Invest Securities reaffirms its 'buy' recommendation on TME Pharma, with an updated target price of 0.4 euros versus 4.2 euros previously, following Friday evening's announcement of an original financing of 2.7 million euros, with a potential upside to 4.9 million.

'Although open to the public, this transaction is 100% guaranteed by a group of Dutch investors. The proceeds of the offer should help secure the company's activities until May 2024, and potentially until September 2024", notes the analyst.

"In addition, TME Pharma plans to buy back part of the convertible bond debt that still exists, as ASO has agreed to integrate a lock-up into the conversion of the OCAs", adds the analyst.

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