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20% yesterday, 20% today,

Steady buying with just enough exiting to keep it liquid.

So if receiving FDA ODD is virtually nailed on, the transformation of NFX is going to be in the partnership announcement.

Who could partner NXP002 (inhaled tranilast for IPF) — and why:

The most logical strategic buyers are the current IPF incumbents: Boehringer Ingelheim (OFEV/nintedanib) and Roche/Genentech (Esbriet legacy). An inhaled, repurposed small-molecule add-on that can improve efficacy/tolerability is exactly the kind of asset they evaluate for combo or line-extension strategies. A second tier of credible names includes Galapagos, Pliant, Insmed, United Therapeutics — all active in fibrosis/ILD and known to transact on pipeline-enhancing assets.

Warm doors via NFX’s own network:

On the nearer side, Oxilio (NXP001 partner) is an obvious first call, Importantly, the board’s BD track record gives access to big-pharma desks: Dr Dan Gooding has previously executed licensing deals with AstraZeneca and J&J, while Julian Gilbert’s career spans Chiroscience/Celltech lineage, Mundipharma/BTG, the sale of Arakis to Sosei/Nxera, and leadership at Acacia Pharma. Net-net: with EMA ODD already in hand and FDA ODD filed, NXP002 has a profile that belongs on exactly these partners’ shortlists. (Informed speculation based on public history and disclosed relationships.)

The 20% spread is ridiculous!! True spread .2655/.2855 and they will take 10m with ease.

Desperate to keep retail from getting interested while they fill a whales order.

Derek obviously knows his stuff 🤓

Derek’s the man! 🙏

🤣🤣

Still, only SCAP on bid with 2m @.27 but can sell 6m @ .2722 without NT

After a breather from last weeks buying, someone is hoovering up again, trying to stay under the radar.

Ii will take 10,000,000 at .262 without going NT when only one MM on .26 bid with 2,000,000

Looks like same MO as last week when it shot to .34 on no news and just moderate buying.

Boehringer Ingelheim

Strategic Fit ⭐⭐⭐⭐⭐

Likelihood ⭐⭐⭐⭐

Share Price Impact 💥💥💥💥 (10 x multi-bagger)

Oxilio

Strategic Fit ⭐⭐⭐

Likelihood ⭐⭐⭐⭐⭐

Share Price Impact 💥💥 (credible progress)

AstraZeneca

Strategic Fit ⭐⭐⭐⭐

Likelihood ⭐⭐

Share Price Impact 💥💥💥💥

Johnson & Johnson

Strategic Fit ⭐⭐⭐⭐

Likelihood ⭐⭐

Share Price Impact 💥💥💥💥

Roche/Genentech

Strategic Fit ⭐⭐⭐

Likelihood ⭐

Share Price Impact 💥💥💥

(strategic, less likely due to Esbriet divestment)

So if receiving FDA ODD is virtually nailed on, the transformation of NFX is going to be in the partnership announcement.

Who could partner NXP002 (inhaled tranilast for IPF) — and why:

The most logical strategic buyers are the current IPF incumbents: Boehringer Ingelheim (OFEV/nintedanib) and Roche/Genentech (Esbriet legacy). An inhaled, repurposed small-molecule add-on that can improve efficacy/tolerability is exactly the kind of asset they evaluate for combo or line-extension strategies. A second tier of credible names includes Galapagos, Pliant, Insmed, United Therapeutics — all active in fibrosis/ILD and known to transact on pipeline-enhancing assets.

Warm doors via NFX’s own network:

On the nearer side, Oxilio (NXP001 partner) is an obvious first call, and Newsummit Biopharma (historic NXP001 deal) shows NFX can structure regional/ex-US licenses. Importantly, the board’s BD track record gives access to big-pharma desks: Dr Dan Gooding has previously executed licensing deals with AstraZeneca and J&J, while Julian Gilbert’s career spans Chiroscience/Celltech lineage, Mundipharma/BTG, the sale of Arakis to Sosei/Nxera, and leadership at Acacia Pharma. Net-net: with EMA ODD already in hand and FDA ODD filed, NXP002 has a profile that belongs on exactly these partners’ shortlists. (Informed speculation based on public history and disclosed relationships.)

EMA ODD already granted – here’s why FDA ODD is 80–90% likely next

Nuformix already holds EMA Orphan Drug Designation for NXP002 (inhaled tranilast for IPF) – and that’s a big deal. The FDA process uses almost the same criteria as the EMA: proof the disease is rare, unmet need, and a sound scientific rationale. IPF easily meets the rarity rule, and inhaled delivery offers clear differentiation from existing oral drugs (Ofev/Esbriet).

