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An update from Sirona Biochem ( (TSE:SBM) ) is now available.
Sirona Biochem announced significant financial and operational challenges, including the failure of a convertible debenture financing and the collapse of an investment agreement with Promura GmbH. Consequently, Sirona has decided to liquidate its subsidiary, TFChem, and cease laboratory operations. Additionally, Allergan Aesthetics will not proceed with the commercialization of TFC-1067, further impacting Sirona’s prospects. Despite these setbacks, the company is exploring structural and financial options to support the future development of its proprietary technologies.
More about Sirona Biochem
Sirona Biochem is a cosmetic ingredient and drug discovery company that utilizes a proprietary platform technology to stabilize carbohydrate molecules, aiming to enhance efficacy and safety. The company patents new compounds for maximum revenue potential and licenses them to leading companies globally, earning licensing fees, milestone fees, and ongoing royalty payments. Its laboratory, TFChem, located in France, has received multiple French national scientific awards and European Union and French government grants.
Technical Sentiment Signal: Sell
Current Market Cap: C$15.29M
Learn more about SBM stock on TipRanks’ Stock Analysis page.