Brief: Combigene Terminates CG01 Epilepsy Program, Implements Cost Reduction

Larkberget AB

28/10/2024 07:56

Oct 28 (Reuters) - Combigene AB  COMBI.ST :
    * TERMINATES CG01 EPILEPSY PROGRAM, IMPLEMENTS COST
REDUCTION
    * MEASURES EXPECTED TO RESULT IN SEK 57 MILLION SAVINGS BY
Q2 2026
    * TO REDUCE EMPLOYEES AND CONSULTANTS BY 45%
    * TO TERMINATE LICENSE FOR EPILEPSY PRODUCTS FOR PETS
    * WRITES DOWN SEK 14 MILLION IN SUBSIDIARY SHARES
    * TO FOCUS ALL ITS RESEARCH AND DEVELOPMENT INVESTMENTS ON
COZY
PROGRAM
    * IN GROUP, GOODWILL VALUE REGARDING CG01 IS WRITTEN DOWN BY
11
MILLION SEK
    * WILL CONTINUE TO EXPLORE OPPORTUNITIES FOR OUT-LICENSING,
COMMERCIALIZATION OF EXISTING ASSETS, NEW POTENTIAL PIPELINE
ASSETS
    * TO ENSURE CURRENT CASH POSITION LASTS AT LEAST UNTIL Q2
2026

Source text:  ID:nMFNb5QD4z 
Further company coverage:  COMBI.ST 

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