New Risk • Mar 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 20% per year over the past 5 years. Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£4.83m market cap, or US$6.42m). Duyuru • Mar 18
Nuformix plc has completed a Follow-on Equity Offering in the amount of £1 million. Nuformix plc has completed a Follow-on Equity Offering in the amount of £1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 500,000,000
Price\Range: £0.002
Transaction Features: Subsequent Direct Listing Duyuru • Mar 11
Nuformix plc has filed a Follow-on Equity Offering in the amount of £1 million. Nuformix plc has filed a Follow-on Equity Offering in the amount of £1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 500,000,000
Price\Range: £0.002
Transaction Features: Subsequent Direct Listing Duyuru • Feb 06
Nuformix plc, Annual General Meeting, Mar 03, 2026 Nuformix plc, Annual General Meeting, Mar 03, 2026. Location: the offices of arch law, level 2, huckletree, 8 bishopsgate, ec2n 4bq, london United Kingdom New Risk • Nov 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (158% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£5.32m market cap, or US$6.99m). Minor Risk Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Duyuru • Nov 12
Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.228081 million. Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.228081 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 114,040,535
Price\Range: £0.002
Transaction Features: Rights Offering Duyuru • Oct 28
Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.228081 million. Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.228081 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 114,040,535
Price\Range: £0.002
Transaction Features: Rights Offering Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. Executive Director Dan Gooding was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Duyuru • Aug 13
Nuformix plc Announces US FDA Orphan Drug Designation Application Submitted for NXP002 Programme in IPF Nuformix plc announced, further to the Company's announcement on 29 May 2025, that the European Medicines Agency ("EMA") had granted Orphan Drug Designation ("ODD") in Idiopathic Pulmonary Fibrosis ("IPF") for tranilast, the active drug substance enabled for inhaled delivery in Nuformix's NXP002 lead programme, that the Company has now submitted an application to the US Food and Drug Administration ("FDA") for ODD in the United States using FDA Form 4035. The components required for the submission of Form 4035 included: information about Nuformix and the drug product; description of the rare disease or condition of interest, along with reasons why such therapy is needed; scientific rationale for the use of the drug for the rare disease or condition; a summary of the regulatory status and marketing history of the drug in the United States and in other countries; and documentation to demonstrate that the disease or condition meets qualifications to be a rare disease, defined as a disease or condition affecting fewer than 200,000 individuals in the United States. The FDA will now review the application and, within 90 days of receipt, issue a designation letter, a request for more information or a denial. If ODD is granted, Nuformix may be eligible for certain benefits such as tax credits for clinical trials or qualified clinical testing costs, a waiver of the Prescription Drug User Fee Act application fee when a marketing application is submitted, and the potential to receive seven years of marketing exclusivity upon product approval. Duyuru • May 22
Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.21 million. Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.21 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 300,000,000
Price\Range: £0.0007
Transaction Features: Subsequent Direct Listing New Risk • May 05
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£554k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£554k free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 27% per year over the past 5 years. Shareholders have been substantially diluted in the past year (104% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£2.09m market cap, or US$2.77m). Duyuru • Apr 10
