IN BRIEF: Nuformix interim loss narrows; aims to raise value of assets

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Nuformix PLC - London-based developer of treatments for fibrosis and oncology - Pretax loss narrows to £346,577 in the six months ended March 31, from £376,668 a year prior. Looking ahead, Nuformix says: ‘The company continues to advance and exploit the current assets within the portfolio through the research & development and business development activities as set out above. The strategy of the group is to continue to increase the value of its existing assets while maintaining tight control of costs, including conducting business development/licensing activities using a structured and data-driven approach, with the goal of seeking global licensing deals.’

The company highlights that during the six months to March 31, the US Food & Drug Administration had granted orphan drug designation in idiopathic pulmonary fibrosis for tranilast lystate, the active drug substance enabled for inhaled delivery in NXP002, Nuformix’s lead programme.

Current stock price: 0.17 pence each

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