Hemogenyx Pharmaceuticals CEO Discusses Share Consolidation and Upcoming Clinical Trials for HEMO-CAR-T

Hemogenyx Pharmaceuticals PLC (LSE:HEMO, OTC:HOPHF) is moving forward under CEO Dr. Vladislav Sandler and non-executive director Peter Redmond. They discussed important changes for the company during an interview.

The company announced an extraordinary general meeting (EGM) to seek approval for two major changes. Peter Redmond explained that the first reason for these changes is the need for additional capital as the company approaches a crucial development stage. Although Hemogenyx has mostly relied on private client support, it now wants to attract institutional investors. Redmond noted that UK institutions have avoided investing in penny stocks. To make the company more appealing, Hemogenyx will consolidate its shares, aiming for a higher share price.

Share price has not responded positively to good news. Hemogenyx wants to avoid raising funds at extremely low prices. The consolidation gives the company flexibility and aims to enhance its capital structure ahead of clinical trials for its HEMO-CAR-T product.

The timing of these changes is important. The company is in talks with larger investors who require a more serious share price. Clinical trials for HEMO-CAR-T are approaching, making this an ideal moment for consolidation.

Dr. Sandler highlighted the progress made towards clinical trials. Hemogenyx has met hospital requirements, including approval from the scientific review committee and the internal review board (IRB). They received IRB approval, which is a significant milestone for the company. Following a site initiation visit, Hemogenyx is now waiting to officially open the trials and begin patient recruitment.

While Dr. Sandler could not provide an exact timeline for the trials, he noted that recruitment will depend on finding suitable patients.

Peter Redmond emphasized that reaching this point is critical for shareholders. The reorganization will help the company access quality funds to move forward with trials and other projects. Dr. Sandler agreed, stating that targeting institutional investors is crucial for Hemogenyx’s success. The share price will play an important role in securing their support.