STOCKHOLM, 31 January 2021 – Promore Pharma announces today that the company has had 137 160 warrants deregistered (9 144 prior to split), corresponding to a dilution of 0.2% in programs 1-2 issued to Technomark Group USA LLC ("Technomark") and Kentron Biotechnology Pvt Ltd (" Kentron ”). The warrants were issued on 2016 as part of the remuneration for planned CRO services in the clinical trial PHSU03. After this deregistration, there are no remaining warrants attributed to the agreements between the company and these two service providers.
During the previous year, 2021, the CRO agreement between Promore Pharma and Technomark and Kentron, respectively, was revoked, and in connection with this, the warrants in programs 3-7 were deregistered. Today, the company announces that the remaining warrants related to programs 1 and 2 now have been deregistered in agreement with the partners. These warrants, which have now been deregistered, corresponded to a potential dilution effect of approximately 0.2%.
Following this adjustment, 681 825 warrants remain (45 455 prior to split), corresponding to a dilution of approximately 1.1%, as well as 1 400 000 performance share rights related to LTI 2020, a performance-based incentive program for certain employees and consultants with a potential dilution of approximately 2.3%.