On Wednesday, Theranexus unveiled its cash position at the end of 2022 and a change in its organization, two announcements which were welcomed by the market.

The biopharmaceutical company, which specializes in the treatment of
neurological diseases, reports that its available cash stood at 9.1 million euros at December 31, compared with 11 million at the end of September.

In its press release, the Lyon-based company refers to a level in line with its forecasts, guaranteeing it 'good financial visibility for the 2023 financial year'.

Theranexus has also announced the dissociation of the functions of Chairman of the Board of Directors and Chief Executive Officer.

Mathieu Charvériat has been promoted to Chief Executive Officer, with responsibilities that will see him lead the next stages of the strategic plan, starting with the launch of the pivotal phase 3 pediatric trial of Batten-1 and our innovative drug discovery platform.

The Board of Directors has appointed Franck Mouthon, who until now held the position of CEO, as Executive Chairman.

Following these announcements, the share price climbed over 11% on Wednesday on the Paris Bourse.

Franck Mouthon and Mathieu Charvériat co-founded Theranexus in 2013.

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