Nuformix plc Announces Positive Results from Analysis of Lung Tissue from IPF and Autoimmune ILD Patients Nuformix plc announced results following the re-analysis of data from previous studies of NXP002 in a precision-cut lung slice disease model using tissue explanted from lung-transplant receiving patients with idiopathic pulmonary fibrosis ("IPF") and autoimmune-related interstitial lung disease ("ILD"). The data re-analysis undertaken was an outcome of on-going discussions with potential licensing and development partners for NXP002. In addition to patients with IPF and progressive pulmonary fibrosis, patients suffering from autoimmune ILDs (e.g. rheumatoid arthritis or systemic scleroderma) also have a high-m mortality progressive fibrotic disease course which is not currently adequately treated. In addition to lung tissue from seven IPF patients, NXP002 has been studied in tissue from an autoimmune ILD explanted lung (in this case from a patient diagnosed with non-specific interstitial pneumonia or NSIP). This data was revisited to compare key biomarker changes in tissue in response to NXP002 treatment using an 'area under the curve' (AUC) based approach, considering total biomarker expression during the treatment period. These new results are summarised as follows: A clear dose response to NXP002 was observed across both extra cellular matrix biomarkers and pro-fibrotic mediators suggesting NXP002's activity in additional pathways to standards of care; A consistent and significant effect of NXP002 was observed alone and in combination with standards of care across both biomarker types in all donors; When the Col1A1 gene was found to be overexpressed in tissue, representing active fibrotic disease and tissue turner, NXP002 consistently attenuates it's expression. When Col1A1 is not overexpressed Col1A1 is maintained, which may point towards NXP002's role in ECM homeostasis and supporting healthy tissue repair and regeneration, consistent with the evidence base describing positive results from clinical studies of tranilast in a range of fibrotic diseases; and The autoimmune-ILD donor studied also showed a significant response across both biomarker types alongside the seven IPF donors confirming that NXP002's activity translates well to autoimmune-derived ILDs. Duyuru • Feb 18
Nuformix plc, Annual General Meeting, Mar 20, 2025 Nuformix plc, Annual General Meeting, Mar 20, 2025. Location: the offices of shakespeare martineau llp, 6th floor, 60 gracechurch street, ec3v 0hr, london United Kingdom New Risk • Jan 30
New major risk - Revenue and earnings growth Earnings have declined by 8.0% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (33% average weekly change). Earnings have declined by 8.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.21m market cap, or US$1.50m). Duyuru • Jan 30
Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.16875 million. Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.16875 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: £0.000675
Transaction Features: Subsequent Direct Listing New Risk • Jan 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 91% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Shareholders have been substantially diluted in the past year (91% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (UK£851.6k market cap, or US$1.05m). Minor Risk Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). New Risk • Jan 05
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£409.7k market cap, or US$509.1k). Minor Risks Latest financial reports are more than 6 months old (reported March 2024 fiscal period end). Shareholders have been diluted in the past year (10% increase in shares outstanding). Duyuru • Nov 06
Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.3 million. Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.3 million.
Security Name: Ordinnary Shares
Security Type: Common Stock
Securities Offered: 440,000,000
Price\Range: £0.0005
Security Name: Ordinnary Shares
Security Type: Common Stock
Securities Offered: 160,000,000
Price\Range: £0.0005
Transaction Features: Subsequent Direct Listing New Risk • Aug 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£438k free cash flow). Share price has been highly volatile over the past 3 months (10% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.35m market cap, or US$1.72m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). New Risk • Jun 20
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -UK£438k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£438k free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (UK£1.47m market cap, or US$1.87m). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (16% increase in shares outstanding). Duyuru • Mar 07
Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.15 million. Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: £0.002
Transaction Features: Subsequent Direct Listing Duyuru • Mar 03
Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.15 million. Nuformix plc has filed a Follow-on Equity Offering in the amount of £0.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 75,000,000
Price\Range: £0.002
Transaction Features: Subsequent Direct Listing New Risk • Jan 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of British stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£364k free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£2.23m market cap, or US$2.84m). Minor Risk Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Duyuru • Jan 16
Nuformix plc, Annual General Meeting, Mar 19, 2024 Nuformix plc, Annual General Meeting, Mar 19, 2024, at 14:00 Coordinated Universal Time. Location: offices of Shakespeare Martineau, 6th floor, 60 Gracechurch Street, London, EC3V 0HR London United Kingdom New Risk • Dec 08
