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Nuformix PLC - London-based pharmaceutical development firm focused on fibrosis and oncology via drug repurposing - Says the contract research organisation undertaking the final planned pre-clinical study for its NXP002 treatment had a protocol failure, which has voided the study. Says the organisation repeated the study and recorded results that were inconsistent with the first in vivo study at all time points and also with the oral control. Notes that no positive or negative conclusions could be drawn from this study.
Decides to move forward with further studies, including evaluation of a new formulation, after consultation with the CRO. The timing of results from this study is expected on or before the first quarter of 2023. Believes it has sufficient funds to undertake the planned studies on NXP002 and operate on current projections until the fourth quarter of 2023.
Current stock price: 0.55 pence, down 36% on Monday
12-month change: down 74%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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