There is a lot going on

Consider the following:

• NOXCOVID has completed treatment of its first 6 patients and is recruiting the next 12, who will receive higher doses.  The next interim report will emphasise safety, but with 18 patients in the books it is highly likely that the report will also address efficacy for the first time.
• It is too early to know whether Covid patients responded to low-dose Veyonda, but the formation of a dedicated subsidiary to exploit STING inhibition technology implies that the first human trial results were not disastrous.
• The collaboration between Bristol Myers Squibb and NOX suggests that Veyonda has caught the eye of Big Pharma.  Today’s announcement would have followed many months of due diligence by BMS, so they must have been impressed by the potential of Veyonda
• All patients in the LuPIN Phase 2 trial have completed treatment, so we can expect Louise Emmett to update survival data at a major conference early next year.
• DARRT-2 is scheduled to start early next year, so site recruitment etc. will already be underway.  It is important to remember that DARRT patients have exhausted every treatment option, so there should be no need for a control arm.  If DARRT-2 recruits 200+ patients and the results are similar to those achieved in DARRT-1, this would be good enough to seek accelerated approval.  I expect the results to be better than DARRT-1 because higher doses of NOX66 will probably be used; and NOX66 treatment is likely to be repeated for a number of cycles (unlike DARRT-1, which only used NOX66 for a single cycle).

The creation of Pharmorage P/L to house non-oncology assets mimics the establishment of Nyrada, so it will be interesting to see whether Noxopharm intends to list Pharmorage; or to form a strategic partnership with a Big Pharma to expedite the development of novel Septic Shock and Autoimmune drugs.


As for news flow, in the next three months I expect:

• DARRT-2 to commence treating patients
• IONIC-1 to commence treating patients
• LuPIN survival data for all 56 patients
• NOXCOVID interim reports every three or four weeks
• A final report for all 40 NOXCOVID-1 patients

The price of NOX shares has increased by 224% since 30 June.  There is much more to come, in my opinion.