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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.
"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
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.
"I wonder why such a vague unhelpful response was given "
Par for the course I'm afraid.
“NXP002 is a likely candidate for Orphan Drug Designation”, but it has not been granted this status yet. The company is focussed on discussions with potential licensees for NXP002 and further updates will be provided as soon as appropriate."
Many thanks to Chab for getting this response from Tim.
What a vague response it was though. No dates as to when the application was made so we non the wiser. I wonder why such a vague unhelpful response was given by Tim.
FX is totally right.
I asked if it had been applied for yet, not whether it had been granted. So my question wasn't answered.
Obviously when and if it's granted there will be an announcement as such as the bod have attached so much meaning to obtaining it.
ATB
If you think that wasn't intentionally vague then you're living in a dreamworld.
Maybe you should have gone to specsavers
Mars, it is completely vague.
When I read the following:
“NXP002 is a likely candidate for Orphan Drug Designation”, but it has not been granted this status yet.
I actually interpret it as:
“NXP002 is a likely candidate for Orphan Drug Designation”, but it has not been granted this status yet....because we've either not submitted it or we don't want to be transparent about the fact that we have.
The other interesting point in the reply is that they are in discussions with more than one potential licensee
FX not that vague. The answer is it has not been granted yet, so the application is in, it can only have a possibility of been granted if it is applied for.
Thanks Chab.
So as expected, the vague, non-disclosure BS response.
My email to nfx and Tim's reply, which I'm sure he won't mind me posting to other investors
"Would you be so kind as to inform this investor whether you have yet applied for orphan status. "
Tim's reply
“NXP002 is a likely candidate for Orphan Drug Designation”, but it has not been granted this status yet. The company is focussed on discussions with potential licensees for NXP002 and further updates will be provided as soon as appropriate."
Best regards
Tim
ATB