Strategic Cannabinoid Agreement



Can’t believe that there hasn’t been any discussion here for nearly a year. The share price doesn’t reflect what is going on here with the above agreement being an example of the enormous potential.

The management have real skin in the game and a blue chip Board of Directors. In addition there doesn’t appear to be any imminent risk of dilution with the only negative being a seller (shareholder of original shell company). Once cleared the share price should reflect newsflow.

All the best


At the time of my earlier post (12/4/19) the share price was 3.25p. Today’s closing price is 8p and yet nobody appears to have anything to say. The potential upside here is colossal with multiple price triggers imminent.

Spreadex have sold approx 3% in recent days and are likely to now be below 5%. Despite their continuing sales the share price has remained in an upward trend.



This was posted on ADVFN in January 19:

25 Jan '19 - 22:47 - 145 of 161

Considering a largely successful, rule book-driven career in equity research, what I’m about to do is a first.

I’m going to make a bold prediction:

London-listed Nuformix (NFX) will be the best performing biotech in 2019!

Here’s why…

A large number of investors mistakenly fall for the premise that complexity is a key component to superior performance. The City of London’s investment banking sector has cultivated and reinforced this fallacy for generations.

In fact, nothing could be further from the truth. In the end, complex investment strategies almost always suffer from chronic underperformance. And regardless of the hype and prestige these investments are commonly cloaked in, they are usually designed to, first and foremost, enrich those managing and selling them.

Thus, for the experienced and novice investor alike, straightforward and transparent investments are almost always the best of all options.

Take Nuformix for example; the Cambridge-based biotech, which counts Vectura’s former head honcho Chris Blackwell as a director, takes drugs cast off by major pharmaceutical companies in phase III clinical trials (targeting high-value unmet needs) and repurposes them.

How simple and straightforward is that?

Word of caution though: dismiss this business model at your own peril.


Employing cocrystal technology, Nuformix has not only created an IP portfolio containing 14 granted patents covering cocrystal forms of five small molecule drugs, but has also identified two drug cocrystals (NXP001 and NXP002) that its highly credentialed management team believe represent stand-out commercial and therapeutic promise and is seeking to progress these programmes to human pharmacokinetic studies.

And so far, the management team have come up trumps.

According to the Lancet, the average cost of a Phase II clinical trial ranges from £4.0 million to £14.6 million, while the average costs of phase III clinical trials range from £8.3 million to £39.9 million.

Thus, with an estimated, inherent legacy investment value of circa £31.3m, NXP001, the company’s flagship cancer drug candidate, has outperformed all clinical studies so far. Considering that NXP001’s market (oncology supportive care) is currently estimated at £17.5 billion per annum, rising to £23.5 billion in 2021, a positive outcome at the pharmacokinetic studies will thrust NXP001 into blockbuster territory. And we all know what happens then….

As for NXP002, the company is re-profiling the drug to treat a range of fibrotic conditions, which can occur in organs such as the lungs, liver or heart. So far, the drug has achieved primary endpoints in all clinical studies done. Specifically, data generated showed that NXP002 candidates strongly inhibit fibrosis ex-vivo, even in very severely fibrotic human lung tissue taken from patients at end stage with IPF.

Okay, that’s a bit too far down the rabbit hole for most of us without PhDs in medical science.

What’s worth noting, however, is that FinnCap have placed an initial value potential of NXP002 at circa £284m with the corresponding licencing agreements. FinnCap stresses that this valuation does not include markets for other fibrotic conditions which are under-developed. The global liver disease market, for example, is predicted to reach £9.2 billion by 2022.

In the meantime though, Q1 2019 (now…) promises to be very busy for Nuformix, with plenty of newsflow:

• MHRA clearance expected and patients scheduled for dosing shortly after.

• Completion of the pharmacokinetic study triggers a £500,000 milestone payment from Newsummit Biopharma, the company’s Chinese partner.

• Human pharmacokinetic data to be released.

