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@Soup Glad you are well and thanks for your thoughts.
Jiving - 'During his Telegram exchange Dan gave no indication he intended to inform shareholders when an application for orphan status was made.' You are quite correct - Dan did not say that.
My three Telegram transcript posts on the 28th Feb were the verbatim comments from Dan ( I still have the screen grabs covering all his comments) and does not include saying when Orphan drug submission applied for.
My 'Newsflow' post on 29th Feb was a listing where I erroneously included the Orphan drug submission in the incorrect section, thereby incorrectly/ inadvertently inferring that Dan had said it. It should have been in the lower section of possible additional newsflow.
Apologies.
Good to see you back Soup & relieved that your absence was not due to illness!
Regarding patent filing RNSs, there is not a consistent pattern. For example the most recent Japanese patent grant for NXP002 (RNS 23.10.23) was filed in August 2019 & that was not RNS'd at the time. During his Telegram exchange Dan gave no indication he intended to inform shareholders when an application for orphan status was made & I for one was not expecting one.
Thanks for the input Soup.
Good morning Peeps, I'm all good just taking a back seat as there isn't much to say at the moment really.
That said, a few things to add following FX post on a few items, which is always worth questioning.
NXP002 EU patent - From what I can tell, the have issued the 'Intention to Grant', this then starts a 4 month period for paying fees, submitting translations, submitting any requested modifications etc.
Since the Intention to Grant was dated 2 Feb, that would place a Grant date at the beginning of June.
I think some of the £160k placing monies will be needed to pay for some of the above.
Orphan Drug Designation submission.
Again I think some of the placing monies will go to this as they will probably have needed a specific report(s) writing to bring together all of their data etc. Whilst the application is free, it is the work required to get your submission spot on that costs the money.
The EU review process is set out on their website, so yes you can submit at any time, it won't be reviewed until its appropriate slot. So, those submitted up to I think 27 March don't start the review process till 22 April, with results in July.
Just to pick up on Jivings point about the company RNS'ing the submission, I would expect to see that, as yes they previously have notified when they submitted patent filings. See NXP004 patent filing RNS.
Reading the EU orphan designation website, they recommend a pre-app meeting at least 2 months prior to submitting. So when they say they want to start immediately, that doesn't necessarily mean submitting immediately.
NXP004 patents
Like FX I don't know why they haven't RNS'd the Japanese patent approval, since they did so with NXP002.
Ongoing process, I personally think its tied in to a sale of the company as a whole, so they are on hold at the moment on that.
New plan and company presentation.
I think they should issue a 'Business Update' rns to outline the above changes, and possibly a new presentation.
But I think they are looking to sell the company as a whole so aren't bothered about drumming up new investor interest. Its binary, a sale will be at a certain price regardless.
Could also be an after market deal which will be reported in the am
Should have been down 5 to 8% today so the up is 13 to 16%
Something has caused this to be blue is it an off market deal mms do not mark stocks up for no reason.
Agreed Chab,
8% rise when the biggest and last trade of the day was for 0.001808p
Absolute nonsense!
That would be on that 12 pence worth at .22 the mm's trying hard :.)
Nonsense marking it up blue today.Means sweet fanny adams
"Are you sure you're looking at NFX?"
Strangely yes when I refer to NFX I was actually looking at NFX. It started at 0.18 was was up to 0.22 early doors, it then dropped back to 0.18.
PS I also meant to say that if the Ctte for the orphan application raises questions does the stock answer take priority ie the company is focusing on licensing discussions and will the orphan answers have to wait.
Soups last post was 13/3, the day before the last RNS from the co. He is not dealing with the licensees is he?
FX I see Olders post was 29th Feb which was only about 7 weeks ago. I read through his other notes at the time, co seemed keen to submit the orphan application at that point with an eta of 90 days so the end of May, that allows for questions from the Ctte. 7 weeks is not a long time for any govt dept so it may just require patience.
The only comment I have, is the stock answer from the co atm gives the impression that the only priority is liscensing discussions which suggests they are fully occupied. If the ctte raises questions on the application that extends the approval from 60 days to 90 days. I don’t think there is any doubt that IPF is a rare disease so it might be a cart and horse issue.
Does anyone else have an explanation for this?
Where is Soup?
"I do notice however a nice rise this morning, someone is interested in buying into NFX :)"
Are you sure you're looking at NFX?
Unless I'm missing something the bid is 0.18p and the ask is 0.22p - down -2.7% with a total of 112,466 shares traded (about £225)
I did not get a response, yet.
I do notice however a nice rise this morning, someone is interested in buying into NFX :)
Back on 29th Feb, OlderButWiser kindly shared a rough transcript of the communication as presented to the Telegram group in which the following points were highlighted:
"• EU patent for 002 is in process of finalisation and will be announced imminently.
• Orphan drug status application submission.
• 004 patents progress and update
• The NEW plan mentioned by Dan, whatever that is, to promote company based upon BD progress and the massive potential (his words) they see.
• The company will update with company presentation soon."
Has ANY of this actually come to pass?
If the EU patent was supposed to be in the process of finalisation, why has nothing been announced in the nearly 2 months since? They could have been over half way through the orphan status process in that time.
Why does the company have nothing to say?
Transhaven, did you get a response to your email?
The point is they can set forth a plan of action - ie we are going to solidify our patent portfolio by taking additional filings, without being obliged to inform shareholders along each step of the way. Dan suggests applying for orphan status is necessary for 002, but did not indicate he would inform us when NFX applied (as with patent filings), & I for one leaving the discussion, had no expectation one would be forthcoming. Storm in a tea cup, nothing is happening till the summer........
I know they are not obligated to supply such information but you are missing the point. If they are so keen to tell us they are going to apply where is the harm in answering a simple question on whether they have done so or not.
Anyway, we are going round in circles . Some believe it's odd they won't answer yes or no and others think it's fine to mention it then clam up about it.
Dan went on telegram solely to schmooze and get the AGM resolutions over the line,and the money raised was for wages,not some further work on the assets.Its a waiting game for deals.I can’t see the orphan drug route holding sway, if someone is going to sign or buy the assets,they will.They can always apply for that themselves.They have supposedly been in talks a while,so what’s the hold up,they either want them or they don’t,NFX aren’t in a position to play hard ball.
If you want to know Dan's rationale FFX thats a question for him not me.
"No Chab there is no obligation on them to inform shareholders every time they file for a patent, orphan status or a grant."
By the same rule Jiving, If that really is a Nuformix representative then why do they feel obliged to share the company's intentions via a limited confab on Telegram?
Replace first bit with
t me /
tg link: *************nuformixnfx
No Chab there is no obligation on them to inform shareholders every time they file for a patent, orphan status or a grant. They haven't in the past so why should they now?