Faron Pharmaceuticals Oy (DI) (FARN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

200.00p
   
  • Change Today:
      2.50p
  • 52 Week High: 262.50p
  • 52 Week Low: 141.67p
  • Currency: UK Pounds
  • Shares Issued: 116.95m
  • Volume: 11,458
  • Market Cap: £233.91m
  • Beta: 0.12

Faron Pharmaceuticals extends funding agreement with IPF

By Josh White

Date: Tuesday 30 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Faron Pharmaceuticals announced on Tuesday that it has extended its agreement with lender IPF to ensure continued financial support as it progressed towards securing longer-term funding.
The AIM-traded firm said the extension would enable it to maintain its focus on preparations for securing future funding.

Key terms of the extension included a minimum cash covenant set at €6m until 20 May, subject to ongoing clinical success with the 'BEXMAB' trial.

Following that, the cash covenant would decrease to €5.5m until 12 June, and then to €4.5m until a minimum equity raise of €10m had been achieved.

As part of the agreement, IPF would receive a waiver fee and additional new warrants totaling €0.5m euros, with a strike price based on market conditions.

The extension would be valid until 27 June, contingent on meeting the specified terms and securing subscriptions or guarantees for a public offer amounting to €10m by 11 June.

Faron said it had implemented significant cost-saving measures in recent months, and expected to maintain its cash runway into the third quarter of 2024.

At 1613 BST, shares in Faron Pharmaceuticals were up 4.04% at 145.65p.

Reporting by Josh White for Sharecast.com.

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FARN Market Data

Currency UK Pounds
Share Price 200.00p
Change Today 2.50p
% Change 1.27 %
52 Week High 262.50p
52 Week Low 141.67p
Volume 11,458
Shares Issued 116.95m
Market Cap £233.91m
Beta 0.12

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
41.46% below the sector average41.46% below the sector average41.46% below the sector average41.46% below the sector average41.46% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
54.55% above the sector average54.55% above the sector average54.55% above the sector average54.55% above the sector average54.55% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 4
Neutral 0
Sell 0
Strong Sell 1
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FARN Dividends

No dividends found

Trades for 29-Aug-2025

Time Volume / Share Price
14:37 970 @ 202.00p
14:14 1,800 @ 197.50p
12:03 22 @ 202.00p
11:59 1,800 @ 198.00p
11:33 485 @ 198.00p

FARN Key Personnel

CFO Yrjö E K Wichmann
CEO Juho Jalkanen
Chair Tuomo Pätsi

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