Pharnext announces the implementation of a drastic cost-cutting plan as the company pursues its development of PXT3003, its drug candidate for Charcot-Marie-Tooth disease type 1A (CMT1A).

In order to focus its financial resources on matters directly related to the development of PXT3003, Pharnext has agreed to cease all other operating expenses.

The aim is to reduce cash consumption from an average of ME2 per month in Q1 2023 to an average of ME0.5 and ME0.9 per month from Q1 2024.

In concrete terms, Pharnext intends to stop all preclinical and clinical programs initiated or planned, generating around 70% of the expected savings; streamline internal and external operating costs, generating around 30% of the expected savings.

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