Historically, around 8–9 out of 10 EMA ODDs go on to receive FDA ODD when the same dossier is filed. The only failures are when U.S. prevalence is too high or there’s no added benefit – neither applies here.

So while nothing’s guaranteed, FDA ODD approval in the next few weeks is statistically very likely, and confirmation would be a major validation moment for the programme and the share price alike.

What he’s actually done (and when)

Background & roles: Co-founded Nuformix; CEO until June 2020; returned as Executive Director in Aug 2022.

Licensing track record: Nuformix’s own reports state he “led successful licensing deals… with Johnson & Johnson and AstraZeneca.” This language appears in the company’s 2018 Annual Report (when he was CEO) and is repeated in later filings—so the J&J/AZ deals pre-date 2018.

Current programme status (relevance for BD): NXP002 (inhaled tranilast for IPF) secured EU Orphan Drug Designation in Apr/May 2025, and the FDA ODD application was submitted on 11 Aug 2025—exactly the kind of de-risking that helps open doors at big pharma.

Will those contacts still matter?

Senior partnering people do move, but category credibility + warm intros still help. His prior dealmaking plus Cambridge network gives him a credible route to decision-makers, even if some faces have changed. (The company’s own materials still frame him as the BD lead.)

Likelihood he can land a deal for NFX now

Think in terms of conditions, not personalities. Probability rises sharply if NFX can show:

Clear differentiation vs. standard of care in IPF (mechanism + data package).

Regulatory momentum (EU ODD already achieved; FDA ODD pending is a positive signal).

Partner-ready package: clean IP, defined development plan, realistic cost/timeline, and partnering economics that match mid-cap/Big Pharma thresholds.

Practical next steps to maximise a J&J/AZ-type deal

Targeted short list: Focus on respiratory/franchise owners with recent BD in fibrosis (AZ, BMS, GSK, Boehringer, Roche/Genentech).

KOL-backed data brief: One tight deck (≤15 slides) highlighting MoA, ODD status, human-tissue data, and a crisp Phase 1/2 plan with budget.

Option-to-license or regional structures**:** lowers upfront friction; allows pharma to stage risk.

Advisory firepower: Add 1–2 senior ex-pharma respiratory BD advisers to warm channels and sharpen terms.

Bottom line

Fact: Gooding has previously led deals touching J&J and AstraZeneca (pre-2018).

Now: With EU ODD in hand and FDA ODD under review, he’s got a stronger story to take back into those halls—but success will depend more on NXP002’s partner-grade package than on legacy contacts.

Another tick up on ask without the bid following. MM's not afraid to take stock, they will take millions over bid without NT.

They're more worried when the one or two sellers have traded on a bid tick up, the tight spread giving buyers more confidence.

MMs are lucky there's currently little passing traffic but if news drops or an X post brings visitors, it will be a different story.

Smiler 😂😂😂

I was thinking the same.

Anyhow, whats going on here, MM's desperately leaving massive 27% spread to deter traders and investors.

Real bid/ask .1922/.215

NT to buy more than 300k

And they will still take 8m without NT

I presume the point he's trying to make in the post is how transformational FDA approval of any sort can be for a small mcap pharma/biotech like IMM, HEMO and SPRB doing 1,300% yesterday.

You didn't really need that spelling out did you?

This guy has 15K+ followers, his post an hour ago may bring new eyes to NFX 🤷‍♂️

NT to buy 200,000+

probably the reason for the 200,000 tranche buys.

Can sell 7m without going NT over bid

On both sides of the trade.

If news is positive on ODD and there's even so much of a hint a partnership agreement for NXP002, thew will definitely be a shortage of stock and no current headroom for placing without vote.

HEMO recent on announcing FDA approval & funding in place did 16x

Holding for similar reaction over next few weeks

Not down yet.

Opening price distorted by the odd .24 Uncrossing trade on Friday.

Current bid/offer same as Friday afternoon close.

Not sure for how long though 😫

Looks like a couple of chunky sells from Thursday first one helped the 10:00 dramatic drop in price.

Also, manipulation of the closing price by matching a silly priced order for final UT, to make headline closing price blue rather the the more realistic 15% down.

Why 🤔

I suppose we can't be doing double digit increases in share price every week.

03 Oct ’25 (2.90p): -23.1% 😞

26 Sep ’25 (~3.77p): +53.1% 😊

19 Sep ’25 (~2.46p): +14.1% 😊

12 Sep ’25 (~2.16p): +17.2% 😊

05 Sep ’25 (~1.84p): +154.4% 😊

29 Aug ’25 (~0.72p): +7.5% 😊

22 Aug ’25 (~0.67p): +29.3% 😊

Roll on the next few weeks.