Saniona provides update on outstanding option programs
August 5, 2022
Saniona (OMX: SANION), a clinical stage biopharmaceutical company, today announced that 6,450,734 options have forfeited in 2022, leading to a reduction in potential dilution from 11.89% to 3.06%.
As of December 31, 2021, the company had 8,402,181 options outstanding entitling to the subscription of maximum 8,420,812 new shares representing a dilution of 11.89 percent.
As of July 31, 2022, the company has 1,951,447 options outstanding entitling to the subscription of maximum 1,966,211 new shares representing a dilution of 3.06 percent.
The company currently has several outstanding option programs. For a description of these programs, please see note 12 in the annual report for 2021 as well as note 5 in the interim report for the period January – March 2022. As a result of terminations of employees during March and April 2022, certain options previously granted have forfeited after March 31, 2022.
For more information, please contact
Thomas Feldthus, CEO, +45 22109957; [email protected]
This information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on August 5, 2022.
Saniona is a clinical-stage biopharmaceutical company with a mission to leverage its ion channel targeting expertise to discover, develop and deliver innovative rare disease treatments. The company’s most advanced product candidate, Tesomet™, has been progressed into mid-stage clinical trials for hypothalamic obesity and Prader-Willi syndrome, serious rare disorders characterized by severe weight gain, disturbances of metabolic functions and uncontrollable hunger. Saniona has developed a proprietary ion channel drug discovery engine anchored by IONBASE™, a database of more than 130,000 compounds, of which more than 20,000 are Saniona’s proprietary ion channel modulators. Through its ion channel expertise, Saniona is advancing two wholly owned ion channel modulators, SAN711, SAN903. SAN711 has successfully completed a Phase 1 clinical trial and is positioned for the treatment of neuropathic pain conditions; SAN903 is in preclinical development for rare inflammatory, fibrotic, and hematological disorders. Saniona is based in the Copenhagen area, Denmark, and is listed on Nasdaq Stockholm Small Cap (OMX: SANION). Read more at http://www.saniona.com.