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So it's still in the public domain then!
Any new CEO would have a long notice period unless they're out of work or freelancing, have a feeling AR will become interim for a bit on Anne's departure
Cool, although not directly accessible from the website, I.e if you didn’t know it existed you wouldn’t be able to find it.
Filter, AR or one of the other two would have to take the position otherwise the company will likely be suspended.
Soup a plc is required to have a minimum of 3 directors which NFX has even when AB leaves, there is no specific requirement to have a CEO so no suspension necessary
Mars, what about Nuformix tech, that would have no directors and is the basis of income for the plc.
It would have to be struck off companies house, either by the company themselves or by companies house.
Since all incomes to the plc are from NFX tech how would that leave the plc?
Hence, it’s an easy solution for AR to become temp CEO, just like Blackwell did for the same reason. Blackwell always stated he never wanted an exec role, but had to do it.
A private ltd co needs 1 director. There is a good chance AR will adopt the role of CEO but with such a small company it will be clear who is in charge as the Chair would be the natural choice. I would not say unnecessary but not essential
Thing is when results are made public either co will be sold ( no new CEO required) or they will be queuing up for a job which will eventually be about collecting royalties so nice lifestyle role. We know 002 already shown very positive results and 20 days in.
This CEO position must be the easiest in all of pharma, everything is outsourced, even finding deals after data as they're going to employ consultants. Anne has had a very profitable year
Noticed a little excitement over the last couple of days. What was that all about?
ATB
Nothing Chab, just newbies Getting excited over a 5% rise, apparently big prints after close, all that sort of stuff
Excitement's over. Back to sells
I'm not feeling it just yet Mars.
Hopefully soon. But if we get to mid December without hearing anything then I'll probably have lost all hope by then
Might be a good sign if results trigger negotiations. We know everything was on schedule so we know results are due if we have not heard anything then that can only mean negotiations are underway
If results are in they will have to rns it, plain and simple. Good, bad or indifferent.
ATB
There are circumstances when the results would not be issued until…Not if they were requested as part of a previous negotiation and are part of an nda linked to a preferential deal ie we will proceed if these results are forthcoming or the company felt the results in the open market would compromise negotiations eg 004. Alternatively you may be right.
Mars, you may have a point, they were expecting results at the end of Q3 so it would work with your theory.
Possibly Mars - From the letter RNS
As previously disclosed, we are expecting important readouts on the progress with NXP002 and NXP004 later in 2021 and positive outcomes on these will trigger licensing discussions with key players. Should this be the case, we will engage expertise in business development to pick up these projects. Even without any short term licensing income, the Company is funded through to the first inflection point for NXP002, to complete the research on NXP004, license NXP001 and to fund licensing discussions for a sufficient runway after getting data. As a Board, we are committed to navigating the Company through the next six months and beyond to achieve the best outcomes for our investors.
I guess if we are told they are going to hire a salesperson, that would mean that data was positive. Then we would be left in limbo until those discussions were completed and agreements signed.
As we have found in the past these can go on for a very long time.
They shouldn't be delaying the announcement of any data test results from shareholders or the market in order to negotiate a deal.
It would mean that the other party had inside knowledge of price sensitive information that could be to their advantage if it delayed/prevented the market from increasing the valuation of the company in line with those results.
Entry into negotiations with an interested party is also price sensitive, in my opinion. That too should be made public, albeit not through a Times article with fantasy figures.
Fair point. So then that leads to the question that since the published timetable on the website has q3 for inhaler feasibility and first inflection point, and the company said in the Q&A there was no delays. Should we have heard by now?
Did they not change it to Q4 first and then say later, in response to a question in the Q&As that there were no delays? They could have been saying that there have been no further delays since their previoud update?
Is it also possible that the inhaler results are part of the overall NXP002 package. They may be known but there is no point announcing it until all the data is in because it might rendered worthless is there is a problem elsewhere? That would be valid