Jan 30 (Reuters) - Molecure SA MOCP.WA:
DECIDES TO CLOSE RNA PROJECT AND HALTS ALL RELATED RESEARCH ACTIVITIES
TO SUBMIT FINAL PAYMENT APPLICATION TO POLISH AGENCY FOR ENTERPRISE DEVELOPMENT (PARP) FOR RNA PROJECT
DECISION BASED ON ANALYSIS SHOWING NO OBJECTIVE WAY TO DEVELOP REPEATABLE, SCALABLE, COST-EFFECTIVE SCHEME FOR PROJECT'S FURTHER DEVELOPMENT
TO FOCUS RESOURCES ON MOST COMMERCIALLY PROMISING PROJECTS, ESPECIALLY OATD-01 AND OATD-02
ESTIMATES IT WILL NOT HAVE TO RETURN ANY RECEIVED FUNDS FOR RNA PROJECT
WILL NOT UTILIZE REMAINING GRANT AMOUNT OF ABOUT 22.35 MILLION ZLOTYS FOR RNA PROJECT
CLOSURE OF RNA PROJECT REMOVES NEED TO COMMIT ABOUT 15.47 MILLION ZLOTYS NET OF OWN FUNDS
Source text: ID:nEM6tTPLka
Further company coverage: MOCP.WA
(Gdansk Newsroom)
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