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£433k free cash flow). Revenue is less than US$1m. Market cap is less than US$10m (UK£2.20m market cap, or US$2.75m). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Duyuru • Oct 24
Nuformix plc Announces Notice of Allowance of NXP002 Patent in Japan Nuformix plc announced that it has been issued with an Official Decision to Grant Notice of Allowance for Japanese National Phase Patent Application No.2020-555115entitled "CRYSTALLINE TRANILAST SALTS AND THEIR PHARMACEUTICAL USE". XP002 is the Company's lead asset and a potential novel inhaled treatment for Idiopathic Pulmonary Fibrosis ("IPF"). The granted patent describes a proprietary new form of the drug tranilast, uniquely enabling delivery via an inhaled nebulised formulation. Nuformix owns two patent applications relating to crystalline forms of tranilast, one of which had already been granted globally. This second patent application, which as has already been granted in the US, specifically addresses the novel tranilast forms being progressed by the Company as a potential novel IPF treatment. New Risk • Aug 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 4.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-UK£433k free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (UK£2.08m market cap, or US$2.62m). Minor Risk Shareholders have been diluted in the past year (4.9% increase in shares outstanding). Duyuru • Aug 01
Nuformix plc, Annual General Meeting, Aug 24, 2023 Nuformix plc, Annual General Meeting, Aug 24, 2023, at 09:00 Coordinated Universal Time. Location: offices of Shakespeare Martineau, 6th floor, 60 Gracechurch Street, London, EC3V 0HR London United Kingdom Duyuru • May 19
Nuformix plc Announces Update Regarding the NXP002 Programme Nuformix plc announced the following update regarding the Company's NXP002 programme, a proprietary new form of tranilast, being developed as a novel inhaled treatment for Idiopathic Pulmonary Fibrosis ("IPF"). The Company recently announced that it was undertaking studies measuring NXP002's modulation of inflammation-related biomarkers alone and in combination with current IPF standards of care ("SoC") in a novel 3D human IPF lung tissue model, in addition to the use of an exploratory healthy human lung tissue model to investigate NXP002's duration of action. Following success in supressing biomarkers of fibrotic disease progression in human IPF lung tissue, the same samples were analysed to assess additional mechanistic and anti-inflammatory benefits on top of SoC's and the results are summarised as follows: NXP002 alone delivers a strong, consistent anti-inflammatory effect as demonstrated by suppression of the release of inflammatory cytokines by over 90% for all cytokines studied; Both high and low concentrations of NXP002 show an additional anti-inflammatory effect in the presence of SoC's and enhance their anti-inflammatory performance; This effect is most pronounced for MCP-1, which is most closely linked with the progression of IPF. The results further suggests that NXP002 will provide additional efficacy in combination with SoC's, even in patients responding to SoC therapy alone. The data also continues to support the possibility that NXP002 targets additional disease pathways to SoC's, increasing the combined anti-fibrotic and anti-inflammatory responses. Overall, the results strengthen NXP002's potential to increase efficacy of existing therapies with the benefits of inhaled delivery (e.g. added efficacy without increased side effects). They also support NXP002's potential as a monotherapy for patients non-responsive to SoCs and those declining these therapies due to side effects which impact quality of life. Duration of Action Demonstration of a prolong. Reported Earnings • Jul 28
Full year 2022 earnings released: UK£0.002 loss per share (vs UK£0.002 loss in FY 2021) Full year 2022 results: UK£0.002 loss per share (vs UK£0.002 loss in FY 2021). Net loss: UK£1.11m (loss narrowed 12% from FY 2021). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Reported Earnings • Dec 15
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: UK£0.001 loss per share (vs UK£0.001 loss in 1H 2021). Net loss: UK£449.0k (loss narrowed 5.4% from 1H 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 16
Full year 2021 earnings released: UK£0.002 loss per share (vs UK£0.002 loss in FY 2020) Full year 2021 results: Net loss: UK£1.25m (loss widened 66% from FY 2020). Products in clinical trials Phase I: 1 Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Executive Departure • Jun 02
Senior Independent Director has left the company On the 24th of May, Karl Keegan's tenure as Senior Independent Director ended after 1.3 years in the role. We don't have any record of a personal shareholding under Karl's name. A total of 4 executives have left over the last 12 months. Executive Departure • Jun 02
