Faron Pharmaceuticals Oy (DI) (FARN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

245.00p
   
  • Change Today:
      17.00p
  • 52 Week High: 250.00
  • 52 Week Low: 92.50
  • Currency: UK Pounds
  • Shares Issued: 111.60m
  • Volume: 17,035
  • Market Cap: £273.42m
  • Beta: 0.03

Faron Pharmaceuticals reports regulatory progress in the UK

By Josh White

Date: Monday 02 Dec 2024

LONDON (ShareCast) - (Sharecast News) - Clinical-stage biopharmaceutical company Faron Pharmaceuticals announced significant regulatory progress in the UK for its lead asset bexmarilimab on Monday.
The AIM-traded firm said the Medicines and Healthcare products Regulatory Agency (MHRA) had awarded bexmarilimab an 'Innovation Passport' under the Innovative Licensing and Access Pathway (ILAP), and approved the inclusion of UK sites in the ongoing BEXMAB trial.

It said the Innovation Passport designation recognised bexmarilimab's potential to address the unmet needs of patients with relapsed or refractory myelodysplastic syndrome (r/r MDS), a life-threatening condition.

ILAP would provide enhanced regulatory support, collaborative opportunities with health technology bodies, and an accelerated pathway to improve patient access to promising new treatments.

Regulatory approval to conduct the BEXMAB trial in the UK would enable Faron to recruit directly from UK hematology centers, broadening the scope of the study and expediting enrollment.

That, the board said, marked a significant milestone for Faron as it aimed to accelerate the development of bexmarilimab and bring the novel therapy to patients faster.

"I am very pleased to announce this update today following our ongoing interactions with the MHRA regarding bexmarilimab," said chief executive officer Dr Juho Jalkanen.

"At Faron, we understand the importance of actively engaging with regulatory authorities and, as a result of those interactions and the promising data generated to date, I am very pleased that the MHRA has recognised the potential of bexmarilimab to treat r/r MDS patients."

Dr Jalkanen said receiving ILAP designation, coupled with regulatory approval to conduct the BEXMAB trial in the UK, would allow the firm to accelerate the development of bexmarilimab and give UK patients access to a "promising novel therapeutic option" through participation in the study.

"We are looking forward to continuing our discussions with the MHRA to further expedite bexmarilimab's path to market for patients as soon as possible."

At 1130 GMT, shares in Faron Pharmaceuticals were up 4.12% at 177p.

Reporting by Josh White for Sharecast.com.

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FARN Market Data

Currency UK Pounds
Share Price 245.00p
Change Today 17.00p
% Change 7.46 %
52 Week High 250.00
52 Week Low 92.50
Volume 17,035
Shares Issued 111.60m
Market Cap £273.42m
Beta 0.03

FARN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
40.43% below the sector average40.43% below the sector average40.43% below the sector average40.43% below the sector average40.43% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
78.72% above the sector average78.72% above the sector average78.72% above the sector average78.72% above the sector average78.72% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 2
Neutral 0
Sell 0
Strong Sell 1
Total 4
buy
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FARN Dividends

No dividends found

Trades for 28-May-2025

Time Volume / Share Price
12:07 5,000 @ 249.39p
11:09 2,103 @ 241.67p
11:00 1,000 @ 245.00p
11:00 1,000 @ 240.00p
11:00 1,000 @ 240.00p

FARN Key Personnel

CFO Yrjö E K Wichmann
CEO Juho Jalkanen
Chair Tuomo Pätsi

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