La Biotech Pharnext s’introduit sur Alternext pour s’avancer dans le traitement de l’alzheimer

Back

€30.9million raised; market capitalization €100.4 million

Paris – 18 July 2016– EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for small and medium-sized companies (SMEs), today welcomed French biotech company Pharnext for its first day of trading on Alternext in Paris.

Pharnext is a pioneering pharmaceutical company that develops new therapeutics for severe neurodegenerative diseases—both rare and common, including type A1 Charcot-Marie-Tooth disease and Alzheimer’s disease—for which no adequate treatment is currently available. The company specialises in developing pleodrugs: synergetistic combinations of low doses of drugs already approved to treat other illnesses. It is a commercial approach that addresses some key challenges in the pharmaceutical industry, including the high cost and high rate of failure incurred in drug development.

Pharnext joins a community of 79 life science companies listed on Euronext markets.

The company (ticker code: ALPHA) was listed through the admission to trading on 18 July 2016 of 9,281,820common shares, including 2,854,920 new shares issued as part of a Global Offering.[1]

Pharnext’s admission and issuing price was set at €10.82 per share. Market capitalisation on the day of listing was €100.4 million, and the operation raised a total of €30.9 million.

Prof. Daniel Cohen, MD, PhD, founder and CEO of Pharnext, said: “Today we are pleased to announce the completion of our initial public offering on the Alternext market of Euronext Paris. It represents an important milestone in Pharnext’s growth and its innovative approach that seeks to develop a new generation of drugs. This IPO will primarily serve to finance our Phase 3 study of type 1A Charcot-Marie-Tooth disease for adults, prepare/initiate the pediatric study and launch Phase 2b for our Alzheimer’s disease treatments. Pharnext is a French company listing on Euronext — a market which has in recent years become Europe’s leading financial centre for biotechnology companies, making it the natural choice for us.”



[1]TheGlobal Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries

About Pharnext
Pharnext is an advanced clinical stage biopharmaceutical company founded by renowned scientists and entrepreneurs including Professor Daniel Cohen, a pioneer in modern genomics. Pharnext focuses on neurodegenerative diseases and has two lead products in clinical development: PXT3003 is currently in an international Phase 3 trial for the treatment of Charcot-Marie-Tooth disease type 1A and benefits from orphan drug status in Europe and the United States. PXT864 has generated positive Phase 2 results in Alzheimer’s disease. Pharnext is the pioneer of a new drug discovery paradigm: pleotherapy. The Company identifies and develops synergic combinations of repositioned drugs at low dose. These “pleodrugs” offer several key advantages: efficacy, safety, and intellectual property including several composition of matter patents already granted. The Company is supported by a world-class scientific team.
The company Pharnext is listed on Euronext Alternext Stock Exchange in Paris (ISIN code : FR00111911287).
For more information please visit www.pharnext.com

 

Press Release Footer

About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With nearly 1,900 listed issuers and around €6.6 trillion in market capitalisation as of end December 2023, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
For the latest news, follow us on Twitter (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).

Disclaimer
This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at www.euronext.com/terms-use.

© 2024, Euronext N.V. - All rights reserved.