NOMAD Power Solutions (NMAD) Registration filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on developing cancer therapies targeting protein phosphatase 2A inhibitors, primarily LB-100, to enhance the efficacy of chemotherapy and immunotherapy.

• 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 neural and other cancers.

• Business strategy emphasizes minimal overhead, milestone-based fundraising, and eventual strategic partnerships or licensing agreements with major pharmaceutical companies.

• Intellectual property portfolio includes patents and licenses covering composition, synthesis, and use of LB-100, with joint filings for combination therapies.

Financial performance and metrics

• Net losses of $5.1 million in 2023 and $6.3 million in 2022; $2.0 million net loss for the first half of 2024.

• As of June 30, 2024, cash balance was $2.6 million and stockholders' equity was $2.25 million.

• No revenue-generating operations to date; ongoing reliance on equity capital to fund operations.

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

Use of proceeds and capital allocation

• Estimated net proceeds of $3.5 million (assuming maximum sale) to be used for working capital and general corporate purposes.

• Actual allocation will depend on cash position and working capital requirements; management has broad discretion over use of funds.