RNS progressing on-going discussions with potential partners28 May 2026 07:02
28th May 2026
Nuformix plc
("Nuformix", the "Company" or the "Group")
Half Year Report
Nuformix plc (LSE: NFX), a pharmaceutical development company targeting unmet medical needs in fibrosis and oncology via drug repurposing, announces its unaudited results for the six months ended 31 March 2026.
Operational highlights
· The Board continues to believe that NXP002, Nuformix's lead programme, offers a potentially significant treatment for progressive fibrosing interstitial lung diseases ("ILDs"), including Idiopathic Pulmonary Fibrosis ("IPF") and Progressive Pulmonary Fibrosis ("PPF"), and is focused on generating data and further progressing on-going discussions with potential partners that is expected to support its efforts to secure a licensing, option or collaborative agreement for NXP002.
· During the period the Company announced that the U.S. Food and Drug Administration ("FDA") had granted Orphan Drug Designation ("ODD") in IPF for tranilast lystate, the active drug substance enabled for inhaled delivery in NXP002.
Financial Highlights
· Loss on ordinary activities (after tax credit) of £346,577 (31 March 2025: loss of £376,668)
· Loss per share 0.02p (31 March 2025: 0.03p)
· Net assets of £1,636,439 (31 March 2025: £807,653) including £930,283 of cash and cash equivalents at 31 March 2026 (31 March 2025: £97,911)
· In November 2025, an oversubscribed open offer raised gross proceeds of £228,081 through the issue of 114,050,535 new ordinary shares at a price of 0.2 pence per share.
· In March 2026, a subscription for 500,000,000 new ordinary shares at a price of 0.2 pence per share raised gross proceeds of £1,000,000.
Dr Dan Gooding, Executive Director of Nuformix, said: "Our on-going research efforts and progressive external discussions to date validate that inhaled treatment of IPF and related fibrotic lung diseases via NXP002 remains a viable and attractive concept. In March 2026 we were delighted to receive news of the FDA's award of Orphan Drug Designation in IPF for NXP002. Given the EMA's award of the same, these achievements support the plausibility of our differentiated approach, targeting fibrosis resolution and restoration of tissue function, whilst allowing healthy repair, which has been very helpful in advancing partnering discussions. The March placing proceeds are allowing us to generate value-enhancing data and progress the NXP002 programme, aligning with feedback from potential partners and supporting our focussed efforts to secure an out-licensing partner for NXP002. I remain excited by our future prospects and look forward to providing further updates in due course as appropriate."