Member Info for ForFXSake

Indeed. Big hitter 380348 has just dumped for a grand profit of .05p per share!

"NFX could have had a deal but taken it to next level."

Well we should soon find out whether they could or not.

We were told a while ago that Business Development consultants would be employed to verify whether or not legacy discussions with Asian partners could lead to a positive outcome. We never heard anything back.

Then in the AGM Q&A we get:

"20. What happened to deals that the previous management indicated were close to being signed in January 2020?

Nuformix cannot comment on previous communications by the prior leadership. However, the current management will only publicly comment on deals once they are fully signed and delivered, as is the appropriate approach for a listed company".

We have not been officially told that those discussions were concluded. I think we should have been if they had. At least to prove that it wasn't all just BS in the first place. If they have ended then they should have told us otherwise people could continue to make ill-informed investment choices in the false belief that something is still possible. Maybe it could be argued that to not reveal that talks had fallen through would be deceptive, maybe even aregarded as mis-selling from the investor point of view.

To say that they cannot comment on previous communications by the prior leadership seems like nonsense given that already have (by telling us that they were going to verify the situation regarding previous talks).

Along with the fact that they did tell us that both Ebers and Vistagen were no longer of material interest, I am hoping that the vague response in the Q&A is indeed a good sign and an indication that the embers are still burning.

Time will tell.

To be honest Soup, I think I'll be pretty surprised if/when they finally deliver something without caveats that causes the price to go up.

After 2 years of false promises and failed/shrouded deals I'm kind of conditioned to not get my hopes up too much.

"Interesting chat on Signa-Aldrich, especially as DT and AC were both previously working there."

I wonder if they had shares in that too?

The problem with that is that whoever licenses NXP002 will be looking for a cheaper deal if they have to pay milestones and royalties out to TRX as well as us, as is probably the case with OXL001.

True.

That might still be an obstacle if poor solubility also limits absorption via the lymphatic system.

Soup, my point is that they might be able to target vanilla Tranilast. If so, then they already have a business model that might not infringe on our patents (for the reasons that you mention).

If the toxicity of vanilla Tranilast severely affects the liver then by-passing the liver and delivering via the lymphatic system may eliminate or reduce the toxicity.

It was just a thought, hopefully something that is not in DG's interests given his current holding. However, it might be something he would consider if NXP002 disappoints.

Hedging your bets, so to speak.

DG does now work for a company that is partnered with Oxilio to see if their delivery mechanism can be used for OXL001, that is true. In this case it seems to be supporting the use NXP001 so does not appear to be a threat.

However, TRX's mechanism is aimed at improving delivery of small molecule drugs via the lymphatic system instead of the liver, thereby overcoming serious side-effects and absorption limitations associated with the liver. Does that sound familiar? Isn't Tranilast a small molecule drug?

https://go.drugbank.com/drugs/DB07615

If it is a different mechanism then what is to stop them working directly with Tranilast in the future and competing with NXP002 or even NXP004 for that matter without infringing any of our patents? Is it possible that they can overcome the limitations of oral tranilast without requiring an inhaler product that might require investment in a different manufacturing process? Are there any grounds to be concerned that they now have access to DG's expertise in these products?

From the Q&A:

10. When do you expect results from the second application for the innovate grant?

The outcome of the resubmission of the Innovate UK grant was recently received. Unfortunately, this application was unsuccessful. It should be noted that these grant applications are extremely competitive and the chance of success is usually very low.

I wouldn't panic just yet chaps. It's still only October and I don't think any of us really expected news to drop too early in the quarter, given how NFX has been run over the last 18 months.

I remember in the Q&A that they used the following statement to swerve a question about the lack of detail on the Oxillio deal: "A key aspect of any deal is the endorsement of the Nuformix technology and strategy"...almost as if it was more important than the financial value.

