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Company Description & information on cash position

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RNS Number : 1192V
Faron Pharmaceuticals Oy
29 November 2019
 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, SINGAPORE, HONG KONG OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

 

Faron Pharmaceuticals Oy

 

Publication of Company Description and information on Company's cash position

 

Company announcement, 29 November 2019 at 9.30 AM (EET)
Inside information

 

TURKU - FINLAND - Faron Pharmaceuticals Oy (AIM: FARN) ("Faron" or the "Company"), the clinical stage biopharmaceutical company, announces that it has today published the company description document (the "Company Description") that Faron is required to prepare and publish in conjunction with the applied listing of its ordinary shares on Nasdaq First North Growth Market ("Nasdaq First North"), a registered SME growth market in accordance with Directive 2014/65/EU on markets in financial instruments as implemented in the national legislation of Denmark, Finland and Sweden, operated by an exchange within the Nasdaq group. The Company Description available at https://www.faron.com/investors contains the information required under the Nasdaq First North Rulebook, and it has been approved to be published by the Board of Directors of Faron.

 

The information in the Company Description is either general information or information already published by the Company including the Company's cash position on 30 September 2019. As announced the unaudited cash position of the Company as of 30 September 2019 was EUR 2,383 thousand. Since that date the cash position was strengthened with net funds of EUR 8,033 thousand raised in the placing of shares registered in the trade register maintained by the Finnish Patent and Registration Office on 12 November 2019.

 

If the applied listing is accepted, the first date of trading at Nasdaq First North will be 3 December 2019. The ISIN code of Faron's ordinary shares is FI4000153309 and the trading code will be FARON.

 

Faron's shares have been traded on AIM with the ticker FARN since November 2015. Trading on AIM is facilitated through depositary interests ("DIs"), which are trading securities issued by Computershare Investor Services PLC that allow share transfer and settlement for non-UK companies. Each DI represents one ordinary share in Faron.

 

**ENDS**

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 

 

For more information please contact:

 

Faron Pharmaceuticals Oy

Dr Markku Jalkanen, Chief Executive Officer

[email protected] 

 

Panmure Gordon (UK) Limited, Nomad and Broker on AIM

Emma Earl, Freddy Crossley

Phone: +44 (0)20 7886 2500 

 

Sisu Partners Oy, Certified Adviser on Nasdaq First North

Juha Karttunen, Jussi Majamaa

Phone: +358 (0)40 555 4727

 

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville 

Phone: +44 (0)20 3709 5700

Email: [email protected]

 

 

Distribution:

Nasdaq Helsinki Ltd
Key media
www.faron.com

 

 

About Faron Pharmaceuticals Oy:

 

Faron (AIM:FARN) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline based on the endothelial receptors involved in regulation of immune response, in oncology and organ damage. Clevegen®, its precision immunotherapy, is a novel anti-Clever-1 antibody with the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. Currently in phase I/II clinical development as a novel macrophage checkpoint immunotherapy for patients with untreatable solid tumours, Clevegen® has potential as a single-agent therapy or in combination with other immune checkpoint molecules or other cancer standard cares. Traumakine®, the Company's pipeline candidate to prevent vascular leakage and organ failures, has completed a phase III clinical trial in Acute Respiratory Distress Syndrome (ARDS). Plans for its future development are being finalised to avoid interfering steroid use together with Traumakine®. Faron is based in Turku, Finland. Further information is available at www.faron.com.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Faron Pharmaceuticals Ltd

Price: 265

Market: AIM
Market Cap: £1.13 m
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Faron Pharmaceuticals makes 'groundbreaking discovery' in its MATINS trial

Faron Pharmaceuticals Oy (LON:FARN) (FIRSTNORTH:FARON) CEO Dr Markku Jalkanen speaks to Proactive London's Andrew Scott after updating on its phase I/II MATINS trial of Clevegen. He says it's been encouraging to discover that Clevegen can ‘down’ regulate a range of checkpoints that affect the...

on 12/12/19