Quantum Genomics: in suspension of payments, the share price plummets

(CercleFinance.com) - Biopharmaceutical company Quantum Genomics declared itself in suspension of payment on Thursday, a decision that is expected to pave the way for the opening of bankruptcy proceedings in the near future.


Since the failure of its Phase III study on firibastat in cardiology in 2022, the company had restructured its workforce with a view to repositioning its business.

However, following the merger with healthcare AI software company Exactcure, Quantum Genomics found itself financing its subsidiary's activity, until the latter achieved more significant sales.

Noting that it was unable to raise new funds to cover its cash requirements and those of its subsidiary, the company indicated that it no longer had sufficient resources to meet its liabilities.

At the same time, Exactcure also filed a declaration of cessation of payments and requested the opening of judicial liquidation proceedings.

Given the amount of its liabilities and the estimated value of its assets, Quantum Genomics warns that any proceeds from the sale of assets should not enable a payment to be made to shareholders.

On the Paris Bourse, the share price fell by 76% following these announcements.

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