July 9, 2020 / 7:04 AM / a month ago

BRIEF-Theranexus End-June Cash Position At 13.3 Million Euros

July 9 (Reuters) - THERANEXUS SA:

* THERANEXUS ANNOUNCES ITS CASH POSITION AS OF 30 JUNE 2020 AND IMPLEMENTATION OF A MANDATORY CONVERTIBLE BOND FACILITY

* PRO FORMA CASH OF EUR 13.3 M AT 30 JUNE 2020

* BALANCE AS AT 30 JUNE ALSO REFLECTS LIMITED OPERATIONAL CASH OUTFLOW IN Q2 GIVEN THAT COMPANY NO LONGER HAD ANY CLINICAL TRIALS UNDERWAY

* COVID-19 CRISIS AND LOCKDOWN RESULTED IN A REDUCTION IN CERTAIN EXPENDITURE ITEMS, NOTABLY ON RESEARCH AND DEVELOPMENT PLATFORM IN Q2 2020

* IMPLEMENTATION OF FINANCING FOR A MAXIMUM TOTAL OF EUR 4.2 MILLION OVER 12 MONTHS THROUGH ISSUANCE OF WARRANTS TO SUBSCRIBE MANDATORY CONVERTIBLE BONDS REDEEMABLE IN NEW SHARES Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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