation, at the cost of a further delay in the clinical trial application (CTA) filing (now expected mid-2022), comes as a surprise. Management asserts that the new formulation adds value to the programme (removing the need to develop capsules at a later stage) and is supported by £4.6m of funds raised in calendar Q221/Q321. While we see merits in the strategy, continued delays may concern the market. Encouragingly, out-licensed asset, SRA737, seems to be gaining traction after Sierra Oncology’s decision to reassess it in combination with other targeted therapies. We expect that the next few months will be crucial for Sareum.

Content on Sareum Holdings
Sareum Holdings – SDC-1801’s clinical plan modified
Healthcare | Update | 23 November 2021
Sareum Holdings – Fund raising to cushion pipeline risk
Healthcare | Flash note | 20 August 2021
Sareum Holdings – Edison Open House interview
Healthcare | Edison TV | 4 May 2021
View more
Register to receive research on Sareum Holdings as it is published
Share price graph
Price performance
Actual (11.6) (18.6) 280.0
Relative* (12.7) (19.5) 229.0
52-week high/low 9.2p/1.3p
*% relative to local index
Key management
Tim Mitchell CEO
John Reader CSO
Stephen Parker Non-executive chairman