Faron Pharmaceuticals Limited (AIM:FARN) chief executive Dr Juho Jalkanen described himself "extremely proud" of the clinical-stage biopharmaceutical company's accomplishments in the first half of 2025.
The company, in its half-year results, confirmed a positive cash position with €13.5 million in the bank at the end of June.
This followed an operating loss of €11.9 million for the six months, compared with a €11.3 million loss a year earlier, as the biopharma continued to advance its lead asset, bexmarilimab, in myelodysplastic syndromes (MDS).
The company highlighted that both the European EMA and US FDA granted orphan drug designation for bexmarilimab in MDS during spring 2025, a significant catalyst, and that updated BEXMAB data show increased complete remission in frontline high-risk MDS.
Following an end-of-phase II meeting, the FDA agreed to a registrational phase II/III trial using CR+CReq and overall survival as co-primary endpoints to support accelerated approval.
“I’m extremely proud of our people and what we have accomplished in the first half of 2025,” CEO Jalkanen said.
"We have achieved a number of our main business goals: fully enrolled our BEXMAB phase II study, published very strong phase II efficacy data for bexmarilimab and had the privilege to present it at the world’s leading oncology conferences, we received a series of regulatory designations, enhanced our management team and substantially strengthened our financial position.
"These are absolutely outstanding results from a team of our size."