PHARNEXT: Fundraising of 250 thousand euros – 01/31/2024 at 7:00 p.m.

PARIS, France, January 31, 2024 at 7 p.m. (CET) – Pharnext SCA (FR001400JXB0 – ALPHA)

(the “Company”), an advanced clinical stage biopharmaceutical company developing new therapies for neurodegenerative diseases without satisfactory therapeutic solutions, announces a fundraising of 250 thousand euros through the issuance of OCEANE-BSA subscribed by Global Tech Opportunities 13.

Before the drawing announced today, the issue of OCEANE-BSA raised 41.2 million euros, gave rise to the creation of 30,783,601,087 new shares and could still give rise to the creation of 38 131,437,283 new shares based on the last listed price. The participation of a shareholder holding 1% of the capital prior to these drawings is today less than 0.0003%.

The issue of OCEANE-BSA announced today gave rise to the issue of 500,000 BSAs and could give rise to the creation of 3,571,928,571 new shares based on the last listed price. The participation of a shareholder holding 1% of the capital prior to this new drawing would be 0.92%.

All of the OCEANE-BSA issues carried out to date could give rise to the creation of 41,703,365,854 new shares based on the last listed price. The participation of a shareholder holding 1% of the capital to date could thus amount to 0.04%.

This financing is part of the agreement of June 4, 2021 relating to the issuance of bonds convertible or exchangeable into new and/or existing shares accompanied by share subscription warrants (the “OCEANE-BSA”) , as amended in December 2021, in January 2022, in June 2022 then on September 30, 2022.

This issue does not give rise to the preparation of a prospectus subject to approval by the AMF. The role of the initial subscriber is to ensure that the company gradually raises funds. It is not intended to keep the securities and remain a long-term shareholder of the company but to gradually sell them on the market. The monitoring table for OCEANE-BSA and outstanding shares is available on the company’s website.

The OCA monitoring tables, the number of newly issued shares for conversions, the total number of shares to be issued by the Company to the Investor for conversions as well as the total number of shares in circulation are held on the Company’s website (https://pharnext.com/fr/investors).

The public’s attention is drawn to the risk factors relating to the company and its activity, described in the 2022 Annual Financial Report available on the company’s website. The realization of all or part of these risks is likely to have an adverse effect on the activity, financial situation, results, development or prospects of the company. On the date of the last Financial Report, the company carried out a specific review of its liquidity risk and considered itself able to meet its upcoming maturities over the next 12 months thanks in particular to the use of this bond financing line. .

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 large number of securities issued to the Global Tech Opportunities Company. 13 and/or the 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: FR001400JXB0).

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