• Demonstration of bioequivalence triggers a £2 million milestone payment.

• Demonstration of bioequivalence propels NXP001 into ‘blockbuster’ territory, drawing the attention of Big Pharma.

• Demonstration of bioequivalence will substantively alter the value proposition being tabled in ongoing commercial discussions.

• Announcements on ongoing commercial discussions expected.

As is evident above, the newsflow is potentially company-making and is likely to keep investors on their toes.

That being said, let’s cut to the chase, because time could be of the essence with this one, and talk numbers:

• Nuformix’s current market cap is £9.2m (2p).

• For the six months ended 30 September 2018, the company’s NAV was £4.49m (included £338,167 cash at bank).

• On the 27 November 2018, the company received £500,000 in milestone payments from NSB.

• The company is set to receive £2.5m in milestone payments from NSB in Q1 2019.

Now, less £7.49m means the market is valuing Nuformix’s highly successful cancer and fibrosis stable of drug candidates, and its substantial IP portfolio, at a paltry £1.7m!


Has the market totally missed this?

The company has excellent clinical data for its drug candidates, is earning significant milestone payments, is in advanced commercial discussions for its stable of drugs, and is firmly positioned for entry into Greater China and South East Asia (all multibillion dollar market opportunities) but is sporting a bargain-basement valuation of £1.7m!

Again I bark, seriously?

Frankly, if ever there was a textbook market anomaly then this is it.

Remember, the stock market is not always the perfect arbiter of value.

And yes, this spectacular value gap offers an incredible opportunity to savvy investors.

Thus, at the minimum, the company’s market cap should find a floor at £65m (15p). To this end, the risk-reward profile here is extraordinarily rare.



Thanks for reposting this. Just dipped toe in last week and now up to 80,000 shares this week. Funds already committed in other investments. Have you found any good sources on NFX other than their website/BBs. I.e. biomedical research press that’s useful to check in on? New to this market but have been interested for some time.

Thanks and GLA,



I looked at the price action last year and bought for quick gain, which did not happen. Did some more research and found it could be a long term hold.
There are a few poster over on ADVFN that seem to know more about pharmacology than me; I like the concept of exploiting someone else’s abandonned project with a wonder furmulae to make it work, sounds a little too good to be true.
Trolling through the ADVFN thread you will find some decent links, some with Youtube interviews and what have you.

Read this:
and that…

Watch this:
ans that…

I’m new to all this but these linnk are a lot more interesting now that we have gone beyond 10p…




Good news with the RNS this morning.

Thanks for the info/links. I have to say I owe a massive thanks to Gibso on the Advfn Hurricane Energy thread for mentioning, virutally in passing, this was about to take off. As his posts generally seem pretty on point thought it worth taking a look and fortunately got in last week at 6p and on Tuesday at 8.something.

All the best,




Today’s RNS is only the beginning. I really don’t think the wider market has appreciated just what the potential is here. Dan Gooding has left enough clues if anyone bothered to actually LISTEN to what he was saying. He has signposted how things will develop step by step and what a minimum takeover price is likely to be (multiples of current price of 13.6p).

There are interviews with Vox and Proactive that are well worth listening to especially in light of today’s news.

Finally, have a look at the director shareholdings and CV’s if you want to dispel any doubts. My ONLY regret is that I don’t have a bigger holding here.



Isn’t it amazing how quickly this has exploded, 13.5p bid as I write.
I got in at 2.8p average, this has remapped my portfolio somewhat!
Really don’t know whether we will actually pull back as logic dictates, perhaps below 10p? On the other hand the RNS is the best kind you can get so who knows.
Keep the faith!


Prols and JStand

Have been staring at my portfolio in disbelief today to be honest, very, very pleased.

Prols well done for buying in at 2.5p on this share, you literally can’t go wrong. I’m going to hold my whole pot here for as long as I can, it may retrace, but can see this hitting 80p to a £1 within let’s say very conservatively 12 months.


Dan has been interviewed on Vox today. It’s a must listen.

