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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Faron Pharmaceuticals Oy | LSE:FARN | London | Ordinary Share | FI4000153309 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
10.00 | 4.17% | 250.00 | 240.00 | 260.00 | 257.00 | 238.00 | 238.00 | 20,031 | 10:29:35 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Pharmaceutical Preparations | 0 | -30.94M | -0.4499 | -5.56 | 171.97M |
Faron Pharmaceuticals Ltd("Faron" or the "Company")
Interim Results for the six months ended 30 June 2017
TURKU - FINLAND, 6 September 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, today announces its unaudited Interim Results for the six months ended 30 June 2017 (the "Period").
HIGHLIGHTS
Operational (including post period-end)
Financial
Corporate
Commenting on the results, Dr Markku Jalkanen, CEO of Faron, said: "Our aim is to build Faron into a global business dedicated to addressing areas of significant unmet need, utilising the opportunities contained within our wholly owned pipeline of novel drug candidates. The Truamakine Phase III INTEREST study for ARDS completed two further independent safety reviews and is approaching completion of recruitment in Q4 2017. We are looking forward to the data readout, which if favourable, will pave the way for our first commercial launch of Traumakine. We were further encouraged by the FDA's recent proposal to allow Traumakine to proceed directly to BLA submission upon completion of the European and Japanese trials and which will likely result in a faster and cheaper route to market in the US in the event of positive data.
"Beyond ARDS, we believe that Traumakine has excellent potential for application in other areas of organ protection. Impairment of endothelial barrier can be a reason for many organ dysfunctions. We are currently exploring its efficacy in addressing Multi-Organ Failure and mortality in patients with surgically operated Ruptured Abdominal Aorta Aneurysm (RAAA) through a Phase II trial.
"We are also pleased to have made substantial progress with our novel cancer immunotherapy candidate Clevegen, which works to remove immune suppression around tumours caused by tumour associated type-2 macrophages (TAM). Following the development of our new TIET platform and the commencement of preclinical toxicity studies we are now preparing to embark upon an extensive clinical program to investigate this promising candidate. In addition to its potential application in oncology, we are excited by Clevegen's potential application in a broader range of indications including chronic infections and vaccination enhancement."
For more information please contact:
Faron Pharmaceuticals LtdDr Markku Jalkanen, Chief Executive Officerinvestor.relations@faron.com
Consilium Strategic CommunicationsMary-Jane Elliott, Chris Welsh, Philippa Gardner, Lindsey NevillePhone: +44 (0)20 3709 5700E-mail: faron@consilium-comms.com
Westwicke Partners, IR (US)Chris BrinzeyPhone: 01 339 970 2843E-Mail: chris.brinzey@westwicke.com
Cairn Financial Advisers LLP, Nominated AdviserEmma Earl, Tony RawlinsonPhone: +44 207 213 0880
Panmure Gordon (UK) Limited, Joint BrokerFreddy Crossley, Duncan Monteith (Corporate Finance)Tom Salvesen (Corporate Broking)Phone: +44 207 886 2500
Whitman Howard Limited, Nominated BrokerRanald McGregor-Smith, Francis NorthPhone: +44 207 659 1234
About Faron Pharmaceuticals Ltd
Faron (AIM:FARN) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company's lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials. There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm ("RAAA"). Faron's second candidate Clevegen is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology ("TIET") may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faron.com
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/b3770bbb-8ff4-4f28-a0b9-c804e00de848
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