Analyst on Faron’s fines: “Everyone who followed knows”

Pharaoh sai saying from the Disciplinary Board of the Helsinki Stock Exchange and has to pay 30,000 euros.

The disciplinary board of the Helsinki Stock Exchange ordered the pharmaceutical company Faron Pharmaceuticalsille A fine of EUR 30,000 for violating the rules of the stock exchange.

According to the board, Faron did not inform his lender about the takeover of the bank accounts and the change of CEO with sufficient speed. Faron’s answer according to the delay was due to the fact that the company’s practice has been to publish the information to both the Helsinki and London markets at the same time. The events are scheduled for 2024.

In addition, CEO of Faron Juho Jalkanen gave an interview to Arvopaper in 2024, in which, according to the board, it presented overly positive and therefore misleading information about the future of the bexmarilimab drug prototype it had developed. The comments caused significant volatility in Faron’s stock, which rose more than 37 percent compared to the previous day.

The problem was that the expressions used in the interview gave the impression, for example, of partnering as a very certain event, even though no information about the partnership had been made public. According to Faron, no new information was given to the market in the interview, and the price increase does not indicate such, because the stock has been volatile anyway.

Inderes an analyst following Faron Antti Siltanen the fine imposed on Faron is not particularly significant from an investor’s point of view.

Compared to the current financial situation, 30,000 euros is not a particularly significant amount, as Faron collected gross assets of around 40 million euros with the share issue organized in April. The company estimates that the money will be enough until November 2027.

“The big picture is that the money will be enough until November 2027, and this does not change that picture in any way,” says Siltanen.

Nor, according to Siltanen, will the fine cause any significant damage to Faron’s reputation.

“Probably everyone who has followed Faron knows that CEO Jalkanen expresses his opinion colorfully,” says Siltanen.

Siltanen estimates that Faro will take some measures as a result of the disciplinary board’s decision.

On Friday, Faron’s share price did not react significantly to the news and was down about 0.2 percent.