Pharma Equity Group A/S reports H1 2024 net loss, positive phase-2 drug trial results.

From GlobeNewswire: 2024-08-16 02:52:00

Pharma Equity Group A/S has approved their H1 2024 report, showing a net loss of DKK 13.0 million for the first half of the year. The company maintains its 2024 forecast of a pre-tax loss between DKK 24 million and DKK 29 million. They have also received 2 claims totaling DKK 2,625,979, which are under legal review.

Reponex Pharmaceuticals A/S, a subsidiary of Pharma Equity Group A/S, reported positive results from clinical phase-2 trials of their drug candidate RNX-051. The company also raised DKK 11.0 million in convertible loans since January 2024. They have an unused credit facility of approximately DKK 5 million as of June 30, 2024.

Pharma Equity Group A/S is pursuing the recovery of EUR 9.55 million in outstanding payments from Portinho S.A. Despite legal actions and intensified efforts, the payment remains delayed. The company has taken legal action and initiated arbitration proceedings to secure the outstanding debt. The Portuguese law firm handling the case is exploring additional legal actions in Portugal.

The company invites investors to an online presentation of their H1 2024 financial report on August 16, 2024. CEO Thomas Kaas Selsø will discuss the financial results and business developments. Questions can be submitted in advance. Further details and registration can be found on the company’s website. Pharma Equity Group is listed on Nasdaq Copenhagen and focuses on advancing drug candidates through its subsidiary, Reponex Pharmaceuticals A/S, committed to adding value to medical projects and exploring strategic investments for future growth.



Read more at GlobeNewswire:: Konsolideret delårsrapport 1. januar – 30. juni 2024