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FARON PHARMACEUTICALS LTD: HALF-YEAR FINANCIA...
Faron Pharmaceuticals reported its unaudited half-year results, highlighting significant clinical and financial achievements. A private placement raised EUR 12 million, and an unsecured convertible bond arrangement with Heights Capital Management Inc. provided up to EUR 35 million, with an initial tranche of EUR 15 million issued. R&D expenses totaled EUR 7.1 million, leading to an operating loss of EUR -11.9 million and a loss per share of EUR 0.18. Cash and cash equivalents stood at EUR 13.5 million, while net assets were EUR -16.2 million. Business Finland approved the forgiveness of an R&D loan, positively impacting operating profit by EUR 1.3 million in the second half of 2025. Updated data from the BEXMAB trial showed a complete remission rate increase to 43%. Disclaimer*
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n\n \n Faron Pharmaceuticals Ltd | Company announcement | August 27, 2025 at 09:00:00 EEST\nSignificant clinical and financial milestones achieved in first half of 2025\nTURKU, Finland – Faron Pharmaceuticals Ltd (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company pursuing a CLEVER approach to reprogramming myeloid cells to activate anti-tumor immunity in hematological and solid tumor microenvironments, has published its unaudited half-year financial results for the six months ended 30 June 2025, on 27 August 2025.Figures in parentheses refer to the corresponding period of previous year, unless otherwise indicated. This half-year report is unaudited.January–June 2025 in briefOn 31 January 2025, Faron announced the identification of the final patient for the BEXMAB phase II dose optimization study in refractory or relapsed myelodysplastic syndrome (r/r MDS), as well as the BEXMAB phase I/II study in frontline high-risk (HR) MDS.On 5 February 2025, Faron carried out a significantly oversubscribed private placement of newly issued treasury shares, raising gross proceeds of EUR 12 million in total.On 27 February 2025, Faron received a positive opinion on orphan drug designation for bexmarilimab for the treatment of MDS by EMA, and on 3 March 2025, the FDA granted an orphan drug designation for bexmarilimab in MDS.On 21 March 2025, Mr. Colin Bond and Dr. Juho Jalkanen, the CEO of the Company, were appointed as members to the Board of Directors.On 3 April 2025, Faron entered into an up to EUR 35 million unsecured convertible bond arrangement with Heights Capital Management Inc. (“HCM”) to repay its secured loan to IPF Partners and strengthen its financial position and issued first tranche of bonds with a principal amount of EUR 15 million.On 15 April 2025, Faron announced positive phase II results in HR-MDS.During the review period, Faron gave multiple oral presentations of bexmarilimab data at the several prestigious scientific forums in the field; in May, the 18th International Congress on Myelodysplastic Syndromes (MDS 2025); in May–June, the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting; and in June, the 30th European Hematology Association’s (EHA 2025) Congress.On 28 May 2025, Faron appointed seasoned commercial development expert, Ralph Hughes, as Chief Business Officer.On 30 May 2025,...