Faron Pharmaceuticals OY AIM:FARN
- Incorporated
- Finland
- Chief executive
- Dr Markku Jalkanen
- Reports in
- EUR
Read straight from the annual reports
36.5c at close on 5 Oct 2026 · 6 reported years, 2018–2023
| Line | FY201812/18 | FY201912/19 | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY2026unreported |
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| Revenue | — | ||||||
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| Dividend per share | — | — | — | — | — |
EUR millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
5 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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No product or licence revenue
Revenue is nil in 2023 and 2022; the Company 'has no approved or revenue generating products' and expects losses for the foreseeable future. Future revenue depends on partnering or commercialising bexmarilimab, which is not yet in place.
page 44Potential partnering / licensing income (not yet contracted)
Business development activity is targeted at securing collaboration and licensing deals that could bring up-front and milestone payments and royalties; none are reported as signed.
page 68R&D spend falling, mainly employee benefits at subsidiaries
R&D expenses EUR 19,542k (2022: 20,730k); employee benefits in R&D fell to EUR 3,230k from 5,200k; outsourced clinical trial services fell to 3,997k from 5,112k.
page 55Drug production cost increase
Drug production costs rose to EUR 8,095k from EUR 4,361k as manufacturing scaled for bexmarilimab.
page 55€1.2m charge: Incremental fair value from amending 2015 option plan terms (G&A)
page 162024 is set to be a pivotal year for Faron when BEXMAB will deliver key data giving a clearer direction towards commercialization.
page 1319 Feb 2024: Company in breach of several undertakings under the IPF Facilities Agreement; IPF blocked the Group's bank accounts that are pledged to IPF; Waiver obtained (3 Mar 2024) lowering minimum cash covenant to EUR 4.5m until 30 Apr 2024, thereafter EUR 6.0m or three months' cash runway.
page 72No dividend is proposed for 2023 (2022: nil). The Company has no distributable equity, and the Board does not recommend a dividend.
page 42Going concern uncertainty disclosed in note 2.2 and the directors' report. Group loss EUR 30.9m, operating cash outflow EUR 23.8m, negative equity EUR 15.2m, cash EUR 6.9m, and loan covenants (minimum cash balance; loans EUR 9.4m) with IPF. The Directors state that additional finance is not committed, which constitutes a material uncertainty that may cast significant doubt on going concern. PwC (unmodified opinion) draws attention to a material uncertainty related to going concern and does not modify its opinion on it.
page 74- Going concern: material uncertainty; loan covenants breached in February 2024; IPF blocked bank accounts; reliance on bridge and convertible loans and an approximately EUR 35m longer-term raise.p.17
- Clinical and regulatory: bexmarilimab and other candidates may fail in trials or not obtain FDA/EMA approval; development is highly uncertain and no product is approved.p.20
- Competition from larger pharmaceutical and biotech companies with greater resources.p.20
- Intellectual property: patents may not be granted or may be challenged; litigation costly and may not be successful.p.22
Read from C000453-AR-2023-website.
4 annual reports read, FY2019 to FY2023
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Company website (4)
FY2024Next report expected 24 Mar 2025
FY2020No annual report read for this year