Nuformix PLC (LSE:NFX), an expert in drug repurposing, said a repeat study of one of its lead assets delivered inconsistent results.
NXP002, a reformulated version of the antiallergic drug Tranilast, is being developed as a potential inhaled treatment for idiopathic pulmonary fibrosis.
However, its preclinical development has not been without its hiccups.
A study was voided when the contract research organisation (CRO) it used had a protocol failure.
“The repeat study has recently concluded. The results, however, were inconsistent with the first in vivo study at all time points and also with the oral control,” investors were told.
“In the opinion of the company and its development advisers, no positive or negative conclusions could be drawn from this study.”
Nuformix and the CRO have now decided to move forward with further studies, including the evaluation of a new formulation of NXP002.
Researchers will examine both the pharmacokinetics of the drug as an inhaled product and further test its efficacy in repeat lipopolysaccharide challenge studies, the company said.
The results are expected in the first quarter of next year.
Chairman Alastair Riddell said: “We continue to believe that NXP002 is a valuable asset that can overcome the limitations and issues of Tranilast being delivered orally.
“The further study, that we anticipate will confirm the previous findings, will commence as soon as the CRO is able.”
In a wide-ranging announcement, Nuformix said that a lead cocrystal formulation of the cancer drug Lynparza (NXP004) has been selected to enter drug product development.
It also said that partner Oxilio "continues to progress" NXP001, with milestone payments expected as clinical trials of the drug candidate get underway.
The update also revealed that, after using external consultants, it has yet to identify a suitable candidate for the role of chief executive.
Financially, it has funds sufficient to carry out the NXP002 work and operate until the end of next year.