Pharnext (FR:ALPHA) has released an update.
Pharnext, a biopharmaceutical company developing therapies for neurodegenerative diseases, is facing a strategic and financial predicament. The company’s inability to publish Phase III study results and the lack of financial support post-conciliation from Néovacs has led to default events under their bond financing agreement. Pharnext is seeking assistance from another partner, Global Tech Opportunities 13, while warning investors of potential share value dilution from financing operations.
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