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Faron Pharmaceuticals Oy ( (GB:FARN) ) has issued an update.
Faron Pharmaceuticals Ltd announced the approval of share subscriptions based on special rights, linked to an advanced amortisation payment of the First Tranche Bonds. This move involves the issuance of 451,803 new shares at a subscription price of EUR 844,645.71, reflecting the company’s strategy to manage its convertible bond arrangement with Heights Capital Management. The newly issued shares will be admitted to trading on Nasdaq First North Growth Market Finland and AIM, increasing the total number of voting rights in the company. This development underscores Faron’s financial maneuvering to support its ongoing operations and strategic objectives in the biopharmaceutical sector.
More about Faron Pharmaceuticals Oy
Faron Pharmaceuticals Ltd is a global, clinical-stage biopharmaceutical company focused on developing novel immunotherapies to treat cancers. The company’s lead product is bexmarilimab, an anti-Clever-1 humanized antibody aimed at reprogramming myeloid cell function to remove cancer immunosuppression. Bexmarilimab is currently in Phase I/II clinical trials for patients with hematological cancers.
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