Company Announcements

Grant of Options

Source: RNS
RNS Number : 2014A
Faron Pharmaceuticals Oy
22 September 2022

Faron Pharmaceuticals Ltd

("Faron" or the "Company")


Grant of options


Company announcement, September 22, 2022 at 09:00 AM (EEST) / 07:00 AM (BST) / 02:00 AM (EST)


TURKU, FINLAND / BOSTON, MAFaron Pharmaceuticals Ltd (AIM: FARN, First North: FARON), a clinical stage biopharmaceutical company focused on building the future of immunotherapy by harnessing the power of the immune system to tackle cancer and inflammation, announces that the Board of Faron has confirmed the grant of a total of 129,000 options options over ordinary shares in the Company ("Options") under Company's Share Option Plan 2019 (including its UK and US sub plans).


The Options have been allocated under the Share Option Plan 2019 and are exercisable between 24 August 2023 and 24 August 2027, vesting 25% per annum over a period of four years. The exercise price for Options allocated under the Share Option plan is €2.50 per share (£2.11), which is calculated based on the average price per share at which the ordinary shares in the Company have been traded on AIM for 90 days preceding the allocation date of 24 August 2022. The exercise price for Options allocated under the US sub plan is €2.38 per share (£2.01), which is calculated based on the average price per share at which the ordinary shares in the Company have been traded on AIM for 30 days preceding the allocation date of 24 August 2022. The terms of the Share Option Plan 2019 are available on the Company's website at   


The granted Options entitle the option holders to subscribe for a total of 129,000 new ordinary shares in the Company, if exercised in full, and represent 0.23 % of the fully-diluted ordinary share capital of the Company.


Included in the number of Options granted are the following Options which were issued to a director or other persons discharging managerial responsibilities ("PDMRs"):




Options granted 

Erik Ostrowski (U.S Sub-Plan)


Other PDMRs  


Vesa Karvonen (Share Option plan)


Juuso Vakkuri (Share Option plan)





For more information please contact: 


Investor Contact

Faron Pharmaceuticals

Julia Balanova

VP, Investor Relations

Phone: +1 (917) 306-6096


Media Contact

Faron Pharmaceuticals

Eric Van Zanten

VP, Communications

Phone: +1 (610) 529-6219


Cairn Financial Advisers LLP, Nomad 

Sandy Jamieson, Jo Turner 

Phone: +44 (0) 207 213 0880 


Peel Hunt LLP, Broker 

Christopher Golden, James Steel 

Phone: +44 (0) 20 7418 8900 


Sisu Partners Oy, Certified Adviser on Nasdaq First North 

Juha Karttunen 

Phone: +358 (0)40 555 4727 

Jukka Järvelä 

Phone: +358 (0)50 553 8990 


Consilium Strategic Communications 

Mary-Jane Elliott, David Daley, Lindsey Neville 

Phone: +44 (0)20 3709 5700 

About Faron Pharmaceuticals Oy  

Faron (AIM: FARN, First North: FARON) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs caused by dysfunction of our immune system. The Company currently has a pipeline based on the receptors involved in regulation of immune response in oncology, organ damage and bone marrow regeneration. Bexmarilimab, a novel anti-Clever-1 humanized antibody, is its investigative precision immunotherapy with the potential to provide permanent immune stimulation for difficult-to-treat cancers through targeting myeloid function. Currently in Phase I/II clinical development as a potential therapy for patients with untreatable solid tumors, bexmarilimab has potential as a single-agent therapy or in combination with other standard treatments including immune checkpoint molecules. Traumakine is an investigational intravenous (IV) interferon beta-1a therapy for the treatment of acute respiratory distress syndrome (ARDS) and other ischemic or hyperinflammatory conditions. Traumakine is currently being evaluated in global trials as a potential treatment for hospitalized patients with COVID-19 and with the 59th Medical Wing of the US Air Force and the US Department of Defense for the prevention of multiple organ dysfunction syndrome (MODS) after ischemia-reperfusion injury caused by a major trauma. Faron is based in Turku, Finland. Further information is available at 


Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014


Details of the person discharging managerial responsibilities/person closely associated



a)     Erik Ostrowski

b)    Vesa Karvonen

c)     Juuso Vakkuri


Reason for notification






Person discharging managerial responsibilities


Initial notification/


Initial Notification


Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor



Faron Pharmaceuticals Oy





Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted


Description of the financial instrument, type of instrument

Identification Code

Options over ordinary shares

ISIN: FI4000153309


Nature of the transaction

Grant of options made pursuant to the Faron 2019 Option Plan


Price(s) and volume(s)




a)     €2.38(£2.01)

b)    €2.50(£2.11)

c)     €2.50(£2.11)


a)     30,000

b)    30,000

c)     20,000




Aggregated information


- Aggregated Volume


- Price








Date of the transaction

19 September 2022


Place of the transaction




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.