2023-09-14 13:57:17
September 13, 2023 Today at 10:54
At the start of the session, Mithra soared 20% on Euronext Brussels before falling somewhat later. Here are several avenues that might explain this new bout of fever of an action that has become highly speculative.
And now the action Mithra
jumped once more on Euronext Brussels, gaining up to 20% on Wednesday morning before limiting its rebound to 9.14%. How to explain this new surge? Several tracks.
The Liège biopharma specializing in women’s health published, Tuesday following the market, two press releases. In one, it specifies that in accordance with the terms and conditions of the offer of 125 million euros of convertible bonds maturing in 2025, the bond conversion price has been adjusted from 23.8262 euros to 23.2370 euros, with effect from August 28, 2023.
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Mithra raises 20 million euros from the American fund Armistice Capital
And in the other, as part of the recent private placement concluded with Armistice Capitalthe latter now holds 14.58% of its capital, which makes it the second shareholder behind François Fornieri (19.74%) and ahead of Noshaq (9.87%).
Armistice Capital might even gain further momentum since an options system allows it to acquire new additional shares, over two different maturities, for a total amount of 45 million euros. This information is not really new since the private placement was completed at the end of August.
Assignment and license agreement
Two other elements might also explain this umpteenth bout of fever of the Mithra action. But they are purely speculative regarding their timeline.
Two days ago, in a letter to shareholders, David Horn Solomonthe new CEO of Mithra, indicated that “strategic alternatives” were being studied for two ancillary activities of the company: a subsidiary dedicated to the development of complex generic products, Novalonand the CDMOsa manufacturing unit. Could an outcome be imminent for one of these cases?
Next, the market is still awaiting the announcement of a licensing agreement for the marketing of Donesta in the United States.
Then the market is still waiting for the announcement a licensing agreement for the marketing of Donesta in the United States, a treatment for the adverse effects of menopause. At the end of July, such an agreement was concluded with Searchlight Pharma for Canada, with a maximum amount of 17.05 million euros and royalties on future sales.
On the side of financial analysts, no change. They are all four to “keep” on the value with an average price target of 3.27 euros, which represents an upside potential of 48.6%.
Despite the rebound observed this Wednesday, Mithra stock still shows a fall of around 35% since the beginning of the year.
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