Pharnext: towards the opening of liquidation proceedings

(CercleFinance.com) - Pharnext, the biopharmaceutical company behind an experimental treatment for Charcot's disease, is preparing to file for insolvency and liquidation.


In a press release, the company explains that it will be unable to finance its activities beyond July 15, following the termination of the financing contract granted by Néovacs and the refusal of Global Tech Opportunities 13, its other financial partner.

In view of the amount of the company's liabilities, Pharnext warns that any proceeds from asset disposals should not enable a payment to be made to shareholders.

Pharnext shares fell by more than 23% on Wednesday morning on the Paris Bourse following these announcements.

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