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Faron Pharmaceuticals Oy ( (GB:FARN) ) has provided an update.
Faron Pharmaceuticals Ltd has approved the exercise of 857,322 special rights entitling to existing treasury shares, valued at EUR 1,682,067, as part of an advanced amortisation payment for its First Tranche Bonds. This move, involving a convertible bond arrangement with Heights Capital Management, allows the company to manage its financial obligations through share settlements, potentially impacting its market positioning and shareholder dynamics by altering the number of shares and voting rights.
More about Faron Pharmaceuticals Oy
Faron Pharmaceuticals Ltd is a global, clinical-stage biopharmaceutical company focused on developing novel immunotherapies to tackle cancers. The company’s lead asset, bexmarilimab, is a novel anti-Clever-1 humanized antibody aimed at removing cancer immunosuppression by reprogramming myeloid cell function. It is currently being investigated in Phase I/II clinical trials for potential use in combination with standard treatments for hematological cancers.
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