Faron Pharmaceuticals Oy Correction to Faron's Annual Report 2019 (6962H)

TIDMFARN

RNS Number : 6962H

Faron Pharmaceuticals Oy

26 March 2020

Faron Pharmaceuticals Oy

("Faron" or the "Company")

Correction to Faron's Annual Report 2019

Company announcement, 26 March 2020 at 12.00 PM (EET)

TURKU - FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON), the clinical stage biopharmaceutical company, announces the correction to the Annual Report 2019 which has been published yesterday.

The correction is related to the average number of shares and EPS (loss per share). The correct average number of shares is 36,850,577 not 35,533,179 in 2019 as published earlier yesterday in the Annual Report 2019 and in the Financial statement release published on 20 March 2020. The resulting EPS is (0.36) for the full year 2019. Loss per share unaudited 7-12/2019 is (0.18) and unaudited 7-12/2018 is (0.20).

The corrected versions of Faron Pharmaceuticals' Annual Report 2019 and financial statements for the accounting period 1 January - 31 December 2019 have been published in English and its financial statements in Finnish, on the Company's website https://www.faron.com/investors/results.

For more information please contact:

Faron Pharmaceuticals Oy

Dr Markku Jalkanen, Chief Executive Officer

[e-mail]

Panmure Gordon (UK) Limited, Nomad and Broker

Emma Earl, Freddy Crossley (Corporate Finance)

James Stearns (Corporate Broking)

Phone: [phone]

Sisu Partners Oy, Certified Adviser on Nasdaq First North

Juha Karttunen, Jussi Majamaa

Phone: [phone]

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville

Phone: [phone]

E-mail: [e-mail]

About Faron Pharmaceuticals Ltd

Faron (AIM: FARN, First North: FARON) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline based on the receptors involved in regulation of immune response in oncology and organ damage. Clevegen, its precision immunotherapy, is a novel anti-Clever-1 antibody with the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. Currently in phase I/II clinical development as a novel macrophage checkpoint immunotherapy for patients with untreatable solid tumours, Clevegen has potential as a single-agent therapy or in combination with other standard treatments including immune checkpoint molecules. Traumakine, the Company's pipeline candidate to prevent vascular leakage and organ failures, has completed a phase III clinical trial in Acute Respiratory Distress Syndrome (ARDS). Plans for its future development are being finalised to avoid interfering steroid use together with Traumakine. Faron is based in Turku, Finland. Further information is available at www.faron.com

Attachment:

Faron's Annual Report 2019.pdf

http://www.rns-pdf.londonstockexchange.com/rns/6962H_1-2020-3-26.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

ACSPPUMWWUPUUBQ

(END) Dow Jones Newswires

March 26, 2020 06:00 ET (10:00 GMT)