“it’s a litmus test moment”

To infinity and beyond!!!



Hi Albi1,

Millais here ! I was looking up Hurricane ii BB and saw your tag picture. Without thinking I opened the thread and thought "hang on, OT ? " I read further and realised I was on the Nuformix ii BB and what I was reading was very interesting indeed. Research… and I’m now a holder too ! This is a fascinating story and with so much potential. Even better, the successes benefit real people, not just investors like myself.

What a stroke of luck and thanks to all of you who post up such useful info ,

All the best to LTH and newbies too,



Hello Millais

Glad you did!

Quite a few folk from Hurricane in this one. In fact that’s where I found out about NFX when Gibso mentioned it rather enthusiastically on Advfn.

Agree re. potential and the backstory. It does feel particularly good to invest in something like this which will hopefully make much needed medical relief available at cost effective prices to the NHS etc.

All the best



Think reason no replies is that no one uses this site anymore. Navigating on it is impossible and its uttterly counter intuitive. Still NFX goes from stregth to strength.


Don’t even know how I got here…but some fantastic posts albeit some are reposts elsewhere. I had largely given up on the pharma/bio space and more or less got into this on the back of the cannabis news. Anyone got any other pharma plays to look at.??? I sometimes wade through the stuff that say Edison write…its good stuff but picking out a winner from the 50 or so on offer would be like punting on a horse. I used to own Vernalis but gave up on it.


Hi Millais

Hope you’re well.

Sold out last week to top up in Hurricane but will buy back in likely between 7 to 10p once the outstanding milestone payment for NXP001 has been made and we have more certainty around CPI selling. Long term investment for me once I get back in.


Hi Albi1,

I’m fine thanks and hope you have had a good summer ? I am still invested in NFX with my original starter position. I am playing a waiting game ! I sold some of my Hurricane shares in June to reinvest in Jadestone Energy and Keystone Law. I am somewhat disappointed in Hurricane but feel that the Warwick Deep plugging and abandonment is no disaster. I have a strong conviction that the flaring and DST of Lincoln Crestal will boost the SP when the commercial potential is confirmed via RNS. Alistair Stobie at the AGM said he expected Hurricane to be taken out when the time is right and this may be approaching that moment !

It’s good to hear from you again. I have checked the Hurricane ii board from time to time, but not too many postings from our friends of earlier this year. Fingers crossed for good news and an uplift in the SP.

All the best,



Hello Millais
Good to hear from you. Had a very busy summer and managed to have a break of sorts for a few weeks. As one of the first shares to invest in, a fractured basement explorer may not have been the best choice but I continue to hold and derisk and reinvest etc. All the signs bode well for Lincoln and therefore hopefully Warwick Crestal as Deep was obviously the tricker one. Like you I don’t view that as a disaster at all, after all what’s exploration for?
I’ll be back in to Nuformix in good time, will look at Jadestone and Keystone.
Often think of one poster in particular and note the continued absence of his posts but perhaps some of us will be able to celebrate in a year or so when the ‘interruption’ finally happens!
Best, Albi


No activity on this board which is very surprising considering the progress being made here. Article in today’s Times (25.10.19) illustrates the possible in terms of deals. The lack of denial from NFX is even more illuminating.

The potential is truly mind boggling and yet not a single post here for months!!!




Encouraging news and encouraging enough to make me top up. Still wait and see time though as the company themselves state there is no guarantee of a deal … Must admit despite the potential, because of the large amount of ramping on other boards I am slightly wary but observant of NFX until proved otherwise but remain quietly optimistic in the background.


Hi Millais

I might be wrong, but you live in Jersey and cycle?

Saw a tweet today and thought of you. Wanted to pass on something given the horrendous drops over last few days - Rockfire (ROCKR) - currently at 2.2p. Will prob double this week. Expect to go to 10p soon. (see SOLG for comparison). Made up losses on Hur on this so hope to buy further Hur from profits here. Now fully derisked so happy to see the critics out!