Source - Alliance News

Nuformix PLC - London-based pharmaceutical development firm focused on fibrosis and oncology via drug repurposing - Starts to scale-up the production processes of lead cocrystals for its cancer programme NXP004, focused on the treatment for advanced ovarian cancer. Firm aims to develop new forms of Olaparib, ‘currently marketed by AstraZeneca PLC, under the Lynparza brand name,’ Nuformix explains. First approved in 2014 for advanced ovarian cancer, it has since received ‘similar approvals in breast, pancreatic and prostate cancers with further trials on-going.’

Company says industry analysts forecast Lynparza sales to be around $9.7 billion by 2028, up from $2.7 billion in 2021. ‘Based on the results from these studies a formulation development programme may be initiated,’ the firm adds.

Current stock price: 0.35 pence, up 5.7% on Wednesday

12-month change: down 83%

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