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I think most holders, myself included, were absolutely gutted when DG announced his departure. At the time, DG and JH were probably the only ones I thought we couldn't do without. DG was the charismatic frontman and understandably popular. It was a massive and unexplained blow to the company and shareholders when he left and we got no explanation as to why.

However, we are now in a situation where facts have to be faced. He is probably the only one who can now step into the breach and stand any chance of holding this company up in its current form and possibly turning it around.

The big question is whether or not he wants to.

"So everyone who was glad to see the back of Dan now sees him as their saviour?"

If that was levelled at me then the answer is: Nope. Not at all. Just pondering why someone who left without explanation and then appears to have spent alot of time trying to influence deals from the outside wouldn't relish the opportunity to take charge again. Don't you find it strange?

Well said Push.

Until the management is sorted out then there is no NXP002 or NXP004. If DG really cared about his holding here then why not step up if no one else will? He has been deeply involved since he left so to say he wants to distance himself doesn't really hold water to me.

With his popularity amongst the faithful here and traders elsewhere, I would be surprised if the announcement of his return alone didn't push the sp back above the Lanstead baseline!

There is no one with better knowledge of the products than him and Holland. Both have major holdings. If conflict and disagreement was the reason for their departure then that has surely gone now, there is no one left to disagreement with! If they won't take on the CEO mantle then why would anyone else.

Why would you not want to save the company you founded , understand and have financial interests in?

I agree Jiving. However, if DG wanted to move on then why has he got so involved in the Oxilio deal and why did he offer to become a business development consultant. He is willing to operate in an executive capacity for Trx, why not do so for Nuformix, where he has a huge personal holding? He must have known that they could not find a CEO and he must have known what the impact of that would be. Surely it makes sense?

The thing is that DG appears to have strong popular support from other shareholders. The impact of him just announcing that he was stepping in as CEO would likely give a huge boost to the company and its share price. It would certainly take us away from the brink Why would he not want that when we have a 'superior' alternative to olaparib in play?

"So was he fed up with the exec role or did Lanstead ask him to go, we will never know"

Mars, would Lanstead have the power to force the only executive to resign and even if they could, would they do so without having a replacement lined up? Our biggest risk now is suspension if no one steps up as an executive director. It is a requirement for a plc to have at least one.

If DG really cared about his holding and was the white Knight that everyone here thinks he is then surely he would step up to the plate if Gilbert wasn't prepared to do so. It would appear that, as a major shareholder, DG has been influential since he left (e.g. his brokering of the Oxilio deal and also his appointment as a business development consultant). Why we he not want to take the reigns and lead the company if no else wants to?

If the company is allowed to be suspended and then be de-listed then you have to the ask questions "Why did no one step up and why did Riddell leave us for dead without working any kind of notice to ensure a smooth handover to someone else without putting shareholders at risk?"

"The main line is NXP002 and that is the main product value."

So they keep saying...just before an acting CEO makes an exit

That's if they want to become listed Jiving.

It would give them complete ownership of NXP001. The only thing so far that appears to have any value in the portfolio.

Isn't there a slight problem in that Oxilio is private while Nuformix is a plc. Unless Oxilio becomes listed then how will they be able to offer a share only deal to people with holdings in sipps and isa's? To take it private the would have to offer to buy them out with cash...or wait for it to become de-listed, perhaps because there is no executive officer to satisfy constraints? Hmmm.

Good luck Chablard.

He was the only executive director. What happens now with regards to listing status?

Unbelievable.

Another blow for the genuine LTH amongst us.

Weren't the durability results supposed to be fairly trivial and the least significant? Who expected they'd be able to derail things until 2023? Does that mean that Dr Goodings consultancy fees and effort have all been for nothing?

I don't understand why the company never publishes the actual results of any of these CRO tests so that shareholders can see things are happening as and when claimed.

NXP004 is still regarded as superior to Lynparza but still no mention of whether or not it is AZ's (or anyone elses) radar yet. How come?

Just to correct one of the facts I got wrong in my last post. I think most of the current directors of Trx were appointed in May 2021 (not October 2020) so, if DG was also a co-founder (as mentioned on their website) then it could have been around then.

October 2020 was around the time when the Oxilio deal was first mentioned in an RNS. It is also around the time when DG set up his consultancy company, LSHS, which he recently sold to Oxilio in exchange for shares.

Apologies for the mixup

Trombone, I don't recall many posts from you before this year so I'm guessing you perhaps got in late last year while all the expectations were high?

Most of the damage to the sp had been done by then. The boardroom exodus had occurred, Vistagen & Ebers had come to nought, JH & Keegan had flitted and Brindley was working her notice. It had just emerged that DG, who left us unexpectedly in June 2020, was a co-founder of Trx Biosciences (which appeared in its current form around October 2020?) and was involved in brokering the Oxilio deal which involved handing away phase 1 ready CINV in a deal which capped our upside to a paltry 2m a year.

When I came in back in late 2019, NXP001 had undergone a bumper year in terms of progress, NXP002 was on the verge of a mega deal, Ebers were promising 51m in future business and we had what appeared to be a strong, ambitious and heavily-invested board telling us how promising everything was and how quick to market it would be. It looked like a good time to invest. How wrong I was.

Given all that, you were quick to judge it insane to not consolidate losses and get out if you felt misgivings at this stage. Was it any saner to get in when you had the benefit of all that in hindsight?

I hope it does turn around and you do make your money here. The rest of might just hope to reduce our losses if something magical occurs.

Oh dear, I got it wrong then.

Someone should tell Nuformix. The investor presentation on their own website shows a diagram on page 15 which has phase 1 readiness by mid 2022 and phase 2 commencing in mid 2023.

They're even further off than I am

SSM, Chab & Hale. All good points that I agree with.

SSM, it's not the products that I doubt. My main worry is that they could be taken off us for a knockdown price because BD doesn't yield anything. At the end of last year we were of the understanding that NXP002 would be phase 1 ready at the end of 2022. We're almost half way through the year and we have heard nothing on progress let alone word of the delayed data. If we're not vigilant we might just end up funding the development of these products until they advance far enough to be poached off us by vultures.

I'm watching with interest to see what happens next.

I've lost so much money here that I might as well leave what's and see what happens. Not much more to lose.

Sorry if that doesn't suit agendas

"ok, so you're upset they're not releasing news that might be negative?"

No, I want honesty, truth and a plan

I've said before that I find it difficult to trust a board that seems to put the interests of 'partners' above those of its own shareholders.

I struggle to see why so much effort has been put into hiding the details of the Oxilio deal from shareholders when there is so little in it for us. Why can we not know how much Oxillio need to make in order for us to make money. Why are we happy to let them delay without being able to amend the terms or seek licensing with others? What happens to the NXP001 IP if we go under in the meantime? Do Oxillio get it for free? What % of Oxilio revenue are our royalties worth exactly?

As a shareholder, don't you want to know?