Bone Therapeutics slumps after fourth quarter update

Biosenic SA

19/01/2022 11:14

** Shares in Bone Therapeutics  BOTHE.BR  drop about 6%
after the Belgian biopharmaceutical company announced its Q4
business update  urn:newsml:reuters.com:*:nFWN2TY1DA
    ** The company said its end-December net cash position was
9.5 million euros, adding it anticipated the net cash burn for
2021 to come in range of 16-18 million euros 
    ** Commenting on its ongoing Phase IIb trial of the ALLOB
treatment of tibial fractures, the company didn't rule out a
possible delay of topline results, now expected in the first
quarter of 2023
    ** In November, the company had signed a non-binding term
sheet with Chinese partner Link Health Pharma Co, through which
the latter would be responsible for all future costs of
development of its ALLOB cell treatment  urn:newsml:reuters.com:*:nFWN2SI017
    ** Bone Therapeutics now says that the envisaged signing of
a final binding agreement has been delayed, now expected over
the course of the first quarter of 2022
    

 (Reporting by Olivier Sorgho in Gdansk)
 ((Olivier.sorgho@thomsonreuters.com))