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"Perhaps milestones of the deal are variable dependent on how many and what indication is being addressed"

Maybe but the royalties don't appear to scaled that way. They appear to be capped at 2m for the deal rather than each indication.

This is what I meant about potentially losing out long term too. They could end up with alot of different indications, each targeting a different type of cancer in a huge market. If successful, it could eventually be worth hundreds of millions, if not billions.

The problem is that, not only do we know nothing about the value, we also have no idea how the deal is structured nor the timescales involved.

Failure to see any gains yesterday was a huge disappointment.

A boost to the sp would have put us in a stronger position to negotiate should NXP002 results be any good.
A good day might have raised our profile a bit and generated something for Allenby and Walbrook to work with but undisclosed terms are never going to excite the market. Alot of damage has been done over the last 2 years with constant churn of BoD so it was always going to be hard to light the blue touch paper. Not sure what else can be done to add value between now and data release. We seem unable to attract any notifiable holders.

Slightly worried now that a similar deal with no visible substance could be done for NXP002. NXP002 is primarily targetted at IPF rather than oncology so there might be the temptation to out license it to any takers for other purposes. However, these side deals appear to offer little near term gain other than to bring in an unknown (probably small) amount of cash. Shouldn't deals like this be used to strengthen our position for negotiations by increasing our capital value? How can we do that if the market can't see what it's worth? We could also be selling ourselves short on huge opportunities in the longer term.

I wonder if we'll see anything by way of Proactive interview or broker analysis to try and make something of this, or is it just a case of 'box ticked'.

Good luck with that!

"Needs more meat on the bone. I was hoping for at least an indication of milestone figures. Needs Allenby to back it up with an update."

Until that happens it looks like the market will refuse to attach any value to this deal whatsoever. If it doesn't happen soon then it has to be assumed that someone is keen to keep these figures away from public scrutiny for as long as possible.

Frustrating really. How often do you get a green day when a plc announces a worldwide exclusive license for a new cancer treatment? Just hope it doesn't turn red.

17.6m shares traded. 1.45p bid.

Outstanding!!!

Can someone please tell the traders that "sell on news" only works when the price has actually had chance to go up

Well spotted Soup.

Interesting.

I would hope that we get some kind of update from Allenby to put a shine on things. The RNS provides no further financial detail but they must at least have worked out a structure for milestone payments and timelines going forward.

Allenby said we were worth 1.7p to 3.4p prior to any news. We must must be worth more now.

Good to see the deal finally landed. Shame that there is no further financial details. Was hoping for enhanced terms or some explanation of why things have taken so long.

Just hope that this is enough to push us back towards 3.4p or at least where we were at the start of this miserable year.

Fingers crossed for good data now and soon.

LOL!

PS. While I'm bored and further to my previous 'conspiracy theory' about the Oxilio delay somehow being linked to the data release for NXP002/NXP004, I noted the following article during a random search on tranilast anti-cancer properties:

https://www.sciencedirect.com/science/article/pii/S0753332221006260

It talks about the anti-cancer potential of Tranilast and how it might be of interest as a subject of re-purposing for oncology either alone or in conjunction with other treatments.

"Cancer is a life-threatening disease with a worldwide impact of 19.3 million new cases and 10 million deaths in 2020 [1]. Despite significant advancement in the treatment strategies made to date, life-threatening side effects induced by chemotherapeutic drugs, or the development of chemotherapeutic resistance limit the success of the treatment thereby causing therapeutic failure. [2] In lieu of this, active research is now focused on repurposing existing non-oncology drugs with low toxicity profiles for the clinical management of cancers. A recent study by Corsello et al. [3], has described the use of PRISM molecular barcoding and multiplexing screening method to test 4518 existing drugs against 578 cancer cell lines. This study reported that non-oncology drugs showed an unexpectedly high rate of anticancer potential and direct clinical translation [3]. Accordingly, it is postulated that drugs that target various hallmarks of cancers have better applicability in oncology therapeutics [4]. Since, inflammation is a critical hallmark that fosters multiple functions in cancer development such as immunosuppression, cellular transformation, promotion, survival, proliferation, invasion, angiogenesis, and metastasis [5]; non-oncology anti-inflammatory drugs may have an essential role in cancer therapeutics."

I thought it was interesting as Oxilio seem to imply on their website that their focus is on re-purposing drugs (plural) for oncology, yet they only mention OXL001 in their up-coming clinical trials section.

Could they have designs on NXP002 and/or NXP004 as well?

You could argue that this shouldn't have any impact on delaying OXL001. However, if the worst came to the worst and our IPF Tranilast data proved less than promising, it would put them in a rather advantageous position for further negotiations or full acquisition of NFX IP.

One would hope that a savvy CEO who has the best interests of the shareholders at heart would make it clear that any such delaying tactic might reasonably result in a re-evaluation of terms on OXL001 in the event of good data which strengthens our position.

What is good for the goose is good for the gander, so to speak.

I do H.

Just humouring while I wait for something big to happen.

What is it that has happened Goup?

Is there any other type of news?

What's an RNS?

Gala Bingo?

I don't suppose it matters really.

What use is a runway if the plane can't fly?

I still wonder if the reason nothing is happening is because the structure of the final deal is somehow linked to the outcome of the NXP002 data (as could be the fate of NFX itself).

If NFX are contractually involved in the repurposing of OXL001 then I presume NFX must remain a going concern. If the NXP002 data is good then that is very likely assured and the deal as we understand it can proceed. If it's bad (and OXL001 is not enough to keep us going on it's own) then NFX's future could be under threat. This will be compounded by the fact that we will soon have no CEO. What happens then?

A changing scenario might call for different finalisation terms. We are now just weeks away from the expected release of the NXP002 data. Oxilio might think it is safer to sit it out than hand over money in an uncertain environment.

What will become of Nuformix Technology when Brindley's notice is up?

As a limited company it will require at least one director and she is now the only one.

It's funny how a plc can own what is effectively a private company.

It must be private as AB is the only director.

As far as I understand PLC requires 2 by law.

Apologies again, I have just checked a different search and there are appropriate filings for Riddell, Kennedy & Gilbert. The previous link I found was for "Nuformix Technologies" and not "Nuformix plc".

The appropriate filings are present in this alternative link:

https://find-and-update.company-information.service.gov.uk/company/09632100/filing-history

It had me worried for a minute because it looked like we had only one formal director when at least 2 are required for a plc.