The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Thanks again Older.
The comment about reprofiling is important imho. Drug companies want to know that they have ownership of a product and its IP, this is naturally harder to pin down with repurposed or reprofiled drugs. Hence the desire of secured IP and Orphan Designation which, as I mentioned earlier, provides product protection for 10 years.
7. Dan asked for shareholders to vote for the agm resolutions.
8. Nxp004 situation asked about and Dan said ‘patent things going on and that an update on that very soon. But that nxp002 was main focus’.
9. Someone asked whether they are confident deals for 004 ad 002 will be achieved. Dan said ‘We all believe it’s absolutely worth pursuing. We know everyone and have kept our powder (dry) learning what we’ve needed to. And agreed that they have definitely achieved a lot of groundwork with the potential partners for 002 which will make closing a deal easier when we achieve orphan status’.
10. Someone asked whether Dan was able to say anything about funding runway. Dan just said ‘Obviously keeping things lean and focused on moving the company forward’. (I assume that would be price sensitive information and he could say nothing more)
11. Apparently ‘Applications for orphan status are free of charge’ but of course there will be some time involved by NFX to collate existing data into the required structure and submit.
That’s all folks!
So in short we should expect a few RNS’s and company presentation, plus agm, in the short term with orphan status within 90 days or so. Deal/s thereafter?
• There have been some massive failures in IPF. And there will be more. Drug companies have focussed on targeted therapies. And all will fail and continue to fail. We (the scientific community) are realising that IPF is not going to be a single target disease. Look at talks in the public domain by people like Prof Athol Wells – its complex disease with multiple codependent pathways – think of it like cancer and drug resistance. So the whole of pharma is kind of going ‘Oh sh*t – we spent billions and this isn’t working – what do we do now?’ And there isn’t an answer. Our answer is ‘well the only drugs that have shown clinical efficacy are multi-target drugs’. What you need is better multi-target drugs. So that’s our pitch. But it’s very counter-intuitive. But the fact we have inhalation as a delivery route and can speak about multi-target activity is I think a good thing. So this is what we are hoping to leverage in our story. The fact that we have something in inhalation that is also NOT single target based (and has a huge amount of clinical safety and efficacy data) is currently a huge asset and the right partner/ set of ears will get that.
• Ninedanib comes off patent next year so there’s some uncertainty about how much additional efficacy new drugs will need to achieve high pricing.
6. Someone asked Dan if they had any plans to use media / twitter to help promote the company a bit more and get new investors. Dan said they do have a plan and that ‘Fact that sp is so low but as always potential is massive so telling that story isn’t that difficult. The plan is new now we have a better feel of what drug companies want and why. We will also update with company presentation soon’.
Thanks Older, very useful to know.
For those not on Telegram here are the main issues Dan covered. I have used Dan’s own words but re-grouped some of his posts to make better sense.
1. His accident was Friday afternoon when he was walking and crossing a stream, slipped and fell over a 5m waterfall onto rocks! But he was wearing a helmet - so his injuries could have been a lot worse, but he was only in hospital for 2 days before flying home with his family.
2.Dan said they have been working really hard sorting a lot of patent issues, with a lot of progress dealing with some 'really grumpy patent examiners' (I assume that may refer to Japan patent issues).
3. EU patent is in process of finalisation and will be announced imminently.
4. Dan seemed to think that recent selling was final leftovers from Lanstead's last placing.
5. Dan mentioned 3 aspects they are dealing with, these are his own words:
• Most big pharma, not all, don’t like reprofiling (re-using known drugs). It wouldn’t surprise you if I said we’re speaking with AZ, you don’t have to be a genius to join the dots. They currently love IPF. We know them well. But they don’t like reprofiling. So the IP piece becomed more important, and the deal is just harder overall. We also don’t have orphan status. Every other asset out there has got orphan status already. To compete, I think personally we need that. Ideally from the European vs the US. If we go for European orphan designation, we have to present our existing data and rationale. If it’s accepted, it acts like a badge of honour – independent validation we’ve got potential – so drug companies like it. Plus they get a lot of downstream benefits. Shorter development pathways, R&D spend rebates, etc. So we really need to get that in place I think to close something. It will take up to 3 months to get orphan status. We want to start immediately.
On the subject of why.... why do you care so much about this failing NFTs?
Right you like pointing fingers and demanding investors answer.
Answer this one!!
Why has nobody even bothered to try buy this marvellous NXP002 yet after 5 years of knowing it works.
After knowing it can be used via inhale route which dramatically drops toxicity of Tranilast.
Why after two trials on humans lung tissue showing it has significant effects?
Yet it failed the duration test via rats which is a basic parameter of majors hence Anne Brindly wasting 1.5mil trying the rat route as that’s all she understands from her time at AZ etc.
So after all these experts looking under the bonnet what is it that they see that tells them it’s not worth it so we won’t bother buying it at few million?
Something isn’t right if that’s the case. If IPF is such a hard disease which it is to help and this clearly helps why can’t they stump up a few quid or even open a limited risk JV to help NFX?
Why?
