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Picked up in Times:
https://www.thetimes.co.uk/article/biotech-firm-c4x-discovery-strikes-deal-with-sanofi-ztx5stt6q
"NXP002 Asia discussions : The Board is disappointed that previous business development activities in Asia have not reached a positive conclusion. A new business development consultant has been engaged to assess the viability of legacy discussions coming to a successful conclusion in the near to medium term."
I'd rather they work on the feasibility and speak to a different party about out-licensing. Clearly the other party weren't significantly interested or they would be on board by now. Especially given the current level of competition in IPF treatements.
In the last update Anne described the NXP002 'discussions' as having a disappointing outcome and that she had appointed a new business development consultant to see if anything could be salvaged.
How have you come to the conclusion that a price has been agreed?
You would hope so! But as ever here I'm not getting hopes up on that particular deal
Discussions still at 22nd Dec, for NXP002 in Asia in the half yearly report, so the deal is still a possibility, the fact it has changed from negotiations suggests the price has been agreed and it is other issues that are being resolved.
In terms of 'the market', it certainly feels like there are only a couple of types of people that form a market, they are either very short term or long term insti's who only come in when you've got form.
There doesn't seem to be any middle ground these days that helps build a share price. Its either unloved and low or blasted to a high valuation above its worth.
Why can't the market see this potential, I know there's many factors why we're at around 2.5p but at some point we'll be laughing just hanging in there until we are
Just listened to C4X interview about their licensing, they are not even at the stage NXP002 was at two years ago. Hence the low upfront payment.
NFX know what NXP002 can do and that it beats the current standard of care, plus it can be used in combination.
FX, imho serious talks went through till DG left. Its quite clear that it finished at that point as he left with only 5 days notice, which no-one is going to be able to hand over negotations in that time.
The RNS's from that point changed from saying 'negotiations' to 'discussions', which could have easily been occurring just nothing about closing a deal.
Shame.What would a deal like that have valued us at?
Pity the old guard couldn't reach an agreement with whoever the 'partner' was. They must have been pretty keen about NXP002 in order to keep discussions open for a whole year...unless, of course, they never really did keep discussions open and told the BoD to do one as soon as the leak occurred. However, I'm sure that didn't happen because we were told the discussions were ongoing and deceiving investors on that level would be utterly unthinkable.
I wonder why we never got to find out who they were talking to? Surely it doesn't matter now if those discussions have come to a disappointing conclusion.
It certainly shows the possibility, I can't quite figure how far along the process C4X are compared to NFX, and whilst they have other products in the mixer the fact that they are valued at £100m vs. NFX £13m shows a level of undervalue here.
Was going to comment on that deal this morning as it would have been a similar deal we would have expected for NXP002 last year.
I see C4X signed a 400m euro deal with Sanofi for their oral IL-17A inhibitor programme today.
Whilst they are looking at skin treatment, it is worth noting that Tranilast is also proven to inhibit IL-17A and its role in fibrosis.