Press release from Companies
Published: 2013-05-27 11:22:37
WntResearch AB (WNT.ST) announces that it has received net proceeds of SEK 2,124 thousand through sales of own shares at an average price of SEK 12.21 per share. WntResearch has thereby fulfilled its obligation to sell its holding of own shares in accordance to the Swedish Companies Act. This transaction has no dilutive effect on the shareholders.
WntResearch has previously announced that it had received 177,500 shares as a gift from one of the founders. WntResearch is obliged to sell these shares in accordance to the Swedish Companies Act. WntResearch has consequently sold the shares in the market during the period April 23 to May 21, 2013. The average price was SEK 12.21 per share. After financial expenses, the company received net proceeds of SEK 2,124 thousands. The transaction has no dilutive effect on the shareholders. CEO Nils Brünner comments: "The proceeds from this transaction will further strengthen our financial position and add value to the clinical development of Foxy-5. We have filed a Clinical Trial Application for a phase 1 trial and we will initiate the trial at the Oncology department at Herlev Hospital as soon as we have the expected acceptance from the Health Authorities in Denmark.” For further information please contact: Thomas Feldthus, CFO WntResearch AB (publ) E-mail: email@example.com Phone: +45 2210 9957 About Foxy-5 Foxy-5 has a significant market potential within oncology. Foxy-5 represents a first-in-class concept for the treatment of cancer. The study drug targets the metastatic process which is the primary reason for cancer deaths. Foxy-5 will be one of the first antimetastatic products ever to enter clinical trials. Foxy-5 offers a potential paradigm shift to influnce the treatment of many large cancer indications including breast-, colon and prostate cancer.