Last week I wrote on pharmaceutical development company Nuformix (NFX) “absolutely delighted with the data we've generated”. Er, how’s the balance sheet now?”, concluding still a financial red flags fluttering Sell. What about now following “unaudited results for the twelve months ended 31 March 2023 following the change in the company's accounting reference date from 31 March to 30 September”?
Previously writing on pharmaceutical development company Nuformix (NFX), in December with the shares at 0.375p I concluded that it looked to be hoping for studies excitement and stock market conditions improvement. Following a late-March “NXP002 Update” announcement, now an equity raise announcement.
Previously writing on pharmaceutical development company Nuformix (NFX), in May with the shares falling below 0.50p I noted management chaos follows operational chaos, hopefully warnings heeded!. Co-founder and now again Executive Director Dan Gooding today though argues in half-year results, “I expect our on-going penultimate pre-clinical studies to conclude that our data and IP support the progression of the programme towards patients for whom I believe NXP002 can address both the side effect and efficacy limitations of existing IPF treatment options. We hope to announce results for both NXP002 and NX004 in the near-term”. So what of a 0.375p share price now?
Previously writing on pharmaceutical development company Nuformix (NFX), in February with the shares up to 1.3p I questioned why it was pleased to announce a service contract and concluded to avoid / sell. Now a “Directorate Change” announcement has followed a “Corporate Update”.
Nuformix (NFX) “is pleased to announce that following the company's signing of an exclusive global licensing agreement with Oxilio Ltd for NXP001 on 13 September 2021, Oxilio has progressed the product and signed a significant service contract”. What though of a 29% share price rise in response, to 1.3p here?...
A “Subscription to raise £1.65 million”-titled announcement from pharmaceutical company Nuformix (NFX), with its Chairman Dr Alastair Riddell emphasising “delighted by the confidence shown by Lanstead in the future prospects of the company's products… products address large market opportunities. Importantly, this enables us to hire experienced business development expertise to build on our licensing opportunities for these products to pharmaceutical companies”. So why are the shares currently, at 1.20p, more than 14% lower?...