Member Info for ForFXSake

So the price of Vectura has been bouncing around between 110p and 120p for past few weeks. In April, the shareholders get promised a nice 19p dividend. Then on May 26 a bid comes in for 136p so long as the 19p dividend is cancelled...and the board OK it!

I wonder how many shares the board hold? Perhaps another good example of why shareholders should ask searching questions of the people they entrust their money to.

At least the price has shot up enough for the VEC holders so as to counter the effect. It would be nice to see the chancers get outbid by someone else though.

I agree Jiving.

The Jo thing could be mutual, I just hope it isn't a signal that Oxilio has fallen through. I also hope she doesn't end up defecting across to Ebers.

Her and Dan retaining their holding is probably the very last straw that we can grasp at for reassurance that the ship isn't about to sink.

"Recent events could be massively positive or the alternative doesn't bear thinking about!!! The silence is deafening."

That sums it up perfectly.

If, (now that the board-of-the-time has evaporated) the mysterious Asian partner comes forward and signs up for the infamous Times-leaked deal, then we will know that most of them fell on their swords for a noble cause...as opposed to running away to dodge responsibility for the 'car crash' they oversaw.

VIKINGRAZOR,

As well as asking the question why would a Chairman want to join if there is nothing doing (which is a valid question), you might also want to ask why every single member of the board of directors from the pre-meltdown period last year has quit. I could be mistaken but I think that includes:

David Topalczay
Alan Chorlton
John Lidgey
Daniel Gooding
Chris Blackwell
Joanne Holland
Karl Keegan

That's quite a list in one year There might also be a good reason for it...it's just that no one is telling us what that reason is. It might just be a coincidence that the share price has dropped from 15p to 2p in that time.

Oh dear.

Whimax is getting upset about the concept of free speech and debate again

Yawn!

The problem there Jiving is that if they have changed their strategy to being just an ip asset management company then they haven't told anyone or made it clear.

This is the first thing you see when you go to the website:

"Nuformix is a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing".

We're just guessing until they can be bothered to use their expensive new PR company to tell us what the hell is actually going on.

Yes. That is nonsense.

I don't often see eye to eye with OSS but I am struggling to see how Jo's decision to resign is not damaging (if it is her decision).

Alot of shareholders will have been using her ongoing loyalty to the company as a weathervane to gauge whether things are going tits-up or not. Now they don't even have that to help them feel assured.

Thanks

Does anyone have any idea what Keegan was working on? That might be a clue as to why he is leaving.

Was Oxilio his baby after Blackwell left? Someone seemed to intimate that Blackwell was friendly with and had previous links to the Oxilio team, maybe Keegan did too.

That is true Soup and hopefully the case.

However, the history of timely reporting has never been a strong point here and we're well used to the management being vague when it comes to deal progression/status. I use Ebers, Vistagen and the Asian NXP002 negotiations as examples there.

I know that Hope,

I was referring to what contingency plans might be in place if things fell through and how they might/might not require the skills of Jo, who is now working her very short notice period.

I was musing over several possible scenarios:

1. Planned: Oxilio deal is all but done so no contingency required therefore Jo at a loose end and able to move on whilst being occasionally called upon as a consultant.

2. Unplanned: Internal wranglings or failure of Oxilio deal has resulted in departure of Keegan and Jo, perhaps as a cost cutting measure to allow NXP002 work to continue.

I cannot see Anne pushing so hard for new terms that the deal would be lost in that way. Also, Oxilio must have been confident that NXP001 was worth moving forward to exercise the option and plaster their website with announcements about clinical trials for OXL001.

That leaves the possibility that their financial backing may have failed.

I just find it very odd that NFX have announced the loss of two people without any kind of sweetener in the days to follow. The Chairman role may still be required for NXP002 (as already mentioned by Soup, the links to Takeda could prove significant) which explains why he has still been brought in.

I have fears for Oxilio though.

From the placing RNS:

"There is no guarantee that Oxilio will exercise the option. However, if the option is not exercised, Nuformix will pursue additional business development opportunities for NXP001 in oncology with the potential to generate value from this asset."

You could be right. However, I wouldn't say it was clear that "business development" refers entirely to external repurposing work.

Time will tell. I am always suspicious when bombshell news is dropped followed by silence.

They might be busy on their other projects.

Maybe they'll find some time for us soon.

I was hoping they might release some positive news about Oxilio finalisation in the aftermath of Monday's RNS.

They said in the placing RNS that, if the licence was not exercised by Oxilio, they would look to capitalise on NXP001 as cancer treatment themselves. Presumably that would have meant further repurposing and cocrystal development...something Jo would have been needed for.

As she is now going, one might assume that the deal is all but finalised. If not then how would they plan to work on it further themselves.

Still lots of unanswered questions here.

I stand corrected then

After Mondays' news, what would be really nice to know is: who exactly at NFX now has the extensive expertise in inhaled therapies to advance the programme to the next inflection point in six-to nine months’ time? Didn't she just leave?

"Undisclosed"

:0)

Agreed

OBW, it's probably even simpler than that.

For every outcome we can logically conclude from yesterday's news, there is a valid argument against.

Why are people leaving if a deal is about to be struck?
Why take on a Chairman if you're being bought out?
etc..

The most likely option of all, especially given the events of the last 18 months, is that the boardroom is back in turmoil again. What other reason could there be for such unpredictable, out-of-the-blue events?