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Still not the RNS I was expecting, but good to see they are moving forward, and this kind of payment not just keeps the lights on, but funds the required work on the other cocrystals and other development work.
The trouble with smaller pieces of news is that there are many traders with their eyes on this, so any rise gets sold into, going to take bigger news to shift this, but it is coming.
At least with this we can see progression, would not want to be on the sidelines when the big news drops, as the MM's will profit whilst those in the sidelines will pay multiples.
Aberdeenman
Chablard- Should Oxilio exercise the option, Nuformix will licence its patent estate and know-how on NXP001 in return for a significant upfront payment and additional development milestones and a royalty on net sales, capped at £2 million per annum.
Significant upfront payment and Additional milestone payments on top of Royalty payments.
All on top of what we thought was lost after the Chinese fiasco.
I would say it proves how hard the BOD are working at getting deals done.
Each to their own but investing for big gains is all about spotting innovation at the earliest stage possible.
chablard, can I ask your current position with regards to this stock as having read your previous posts, you seem to have nothing but criticism for the company. Also if a company offered you an upfront payment and royalty for an avenue that was not previously considered or core to the business, what would you say? Knowing that this would enable NFX to focus resources on getting the main deals over the line. I am interested to hear your reply..........
. Oxilio is focused on developing a therapeutic with the potential to treat patients with various cancer types representing a global therapeutics market estimated to be more than $130 billion
royalty on net sales, capped at £2 million per annum
Hmmmm
As I have said in an earlier post, I believe that the market / investors have misinterpreted this RNS and seen it as a cheap 'big' deal as opposed to an additional deal. I have taken the opportunity to double my holding on the dip, all trades showing as sells, thanks MMs ;-)
Disappointing to say the least after finally getting some news that will sort the cash situation out for a long time
Nonsense
MMs using the spread to disguise all the buys as sells, Ask has moved up from 3.52p to 3.67p (now) they don't want to sell shares down here, they want to collect them, as they know what this deal is, which IMHO has been completely missed by the market, although people happy to pay 4.3p early on, now you can buy for 20% lower and at the same price as yesterday, despite this additional revenue stream being delivered by the new CEO. This proves that he can make deals and is a precursor to the bigger news I believe.
IMHO, It feels to me that the MMs are trying to keep it down here, any decent buying and this will fly, the MMs have done very well today. I think that alot of people have misunderstood the RNS and believe this is the 'big' deal whereas this is an additional deal which looks like it has been tied up very quickly and delivered an additional revenue stream to the company.
Always a smile and song, eh Chab!! Lol.
There seems to have been a certain vindictiveness with recent selling. Keep the price down at all costs. If sellers had held off till say Monday it is likely they would have got a much better price. The selling has been quite relentless recently. Do they know something that we don’t, or is it something else?
This is interesting though: "NXP001 has been developed by Nuformix, to date, with the aim of improving its use in the cancer critical care setting, particularly with regard to chemotherapy-induced nausea and vomiting (CINV). Business development activities continue with this focus alongside the option agreement for Oxilio to explore its potential in treating cancers."
So the licensing deal agreed is for a completely new purpose - the purpose seems to be to actually treat the cancer itself rather than the side effects of treatment which has previously been spoken about - shows the flexibility of the tech and could be huge opportunity not included before! Also removes the threat of another placing whilst the main deals are progressed to completion
Not to surprised at the market reaction to be honest. This RNS addresses short term funding issues and that about it. No indication of "significant" up the front payment should the option be exercised. The cap of 2 million seems derisive considering the potential size of the market. Am hoping that this is a bit of a distraction and we have bigger fish to fry and need to concentrate more on NXP002 and NXP004.
It'll keep the lights on. Nothing more
As you were lol. Heaven forbid anyone larger your run of mill private investor, misses out on a 5% rise in the share price!!
Back up later today imo.
Hopefully we'll get some kind of podcast too, like we did for the results.
FX interesting point you made about the rns talking about cancer treatment rather than CINV. Completely opening up to a massive market bigger than NXP002
Interesting and very good that it’s a 6 month option as well. Quite an ambitious timescale to make a decision for them and also fundraise so they can pay. But at least it stops anything dragging out
As you say, not alot to be found about Oxilio but one of the Directors, Dr Simon Yaxley, appears to have been associated with the setup of a company called Premier Research in 2004. They still seem to be going and I found an article linking him to acquisitions made made by that company as recent as 2017
Good to have some news. Can’t find much about Oxilio other than they’ve been going for just over a year.
This would potentially overcome the key hurdle in drug repurposing, patent consideration-induced market exclusivity, as well as providing an accelerated route to the clinic.
Dr Chris Blackwell, Executive Chairman, said:
"This agreement allows Nuformix the opportunity to benefit from the upside of a significant global market opportunity whilst realising short-term revenues. Furthermore, it demonstrates our commitment to explore and leverage value creating opportunities for all our pipeline assets. We look forward to working with Oxilio on this collaboration."
Dr Simon Yaxley, Co-Founder and Director of Oxilio said:
"This collaboration with Nuformix allows Oxilio to continue the development of NXP001 as a potential new treatment in the battle against cancer. We are excited by the opportunity of accelerating our science towards our first clinical trials through this collaboration and we look forward to working with the Nuformix team to realise the opportunity" .