leadf
logo-loader
viewFaron Pharmaceuticals Oy
(
AIM:FARNOTC:FPHAF
)

Faron jumps as CEO indicates Traumakine study has secured third-party financing

In an interview with Proactive, Dr Markku Jalkanen indicated that the firm had “an understanding that we have third-party financing for the trial”

Faron Pharmaceuticals Ltd - Faron surges as CEO says Traumakine study has secured third-party financing

Faron Pharmaceuticals Oy (LON:FARN) (FIRSTNORTH:FARON) shares jumped on Tuesday after the company’s chief executive indicated the firm has secured third-party financing for a second phase III study of its Traumakine treatment for acute respiratory distress syndrome (ARDS).

In an interview with Proactive on Monday, Dr Markku Jalkanen said the firm had “an understanding that we have third-party financing for the trial”, however, he did not disclose the exact source of the funding.

The Faron boss also noted that, amid the ongoing outbreak of coronavirus, the World Health Organisation (WHO) has recommended that steroids should not be used to treat infected patients as they block the production of interferon-beta, one of the first lines of defence against viral infections.

As Traumakine is an interferon-beta medication that does not require the overlapping use of steroids, Jalkanen said the firm was “absolutely” seeing more interest in its treatment following the outbreak.

Faron shares were 12.2% higher at 272p in mid-morning trading.

Quick facts: Faron Pharmaceuticals Oy

Follow
AIM:FARN

Price: 420 GBX

Market Cap: £211.92 m

Add related topics to MyProactive

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

NO INVESTMENT ADVICE

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 named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Faron Pharmaceuticals presenting at the Proactive One2One Virtual Forum -...

Faron is a clinical stage biopharmaceutical company focused on building the future of immunotherapy by harnessing the power of the immune system in order to tackle cancer and inflammation. Since our founding in 2007, our goal has been to develop a diverse and unique pipeline rooted in high...

2 days, 22 hours ago

2 min read