- Nuformix published positive pre-clinical data on its new inhaled treatment NXP002 for idiopathic pulmonary fibrosis.
- MyHealthChecked has announced the launch of two new COVID-19 home testing services for travellers in the UK.
Penny pharma stocks often lure investors due to their attractive return on investment. New launches, patent filings, regulatory approvals, and progress in clinical trials all play a pivotal role in driving up the share prices of these stocks.
These stocks present investors with an opportunity to leverage the robust pace of technological advancement and a promising pipeline of products. In this article, we will review in detail the investment opportunity in 2 penny pharma stocks, Nuformix and MyHealthChecked, listed on the London Stock Exchange (LSE).
(Data source: Refinitiv)
Nuformix Plc (LON: NFX)
Nuformix is a pharmaceutical research and development firm focusing on fibrosis and oncology treatments through drug repurposing. Today, the company published positive pre-clinical data on its new inhaled treatment NXP002, for idiopathic pulmonary fibrosis. A second study also revealed that the inhaled NXP002 through nebulization could help regulate the production of fibrosis mediators.
Earlier this month, Nuformix filed a new patent application for NXP004 for cancer treatment. In September, Nuformix inked a licensing agreement with Oxilio Ltd, a pharmaceutical development company, for NXP001 for the treatment of cancers.
For the year ended 31 March 2021, Nuformix reported total revenue of £195,550 compared to £535,000 in 2020. The group’s loss stood at £1.25 million in 2021 compared to the previous year’s loss of £756,376.
The shares of Nuformix are currently trading at GBX 1.85 (at 9:24 AM BST), up by 27.59%, with a market cap of £8.58 million on 25 November 2021.
MyHealthChecked Plc (LON: MHC)
MyHealthChecked is a healthcare firm focused on offering women's fertility-related health diagnostics products. The company also provides at-home COVID-19 PCR swab test kits. Yesterday, MyHealthChecked announced the launch of two new COVID-19 home testing services for travellers in the UK. The company will commence sales of the rapid antigen test and verification service for vaccinated travellers and residents.
For H1 2021, MyHealthChecked’s revenues stood at £3.27 million compared to £12,707 in H1 2020. It reported an adjusted EBITDA loss of £199,670 in H1 2021 compared to the loss of £1.71 million in H1 2020.
The shares of MyHealthChecked are currently trading at GBX 2.55 (at 9:20 AM BST), up by 9.91%, with a market cap of £17.54 million on 25 November 2021.