Faron Pharmaceuticals Oy (DI) (FARN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

218.42p
   
  • Change Today:
      8.42p
  • 52 Week High: 265.00p
  • 52 Week Low: 92.50p
  • Currency: UK Pounds
  • Shares Issued: 111.60m
  • Volume: 19,163
  • Market Cap: £243.76m

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 218.42p
Change Today 8.42p
% Change 4.01 %
52 Week High 265.00p
52 Week Low 92.50p
Volume 19,163
Shares Issued 111.60m
Market Cap £243.76m

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
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
59.18% above the sector average59.18% above the sector average59.18% above the sector average59.18% above the sector average59.18% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 0
Buy 2
Neutral 0
Sell 0
Strong Sell 1
Total 3
neutral
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 04-Apr-2025

Time Volume / Share Price
10:47 825 @ 217.50p
10:42 640 @ 216.80p
10:39 228 @ 216.80p
10:37 274 @ 217.00p
09:43 2,068 @ 217.50p

FARN Key Personnel

CFO Yrjö E K Wichmann
CEO Juho Jalkanen
Chair Tuomo Pätsi

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