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Faron Pharmaceuticals Receives Decision from ...
Faron Pharmaceuticals Ltd. has been fined EUR 30,000 by Nasdaq Helsinki Ltd.'s Disciplinary Committee for breaching disclosure rules regarding inside information and public statements made in 2024. While two alleged breaches were dismissed, the committee found fault with the timing of disclosures between the AIM London and Nasdaq First North markets, requiring immediate release irrespective of simultaneous publication. The company, which has operated with this timing practice since 2019, will discuss options to comply with the new requirement. Faron emphasizes its commitment to compliance and states the fine will not materially impact operations. Disclaimer*
About this update from Faron Pharmaceuticals Oy
Faron Pharmaceuticals Ltd | Company announcement | June 05, 2026 at 13:50:00 EEST Turku, Finland - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers through novel immunotherapies, announces that, Nasdaq Helsinki Ltd’s Disciplinary Committee has issued their decision and imposed a fine amounting to EUR 30,000 on Faron Pharmaceuticals Oy (“Faron” or “Company”) for breaching the Nasdaq First North Growth Rulebook for Issuers of Shares (“Rules”) regarding the obligation to disclose inside information without undue delay in certain matters in 2024, and good securities market practise in connection with certain public statements made in a media interview in 2024.The Disciplinary Committee dismissed two of the alleged breaches claimed by the market surveillance, importantly, an allegation that the Company’s administration was not organized in a manner required of a listed company. More details are available in a press release related to the decision published by Nasdaq Helsinki Ltd earlier today.The Company notes that the cases under evaluation by the Disciplinary Committee were separate from each other and that the only reoccurring topic in the decision was the timing of announcements in AIM London and Nasdaq First North as the release hours are not the same in both markets. The Company notes that it has been listed in both markets since 2019 (in AIM London already since 2015), and it needs to secure simultaneous disclosure of information in both markets in accordance with relevant rules in order to be able to treat its shareholders equally. The Company has followed the same timing praxis to release announcements simultaneously that was established when the Company was listed in Helsinki First North back in 2019. As the Disciplinary Committee now ruled in its decision that disclosures must be done without delay irrespective of the possibility to publish simultaneously in London AIM, the Company will consider its options to fulfil this requirement in dialogue with the stock exchanges.The Company aims in all of its operations to accurate, explicit and timely communication following all the rules the Company is obligated to follow. The Company takes compliance with the rules very seriously and continuously implements actions to ensure compliance. The fine does not have a material impa...
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