Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
"I didnt expect there to be any announcement of them filing for that status"
Without wanting to seem argumentative that just doesn't hold water. The are quite happy to tell the world that they intend to apply for such status but then don't seem to want to tell pi's whether they have done so. Seems very picky about what they wish to divulge even though Dan appears to enjoy a chat on Telegram.
ATB
Good link Mars, there is a lot of money available for the right deals - does that include ours?
I also agree that the orphan status appeared from Dan's TG discussion to be a necessary condition for making progress. I could see from the Pharma's perspective why they would require this form of elementary 'free' filtering of potential candidates. I didnt expect there to be any announcement of them filing for that status, just as they dont announce in advance when they file patent claims in US/Japan etc. I would hope for an update in the summer if the orphan status is awarded & it would be natural then to set out the path ahead for the rest of the year. I dont have any expectation of news until then.
Pre-AGM all rumour pointed towards orphan status being the key to any deal. So either that was all BS and they haven't submitted it or they don't want to announce that they have. I don't know the answer to that.
What is remarkably strange though is that there is a deafening silence from a number of individuals who would normally be very quick to pour cold water on anyone suggesting that things might not be moving along. Again, I have no idea why. Hopefully they are all in good health. It just seems unusually strange that they don't have anything at all to say.
One question does arise is what keeps you so busy you cannot multitask ie pursue orphan status in addition to outlicensing. A huge part of the process is due diligence but providing data to be analysed by the counterparts does not create that pressure there are periods of high activity and then awaiting the outcome from activity from the other side of the fence. There may be other requirements that exist but full blown involvement is required looking at alternative results or legal agreements. Wishful thing I know
We certainly would but the reply from donttelltoomuchTim indicates they are too busy dealing with licensing to pursue the orphan application atm
Mars,
Isn't that what we all believed the board to be doing for the last year or more?
It would be nice to know who exactly they have talking to.
PWC need to tell AZ
“Biotech acquisitions to fend off patent cliffs: Large-cap pharma companies will continue to face patent cliffs and gaps in their pipelines in the latter half of this decade and will look for M&A opportunities to achieve their growth plans. Small and midsize biotech companies that can fill in pipeline gaps in the back half of the decade will receive significant attention in 2024. However, the threshold rates of return which these acquisition targets must clear are now higher because of higher risk-free interest rates; as such, the competition will be fierce for truly innovative targets whose clinical differentiation is backed by good data.”
https://www.pwc.com/gx/en/services/deals/trends/health-industries.html
Maybe they need to tell the pharmas
EY 2024 Pharma M&A
“M&A targets: oncology and rare diseases
The huge growth potential of the oncology market is reflected in companies’ M&A spending over the past five years, with oncology dominating industry acquisitions in both value and volume terms…..
With legislation such as the IRA unlikely to affect the price point for orphan drugs, companies specializing in rare diseases have become significant M&A targets, “
https://www.ey.com/en_gl/newsroom/2024/01/deals-are-back-surge-in-life-sciences-m-a-fueled-by-sector-s-capital-reserves-and-quest-for-new-revenue-growth
Wrong message board mate.
You don't seem to post much anymore, everything OK? I miss reading your contributions to FCM especially!
FX that was true however one can only guess that they were advised by pharmas they were talking to, to prove the duration tests as inhalation was a new process for forms of Tranilast and this completed the data set. Of course increasing data sets would have taken time during the process which we have been told is 6 months +
I thought Gooding was brought in as a Business Development Consultant back in Mar 2022 (see RNS dated 28 Mar 2022).
Was that not when they decided that things were at a point where it was feasible to start approaching potential partners?
Thought I would check back to see if I could identify when the co thought they were ready to recommence discussions. The first clear notice and the last separate update on NXP002 was 18th May 23. Since then we have had patent updates with notice that discussions are ongoing. Data sets have had to be increased. There would have been some initial foraging before the process started and delays with summer breaks but if things started moving in September it should mean activity is in the final phases possibly
“Following the success achieved in these studies the Company's next steps include:
· Expansion of the current studies to include tissue from further human IPF tissue donors to demonstrate the robustness of NXP002's anti-fibrotic response alone and in SoC combinations in multiple patients; and
· Formally commencing the NXP002 partnering process now that Company has the minimum dataset required to support NXP002's development as an inhaled treatment for IPF, for use alongside SoC's.
