The latest update is out from Faron Pharmaceuticals Oy ( (GB:FARN) ).
Faron Pharmaceuticals has entered into a convertible bond arrangement worth up to EUR 35 million with Heights Capital Management, issuing the first tranche of bonds at EUR 15 million. This move aims to repay an existing secured loan, enhance financial flexibility, and extend the company’s cash runway into Q1 2026. The arrangement will also facilitate further business transactions and strengthen Faron’s position in the biotech industry by unlocking previously restricted cash reserves and releasing assets from security pledges.
More about Faron Pharmaceuticals Oy
Faron Pharmaceuticals Oy is a clinical-stage biopharmaceutical company focused on targeting the CLEVER-1 receptor to reprogram myeloid cells for activating anti-tumor immunity in hematological and solid tumors. The company operates in the biotech industry, with a market focus on innovative cancer therapies.
YTD Price Performance: 4.88%
Average Trading Volume: 19,874
Technical Sentiment Signal: Sell
Current Market Cap: £239.3M
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