PARIS, France, September 29, 2023 at 7 p.m. (CET) – Pharnext SA (FR001400JXB0 – 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 8
th
resolution voted at the General Meeting of February 24, 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 0.10 euros. The Company’s share capital, divided into 7,173,970 shares, is reduced from 7,173,970 euros to 717,397 euros.
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. In 2018, PXT3003 completed a Phase III clinical study, the PLEO-CMT trial, with encouraging preliminary results. This trial was followed by an open-label extension study, the PLEO-CMT-FU trial, in which 120 patients are still continuing treatment with PXT3003. The long-term results suggest a benefit maintained in terms of tolerance and effectiveness, after a total clinical study duration of 6 years. A pivotal international Phase III clinical study, the PREMIER trial, including 387 patients with CMT1A was completed in August 2023. The first results of the PREMIER trial are expected in the fourth quarter of 2023. PXT3003 was discovered with the Pleotherapy™ R&D approach. Pharnext draws investors’ attention to the risk factors, particularly financial, detailed in its financial reports. More information on www.pharnext.com.
Pharnext is listed on the Euronext Growth market in Paris (ISIN code: FR001400JXB0).
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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