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Helixmith Plunges On Warning Of Possible Offering Delay

Investment Losses Also Concern Shareholders

 
• By Jung Won Shin

Korean venture Helixmith faces another setback following a missed Phase III endpoint for its plasmid DNA neuropathy candidate, with its shares plunging after it warned of a possible delay in a planned rights offering, amid concerns from minority shareholders over other investment losses.

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Delayed Offering Could Place Helixmith Shares Under Market Supervision • Source: Shutterstock

Helixmith Co., Ltd. shares have fallen sharply on concerns over its financial standing as it reported hefty investment losses and a possible delay in a planned rights offering this year.

In a market disclosure, the South Korean biotech said if the rights offering - worth up to KRW286bn ($251m) and first announced in September - is delayed and cannot be...

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