Newron Pharmaceuticals - Evenamide safety trial underway

Newron is focusing on its novel schizophrenia drug, Evenamide, and on a further Xadago study. The Evenamide preclinical studies required by the FDA have been successfully completed. A four-week, 120-patient Phase II safety study is now underway to report in Q121; Newron notes that Phase III could start in Q221. Discussions with Zambon on a Xadago dyskinesia study are progressing. Newron drew down a €7.5m EIB loan in April (a €15m loan facility remains) and had €39m cash at end December 2019. Newron has cash well into 2022. Our indicative value remains at CHF121m.