Faron Pharmaceuticals Receives Decision from Nasdaq Helsinki Disciplinary Committee
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Faron Pharmaceuticals Ltd | Company announcement | June 05, 2026 at 13:50:00 EEST
Turku, Finland - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers through novel immunotherapies, announces that, Nasdaq Helsinki Ltd’s Disciplinary Committee has issued their decision and imposed a fine amounting to EUR 30,000 on Faron Pharmaceuticals Oy (“Faron” or “Company”) for breaching the Nasdaq First North Growth Rulebook for Issuers of Shares (“Rules”) regarding the obligation to disclose inside information without undue delay in certain matters in 2024, and good securities market practise in connection with certain public statements made in a media interview in 2024.
The Disciplinary Committee dismissed two of the alleged breaches claimed by the market surveillance, importantly, an allegation that the Company’s administration was not organized in a manner required of a listed company. More details are available in a press release related to the decision published by Nasdaq Helsinki Ltd earlier today.
The Company notes that the cases under evaluation by the Disciplinary Committee were separate from each other and that the only reoccurring topic in the decision was the timing of announcements in AIM London and Nasdaq First North as the release hours are not the same in both markets. The Company notes that it has been listed in both markets since 2019 (in AIM London already since 2015), and it needs to secure simultaneous disclosure of information in both markets in accordance with relevant rules in order to be able to treat its shareholders equally. The Company has followed the same timing praxis to release announcements simultaneously that was established when the Company was listed in Helsinki First North back in 2019. As the Disciplinary Committee now ruled in its decision that disclosures must be done without delay irrespective of the possibility to publish simultaneously in London AIM, the Company will consider its options to fulfil this requirement in dialogue with the stock exchanges.
The Company aims in all of its operations to accurate, explicit and timely communication following all the rules the Company is obligated to follow. The Company takes compliance with the rules very seriously and continuously implements actions to ensure compliance. The fine does not have a material impact on the Company's operations.
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 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.
Forward-Looking Statements
Certain statements in this announcement are, or may be deemed to be, forward-looking statements. Forward looking statements are identified by their use of terms and phrases such as ”believe”, ”could”, “should”, “expect”, “hope”, “seek”, ”envisage”, ”estimate”, ”intend”, ”may”, ”plan”, ”potentially”, ”will” or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.
A number of factors could cause actual results to differ materially from the results and expectations discussed in the forward-looking statements, many of which are beyond the control of the Company. In addition, other factors which could cause actual results to differ materially include the ability of the Company to successfully license its programs within the anticipated timeframe or at all, risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets or other sources of funding, reliance on key personnel, uninsured and underinsured losses and other factors. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
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