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Faron Pharmaceuticals Oy ( (GB:FARN) ) has shared an announcement.
Faron Pharmaceuticals Ltd has approved the exercise of 527,948 special rights, leading to the issuance of 527,948 new shares at a subscription price of EUR 986,998.79. This move is part of the company’s strategy to manage its convertible bond arrangement with Heights Capital Management, Inc., allowing it to convert debt into equity. The newly issued shares will be registered and are expected to commence trading on Nasdaq First North Growth Market Finland and AIM on or around October 6, 2025. This issuance increases the total number of ordinary shares to 117,593,545, with 113,450,867 voting rights, potentially impacting shareholder interests and market positioning.
More about Faron Pharmaceuticals Oy
Faron Pharmaceuticals Ltd is a global, clinical-stage biopharmaceutical company focused on developing novel immunotherapies to tackle cancers. The company’s lead asset, bexmarilimab, is a novel anti-Clever-1 humanized antibody aimed at removing immunosuppression of cancers by reprogramming myeloid cell function. Bexmarilimab is currently being investigated in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments.
Learn more about FARN stock on TipRanks’ Stock Analysis page.