With gains of 33%, Néovacs shares were the biggest risers on the Paris stock market on Monday, boosted by the prospect of a major contract for its subsidiary Pharnext.

In a press release, the biotech believes that Pharnext's receipt of two offers valuing its Charcot disease drug candidate at over 250 million euros validates its investment strategy.

In the spring of 2020, Neovacs unveiled a new strategic roadmap based on the pursuit of internal research programs and the implementation of an investment policy in other companies in the sector.

Neovacs - which considers Pharnext to be by far its most promising investment, with an investment of 21 million euros - points out that it could receive a remuneration indexed to the proceeds of the sale of up to 15% of its amount, or to the income from a license (also 15%).

In addition, Néovacs has share warrants enabling it, from early 2024, to acquire up to 30% of Pharnext's capital for an additional investment of 20 million euros.

Based on a financial analysis published by research firm Edison, the total value of Pharnext's assets is currently estimated at 214 million euros.

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