Faron Pharmaceuticals (FARON) investor relations material

Executive summary

• Achieved significant clinical and financial milestones in H1 2025, including positive Phase II results and full enrollment for bexmarilimab in high-risk myelodysplastic syndrome (HR MDS), and regulatory progress.

• Advanced lead asset BEX (bexmarilimab) for HR MDS, with promising efficacy and safety data, and secured orphan drug designations from FDA and EMA.

• Strengthened management and board with experienced pharma professionals to support business development and commercial strategy.

• Presented data at major scientific congresses and published in top-tier journals, highlighting strong clinical progress.

Financial highlights

• Ended H1 2025 with a cash balance of EUR 13.5 million, down from EUR 30.0 million in 2024, maintaining a strong financial position.

• Operating loss for H1 2025 was EUR -11.9 million, compared to EUR -11.3 million in H1 2024.

• Loss per share improved to EUR 0.18 from EUR 0.20 year-over-year.

• R&D expenses increased to EUR 7.1 million from EUR 6.7 million year-over-year, mainly due to clinical program advancement.

• Net assets were EUR -16.7 million at period end, compared to EUR 1.4 million in 2024.

Outlook and guidance

• Preparations underway for a large, multicenter, multinational Phase II/III trial in frontline HR MDS, targeting 80–90 sites across the US, Europe, and Japan, with first patient-in expected in H2 2025.

• Cash runway extends into Q1 2026, with flexibility to draw additional tranches from the convertible bond arrangement.

• Accelerated approval for BEX in frontline HR MDS possible as early as 2028.

• Ongoing partnering discussions, supported by a top-tier investment bank, to maximize shareholder value and support further development.