Pharnext (FR:ALPHA) has released an update.
Pharnext SCA has prematurely ended its bond financing agreement with Néovacs due to events of default, prompting an early repayment demand of approximately 22 million euros. Shareholders face potential capital loss and significant dilution from the sale of shares by Global Tech Opportunities 13 and a trust managing the equitization of bonds. Pharnext continues to develop PXT3003 for Charcot-Marie-Tooth disease and will update on the financial situation.
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