Faron Pharma said its cash savings efforts have extended its runway until the third quarter of this year while financier IPF has granted a waiver until the end of June to help find further funding for cancer treatment bexmarilimab.
The waiver extension comes with conditions attached but Faron's incoming chief executive, Juho Jalkanen, said: "I want to truly thank all our vendors, employees, IPF and everybody involved.
“These decisions and actions are never easy, but it really feels like a true group effort that has come together to back the development of bexmarilimab for HMA-failed MDS.
“As previously announced the company is planning to publish initial data from the ongoing Phase II part of the BEXMAB trial, evaluating the safety and efficacy of bexmarilimab in combination with standard of care in patients with hypomethylating agents refractory or relapsed myelodysplastic syndrome (MDS), during the week commencing 20 May 2024.”