Faron Pharmaceuticals Oy (DI) (FARN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

233.69p
   
  • Change Today:
      8.69p
  • 52 Week High: 350.00
  • 52 Week Low: 117.50
  • Currency: UK Pounds
  • Shares Issued: 72.01m
  • Volume: 13,091
  • Market Cap: £168.28m

Faron gets FDA tick from proposed design of next 'Traumakine' study

By Josh White

Date: Monday 09 Mar 2020

LONDON (ShareCast) - (Sharecast News) - Faron Pharmaceuticals announced on Monday that the US Food and Drug Administration (FDA) has accepted its proposed protocol design for the next 'Traumakine' study in acute respiratory distress syndrome (ARDS) patients, following its protocol submission in February.
The AIM-traded firm said the protocol reflected the feedback and conclusions from the FDA that further studies with interferon-beta should exclude the use of concomitant glucocorticoids, since they were likely to block the desired therapeutic effect of Traumakine, and could have a "potentially deleterious" impact on patient survival.

It said the harmful interaction had been previously evidenced both clinically in the 'INTEREST' study, where concomitant glucocorticoids use was associated with increased mortality, and experimentally ex vivo using human lung tissue and pulmonary endothelial cells.

Faron said it was planning to split the clinical development of Traumakine in ARDS into two steps, starting with 'INTEGRITY' - a pilot randomised and placebo controlled study with around 60 patients.

The INTEGRITY data would then serve as final adjustment for adequate statistical powering and sample size justification for the "pivotal" 'CALIBER' study, subject to FDA review.

It said it expected that the sample size of the CALIBER study would not be more than 200 patients, based on the post-hoc analysis of the INTEREST trial data.

As it had previously announced, Faron envisaged that future Traumakine trials, including INTEGRITY and CALIBER, were likely to be funded through a third party or parties.

"FDA's acceptance of our proposed study design and protocol is a significant step for the future development of Traumakine," said chief executive officer Markku Jalkanen.

"Our learnings from previous trials in this development programme have enabled us to refocus our efforts on Traumakine, which we continue to believe holds great potential as a future treatment for ARDS, including flu or coronavirus infected people.

"We look forward to providing further updates as our funding discussions with third parties progress," Dr Jalkanen added.

At 1023 GMT, shares in Faron Pharmaceuticals were down 9.24% at 270p.

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FARN Market Data

Currency UK Pounds
Share Price 233.69p
Change Today 8.69p
% Change 3.86 %
52 Week High 350.00
52 Week Low 117.50
Volume 13,091
Shares Issued 72.01m
Market Cap £168.28m

FARN Star Ratings

Compare performance with the sector and the market.
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Value
Market averageMarket averageMarket averageMarket averageMarket average
52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average52.94% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
37.04% above the sector average37.04% above the sector average37.04% above the sector average37.04% above the sector average37.04% above the sector average
Income Not Available
Growth Not Available

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Strong Buy 0
Buy 1
Neutral 0
Sell 1
Strong Sell 1
Total 3
sell
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FARN Dividends

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Trades for 15-May-2024

Time Volume / Share Price
10:18 4 @ 230.00p
10:12 747 @ 240.10p
09:33 74 @ 240.00p
09:29 9 @ 245.20p
08:29 4,505 @ 227.11p

FARN Key Personnel

CEO Juho Jalkanen
Chair Tuomo Pätsi

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