PARIS, France, February 20, 2024 at 6:00 p.m. (CET) – Pharnext SCA (FR001400N1P4 – ALPHA)
(the “Company”), an advanced clinical stage biopharmaceutical company developing new therapies for neurodegenerative diseases without satisfactory therapeutic solutions, today provides management of the Company, on the basis of the 9
th
resolution voted at the General Meeting of June 30, 2023, decided to carry out a capital reduction motivated by losses by reducing the par value of the Company’s share.
The par value of the share is reduced from 1.00 euros to 0.20 euros. The Company’s share capital, divided into 311,727 shares, was reduced from 311,727 euros to 62,345.40 euros.
Warning :
The company Pharnext has set up (i) financing in the form of OCEANE-BSA with the company Global Tech Opportunities 13, which, after having received the shares resulting from the conversion or exercise of these instruments, has not not intended to remain a shareholder of the company, and (ii) financing in OS which were then transferred to a trust, which is now responsible for their equitization.
The shares resulting from the conversion or exercise of the above-mentioned securities are generally sold in the market at very short notice, which can create strong downward pressure on the share price. In the specific case of the trust, the shares are sold on the market according to the terms set out in the trust agreement.
Shareholders may suffer a loss of their invested capital due to a significant decrease in the value of the company’s stock, as well as significant dilution due to the number of securities issued to the company Global Tech Opportunities 13 and/or trust.
Investors are advised to be very vigilant before making the decision to invest (or remain invested) in the securities of the company admitted to trading which carries out such dilutive financing transactions, particularly when they are carried out successively. The company recalls that this dilutive financing operation is not the first that it has implemented.
About Pharnext
Pharnext is a late-stage clinical-stage biopharmaceutical company developing novel therapies for neurodegenerative diseases currently without satisfactory therapeutic solutions. Pharnext has a new drug candidate, PXT3003, in development for Charcot-Marie-Tooth disease type 1A (CMT1A), a rare and debilitating hereditary peripheral neuropathy. PXT3003 benefits from orphan drug status in Europe and the United States. More information on www.pharnext.com.
Pharnext is listed on the Euronext Growth market in Paris (ISIN code: FR001400N1P4).
Contacts
|
Financial Press Relations NEWS finance & communication Anne-Charlotte Dudicourt [email protected] +33 (0)1 53 67 36 32 |
Investor Relations NEWS finance & communication Jérôme Fabreguettes Leib [email protected] +33 (0)1 53 67 36 78 |
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