From GlobeNewswire:

The company has communicated that it has been working to optimize company’s capital structure and provide a strategic update for future activities. Since May 2023, the company has sold off remaining assets while the stock price has dropped 98-99% since its 2017 IPO. The company had 12,500 shareholders with 82% holding shares valued at less than 1,000 DKK. To reduce costs, a reverse stock split reduced shareholders to 2,200. A capital reduction and strategic partnerships are also planned for the future.

In 2023, the board met with various biotech companies to make investments or strategic partnerships. The company plans to raise capital to invest and collaborate with biotech companies, aiming for the first strategic investment/partnership to be announced in H1-2024. The ongoing US Security Class Action case is scheduled for a hearing. The final settlement figure is expected to be 2 million USD, with preparations for the 2023 financial results and 2024 expectations underway.

For more information, please contact Michael Hove, Chairman of the Board at +45 28126609.



Read more: Business update