Chief Scientific Officer & Director has left the company On the 31st of May, Joanne Holland's tenure as Chief Scientific Officer & Director ended after 3.6 years in the role. As of March 2021, Joanne personally held 37.50m shares (UK£844k worth at the time). A total of 4 executives have left over the last 12 months. Executive Departure • Feb 11
Non-Executive Chairman Christopher Blackwell has left the company On the 10th of February, Christopher Blackwell's tenure as Non-Executive Chairman ended after 1.0 years in the role. We don't have any record of a personal shareholding under Christopher's name. A total of 2 executives have left over the last 12 months. Reported Earnings • Dec 28
First half 2021 earnings released: UK£0.001 loss per share First half 2021 results: Net loss: UK£474.7k (loss widened 260% from 1H 2020). Duyuru • Dec 10
Nuformix plc Appoints Anne Brindley as Chief Executive Officer Nuformix plc announced the appointment of Dr. Anne Brindley as Chief Executive Officer with immediate effect. Anne was previously CEO of Advent Pharmaceuticals Pty Ltd. In that role, Anne led a successful sale of the products and assets to AuroScience Pty Ltd. She subsequently became CEO of AuroScience Pty Ltd. Duyuru • Dec 03
Nuformix plc Announces Appointment of Madeleine Kennedy as Non-Executive Director and Chair of the Audit Committee Nuformix plc announced that Madeleine ("Maddy") Kennedy, FCCA, will join the Board of Nuformix as a Non-Executive Director with immediate effect. Maddy will be appointed as Chair of the Audit Committee. Maddy is currently CFO and Board Director of Concepta PLC and CFO of CFO4Growth Limited. She has previously acted as interim CFO for Ieso Digital Health Ltd. and PsiOxus Therapeutics Ltd, was CFO for Lab21 Limited and Finance Director at Alliance Pharma plc. Duyuru • Nov 25
Nuformix plc Appoints Julian Gilbert as Non-Executive Director Nuformix plc announced the appointment of Dr Julian Gilbert to the Board of Nuformix as a Non-Executive Director with immediate effect. Julian has more than 30 years of commercial and technical experience in the pharmaceutical industry gained at a number of companies including Chiroscience Plc, Mundipharma International Limited, British Technology Group plc (BTG) and Smith Kline & French. Most recently, Julian was co-founder and CEO of Acacia Pharma Group plc. Julian resigned from Acacia on 31 July 2019. Prior to Acacia, he was co-founder and Commercial Director of Arakis Limited. Julian has worked in business development since 1992 and has led multiple business development projects. Julian will be appointed as a member of the Nomination & Audit Committees. Duyuru • Oct 08
Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.65 million. Nuformix plc has completed a Follow-on Equity Offering in the amount of £0.65 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,214,285
Price\Range: £0.028
Transaction Features: Subsequent Direct Listing Duyuru • Sep 24
Nuformix plc Signs an Exclusive Option Agreement with Oxilio Ltd for NXP001 Nuformix plc announced that it has signed an exclusive option agreement with Oxilio Ltd. Under the terms of the agreement Nuformix will also provide a fixed amount of consultancy services to Oxilio during the option period. Oxilio will develop and seek to exploit NXP001 globally for the treatment of cancer and early clinical trials will determine which cancer types respond best to treatment. Cancer is the second leading cause of death globally with around 10 million deaths per annum, in spite of extensive studies to find new treatment regimens and more effective drugs. However, the cost of cancer treatment is increasing, in large part due to the expense of taking drugs through clinical trials where historically there is a very low rate of success. Therefore, there is an urgent need to develop safe, effective, and readily available anticancer agents. Oxilio is focused on developing a therapeutic with the potential to treat patients with various cancer types representing a global therapeutics market estimated to be more than $130 billion. Oxilio is focused on alleviating the current dilemma of a shortage of drug candidates for finding new cancer therapies, by adopting a drug repurposing strategy (identifying new uses for approved or investigational drugs that are outside the scope of the original medical indication). The major advantage of this approach is that the pharmacokinetics, pharmacodynamics and toxicity profiles of these drugs are already reasonably well established. Thus, drug repurposing may hold the potential to result in a less risky development route with substantially lower associated development costs. The collaboration with Nuformix allows Oxilio to focus on developing rapidly a unique formulation and dosage form with NXP001. This would potentially overcome the key hurdle in drug repurposing, patent consideration-induced market exclusivity, as well as providing an accelerated route to the clinic. 