Spexis AG / CH0106213793
29.07.2024 - 07:15:12Spexis granted definitive moratorium status until 25 November 2024, subject to monthly progress report obligations, and which can be potentially extended at the request of the administrators.
Spexis AG / Key word(s): Miscellaneous 29-Jul-2024 / 07:15 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR Allschwil, Switzerland, 29 July 2024 Spexis AG (SIX: SPEX), a clinical-stage biopharmaceutical company focused on macrocycle therapeutics for rare diseases and oncology, today announced that pursuant to the hearing held on 23 July 2024 with the Basel-Landschaft West court, it was granted definitive moratorium status until 25 November 2024, with said definitive moratorium status potentially extendable upon request of Spexis’ administrators. This status came with the condition that periodic reporting on its fundraising and corporate partnering progress be submitted to the court. Similar to its previously granted provisional moratorium status, the court can order the Company to be liquidated or declared bankrupt at any time. As such, absent any financing secured during the term of the definitive moratorium period, there is a substantial risk that the Company will have to be either liquidated or be declared bankrupt. Jeff Wager MD, Chair & CEO of Spexis, commented on the court decision, “We are very pleased that the court deemed the prospects for potential moratorium exit sufficient to allow Spexis to continue its ongoing fundraising and partnering activities. We are working as diligently as possible to secure the best possible outcome for our creditors and shareholders, and will further inform the market if and as soon as pertinent developments warrant. In the meantime, we wish to deeply thank all of our stakeholders for the patience they have exhibited throughout this difficult time.” About Spexis Spexis (SIX: SPEX) is a clinical-stage biopharmaceutical company based in Allschwil, Switzerland, focused on macrocycle therapeutics for rare diseases and oncology. For further information please visit: www.spexisbio.com. For further information please contact:
End of Inside Information |
Language: | English |
Company: | Spexis AG |
Hegenheimermattweg 125 | |
4123 Allschwil | |
Switzerland | |
Phone: | +41 61 567 1600 |
Fax: | +41 61 567 1601 |
E-mail: | info@spexisbio.com |
Internet: | www.spexisbio.com |
ISIN: | CH0106213793 |
Valor: | SPEX |
Listed: | SIX Swiss Exchange |
EQS News ID: | 1955505 |
End of Announcement | EQS News Service |
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