Brief: Obseva Plans To Initiate A Corporate Restructuring

Obseva SA

27/07/2022 12:54

July 27 (Reuters) - Obseva SA  OBSN.S :
    * OBSEVA ANNOUNCES CORPORATE UPDATES
    * OBSEVA SA - PLANS TO INITIATE A CORPORATE RESTRUCTURING
AND
REFOCUS COMPANY'S DEVELOPMENT AND COMMERCIALIZATION STRATEGY
    * OBSEVA SA - BELIEVES CHANGES NECESSARY DUE TO COMMERCIAL
LANDSCAPE
    * OBSEVA SA - BELIEVES CHANGES NECESSARY DUE TO POTENTIAL
ADDITIONAL CAPITAL NEEDED TO FUND COMPLETION OF LINZAGOLIX
CLINICAL DEVELOPMENT PROGRAM
    * OBSEVA SA - FDA HAS NOTIFIED COMPANY OF REVIEW ISSUES
REGARDING
DEFICIENCIES IN NEW DRUG APPLICATION (NDA) FOR LINZAGOLIX FOR
UTERINE FIBROIDS
    * OBSEVA SA - REVIEW ISSUES PRECLUDE DISCUSSION OF LABELING
AND
POST-MARKETING COMMITMENTS AT THIS TIME
    * OBSEVA SA - CONTINUES TO ENGAGE IN COMMUNICATIONS WITH FDA
    * OBSEVA SA - BELIEVES THAT RESOLUTION OF IDENTIFIED REVIEW
ISSUES
MAY NOT BE FEASIBLE BY SEPTEMBER 13, 2022 TARGET ACTION DATE
    * OBSEVA SA - BOARD HAS DECIDED TO TERMINATE  LICENSE
AGREEMENT
WITH KISSEI FOR LINZAGOLIX
    * OBSEVA SA - PLANNED RESTRUCTURING TO RESIZE CO TO BE ABLE
TO
MEET OTHER LICENSE OBLIGATIONS, ASSESS STRATEGIC OPTIONS FOR
PIPELINE DEVELOPMENT
    * OBSEVA SA - INTENDS TO RESTRUCTURE ITS OPERATIONS TO
SUPPORT
EXISTING LICENSE AGREEMENTS
    * OBSEVA SA - WILL ASSESS STRATEGIC OPTIONS WITH RESPECT TO
PIPELINE DEVELOPMENT AND WORLDWIDE RIGHTS IT HOLDS FOR
NOLASIBAN, EXCLUDING CHINA
    * OBSEVA SA - FINAL DECISION ON EXTENT OF RESTRUCTURING WILL
BE
TAKEN FOLLOWING A CONSULTATION PROCESS WITH COMPANY'S EMPLOYEES

Source text for Eikon:  ID:nGNX2Ps61z 
Further company coverage:  OBSN.S 

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