Member Info for olderbutwiser

Not unusual for buys to be shown as sells.
Just means that you bought them at a slightly better price than the mid-point of the advertised bid/ ask implies.

Shows that IMM have been pleased with the previous Lanstead subscriptions in earlier years - otherswise they would not have used them again.
However glad our bod did not issue warrants with the subscription.

The fact that the company has agreed that Lanstead will only start selling down the tranche ! shares after 17th February 2022 for a first payment to Nuformix after March 2022 is intriguing.

Agree about the subscription happening now - why not wait 4 months until April next year when they could have done it in one hit rather in this split form? We seem to have just under £1m in cash at present so surely no rush?
The only reasons I can think is that (1) Lanstead were offering the 2p benchmark and that the bod strongly felt that they should accept Lanstead before imminent newsflow increased the sp and the benchmark figure with it and (2) they possibly wanted to get longterm funding in place to attract new CEO/ Business development director.
AR and AB are no fools (hopefully).

We have brilliant results for 004 and 002.
Now pursuing licensing deal for 004 to extend patent life and reduce side effects of a market leader £billion a year oncology drug, negotiations for which could be revealed in coming weeks/ months.
Will start to pursue licensing deal for 002 - a potential £billion a year drug for IPF.
We now hopefully have funds in place to get 002 pre-clinical phase completed.
New CEO and further positive results expected shortly.
The company is now in a very strong position, compared to 9 months ago, with massive potential on the horizon and yet the sp is on the floor.
I see a massive buy opportunity.
Tally ho
GLA

The first selling of Tranche 1 shares by Lanstead will happen after 17th February for payment to Nuformix after 17th March.
I believe there will be positive news releases before then to bolster the sp.
I understand your frustration FFS - I am also frustrated but also a lot more optimistic than I was a few months ago - we have really positive results for both NXP004 and NXP002 now - so good in fact that they are undertaking extra research to add to and strengthen our patent IP even further in order to further increase the licensing value achieved.
With the best part of £1m in cash I hoped that such a funding would not happen for some time - but it seems that, based upon the excellent results achieved, they are going all out on all fronts: on the NXP004 additional patent data, the NXP002 preclinical studies and business development for both NXP004 and NXP002 licensing.
A lot of success has been achieved in the last 6 months - we just need the sp to reflect that success.
Just my take on our situation.
Good luck

Allenby say 'We adjust our projected March 2022 cash to about £940k.'
Then you have to add the £1.65m nominal proceeds from the Lanstead subscription (assuming the sp is an overall average of 2p)
So that gives Nuformix £2.6m.
If they get an overall average of 2.5p then they will have funding of £3m.
So hopefully we should now have enough to get NXP002 phase 1 ready and undertake the business development to license it out.
AR appears to be very a cautious character and I do not think he would have entered into this agreement if he did not think they had sufficient good news coming along to raise the sp at least to the 2p level.
I think the new CEO is imminent and I also believe NXP004 licensing will push the sp up over the next few months.
GLA

FFS - Tranche 1 share selling not for couple of months
Taken from the subscription RNS
‘The monthly settlement amounts for the First Sharing Agreement are structured to commence approximately three months following Admission of the First Subscription Shares.’
So we have a couple of months for the share price to hopefully rise and then from about 17th February until 17th March will be the share price qualifying period for the first monies from Lanstead, which will be paid around 17th March.
OR am I reading it wrong?

Agree with your comments Soup.
Seems a very lazy re-hash of earlier report.
As you say effectively excludes NXP004 - and seems to totally ignore fact that they are now talking about NXP004 licensing with potential licensees.

So we have a couple of months for the share price to hopefully rise and then from about 17th February until 17th March will be the share price qualifying period for the first monies from Lanstead, which will be paid around 17th March.
AR seems very positive about NFX prospects.
GLA

‘The monthly settlement amounts for the First Sharing Agreement are structured to commence approximately three months following Admission of the First Subscription Shares.’
So it will be mid-March 2022 before we get a first glimpse of what this deal means and is obviously dependent upon the sp at that time.
Hopefully business development progress with NXP004 will be evident by then to bolster the sp.

I believe the NXP004 originator will want NXP004 because of the extended patent protection it offers but also because it seems to offer significant potential improvements (less side effects?) to their existing marketed drug, so they could even increase their drugs market share.
Conversely the originator will not want a competitor to get hold of NXP004 as it will mean they lose a £billion a year drug market to a competitor who now has an improved form of their drug and who could then become the market leader.

FFS you say – ‘I also found it odd that he talked about the BD role in relation to NXP002 and not really NXP004. Does that mean that there is less work to do for NXP004 than there is for NXP002?’
My take is as follows:
With NXP002 they are talking about worldwide licensing, not just Asia, so they will presumably have to expend a reasonable amount of time and energy initially exploring who is interested worldwide and the different options on territories etc before they can get into more detailed negotiations with interested companies – it may include Kissei within that mix as a licensee (possibly joint or sole), or indeed may not.
Whereas with NXP004 they know who the originator is and they are obviously the first port of call, so it avoids completely the first phase of business development and all the associated legwork that is required for NXP002.
So, I believe you are correct, there is less work to do for NXP004 than there is for NXP002.

Whimax - you are right - I have just bought a load at 1.149p.

https://www.proactiveinvestors.co.uk/companies/news/969218/nuformix-raises-1-65m-to-fund-r-d-and-to-develop-work-on-drug-candidates-nxp002-and-nxp004-969218.html

Proactive interview with Alastair Riddell - worth watching.

‘The monthly settlement amounts for the First Sharing Agreement are structured to commence approximately three months following Admission of the First Subscription Shares.’
So it will be mid-March 2022 before we get a first glimpse of what this deal means and is obviously dependent upon the sp at that time.
Hopefully business development progress with NXP004 will be evident by then to bolster the sp.

They now have all the ingredients in place to get a decent new CEO .
NXP004 patents and positive research plus further potential being investigated - and license discussions with originator.
NXP002 positive results - with additional studies proposed - leading to licensing discussions.
Additional funding now in place to see through the next 20 months.
They have made it relatively attractive for new CEO to come in, do the deals and reap the rewards.
I think we will see new CEO announced soon.

What a strong smell of panda s**t.

Agree Soup
As you say a pointless comparison to IMM.
Also should note that their Lanstead subscriptions were at a 25% discount to share price (for £2.66M) and a 6.5% discount to share price (for £1.3m).