NOMAD Power Solutions (NMAD) Registration filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on developing cancer therapies, primarily targeting protein phosphatase 2A inhibitors to enhance the efficacy of existing cancer treatments.

• Lead compound LB-100 is in clinical trials for ovarian clear cell carcinoma, metastatic MSS colon cancer, and advanced soft tissue sarcoma, with additional preclinical evidence in other cancers.

• Operates with minimal overhead, raising funds at key milestones, and aims for strategic partnerships or licensing agreements with major pharmaceutical companies.

• Holds exclusive patent rights for LB-100 series, with a robust intellectual property portfolio covering composition, synthesis, and combination therapies.

Financial performance and metrics

• No revenue-generating operations to date; relies on equity capital and stock-based compensation for funding.

• Net losses of $5.1 million in 2023 and $6.3 million in 2022; $1.0 million net loss for the first half of 2024.

• Cash position as of June 30, 2024: $2.6 million; stockholders' equity: $2.25 million.

• Auditor's report includes a going concern warning due to recurring losses and negative cash flows.

Use of proceeds and capital allocation

• Net proceeds from the offering will be used for working capital and general corporate purposes.

• Management has broad discretion over the use of funds; specific allocations are not detailed.

• Proceeds are critical for ongoing operations and to regain compliance with Nasdaq listing requirements.