Member Info for LTbeliever

For all we know, Dan might be sitting on the FDA notification - as he had waited for the fund raise to be completed, before issuing the RNS on 12 Nov.

Looking through various FDA decisions, some companies announce the FDA decision one-two days after, but some even weeks earlier.

Remember that - since Nov 12th RNS - we've had the shutdown and the Xmas break, so a backlog must have built up in December. It's been around 40 w/days since then, minus the shutdown. FDA was partially operating during that period.

We'll definitely get an RNS by 30 Jan, ie in next 8 trading days, but that'll be the AFS y/e Sept 2025; will be nice if they combine it with an FDA-positive RNS too!

Shows exactly how the 1mln is expected to be spent, good to see 150k earmarked for the PD detector.

https://www.turnerpope.com/wp-content/uploads/2026/01/Metirplc_22-12-2025_FINAL_BG.pdf

I agree Sdad, delay is probably due to the late Oct-Nov agreements with Daenemeng and the impact it has on how expenses/cash flows should be accounted for (as these are new and quite specific); Mid-Febr the latest, as you say.

Given that by 31 Jan the AFS needs to be reported, for Y/E 30 Sept 2025, the Co will have to update the mkt about NPX002's FDA status, IMO, if nothing else is announced by then.

@Infor1p,

Monday's Martin Luther King Day Holiday in the USA, as you said; however, (clutching at straws here!), we are assuming that the FDA updates its website on same day it tells the Co, but is this the case? I'd assume that the FDA advises the applicant some time earlier (2-3 days perhaps), to prepare the required Market updates etc? In which case, the SP will jump due to insiders' trading, possibly?

Thanks Big_K, much clearer now; just a guess but maybe the 2 month delay (since last RNS) might be FDA "packaging" together all IPF "applications" i.e looking at them roughly during the same period; hence, we might get news very soon?

So "designated" means the FDA made a decision, but which was a rejection, basically - so this is good, in a way, for NFX - if I understood - as it means one less competitor in our way.

You need to filter - but it says below "Not FDA Approved for Orphan Indication" - meaning?

Generic Name: isoquinoline derivative containing diesters that inhibits BCL-xL

Date Designated: 01/15/2026

Orphan Designation: treatment of idiopathic pulmonary fibrosis

Orphan Designation Status: Designated

FDA Orphan Approval Status: Not FDA Approved for Orphan Indication

Sponsor: Nanjing Reju Therapeutics Co., Ltd.

4th Floor, Building 6, No. 699-18 Xuanwu Avenue, Xuanwu District

Nanjing City

China

Nice to see someone as positive (or, more actually :)) than I am...Mkt cap at 60mln upon FDA approval? No idea TBH, does anyone one have some comparative metrics that we can use as a basis?

We have 6 weeks to load up, before takeoff :))))

Esp. when they commercialise the PD detector, hopefully this year.

March/April if we go according to the past 2 years.

IMO, the Insiders will lead the way before any RNS;

also, if not mistaken the annual AFS 'd be out by 31 Jan? So we'd get an update on the status, if no other RNS, by then?

And can someone advise re the FDA rules? Does the 90-day restarts from 0 (-to 90 days again) if a query is asked by the FDA? If so, then are we about 60 days within the 2nd clock ticking? I mean, if the FDA needed 90 days for a fully completed application, why would they need more than 90 days to handle a query/pending point emanating from the original submission?

They sold 56 LXs (incl. 10 shipped now) in the whole of 2025, whereas MWater had sold 2900 up to y/e 2020!! So imagine the potential for reagent sales once they get these LXs back on track.

Some more numbers; so, we already have 250k in Q1 from the Qataris, plus 110-120k from the 10 LXs, i.e. 360k min; plus (12 LXs in H2 = 130-140k, meaning 370k revenue from reagents/SRBs etc) another 500-600k from reagents/SRBs in H1, plus more LXs beyond the 10 being shipped?

We are, thus, looking at Revenues in H1 of -min- 1mln, excluding any deals for PFAs, PD detector, additional LX sales, FX sales, and more CTMs sold in the MEast. DYOR

1500k for FY25, minus 900k in H1 leaves 600k in H2? Seems like LXs production dropped. 46 sold (10 shipping out soon) for FY but 34 sold in H1.

Let's see how the Mkt reacts.

This is also a bit of a wild guess but, switching the Auditors to KPMG might be a sign of things to come? If cash is low, why use a more expensive Auditor? Unless, maybe, you a) see things already improving and/or b) you want to appeal to some serious investors/partners/counterparties?

Call me crazy but, despite the past, I'm optimistic about 2026; Co starting to reduce debts (CLoan, Directors' accrued fees), Directors taking shares (at our expense though) in lieu of cash (almost GBP150.000 worth!), Contguard paying cash for orders, possible developments with joint ventures and close to, or at, B/E for H2 2025 (IMO).

2p in a few months will seem to have been an absolute bargain (says my biased self!). GLA, looking fwd to the Trading update in a few weeks.