TME Pharma: CEO’s message is appreciated


(CercleFinance.com) – TME Pharma rose sharply on the Paris Stock Exchange on Friday following an optimistic message from the CEO of the biotechnology company, Aram Mangasarian.

In a letter sent to shareholders, the company manager points out that the latest results of the study on its main drug candidate, NOX-A12, have exceeded the group’s expectations.

For the record, these data showed that 83% of brain cancer patients were still alive after 10 months of treatment.

The conclusions of the trials conducted after a median follow-up of 12 months are expected at the beginning of the second quarter of 2023.

In his letter, Aram Mangasarian also mentions a strengthening of his discussions with a view to partnerships and financing in order to ensure the future clinical development of NOX-A12 without resorting to convertible debt financing.

As TME Pharma currently has sufficient cash until the beginning of September 2023, the company will have to obtain additional financing during May 2023.

Following these declarations, the title climbed by more than 10% on Friday on Euronext Growth Paris after having taken more than 15% at the start of the session.

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