NFX24 May 2019 18:27
It is well known that usually a drug has to go through Phase 1,2 &3 trials and can cost up to $1bn to develop.If successful,the rewards are huge otherwise pharma's wouldn't bother.NXP001 doesn't have to do this.All it has to do is prove it's 80% bio-equivalent to existing drugs.We know from the recent RNS that with regards to the human tests,all patients were discharged safely without any adverse effects and our Chinese partner was happy to pay another milestone payment.
The fact that Dan has recently been in China discussing fastest routes to market makes me confident that we will receive the next £2m milestone payment shortly.The CINV market is huge and with our recent cannabinoid deal and NXP002 being developed,I can see NXP being a takeover target.With Dave Tapolczay as non-exec Chairman (previously of the phenomenally successful LifeArc) and DG we are in excellent hands.
I honestly believe that the talk of £100m m/c is underselling the company IF NXP001 is successful.Pharma share prices have a habit of moving very quickly and it wont be long before II's start investing here as our m/c increases.Dan did say the data would be available in May.Presumably they will be pouring over it,assessing it etc,hence I expect to hear results in June.That gives us a chance to reach base camp and beyond.