Letter to Shareholders19 Oct 2021 07:30
WORTH RE-READING THIS. SP DROPPED A LOT WHEN ANN SAID SHE WAS RESIGNING BUT THE PIPELINE IS AS STRONG AS EVER. EXCELLENT LETTER...
Dear Shareholder,
I am writing to you as the Non-Executive Chairman of Nuformix plc. This letter comes as a response to a number of enquires we have had regarding the RNS we issued on Wednesday morning, 21 July stating that Dr Anne Brindley has decided to step down from her role as CEO of the Company. I understand the frustration and confusion from our valued shareholders on this news, feelings shared by the Board, so I wanted to address some of the concerns in this letter. Her announcement came after I had written my Chairman’s statement in the upcoming Annual Report.
Anne’s resignation was unexpected and is the result of a significant job offer she could not refuse from previous colleagues – it is no reflection on Nuformix or her view of the opportunities in the Nuformix pipeline.
Anne understands the difficulties this causes the Company and has committed to working diligently on the ongoing Company projects during her six month notice period and will continue to push forward the 3 pipeline assets for NXP002, NXP004 and NXP001, according to the strategy, as she has done so far since joining. All these projects are proceeding according to plan towards the inflection points previously communicated and all activities will continue to be progressed. The licensing discussions with Oxilio for NXP001 are ongoing and further news on this will be announced via RNS as soon as it is available. I do not doubt Anne’s commitment during this time.
As previously disclosed, we are expecting important readouts on the progress with NXP002 and NXP004 later in 2021 and positive outcomes on these will trigger licensing discussions with key players. Should this be the case, we will engage expertise in business development to pick up these projects. Even without any short term licensing income, the Company is funded through to the first inflection point for NXP002, to complete the research on NXP004, license NXP001 and to fund licensing discussions for a sufficient runway after getting data. As a Board, we are committed to navigating the Company through the next six months and beyond to achieve the best outcomes for our investors.
Sign In
Follow the stocks
