OXP’s NSAID portfolio continues to progress with OXPzeroTM Naproxen having recently achieved bioequivalence and begun an endoscopy pilot clinical trial. The development of a chewable OXPzeroTM Ibuprofen has also been completed. We update our forecasts in this note for the £20m equity capital raise which should enable OXP to negotiate commercialisation deals from a position of strength whilst it continues to progress development of its product portfolio. Increased efforts are being made with OXPzeroTM Aspirin in particular. We remain upbeat about OXP’s ability to exploit its re-development expertise. We upgrade our intrinsic value to 17p.
