Nighthawk remains jolly 09/02/2012
US-focused Nighthawk Energy is launching a $7.5 million program to invest in its Colorado-based Jolly Ranch project.
Collaboration for Neuropharm
Autism treatment developer Neuropharm is advancing through collaboration after losing an annual £3.2 million.
Berkshire-based Neuropharm, which floated on AIM in March with a £20 million placing, spent £1.3 million on research and development and £1.7 million on management and administration in the year to June. The company, whose key project is NPL-2008, an autism treatment using a formulation of the genetic compound fluoxetine, is progressing towards its US registration through a series of collaborative deals.
Collaboration partners include Autism Speaks, the world's largest autism patients' organisation, the Fragile X Research Foundation and Catalent Pharma. Chairman Graeme Hart and chief executive officer Robert Mansfield say Neuropharm is on track to seek approval from the US Food & Drug Administration in the fourth quarter of next year, for a product launch towards the end of 2009 at the earliest.
The company is also working on other potential products in the field of neuro-developmental disorders. Floated at 127p, the shares now trade at 187p, valuing the company at £59 million, and should have further to go if the treatments work out.
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