Shares in pharmaceutical development company Nuformix PLC (LSE:NFX) jumped 16% on Tuesday following a promising update on its NX004 programme.
NXP004 is focused on the development of novel, proprietary, cocrystal forms of olaparib, a drug currently marketed by AstraZeneca, under the Lynparza brand name.
Nuformix noted that it has so far filed two patent applications covering novel cocrystal forms of olaparib with the potential of protection till 2041.
NFX is now changing hands at 33p with a £2.3mln market capitalisation.