Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Hey NFTs are you still thinking Lanstead stopped paying in July and all the SETs trades would stop like you told us so.
Some good old faces speaking at the IPF Summit in Boston next month.
Lee Borthwick of FibroFind talking about the use of Human Precision Cut Tissue slices for Anti-fibrotics testing means NFX will be indirectly on show.
https://ipf-summit.com/seminar/dynamic-fibrogenesis-in-human-precision-cut-tissue-slices-an-unrivalled-preclinical-platform-for-development-testing-of-anti-fibrotic-therapeutics
Also Ghisli Jenkins speaking (he has previously been involved with Nuformix as a consultant)
And Muhunthan Thillai who was also on the Nuformix advisory board.
https://ipf-summit.com/program/speakers/
End of March they had £260k cash, since then raised £70k and will have received circa £70k in Lanstead payments.
They will get a further £87,500 when the warrants are exercised. And can claim a research credit payment as well which will be for at least 30% of costs incurred.
The reponse is about the enablement requirement that patents must achieve, NFX have to add more detail on how to create the tranilast cocrystals so that anyone skilled in the art can carry out the necessary process.
I'm referring to the recent US patent rejection (non-final issued on 31st July 2023) where the examiner has said he does not accept such a wide description and that the company has to revise the patent to a specific treatment.
https://patentscope.wipo.int/search/en/detail.jsf?docId=US339759777&_cid=P10-LL6K3M-05439-1
The question will be which line of inflammation do NFX chose to apply their patent to now that the examiner is saying they need to choose a condition.
As I mentioned, I feel there was never the intention to formally present. Dan only mentioned the ERS in terms of having discussions with other parties.
Even if you're not presenting, its a massive networking event and chance to get in front of the right people.
True, they could have held a massive placing, diluted your holding out of existence, just to speed up the work and satisfy your desire for them to present at the ERS.
You'd have been over the moon with that I bet.
Fx, nuformix can’t change the ERS deadlines.
I think partly due to deadlines to submit to the ERS.
The main submission deadline for papers was in February, then the late submission deadline was end of May so still might have been to tight to fully write up and submit.
Late breaking submissions are now shown within the programme and the company would have been notified by mid July whether they had a place or not.
My feeling is that when Dan mentioned the ERS, he was meaning more about networking and talking to others rather than presenting or poster session.
Exciting! Pity NFX aren’t presenting at the ERS, likely only attending as a visitor.
You can search the Congress programme of companies presenting here.
https://k4.ersnet.org/prod/v2/front/program/?e=379
FX, you need to think about what you're writing. I don't mind critical commenting, but some comments just seem to lack basic thinking and logic. On one hand you say you want an outlicensing then immediately follow it saying that if its not happened by now then its not likely.
The AGM resolutions are there to provide potential avenues should they need them. Its not a binary item that they can only do an outlicensing deal or do a placing. The most likely occurrence is both will happen. Look at other companies such as RedX which outlicenced to AZ in Aug 2020 then formed a partnership with Jazz Pharma for $10m upfront in Sept 2020 and then raised £25m just 3 months later.
It would be business suicide to not have a mechanism to enable funding of some kind as they would then have to announce in the report that they would not have the money to continue as a business.
From my side, I just found it interesting that for the first time in Nuformix history they have included a resolution to allow a rights issue for existing shareholders. If you choose to see that as negative with everything else then thats your perogative.
Thanks for the constructive input Fx. Sounds like you want the company to wind up so you can blame them for your loss rather than make the decision yourself.
'They should be looking to raise funds through licensing deals not share issues'
Come on FX, are you seriously saying that the company should cut off all other avenues of funding on the off chance of someone signing a deal with them. I'm glad you're not signing off the accounts.
Indeed jiving, the buyback is a standard clause that they've had in previous agm years. The rights issue for existing shareholders is new to this years resolution, hence it got my interest.
What bit of it is a concern?
It means they will offer shares to existing shareholders as part of any placing.
AGM resolution 4 (b) is one i've not seen the company put out before. Its quite interesting for holders.
Why would you assume that?
Well if he was serious about exposing ‘ghost biotech’ for what they are then he’d buy one share and attend to address the issue directly.
But I doubt he’s got the guts.