RE: Status26 Apr 2024 09:51
Good morning Peeps, I'm all good just taking a back seat as there isn't much to say at the moment really.
That said, a few things to add following FX post on a few items, which is always worth questioning.
NXP002 EU patent - From what I can tell, the have issued the 'Intention to Grant', this then starts a 4 month period for paying fees, submitting translations, submitting any requested modifications etc.
Since the Intention to Grant was dated 2 Feb, that would place a Grant date at the beginning of June.
I think some of the £160k placing monies will be needed to pay for some of the above.
Orphan Drug Designation submission.
Again I think some of the placing monies will go to this as they will probably have needed a specific report(s) writing to bring together all of their data etc. Whilst the application is free, it is the work required to get your submission spot on that costs the money.
The EU review process is set out on their website, so yes you can submit at any time, it won't be reviewed until its appropriate slot. So, those submitted up to I think 27 March don't start the review process till 22 April, with results in July.
Just to pick up on Jivings point about the company RNS'ing the submission, I would expect to see that, as yes they previously have notified when they submitted patent filings. See NXP004 patent filing RNS.
Reading the EU orphan designation website, they recommend a pre-app meeting at least 2 months prior to submitting. So when they say they want to start immediately, that doesn't necessarily mean submitting immediately.
NXP004 patents
Like FX I don't know why they haven't RNS'd the Japanese patent approval, since they did so with NXP002.
Ongoing process, I personally think its tied in to a sale of the company as a whole, so they are on hold at the moment on that.
New plan and company presentation.
I think they should issue a 'Business Update' rns to outline the above changes, and possibly a new presentation.
But I think they are looking to sell the company as a whole so aren't bothered about drumming up new investor interest. Its binary, a sale will be at a certain price regardless.