PARIS, France, June 18, 2024 at 6:30 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, announces the extension of the current conciliation procedure.
At the request of the Company and with the support of the conciliator, the President of the Commercial Court extended the conciliation procedure until July 15, 2024, which should allow Pharnext to continue its activity until the results are obtained. of the Phase III clinical study conducted in China by its partner Tasly (through their
joint venture
joint venture of which Pharnext holds 30%) on PXT3003, its drug candidate in development in Charcot-Marie-Tooth disease type 1A (CMT1A), a rare and disabling hereditary peripheral neuropathy.
Pharnext management had the opportunity to discuss with Tasly representatives and hopes to be able to communicate very soon on the results of this study.
Furthermore, the Company makes available to the public, on its website, the results of the votes of its General Meeting of June 10, 2024. All of the resolutions put to the vote were adopted by a very large majority.
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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