Brief: Pure Biologics To Seek Extra Financing For PB003 And PB004 Projects

Multiqure SA

20/02/2023 07:09

Feb 20 (Reuters) -  PUR1.WA :
    * SAID ON FRIDAY IT HAS RESOLVED TO START REVIEW OF
STRATEGIC
OPTIONS FOR FURTHER GROWTH
    * THE COMPANY SEES NECESSITY OF RAISING ADDITIONAL FINANCING
CRUCIAL FOR MAINTAINING PLANNED RATE OF COMMERCIALISATION OF
PB003 AND PB004 PROJECTS
    * STUDIES FOR IDENTIFYING LEADING DRUG MOLECULES IN SAID
PROJECTS
ARE AT A FINAL STAGE DEEMED DO BE COMPLETED IN PHASE 0 IN 2023
    * FINAL RESULTS CONFIRMING FURTHER DEVELOPMENT OF BOTH
PROJECTS
ARE EXPECTED IN MARCH/APRIL
    * FOLLOWING PHASE 0 IT WILL BE POSSIBLE TO START PHASE 1
CLINICAL
TRIALS FOR BOTH PROJECTS IN 2024
    * MANAGEMENT ESTIMATES THAT THE COMPANY'S CASH REQUIREMENTS
RELATED TO CONTINUATION OF STRATEGIC PLANS IN 2023-2024 YEARS
ARE BETWEEN 70 MILLION ZLOTYS TO 110 MILLION ZLOTYS
    * THE COMPANY SEES NEED OF RAISING SAID CAPITAL WITHIN A
HORIZON
OF ABOUT FIVE MONTHS
    * THE COMPANY ASSUMES THAT THE LEADING SCENARIO FOR RAISING
FINANCING WOULD BE VIA NEW SHARE ISSUE, WHILE IT SIMULTANEOUSLY
LOOKS AT ALTERNATIVE WAYS AND SOURCES
    * NO DECISION REGARDING POTENTIAL ISSUE HAS BEEN MADE YET
    * HOWEVER THE MANAGEMENT WILL CONVENE AN EXTRAORDINARY
GENERAL
MEETING (EGM) IN WHICH IT WILL PRESENT A RESOLUTION ALLOWING
INCREASE OF THE COMPANY'S SHARE CAPITAL

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM38Qtl2a
 Further company coverage:  PUR1.WA  
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