PharmX Technologies Braces for Legal Repayment

Corum Group Limited (AU:PHX) has released an update.

PharmX Technologies Ltd faces a financial setback as the Victorian Supreme Court orders a repayment of approximately $8.1 million to Fred IT Group, reversing a favorable previous judgment. Despite this, the company reassures stakeholders of its robust business model, financial prudence, and commitment to its commercial growth strategy. The Board remains confident in the company’s resilience and long-term goals, having anticipated such an outcome by creating a financial provision of $9.8 million.

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