Member Info for Jiving

Its like we are blighted with hapless, hopeless incompetents from top to bottom.

G-e-t-a-l-i-f-e.
The End.

Very positive on the development market going forward. https://www.ft.com/content/ed442384-8ede-4e47-98f6-9788d27fc6d3

Right place, right time:
“If you’re an exploration development company at the moment, you’re spending every cent you can get your hands on touring around Wall Street and Toronto and London, trying to talk to hedge funds and private equity and others, trying to raise money,” said Allan Pickett, head of fertiliser analysis at IHS Markit.

Right a bottom feeder with nothing better to do than try & feed off other peoples woes. Get a life.

First off DeeJayHaitch why are you here on this board, you got some shares, how long you had them? I respond to fellow shareholders.

Understanding def. = 'something that you have reason to believe'

FX. My understanding is that Blackwell forced Dan out. It came at an extremely inopportune time as detailed negotiations were going on with Kissei which covered a development plan, finance the whole lot. For whatever reason the deal was not followed through (Covid also intervened) & to make matters even worse the Japanese agent who was nursing the deal along was poorly treated.

On top of that the labs were eventually closed down, which derived us of both revenue & potential tie-ups with other biotech companies - one or more of which might eventually have struck gold. The company has been run into the ground by a bunch of disinterested non-stakeholders who at best have treated it as a temp position at worst as a revenue generating hobby.

I can't see any non-stakeholder taking the job with any real commitment or the necessary entrepreneurial push to close a deal. If all we get is yet another temporary, part time retiree, who wants a break from his gardening, I am out after 5 years.

FX I agree with your thoughts on Dan. If he does not step up I can't see much future for NFX. He has what some 37 million shares & 30+ million options that expire Oct/Nov this year. Thats a huge incentive to bring back some order & positive momentum to the company.

There is very little motivation for an external executive to come on board a £4m company with no labs, little finance & two maybe, maybe good products. We have had 2 years of trying to get even halfway decent external executives to drive this forward & that has completely holistically failed as our share price & mkt cap illustrate.

Its not just that AR was hopeless at IR, what about our actual paid IR consultants, surely they and/or our brokers have some knowledge of how to construct a more investor positive/friendly RNS.

The bad news was dumped up-front at length & possible good news was thrown in last as an afterthought, without any explanation.

The way Riddell has left is a total absolute disgrace, he is unfit to be a company director by leaving a listed company in this predicament. If Dan doesn't step up, imo we are really screwed, who wants to take this poisoned chalice? I gather that since he left he has repeatedly stressed to people in contact with him that he has moved on & did not want to return in an executive capacity. I am hoping that force of circumstance will change his mind, at least to put the show back on the road.

Thanks Soup for that v useful accounting explanation. So our cash is currently approx 1/3 of our market capitalisation. Add our value as a listed shell' and the patents are in for zero.

FX I imagine it would be structures as an agreed RTO similar to how unlisted Nuformix was 'taken over' by listed Levrett. Except we are the 'shell' with potentially valuable patents, unlike Levrett.

Well a takeover by Oxilio would be better than going slowly bankrupt at the hands of more catastrophic incompetents. They have built a company with an inferred value a multiple of ours, primarily on the back of our least valuable patent NXP001. If we (current NFX shareholders) could get half the merged company I would say OK, but my fear is given our pitiful mkt cap we would end up with more like 10%.

NFTs, we need a responsible, replacement Chairman first & foremost. Twice the Chairman has acted as CEO, no reason that couldn't happen again. My concern is that if we have another retiree, non stakeholder as Chairman we will simply repeat the mistakes of the last two.

This is & always has been an early stage venture capital company, typically they are driven forward by their founders who are also major shareholders. We need that back, Jo is a scientist who does not get involved in management issues so that leaves Dan by default. I guess Julian Gilbert would be the next choice after that, but again he appears to be another 'retired' exec who really doesn't want executive responsibility - so more of the same.

Simply unbelievable the disastrous creatures who have mis-managed our company for the last 2 years. Always puffed up as men/women of good standing, responsibility, capability etc etc etc and they all clearly couldn't give the slightest damn for the company, its products or shareholders.

We need somebody back who has a big shareholding & knows the company - it has to be Dan, as Chairman or CEO whatever. We cannot have yet another irresponsible mercenary taking a few months salary & options before scarpering leaving chaos behind.

If the CRO has caused this costly delay are they liable for compensation?

It shouldn't hamper Dan getting back in touch with Kissei re NXP002 and trying to take the deal forward from where it was 2 years ago. Presumably Kissei or any other partner will be subject to positive results in Q1 2023.

NXP004 still seems positive, so the positive comment we have had the last few weeks is still pertinent.

Very useful stuff Mars, the notion. of 'product hopping' for rationalising the practical process by which the major pharma's push their consumers towards improved products with a lengthier patent life. Exactly the process we hope to see AZ undertake for NXP004 & Lynparza.

On an associated topic, hopefully NFX & our patents are in the UK tax 'Patent Box' & thus subject to a 10% corporation tax on IP revenues?https://www.aathornton.com/patent-box-inventing-a-way-to-reduce-corporation-tax/

I get the impression its our November 2021 patent filing that may be the key one, although presumably the value is in the both patents. The summer 2021 tests seem to be the ones that have shaken up peoples perception of 004 - but not yet the markets.

Thanks Mars thats an interesting case with large sums involved. The Forward Pharma patent seem to be at a more advanced stage that NXP004 though, and clearly is in a grey area with Biogen's existing portfolio.