Commenting, Dr Dan Gooding, Executive Director of Nuformix, said: "I'm absolutely delighted with the data we've generated over recent months - all the results we've achieved are as good as we could have hoped for and are the first results from advanced 'close to patient' IPF and inflammation human tissue disease models. The inflammation data was perhaps expected given past results but provides further support of NXP002's potential to deliver increased performance on top of existing standards of care. However, the positive duration of action data is a first for the NXP002 programme and allows the Company to discharge one of the programme's last remaining development risks that hasn't previously been addressed.
"The combined data gives us great confidence in NXP002's potential as an inhaled therapy for IPF treatment and allows the Company to tell a more complete pre-clinical story to potential licensing partners for the first time. We will now look for opportunities to share this important new data with key players in the rare disease and respiratory disease sectors as we explore all opportunities to progress the NXP002 programme."
OK I have emailed them. the @investor-focus part means that it is a generic PR company employed will be answering so this is not an ideal way to communicate with the company. But better than nothing.
Soup is the most informed and balanced investor I have seen on the LSE forums over the last 6 years.
He is very much appreciated here and I also hope he is ok and has just gone on snooze mode as there is not a lot happening here!
Yep. Hope so too.
"Would you be so kind as to inform this investor whether you have yet applied for orphan status?"
I can't see why peeps find the above ambiguous.
The simple answer to that question is either "yes it has been applied for" or "no, we haven't applied for it yet."
The answer I received was right out of the nfx answer book.
Questions.
When asked about information from investors relating to the sp.
Answers
Tell them sfa and use as often as possible when constructing an rns the words "if" "perhaps" and "maybe". When it comes to announcing any payments to nfx, describe them as significant etc even though they are derisory .
ATB
Yes or no
No Soupdragon for some time now. Hope he is okay.
Nuformix@investor-focus.co.uk
When I get a moment today I will email them with that exact question. If I do not get any answer then I will withdraw my investment - simples.
Good luck with that!
Https://www.gov.uk/guidance/orphan-medicinal-products-in-great-britain
The link above tells how to apply for Orphan Drug Status. A bit of googling brought up companies that will do the application for you with turn around times (decision) of around 30 days.
So we really need to get from NFX the status of the application. Perhaps we could approach the company again with a more closed questions:
What date did you apply for Orphan Drug Designation and when are you expecting to find out the result of the application.
I think Mr Tim might avoid giving an answer to this which will show us that the application has either failed or that they have not applied yet. But either way "NXP002 is a likely candidate for Orphan Drug Designation”, but it has not been granted this status yet." simply does not cut the mustard!
Nice post, you'd like to think that these discussions will be coming to some sort of conclusion soon. Also if they wasn't interested then it would have concluded months back surely.
It's the same old same old Peverill.
Zero transparency for shareholders. It feels like they are afraid of letting slip that they have applied for orphan status for fear of garnering genuine interest that could actually drive the share price up. Its hard to believe they haven't actually done it yet given it costs nothing and is made out to be so important for striking a deal.
It makes you wonder who they are actually talking to. Whoever it is, they can't have very deep pockets because if NXP002 has the blockbuster potential they claim it has then it would still be a bargain if someone bought the whole company out for 10p per share.
Why wasn’t the Orphan application made earlier,they have been in talks a long time with whoever it is,AZ is my guess,it can’t be that important as the licensee/owner could have applied for it themselves.More a delay tactic by NFX until they can find someone actually interested in taking it.Dan gets a bit too ahead of himself for my liking,I thought it was in the bag the way they were talking.
"I wonder why such a vague unhelpful response was given "
Par for the course I'm afraid.