Business
Financial Statement January 1 to December 31 2022
Financial Statement January 1 to December 31 2022.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \n \n \n Faron Pharmaceuticals Oy\n \n \n \n \n \n \n \n \n \n Faron's\n \n \n Financial Statement Release January 1 to December 31, 2022\n \n \n \n \n \n \n \n \n Financial statement release March 3, 2023 at 09:00 AM (EET) / 07:00 AM (GMT) / 03:00 AM (EDT) \n \n \n \n TURKU, FINLAND / BOSTON, MA\n \n -\n Faron Pharmaceuticals Oy (\"Company\", AIM: FARN, First North: FARON) together with its subsidiaries (\"Faron\"), a clinical stage biopharmaceutical group focused on building the future of immunotherapy by harnessing the power of the immune system to tackle cancer and inflammation, today announced audited full-year financial results for January 1 to December 31, 2022 (the \"period\") and H2 2022 and provided an overview of recent corporate developments.\n \n \n \n \n \n \n 2022 Highlights\n \n \n \n ·\n Faron reported that for the Phase I/II BEXMAB study of bexmarilimab, in combination with standard of care (SoC), in aggressive hematological malignancies including acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS), that a partial responder achieved complete remission of blasts in blood and bone marrow followed by normalization of blood counts. A second patient showed reduced blast counts.\n \n \n ·\n \n Bexmarilimab\n \n has been evaluated as a single agent in the Phase I/II MATINS in more than 200 patients and found to be well-tolerated.\n \n \n ·\n In MATINS, median overall survival was 14.9 months for patients who achieved stabilization of disease from bexmarilimab compared to 4.4 months for those who did not, representing a 3.4-fold increase.\n \n \n ·\n \n Bexmarilimab\n \n ignites the immune system by inducing IFN-y production. A high baseline level of IFN-γ in the tumor indicates that the immune system is already set to attack cancer cells and seems required for PD-1 blockade to work. Thus, adding bexmarilimab to PD-1 blockade is anticipated to enhance efficacy. \n \n \n ·\n The Company plans to initiate the Phase II BEXCOMBO study investigating bexmarilimab in metastatic or unresectable, recurrent HNSCC, locally advanced or metastatic UCC and metastatic NSCLC where first-line PD-1 blockade is approved SoC. \n \n \n ·\n The Company conducted two successful fundraising rounds in 2022. Combined, they raised EUR 13.4 million gross and both rounds included new and ex...