NFT's posts are his usual negative fiction he has been spouting for the last 18 months.
I am on Telegram group and DG did not discuss or mention funding, although one person asked, to which Dan just replied ‘Obviously keeping things lean and focused on moving the company forward’. (I assume it would be price sensitive information and so he could say nothing more).
Lucky you've got no interest here then.
Firstly it was an example of what you could expect and secondly I am fully aware of the limitations of main market as that’s been the main problem with this company unable to raise more than 10% of the agreed aggregate of allotted shares voted at the AGM so they need a separate vote to allow more. So that’s how they do it.
A lot of back payment in salaries to off the total ouch 😫
Can you tell me how they will issue 277m shares?
Well I was informed reduced and that’s still going to cost heavy WHEN FUNDS ALLOW!!!
Which oh dear me is coming oh yes it’s coming. Make sure you vote now.
Incorrect. They have elected not to take payment of their salaries until such time as the business holds sufficient funds to
enable them to do so.
Seriously NFTs, if you're going to bluster at least sound like you know what you're talking about. Read the AGM resolutions from last year and this year before you make anymore pointless comments.
Another step forward in completing the patent portfolio. The orphan status is also going to be very useful & presumably was dependent on first securing the European patent, so we had to wait for that before applying.
They are taking salaries just reduced them to try hold back the raise till this new tax year when AGM takes place.
It just defers payment and they will probably make it up by giving themselves loads of options to help reduce the damage of dilution.
The problem is selling isn’t it as now you get locked for dilution and it will be significantly higher than before.
At 0.18p. Thats 277 million shares to raise £500,000 take of costs of placing etc.
Problem is now it will probably have to incur part loan notes part raise part warrants to existing shareholders etc
A messy affair.
But needs must.
Meanwhile NXP004 has had its Japanese patent granted.
https://patentscope.wipo.int/search/en/detail.jsf?docId=JP407637337&_fid=US410558972
Since there is some chat around 'Orphan drug designation' its worth a look at what this entails.
Firstly, it is intended for rare conditions and provides protection from competition once on the market (ten years market exclusivity). So it a good thing in anyones opinion.
Secondly, its to application and designation is free and takes a maximum of 90 days from submittal.
Thirdly, companies applying for designated orphan medicines pay reduced fees for regulatory activities. This includes reduced fees for protocol assistance, marketing-authorisation applications, inspections before authorisation, applications for changes to marketing authorisations made after approval, and reduced annual fees.
We know that the board aren't drawing a salary at the moment and this process is free so not worried there.
If anything any confirmation that they have applied for Orphan status is very good news as it means the IP is secured and they will likely have a product that is protected.
That all sounds a bit AVCTish NFTs, don’t you think, which you suggested we buy at £1.35 and now sits at 75p.
Seems to me you’re determined to convince yourself you made the right move selling out here and cutting your investing/trading pot in half again by jumping to to AVACTA too early.
You’re a strange chap, spending so much time posting on here, when you appear to bigger wounds to nurse elsewhere. Very odd behaviour.
You’re experience doesn’t appear conducive to dishing out advice, if you don’t mind me saying 😂
So as mentioned they had less money than most suspected on last accounts as I did.
They got pennies from NXP001 as I suspected.
NXP004 again not worth much but makes people think it’s not a one trick pony to feed the market with bluff!!!
AstraZeneca as mentioned by someone last night is no stranger to NFX and they haven’t paid millions to get the product that essentially makes their own powder slightly less needed. Thats what NXP004 managed lol
NXP002 to be of interest to market needs Orphan status or the hard sell gets even harder. Takes 3 months and no guarantee for EU granting for that topographical area. I’d expect even more work for US Asia etc!! So loads of work and time costs money. Legals cost money. Salaries travel cost money. Listing costs money. Few patents securities expected also soon but these cost money.
So expect the bowl to be presented as advised last year but they managed a few K for NXP001 and research back pay has let them push it further but that’s risky gamble letting the coffers empty. Nothing new here it’s been running like that since the start.
Ultimately though now it’s a one chance to try get this higher up the food chain or it’s bargain basement for BP’s to pick up if they cannot manage it themselves.
Nobody in a rush obviously to come grab NXP002 even at this pitiful price.
If it was so good and majors such as AZ see that then simply why haven’t they said hey we see you struggling and massively cheap for an IPF combined therapy drug here is 10mil and we will get this going????
Why?
It’s been available now for years and they know exactly what they are looking at!
What is it they cannot see that NFX has known for the last 6 years?? And telling them??
Glad you care about us all NFTs, just remind me.... is this the same placing you said would happen three times before and never materialised?
Thanks NFT how's avct doing?
Ha ha ha where’s that door lol 😝 as you all now realise what I have been warning you of for many months. No deal and cash required plus further work.
Money money money
All I read from that chat is money will be needed. Orphan status will take months and then months more to even get a negotiated deal etc. minimum a year before we see any potential deal and that’s only if they get orphan status otherwise it’s going to be even harder.
Big risks and little wonga. Better vote for that raise imo !!!!
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