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    FARN   FI4000153309

FARON PHARMACEUTICALS OY

(FARN)
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Faron Pharmaceuticals Doses First Patient in Phase II/III HIBISCUS Trial of Traumakine for Treatment of Hospitalized COVID-19 Patients

08/25/2021 | 02:00am EDT

Faron Pharmaceuticals Oy announced that the first patient has been dosed in the Phase II/III HIBISCUS trial assessing Traumakine (Intravenous Interferon beta-1a; IFN beta-1a) as a first-line treatment for hospitalized COVID-19 patients. Traumakine is an investigational therapy developed by Faron for the potential treatment of acute respiratory distress syndrome (ARDS), acute kidney injury, cardiac protection, prevention of solid organ transplant failure and ischemia reperfusion injury. The HIBISCUS study will be conducted in approximately 10-15 study sites across the US and will enroll 140 patients who require low flow oxygen support, but not mechanical ventilation. Patients will be randomized 1:1 across two study arms to assess the safety and efficacy of Traumakine compared to corticosteroid treatment with dexamethasone. As part of the trial protocol, corticosteroid treatment concomitantly with Traumakine is not possible in the study setting but is enabled in a sequenced manner following treatment with Traumakine. The primary efficacy endpoint is clinical status (WHO 9-point ordinal scale) at day 14. Key secondary endpoints for the study include clinical status at day 28 and in-hospital mortality at days 28 and 90.


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Financials
Sales 2021 - - -
Net income 2021 -16,8 M -19,5 M -19,5 M
Net cash 2021 10,8 M 12,5 M 12,5 M
P/E ratio 2021 -13,4x
Yield 2021 -
Capitalization 215 M 250 M 250 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 30
Free-Float 56,5%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 4,03 €
Average target price 5,75 €
Spread / Average Target 42,5%
EPS Revisions
Managers and Directors
Markku Tapani Jalkanen Chief Executive Officer & Executive Director
Toni Haenninen Chief Financial Officer
Frank Murdoch Armstrong Non-Executive Chairman
Matti Karvonen Chief Medical Officer & VP-Drug Development
Jami Mandelin Research Director
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