PARIS, France, July 6, 2023 at 8:00 p.m. (CET) – Pharnext SA (FR001400GUN7 – ALPHA)
(the “Company”), a late-stage biopharmaceutical company developing novel therapies for neurodegenerative diseases with no satisfactory therapeutic solution, announces that the management of the Company, based on 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 0.01 euro to 0.001 euro. The share capital of the Company, divided into 55,963,267 shares, has been reduced from 559,963.267 euros to 55,963.267 euros.
About Pharnext
Pharnext is a late-stage biopharmaceutical company developing novel therapies for neurodegenerative diseases that currently have no satisfactory therapeutic solution. Pharnext has a new drug candidate, PXT3003, in development for Charcot-Marie-Tooth disease type 1A (CMT1A), an inherited, rare and debilitating peripheral neuropathy. PXT3003 has 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 currently continuing treatment with PXT3003. The long-term results suggest a sustained benefit, in terms of tolerance and efficacy, after a total clinical study period of 5 years. A pivotal international Phase III clinical study, the PREMIER trial, is ongoing, in which 387 patients with CMT1A have been enrolled. The first results of the PREMIER trial are expected in the fourth quarter of 2023. PXT3003 was discovered with the R&D approach of Pleotherapy™. 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: FR001400GUN7).
contacts
|
Financial Press Relations NEWS finance & communication Deborah Schwartz [email protected] |
Investor Relations NEWS finance & communication Jerome Fabreguettes Leib [email protected] +33 (0)1 53 67 36 78 |
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Full and original press release in PDF format:
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