InDex Pharmaceuticals provides an update on company’s future
26 February, 2024 – InDex Pharmaceuticals Holding AB (publ) (“InDex Pharmaceuticals”) announces that, in light of today’s separate press release, with the announcement that the development of cobitolimod is discontinued, the company is evaluating other alternatives to maximize shareholder value. Alternatives such as merger and reverse merger are weighed against company liquidation. InDex Pharmaceuticals will not proceed with development of any of its other compounds.
A step-wise approach has been adopted to narrow down the number of options. Company liquidation is considered in parallel at every step. The evaluation is conducted with support from an external financial advisor. The evaluation is expected to be finalized by end of Q1.
The outcome of the evaluation will form the basis for the Board’s recommendation to shareholders. Any decision on how to proceed will be subject to shareholder approval at a general meeting.
Investor update
The company will hold an investor update on 28 February at 09:00. The investor update will be hosted by CEO Jenny Sundqvist, CFO and deputy CEO Johan Giléus and CDO Eva Arlander. A short presentation, which will be held in English, will be followed by a Q&A session open to all viewers via the chat function. If you wish to attend the call, please log in at: https://www.redeye.se/events/975481/investor-update-index-pharmaceuticals-2
For more information:
Jenny Sundqvist, CEO
Phone: +46 8 122 038 50
E-mail: jenny.sundqvist@indexpharma.com
Johan Giléus, CFO and deputy CEO
Phone: +46 8 122 038 50
E-mail: johan.gileus@indexpharma.com
Publication
The information was submitted for publication through the agency of the contact person set out above at 17.25 CET on February 26, 2024.
This is an English translation of the Swedish press release. In case of discrepancies between the English translation and the Swedish press release, the Swedish press release shall prevail. Information in this press release is intended for investors.
InDex Pharmaceuticals in brief
InDex Pharmaceuticals has a vision to help patients with immunological diseases where there is a high unmet medical need. Cobitolimod was being evaluated in the phase III program CONCLUDE for moderate to severe left-sided ulcerative colitis – a debilitating, chronic inflammation of the large intestine.
InDex Pharmaceuticals is based in Stockholm, Sweden. The company’s shares (ticker INDEX) are traded on Nasdaq First North Growth Market Stockholm. Redeye AB is the company’s Certified Adviser. For more information, please visit www.indexpharma.com.