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Are these really all the questions and answers?
They appear to have been written to deliberately avoid giving anything away.
However the major positive I take from these is that the 002 and 004 studies are going well with positive results so far, and I guess that they must be in the final straight now. So looks promising. I am hoping for positive 004 RNS say in about 6 weeks and a positive 002 RNS in about 10 weeks for both the studies - although I would prefer if they could RNS them earlier separately.
Hi Sentiment-Attack
'They have been pacified and their outlook excellent imo'
Who are 'they' and what makes you think ' their outlook excellent '?
Just curious.
ATB
I agree with the general comments - a sad situation.
But looking at many pharma stocks they are down to about half of what they were 6 months ago, or even 3 months ago.
Here the total lack of news and optimism are taking their toll here.
Are we at/ close to the bottom?
Hoping that AGM comes to the rescue with some positive news flow being released .
The level of posts has hit rock bottom here.
The SFO - oh yes and the Sweeney whilst your at it.
But at least point out the true outlaws - DT and AC who slyly bailed under questionable circumstances.
To a lesser extent there is Dan who, had he been more experienced, would have done a large placing in Q4 2019 (10% to 20% placing) and who's hubris led us into these difficulties by not creating contingency funds to undertake an alternative path when the 'guaranteed' NXP002 negotiations stalled in early 2020. However incompetence is not usually a crime.
But Anne Brindley only joined after the damage had been well and truly done. She has done what Nuformix needed and if the results are as she, the bod and the shareholders hope for then it will trigger negotiations for NXP002 and NXP004 and a humungous rise in the share price from this parlous state.
Here's hoping.
This is a bit different to before.
Before there was the looming deadline for Oxilio to confirm they would be taking up the option in conjunction with the twitter crowd pumping the sp to enable the lucky 2p new shareholders to exit with a quick profit.
Now, assuming there are no leaks, there is nothing to give us a heads up to what news may be coming.
We can only hope that Oxilio deal finalises and that we get a good positive update on the NXP004 and NXP002 work in progress.
Here's hoping for some positive surprises - we deserve it.
ATB
Thanks FFXS
Unfortunately my broker is not so helpful. I will have to ring them to get a letter of confirmation of holding.
Thanks anyway.
By the way, I am certainly not saying we are worth £300m.
I am saying there are pharma companies out there with similar skeleton (virtual) management and employee situations who are doing very well.
We need the positive study results to trigger deal discussions, as per Alistair Riddell interview, and investor confidence.
SO if the study results in a few months time are positive then we are certainly worth a lot more than our current paltry £8m, several times more I believe.
Sorry for hurried messages - but juggling lots of stuff.
I will get letter from brokers just in case I can make it to the AGM. Although does not say need one.
Is anyone else likely to be going?
Just a thought .
Someone posted on twitter a couple of weeks ago about similarities between SAR and NFX in the fact that they also are just a few chiefs (5) and just one indian (1) and have little in the way of cash and outsource all their studies.
SAR are worth £300m having X5 in the last few months and NFX are £8m.
Now IF the Nxp002 studies and NXp004 study are positive ......... well who knows - can but dream.
GLA
Thanks Soup. Does not seem to state what requirements for attending the AGM are. Do we need to take a letter from our brokers confirming our shareholding as most AGM's require - certainly if wish to vote?
What is the requirement for attending the AGM on 24th August .
For some reason (probably stupidity) I cannot locate the detailed AGM info.
Thanks.
It does sound like potential partners/ buyers already have their sights on Nuformix and if the expected results are achieved in the studies then that will trigger negotiations.
I believe Anne and the board will be formulating a preliminary negotiation framework over the coming months in anticipation of good results - Julian Gilbert has very useful experience in this area.
GLA
Tend to agree Whimax.
ForFXSake pull yourself together.
Anne got funding to see us through the structured data studies and to negotiations. Several studies for NXP002 and NXP004 are well under way. The structured data programme will be largely in place or done by the time she departs. Her successor will probably be chosen because they endorse and will build on the structured data programme she has initiated.
The company is in safe hands for the next 6 months with Anne largely finishing what she has instigated - Joanne Holland is in a supporting role.
The company has funds for the next year or more - enough to get through the pre-clinical studies and to being able to discuss with potential partners.
There are 6 months to get a new suitable CEO in place.
Can but cross fingers and hope that things come together over the next 6 months.
GLA
Exactly Mozax
Anne sees the fruits of her recent NFX work through to success - then moves to fantastic new job.
I can guarantee that if there was any hint that things were not going well/ as planned then she would not be staying for 6 months.
Disappointed that Anne is leaving. But is she has been offered an exceptional offer then cannot blame her - we would probably do the same thing..
But she is staying in place for 6 months to see the pre-clinical studies though for NXP002 and NXP004. So that shows to me that she is committed and that she expects good results from them.
Perhaps Dan is the man to get back - hopefully Anne should have largely organised and sorted the pre-clinical work in next 6 months and made initial contacts with potential partners - then Dan returns and picks up the reins.
Lets hope
ATB
Totally agree Soup - its a potential big positive.
I think Anne and Joanne have done a great job getting several studies up and running so quickly. Anne comes across as very considered and capable.
Soup - I have been under impression that at least two studies have been under wy on NXP002 for some time now.
Following taken from 01 June RNS
They say studies in the plural.
'NXP002 is the Company's pre-clinical lead asset and a potential novel inhaled treatment for Idiopathic Pulmonary Fibrosis (IPF). It is a repurposed, new form of the drug tranilast, to be delivered in an inhaled formulation. As previously communicated, Nuformix planned to perform additional pre-clinical studies to generate a more robust data package with the goal of increasing the value of this asset and rendering it more attractive to licensing partners. Since completing the successful fundraise in March 2021, studies have commenced on these activities through outsourced expert contract organisations.'
Could well see them awarded options in coming days - now that sp so low.
Hopefully some positive news soon.
ALB
Agree - not much we didn't already know.
A little more information on current R&D activities etc and the potential of their drugs.
It may be the white stuff I sprinkled on my cornflakes BUT overall I do get a better sense of optimism about the companies future.
“As we continue to execute on our strategy, we are building momentum with the ultimate aim of delivering value to shareholders."
“The team remains energised by the potential of our pipeline and business strategy”
"We remain highly encouraged by the outlook for the business and look forward to providing further updates as we execute on our strategy."
I wonder whether they already have some initial data from current R&D to encourage them.