Faron Pharmaceuticals Ltd: Issue of Treasury Shares to the Company
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Faron Pharmaceuticals Ltd | Company announcement | May 28, 2026 at 15:35:00 EEST
TURKU, FINLAND - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies, announces that the Board of Directors of Faron (the “Board”) has resolved to issue 21,469,427 treasury shares to the Company itself without consideration to further prepare for any future conversions of the First and Second Tranche of Bonds.
The 21,469,427 treasury shares issued to the Company itself are expected to be registered in the Finnish Trade Register on or around 10 June 2026. The treasury shares will rank pari passu in all respects with the existing shares of the Company once they are registered with the Finnish Trade Register and further conveyed from treasury.
The Company will make applications for the admission of the newly issued treasury shares to trading on shares on Nasdaq First North Growth Market Finland (“First North“) maintained by Nasdaq Helsinki Ltd (“Nasdaq Helsinki“) and on AIM (“AIM“), the market of that name operated by London Stock Exchange plc (the “LSE“) with said admissions expected to become effective and trading to commence on or around 11 June 2026 (the “Admissions”).
Following the registration, the aggregate number of shares in the Company is 224,514,938 and of these shares, the Company will hold 25,000,000 in treasury. The shares held in treasury by the Company do not confer a right to dividends or other shareholder rights. On the date of this announcement, the aggregate number of shares in the Company is 203,045,511 and of these shares the Company holds 3,530,573 in treasury.
For more information, please contact:
| IR Partners, Finland (Media) Kare Laukkanen | +358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi |
| FINN Partners, US (Media) Alyssa Paldo | +1 847 791-8085 alyssa.paldo@finnpartners.com |
| Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner | +44 (0) 207 213 0880 |
| Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä | +358 (0)40 555 4727 +358 (0)50 553 8990 |
About BEXMAB
The BEXMAB study is an open-label Phase I/II clinical trial investigating bexmarilimab in combination with standard of care (SoC) in the aggressive hematological malignancies of acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). The primary objective is to determine the safety and tolerability of bexmarilimab in combination with SoC (azacitidine) treatment. Directly targeting Clever-1 could limit the replication capacity of cancer cells, increase antigen presentation, ignite an immune response, and allow current treatments to be more effective. Clever-1 is highly expressed in both AML and MDS and associated with therapy resistance, limited T cell activation and poor outcomes.
About Bexmarilimab
Bexmarilimab is Faron's wholly owned, investigational immunotherapy designed to overcome resistance to existing treatments and optimize clinical outcomes, by targeting myeloid cell function and igniting the immune system. Bexmarilimab binds to Clever-1, an immunosuppressive receptor found on macrophages leading to tumor growth and metastases (i.e. helps cancer evade the immune system). By targeting the Clever-1 receptor on macrophages, bexmarilimab alters the tumor microenvironment, reprogramming macrophages from an immunosuppressive (M2) state to an immunostimulatory (M1) one, upregulating interferon production and priming the immune system to attack tumors and sensitizing cancer cells to standard of care.
About Faron Pharmaceuticals Ltd.
Faron (AIM: FARN, First North: FARON) is a global, clinical-stage biopharmaceutical company, focused on tackling cancers via novel immunotherapies. Its mission is to bring the promise of immunotherapy to a broader population by uncovering novel ways to control and harness the power of the immune system. The Company’s lead asset is bexmarilimab, a novel anti-Clever-1 humanized antibody, with the potential to remove immunosuppression of cancers through reprogramming myeloid cell function. Bexmarilimab is being investigated in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments. Further information is available at www.faron.com.
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