Idorsia falls as it postpones results publication, reports short-term liquidity needs
11/04/2024 08:54
** Idorsia IDIA.S is down 14.6% after the Swiss biotech
company postponed its 2023 and Q1 results publication
** The company requested the right to repay bonds maturing
in 2024 fully or partially in shares of Idorsia
** It called for a bondholder meeting on April 30 for its
outstanding convertible bond maturing July 17, 2024
** Idorsia also announced a further postponement of its
audited full year and Q1 results from April 25 to May 21, with
an update on its FY financial status planned for April 17,
before the bondholder meeting
** "We continue to struggle to understand how the company
will finance its business going forward," Vontobal says, as it
suspends coverage
(Reporting by Marleen Kaesebier)
((Marleen.kaesebier@thomsonreuters.com))