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I agree Chablard which is why I have bought more this morning.
I think this will do very well once the impatient traders move on.
GLA
This is excellent news which the market will (eventually) wake up to.
The 004 patent news provides the following:
• 10 year licensing extension on existing blockbuster oncology drug
• Improves the drug by reducing side effects
• Because of the reduced side effects the drug could now be available to be used in other therapeutic areas
• I has apparently already shown promise in fibrosis use
Now the second patent is submitted Nuformix will formally approach the originator and start discussion/ negotiations.
Then 002 news to come shortly.
I think this could well be another SAR
In the 22 mar 2021 RNS the following was stated:
'NXP004 (undisclosed drug) - Oncology
The Company has discovered novel forms of an undisclosed marketed oncology drug that has significant sales (more than £1 billion per annum in 2020) and is showing further growth. The Company has filed one patent application on these novel forms and is currently conducting further research on other new forms and their properties. Should the further research warrant it, the Company may file an additional patent application. In addition, the Company is evaluating the potential advantages of the new forms that have been discovered. If the patents on these new forms are granted there is potential for patent expiry to extend to 2040/2041. While there is literature data and preliminary preclinical data generated by the Company providing evidence for this drug's potential activity in fibrosis, it is the Company's strategy that in order to derive most value from the NXP004 asset, the opportunities in oncology should be exploited as a priority.
Should the further research be positive, there are two potential options for licensing the Company's IP to generate value from NXP004:
· license to the originator of the marketed drug to potentially extend its patent protection, thus potentially adding significant value for the originator; or
· license to generic companies to potentially allow commercialisation of a generic alternative to the marketed drug.'
The following was stated in the 22 Dec 2020 RNS
'NXP004 uses Nuformix proprietary technology applied to the active drug of a multi-billion-dollar product currently marketed for oncology indications. Despite the commercial success of the marketed product, side-effects pose a significant challenge to its existing use and extension into new indications, that could also benefit from its mechanism of action. We are currently evaluating new IP that could overcome some of the challenges posed by the originator's formulation.
Additionally, in August, the Group reported results from a pre-clinical pilot study evaluating the anti-fibrotic and anti-inflammatory effects of NXP004 against standard of care, a therapeutic area not currently exploited by the originator of the drug. We will confirm next steps in Q1 2021.'
So much potential with much reduced side effects and therefore enabling new therapeutic areas to be commercialised for the existing major pharma.
Would be nice to see Nuformix website updated with Riddell move to Exec Chairmen and this latest news on or are they waiting for imminent 002 news to update them all at once?
Once the one day wonder investors have cleared off this should rise over the next days and weeks as the value investors see the huge potential here.
No wonder Alistair Riddell was happy to become Exec Chairmen - he knew that good news was coming on 004 and presumably 002 too.
Brilliant news.
Now that the new patent has been filed Nuformix will now initiate discussions with the billion pound a year pharma company.
Things could speed up from here.
Why is there an assumption that Anne finishes on same day that Riddell becomes Exec Chairman?
The RNS on 21st July stated the following
'Anne will continue in her current position for the next six months and has committed to assist the Company with an orderly transition for that period'
That would mean that Anne leaves on the 21st January, or thereabouts.
Riddell becoming Exec Chairmen was always a strong possibility and could have been formalised any time before Anne leaves, so I do not see the rationale for saying Anne will leave on same date..
OR it might mean that NXP002 would be required/ much better as the basis for lymphatic delivery too - if indeed that is a future option.
I believe that one of the major problems with using 'vanilla tranilast' was its extremely poor solubility - which Nuformix's NXP002 overcomes.
Good solubility is usually a key aspect for most drug delivery mechanisms and presumably is even if it is delivered via the lymphatic system.
It certainly is a funny old world - when the most persistently vocal shareholders are so negative on an almost daily basis and then bleat about the share price being low?
Soup - what questions would you have asked that the BOD would have given an answer to - and why didn't you go to the AGM to ask them or send in your questions as requested?
Just an observation.
Excellent post Soup - really interesting stuff.
Oxilio aspect is particularly interesting -in conjunction with the comments 'TRx has created a business model offering immense speed of product development' and “The exciting aspect for us is that (Oxilio) clinical trials are an opportunity to treat patients and it’s possible that we may be able to treat patients in late 2022 or early 2023. For a technology that’s so disruptive, that’s incredibly fast.”
So stage payments from Oxilio to Nuformix may be sooner than previously thought.
I am just wondering whether their technology is relevant/ advantageous to NXP002 or NXP004?
Things are moving fast in all sorts of directions!
Hopefully studu results very soon.
GLA
You may be right Soup - so that is something to be aware of , for others like me, who are not paid up members of LSE site - do not rely on LSE trade data after about 15.00 it will probably not be complete.
As you say Goup - 'strange'.
It seemed to spook a few into a short term sell-off. So was it an innocent error? or something else ? Usually when a trade correction is shown (-ve)the two trades have the same price !
It is not just NFX shares they do not show all trades for - I have checked other stocks and London South East has not shown many trades from late afternoon which The London Stock Exchange website does show.
This can be very misleading - often large trades will be shown as after 17.00 hours .
Why does LSE not show all trades? It often does not show trades from late in the afternoon and did/ does not show the 2,800,000 buy at 1.325p at 17.06 on 27-09-2021 buy that Soup refers to either.
The London Stock Exchange site clearly shows it currently, see https://www.londonstockexchange.com/stock/NFX/nuformix-plc/company-page
Oh forgot to say.
At some point after they start discussions with the drug originator then the need for commercial secrecy presumably goes and only then could they inform shareholders of the drug involved.
Hi Soup interesting comments re potential dru, etc
Just to add to your comments on NXP004.
I was informed a while ago, from communications with Nuformix, that if the results of the research study were positive Nuformix would be submitting a further patent, and that as soon as the patent submission was filed they would be in a position to start discussions with the drug originator - they would not have to wait the further 18 months or so for the patent to be granted before talking to the drug originator.
So, I wonder if they could already have those results (either preliminary or full results) and JH may already be working with AB on a patent application. So may just depend upon how long the patent search and submission process takes before deal negotiations for NXP004 can start. Presumably much of the patent work could have been done in anticipation of positive results - but that may be my wishful thinking.
Oxilio deal agreed and signed - finally!
Good to see some share buying from the Chairman.
Also good to see Proactive interview with Anne.
Both indicate , directly or indirectly, that 004 and 002 studies are progressing well - these are the potential game-changers for Nuformix.
Just need the sp to reflect the news and the potential here.
GLA
I think the new BOD are being deliberately cautious in their statements, partly due to their background but largely due to the over-optimistic statements made by DG which must be haunting them.
They are certainly keeping their cards close to their chests.
Could be that if I and others had attended the AGM we might have got a better feel for the situation.
From previous attendance at company AGM's I have found that things are often said in the questions session or even informally that do not get reported, it might just be a small comment but it can sometimes be very telling if the directors are in a talkative mood. Oh well opportunity lost.
Anyway some good news in there.
GLA