Sareum the top riser after patent approval in the US
The SDC-1802 TYK2/JAK1 kinase inhibitor programme, which is in pre-clinical development, is a treatment targeting cancer.
The company’s technology is now patented in all major territories, including Europe, Japan and China.
The company said the delay will allow discussions to continue with its largest shareholder over a potential transaction that could be “an extremely value-enhancing opportunity”.
The adjournment will align with the company’s requirement to hold an extraordinary general meeting to consider certain resolutions relating to the migration from the UK-based CREST Central Securities Depositary to Euroclear Bank of Belgium for the electronic settlement of trading in the company’s ordinary shares. The company needs to get votes from shareholders representing at least one-third of the company’s shares in favour of the resolution, otherwise, it is back to the eighties and the use of paper-based share certificates.