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Sareum Holdings PLC - Cambridge, England-based drug developer for cancer and autoimmune diseases - In the year ended June 30, pretax loss widens to £2.6 million from £1.7 million a year before. No revenue is recorded in either year, but in the previous year it brought in £171,000 in other operating income, with none recorded for financial 2022. Says it will discuss the future of SRA737 with partner Cancer Research Technology Pioneer Fund. Earlier this month, GSK PLC subsidiary Sierra Oncology Inc said it intends to return the rights for the SRA737 cancer treatment to CPF.
"We close this financial year with growing excitement around the potential for our portfolio of differentiated TYK2/JAK1 inhibitors. Our lead programme, SDC-1801, is a TYK2/JAK1 inhibitor which we believe has significant potential for superior efficacy in autoimmune disease compared to oral therapies currently available and in development," says Chief Executive Officer Tim Mitchell.
It hopes to begin clinical trials for SDC-1801 in healthy volunteers in the UK this year, subject to regulatory approvals, and a trial for skin condition psoriasis is planned for 2023.
Current stock price: 144.00 pence, down 0.7% in London on Monday
12-month change: down 55%
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