Can you imagine how it will reflect on the CEO if both NXP002 & NXP004 fail after she has negotiated a deal where the primary consideration was just to "endorse the technology", especially if NXP001 turns out to be the only thing of value in the company and the revenue is insufficient to keep us going?! Incompetence would be an understatement.

For that reason alone I will be amazed if she is not incredibly confident that at least one of NXP002 or NXP004 will come good.

I might start panicking once we hit December without news but not just yet.

I understand your frustration Kane.

It might simply be because they want to avoid the risk of letting something slip in the run up to results. It's a shame they got rid of the link to the Q&A on the website though, they could have referred enquiring investors to that for more information instead of just declining and pulling the shutters down. That said, perhaps the reason why they pulled that link is because there was something in it that shouldn't have been there in the first place.

Let's just hope that the various departures turn out be because NXP002 & NXP004 are in an endgame scenario where positive results mean that they will be bought out. That would explain everything.

I didn't get the impression that DG's departure was planned at the time either SSM.

However, it was only a couple of months between him resigning and Oxillio expressing an interest in NXP001. I find it hard to believe that Oxillio would approach Nuformix without having a clear idea of a path to market and the partners they would need to get there. I therefore wonder if it might have been advantageous for them (or their partners) to enquire with individuals at Nuformix to see if they might be tempted to get on board. I'm not saying that this is what happened but
I have never really understood why DG left when he did.

It definitely seems to be a small world in pharma.

Not sure how to read DG's resurgence as the CBO of the company who are now partnering Oxilio.

Given the short timelines, would Oxilio not already have known what technology they were going to use when they first approached Nuformix about licensing NXP001? If so then is it possible that DG was initially approached before his resignation from Nuformix or was it just pure luck that this opportunity arose after his expertise became available?

So I guess the only reason why no value was added by the Oxilio deal is entirely down to the fact that shareholders were asking questions on a public discusssion board about why there was no value added by the Oxilio deal?

It will be interesting to see how history judges the decision not to try and build something around NXP001, given it is the most advanced product.

If the global oncology market turns out to be more lucrative than the actual CINV market and the terms of the deal mean that Oxillo reap hundreds of millions in revenue while paying just a paltry £2m royalties (if we're still around) then I think that decision will have been a very bad one.

If NXP002 & NXP004 do disappoint then the only circumstance in which the deal could be regarded as good is if the upfront payment turned out to be significant enough to offer another lifeline via NXP001 in other markets. Failing that, the only winners might be Oxilio & their partners.

Agreed Filter.

I find it strange how the Oxilio deal has done little to change the situation either. We are still well below the minimum broker valuation without a deal. There seems to be alot of newsworthy excitement about OXL001 which is wonderful for Oxilio &TRX yet we seem to have been forgotten. I suppose that's down to the fact that the financial details remain a closely guarded secret. How can anyone judge that a fair deal has been struck while that is the case?

I was hoping that excitement about imminent news on NXP002 & NXP004 results would be increasing the momentum by now. An influx of new PI's might help to drive the price back to a level where it is out of the reach of potential vultures. The board seem unconcerned that the company might be exposed in that way. Perhaps we worry unnecessarily.

It's nice to see the price rise holding for a change but I had hoped that there would be more interest by now.

I would welcome any news that shows a change of fortune for this company and finally removes the awful feeling that things are always worse than the BoD are letting on. We have suffered enough uncertainty about what the future holds. It feels like no progress can be made while a question mark hangs over filling the CEO role. It's time we had some direction on that.

I still have nagging doubts that someone out there really wants to see this go under so that they can snap up the IP and take it private without having to pay a fair price. I hope I'm wrong.

Morning Chab,

News-packed Q4 now starting to feel more like it's going to be a news-packed P12.

Does anyone know if we still have a PR company or a broker?

"seriously I think Anne's leaving in a chauffeur driven limo with her head held high".

Hope so, I'd hate to see her peddling away on a pushbike after slipping out of the back door on New Year's eve as we all still try and convince ourselves that no news is good news.