Neovacs SA (FR:ALNEV) has released an update.
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Neovacs SA, a biopharmaceutical company, has announced the inclusion of a 100% provision for the value of its claim in its semi-annual accounts, following Pharnext’s judicial liquidation. This precautionary measure was taken due to the non-repayment of bonds by Pharnext, with Neovacs’ financial stability remaining unaffected in terms of cash position and financing capabilities. An upcoming evaluation of Pharnext’s intangible assets could potentially lead to a revaluation in Neovacs’ annual accounts, depending on market authorization outcomes for a Pharnext drug candidate in China.
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