viewFaron Pharmaceuticals Ltd

Faron confirms no known reason for share price surge

The biotech saw its shares jump 14.9% to 205p in mid-afternoon trading on Friday

Faron Pharmaceuticals Ltd - Faron confirms no known reason for share price surge
The company said it is continuing to progress with its Clevegen cancer treatment

Faron Pharmaceuticals Ltd (LON:FARN) has confirmed that it knows of no operational or corporate reason why its share price shot up on Friday.

The biotech, which saw its shares jump 14.9% to 205p in mid-afternoon trading, reiterated previous announcements that it was continuing to progress its key product Clevegen through the MATINS trial and is seeking advice from the Food and Drug Administration (FDA) regarding future Traumakine development.

READ: Faron Pharma “extremely happy” with progress of Clevegen trial

Faron also said it is currently funded into early 2020 and continues to explore additional potential sources of funding, as well as continuing partnership discussions in respect of Clevegen to support the expansion of clinical development and explore the potential of Clevegen in combination with existing cancer therapies, including also other immunotherapies.

The company is also investigating various options to facilitate easier trading of its shares, especially for Finnish investors, including the possibility of dual listing on the Nasdaq First North Growth Market, although a final decision has not been made.

Quick facts: Faron Pharmaceuticals Ltd

Price: 440 GBX

Market: AIM
Market Cap: £205.92 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Faron Pharmaceuticals Ltd named herein, including the promotion by the Company of Faron Pharmaceuticals Ltd in any Content on the Site, the...


Market report: FTSE fragile Friday despite UK shoppers continuing to splurge...

Good morning, it’s a fragile Friday for the FTSE despite signs of some retail therapy as British retail sales continued to increase for the fourth consecutive month, boosted by spending on household goods and DIY, according to the ONS.  J Sainsbury PLC (LON:SBRY) is up after a...

2 days, 20 hours ago

2 min read