Member Info for Soupdragon78

FX, I understand where you are coming from, but Dan's hand was forced in boardroom shenanigans rather than by choice.
Jo Holland has moved down to consultancy as the scientific work is now at the stage where it is largely in the hands of CRO's, so there's not actually much for her to do other than sign off what they report.

In fairness to Brindley, the same applies, there not actually much day to day work involved. Oxilio could already be agreed and closed out pending their funding, and NXP002 and 004 are with external sources.

FX, it may just be the simple decision by DG and JH that they believe in the product.

On Brindleys side, it could also be a simple decision that shes been offered something too good to turn down. This was always a risk if she wasn't offered any options or incentive as we discussed recently.

Think I’ll join Offshores call to bring back Dan.

FFS

There's always a risk with every type of deal, that's just life.

Today is just small fry part timers getting nervous again as the company has yet again not told them anything to back up their pumping.

The more I think about it, the more logical it seems. Oxilio will need to make milestone payments to NFX, back as Ox are the ones doing the work they would want an income stream from somewhere to cover it off.

So the Ox licencee pays them on milestone and Ox then pay NFX a piece of that.

Merck were the ones who created Emend which NXP001 is based on so who knows.

Continuing my Oxilio ruminations, its been annoying me that they self valued themselves at £20m mcap despite having absolute zero to their name (other than £600k in the bank) whereas NFX are valued by the open market as less, yet they hold the IP that Oxilio want.

Looking once again at Oxilio's site. They interestingly identify their £20.3m valuation as 'pre-money' and not 'post-money' so in theory they are still waiting valuation.

Long story short, and wondering where their funding is. Maybe they are in talks with an end pharma, and will then back-to-back their deal with NFX license deal. Hence the delay.

And the top is???....

All of those are duplicates of previous trades. As others say just a glitch.

Other than that absolutely zero trades in the first hour..... yay!

Should add, for me its a positive, if they can run them concurrently are shorten the timeline, then that's a good thing.

Agreed Older, the oddity is that the Allenby note does not pick up on this, or at least doesn't appear to do so.

Given they would have been involved in discussions with the company and Anne would have had to sign off the Allenby note, it seems a strange difference.

One thing that I'm pondering is that there seems to be a slight disparity between the Allenby note and what Anne said in interview yesterday.
Anne described (see 2mins onwards) two studies currently underway, one for the in-vitro feasibility of formula for inhaled and the other in-vivo pharmacokinetic and pharmacodynamic studies for its effects when inhaled.

If, as she is implying, they are running concurrently this cuts out a big chunk of time as the Allenby note talks about them running one after the other.

Maddy Kennedy seems to be doing alright for herself, being made CFO and Interim CFO of two other companies in the past two months.
Got to fill the time somehow I guess.

True ganners, but that’s in the past now and didn’t happen. It’s all about what happens moving forward.

If they are in the midst of negotiations for a deal on NXP001 then I can't see how the directors can buy any as they would be insiders.

On revenues, the Allenby note identifies they have enough cash for current workload through to end of 2022 without including any licensing deals, so I wouldn't say desperate.

The business model is now purely about getting NXP002 to the point of outlicensing.

Filter, whilst it would be nice to know what the boards incentives are, it is likely to be commercially sensitive as it would help any adverse competition.
Personally I think its in their contracts as a bonus, in the same way football agents work. i.e. "Develop the product to x,y or z and out-license, for which you will get x% of the transcation value."

As you say FX, the discussion will be around upfront and milestones.

The 2m figure I'm not worried about as it makes sense if you look at what is Ox are doing.

Effectively Ox are a company in the same position as NFX, they are seeking to take a product, reformulated then license on to someone else.

So, say the end result in a number of years for NXP001 (OXL001) is that its in use on the market, with net sales of say £50m p.a. for example.
Oxilio may have licensed it out to a bigger pharma and agreed they would get say 7.5% royalties.
This would mean they are getting £3.75m p.a. in royalties, if they had to then shell out £2m to NFX thats quite a chunk of their royalty. Obviously the bigger the sales the better for them. But I don't think they are expecting OXL001 to be a £1bn blockbuster.

So the £2m cap makes sense as it protects their profit margin particularly in smaller markets.

I get your point, but maybe Brindley etc are incentivised in their contract through a percentage of the transaction?

Would be nice to know who the 'Other warrants' went to alongside Novum and Alex.

Filter, do you think its possible that the board would benefit if the company was bought outright?