(CercleFinance.com) – Pharnext announces the implementation of a drastic cost reduction plan as the company continues its work to develop PXT3003, its drug candidate for Charcot-Marie-Tooth disease type 1A (CMT1A). ).
In order to concentrate its financial resources on matters directly related to the development of the PXT3003, Pharnext has therefore agreed to cease all other operational expenses.
The objective is to increase cash consumption linked to current operations from 2 ME per month on average during the first half of 2023 to between 0.5 and 0.9 ME per month on average from the 1st half of 2024.
Concretely, Pharnext intends to stop all preclinical and clinical programs initiated or planned, generating approximately 70% of the expected savings; rationalize internal and external operating costs, generating around 30% of the expected savings.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
