Sulforaphane-based medicines developer Evgen Pharma (LON: EVG) has issued a notice of dispute with Stalicla its partner in autism spectrum disorder and other neurodevelopmental disorders. The share price has fallen by more than one-quarter to 1.1p, which is a new all-time low.
AIM-quoted Evgen Pharma licenced the global rights for SFX-01 in neurodevelopmental disorders and schizophrenia. The initial payment was $500,000 with a further $500,000 due on completion of the human volunteer phase 1 study. That was completed in August 2023. The dispute resolution process has been started so that the payment is received.
In January, Stalicla raised $17.4m in a Series B fundraising and a credit facility.
Evgen Pharma had a cash of £3.7m at the end of September 2023. That was after a cash outflow from operations of £1.3m.
