So HCM has over 25% of the voting power. Hopefully the next offering won’t be carried out the same way next year. And hopefully HCM isn’t seeking a controlling interest in Faron. The TOP 6-7 owners can already decide Faron’s matters in terms of voting rights.
To another matter - when is fresh data coming & being announced? That aforementioned November data cut is already quite outdated..
I wonder if it works now:
So basically the potential ownership is that 25%, if all convertible bonds are paid in shares over the years. HCM would also have to hold the shares they receive, which they haven’t done so far. It probably didn’t come as a surprise to anyone that HCM has granted Faron a convertible bond. The flagging obligation was just exceeded now that they received shares from the offering.
Since I don’t know, I’ll ask: what company is this HMC?
Looking at the changes in the shareholder list now, what catches my attention is that very few on the top 100 list have increased or decreased their holdings. A few new names have also joined the list. I personally interpret this to mean that there is a general “wait-and-see” attitude, with no desire to commit further capital. It may be that the success of the next share issue could prove difficult unless truly positive research results or other news are received before then.
I’m personally waiting until slightly into May so the correct figures will be visible. I’m very interested to see, for example, if Mr. Koivu has exercised his subscription rights?
So, are the shares from the offering still not showing up? This drip-feeding is annoying.
The change in HCM’s share count is the same as the current number of holdings. The shares previously received have therefore been sold off 100%.
Wait a second, am I interpreting this correctly: HCM’s ownership in the PREVIOUS “previous notification” was 8.37% and has now increased to 10.37% with the offering? Am I misinterpreting this. And the potential is that 53 million, once the loans are paid.
A quick look at what has been converted for HCM:
That’s about 6 million.
So HCM hasn’t sold the shares it received but has instead increased its ownership; will it soon be sold to the Chinese, or have they always been selling into the bid?
You’re misinterpreting this. Every one of those previous batches of shares has been fully sold to the market. HCM had zero (0) shares before the issue shares, because all previously received shares have already been sold. They always sell all shares to the market immediately.
Now that they received quite a lot at once, it might take a moment, but I firmly believe that they will sell these too as quickly as they can. Their acquisition price, taking the subscription fee into account, is significantly lower than the current price, so they still make a profit by selling now.
https://www.nature.com/articles/s41388-026-03743-7
A recent high-quality US study identifies the SPP1–TWIST1–SPON2 axis as a central mechanism in the spread of colorectal cancer. It is a self-reinforcing loop that connects the stroma, metastasis, and immune suppression. It accelerates tumor progression, increases tissue hardening (fibrosis), and prevents the immune system from accessing the tumor.
Bex affects the macrophages that produce SPP1, and when this supply is reduced, the entire chain weakens.
Now the flaggings I was expecting have arrived, though slightly late in HCM’s case. Acme appears to have continued selling shares after the previous flagging, when taking the 2 million share subscription commitment into account. Syrjälä’s personal holding increased nominally, but they didn’t participate in the offering very aggressively.
HCM flagged twice today: first for the shares received through the guarantee in the offering, and then immediately after for the shares received as repayment of the convertible bond. After the latter flagging, the direct holding rose to slightly over 10%, which means the next flagging will occur quite quickly if they are selling shares.
There are various interpretations above regarding HCM’s ownership and also the future. In today’s flaggings, a minimum amount has been reported for how many shares are expected against those convertible bonds. HCM can also convert its holdings into shares at a price of €0.5 whenever it wants; it doesn’t need to wait for the scheduled repayment.
The maximum conversion price for HCM’s first loan tranche was ~€2.94 and now it is €0.5. The final conversion price for those convertible bonds could even be €0.1; currently, the known maximum is €0.5.
They took out the last convertible loan from there, a small portion of which apparently remains undrawn. The loan is being repaid with shares and cash.
I came across this, Bono speaking/pitching with a representative from City of Hope on the topic: CLEVER approach: Solving for unmet patient need in HR-MDS | Petri Bono, Brian Ball
The investor calendar seems to have been updated.
Edit, @Kulkuri it looks like this to me, so EHA is waiting there:
Good question, what exactly happens on 2026-06-11 - 2026-06-14 when the line after it is empty. Typo or a hint?
Edit: it could be EHA 2026 then! Maybe the presentation format is still open there?
Check Faron.com:
HCM’s new notification of major holdings
Dated 20.4 - I’m not going to struggle with copying it.
So between 15.4. and 17.4., HCM sold approx. 270,000 shares. That stake is certainly decreasing slowly, especially at the trading volume levels seen today and yesterday.
Last week, HCM received over 3.5 million shares as repayment for a convertible bond at a price of €0.4516, and in addition, roughly 17 million shares came from the issue at a price of under €0.4, taking the underwriting fee into account.
The share price performance looks quite challenging in the short term, as HCM now appears to have moved to the sell side.
In HCM’s case, it was a flagging notification on April 17th for dropping below 10%. Had they sold 4,453 fewer shares, they would have remained above the 10% threshold.
On April 17th, over 1.2 million shares were traded at an average price of 0.5003 during an intraday rise, with a close of 0.505 and a daily high of 0.515 EUR.
HCM’s reduction was -268,915 shares, so they actually sold very little, and potentially their entire reduction was above 0.50.
If not HCM, then one of the guarantors sold after that, taking the price even below 0.48, but they aren’t all panicking and hitting the bid levels simultaneously.
