Kinarus Therapeutics Holding AG ('Kinarus') receives deadline extension from SER for publication of its 2022 annual financial report

Kinarus Therapeutics Holding AG / Key word(s): Annual Results

28-Apr-2023 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Ad hoc announcement pursuant to Art. 53 LR

Basel, Switzerland, 28 April 2023. Kinarus Therapeutics Holding AG (SIX: KNRS) (“Kinarus”), a clinical-stage biopharmaceutical company developing novel therapeutics to treat viral, respiratory, and ophthalmic diseases announced that on 27 April 2023 SIX Exchange Regulation ("SER") approved a deadline extension until the end of May 2023 for the publication of the Kinarus 2022 annual financial report. In addition, in line with the decision of SER, Kinarus will publish certain unaudited key financial figures for the financial year 2022 by 5 May 2023.

In accordance with the regulations of SIX Swiss Exchange, Kinarus applied to SER for an extension of the deadline for publication of its 2022 annual financial report. Kinarus is currently finalizing the financial statements on a consolidated basis, including its subsidiaries, as required for the annual financial reporting requirements. Such finalization had to be deferred due to various outstanding information and the verification of such information. Also, Kinarus only recently became a listed company after completion of the reverse takeover in June 2022 and various processes relating to financial reporting of Kinarus had to be established within a very short period of time. Ernst & Young, Kinarus’ auditors will conclude its audit of the financial statements as soon as possible upon receiving the required input from Kinarus.

“The Kinarus management and board of directors are working intensively to finalize the 2022 annual financial report and are confident that the audited financial statements will be published in the course of May 2023" said Alexander Bausch, CEO of Kinarus.

As required by SER, Kinarus hereby reprints para. I of SER’s decision (translation from German original):

I. The exemption from obligations for the maintaining of the listing and, therefore, the extension of the deadline to publish the 2022 annual report and to file such report with SIX Exchange Regulation AG by Wednesday, 31 May 2023 at the latest is granted with the following reservation (lit. a) and under the following conditions (lit. b):

    a. SIX Exchange Regulation AG reserves the right to potentially suspend trading of the registered shares of Kinarus in case its 2022 annual report is not published in accordance with the provisions on ad hoc publicity (Art. 53 of the Listing Rules [LR] in connection with the Directive on Ad hoc Publicity [DAH]) and not filed with SIX Exchange Regulation AG by Wednesday, 31 May 2023, 11.59 pm, at the latest.

    b. Kinarus is required to publish a notice in accordance with the provisions on ad hoc publicity (art. 53 LR in connection with the DAH) concerning this decision by 28 April 2023, 7.30 am, at the latest. The notice must contain:

    - an unaltered reproduction of the wording of para. I. of this decision, placed in a prominent position;

    - the reasons for the postponement of the publication of its 2022 annual report and of the filing such report;

    c. Kinarus is required to publish a notice in accordance with the provisions on ad hoc publicity (art. 53 LR in connection with the DAH) concerning this decision by 5 May 2023, 7.30 am, at the latest. The notice must contain:

    - the unaudited key figures such as net revenues, EBITDA, EBIT, profit/loss, balance sheet total, equity etc. with respect to the annual results 2022.

Kinarus Therapeutics Holding AG (www.kinarus.com) was founded in 2017 by experienced pharmaceutical executives in Basel, Switzerland. The Kinarus team utilizes its knowledge and drug development competencies to in-license and develop mid-stage clinical assets in which they have identified an increased probability of clinical and regulatory success and a rapid path to market. Kinarus possesses the exclusive worldwide license to pamapimod covering all indications.

Legal disclaimer

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL NOR AN INTIMATION TO SUBMIT A PROPOSAL FOR THE ACQUISITION OF SECURITIES OF KINARUS THERAPEUTICS HOLDING AG. THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN ANY JURISDICTION WHERE IT IS UNLAWFUL TO BE DISTRIBUTED.