Pharnext announced on Wednesday the extension of its conciliation proceedings until July 15, which will enable it to continue its activities until the results of the Phase III study in China are available.

The biopharmaceutical company states that the President of the Commercial Court has granted its request, which was supported by the conciliator.

In a press release, Pharnext states that it hopes to be able to communicate very shortly on the results of the phase III trial conducted in China by its partner Tasly.

These clinical trials will focus on PXT3003, its drug candidate in development for Charcot-Marie-Tooth disease type 1A (CMT1A), a rare and disabling hereditary peripheral neuropathy.

A conciliation procedure enables a company to reach an agreement with its main creditors with the help of a conciliator.

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