Already in bad shape this year, Mithra shares have fallen in the past two days, hitting a new low of €4.57.
Awful year Mithras
The stock market is continuous. company work Liege pharmacy Suffered a new sunstroke on Friday at Brussels Stock Exchange, having already fallen hard the day before. Falling in 4.57 eurosThe stock is now trading 77% Below its level at the beginning of 2022.
The responsible person is none other than Dunstahis medicine hot flashes related to menopause. According to analysts, this is indeed it Foundation stone Title evaluation.
But where did Dunsta go?
After completing a Round table 100 million euros In August, Chief Financial Officer of Mithra, Christopher Marshallhas hinted that the company will enter into license agreement for treatment no later than the fourth quarter. But it is clear that the agreement Waitingwith a quarter in progress.
The lack of news on this company’s flagship product is spooking investors. Especially when it also shows up Mithra burns money faster than expected. Borrowing it in the form of convertible notes, paired with an investment 23.5 million euros By existing shareholders, including Flemish entrepreneurs Mark Cook And the Bart FearlessThe SRIWand the box sniffaccording to the company, to grant it Room to maneuver until the end of the process.
Last week, however, it turned out Insufficient. Mithra declared it She renewed her credit limit with the American Investment Group LDA Capital. In mid-April, the company said it had done so long time The financing agreement with LDA, which dates from 2020 through April 2025.
Therefore receives Mithra 3.7 million euros In exchange for shares issued at a price below the market price. The LDA thus sells as many Mithra shares as possible in the stock exchange through a short sale and then closes this ‘short position’ By offering cheaper shares that you got from the drug company. a Way too expensive To get financing and aggressively Harmful For existing shareholders, analysts say.
Minor shareholders are affected
Over the summer, CEO Leon Van Rompuy He stated again that he wanted to hold those lines of credit with the LDA as much as possible. Contributors pointed this out Heavier on the course about our work.”
“The risk associated with this procedure is high.”
But these Especially small investors Who pays the costs. On Friday, approx 2 million euros Stocks traded before noon. “The risks associated with this procedure are highnotes independent analyst Christoph van Hout, at Kroffinvest.
Analysts also suspect that Mithra is trying win time, Because it will fail to meet the deadline for an agreement on Donesta. At the time of this writing, our editorial staff Haven’t (yet) received an answer community to these questions.