Mithra puts herself up for sale, shareprice plummets

The Liège biopharma company announced on Tuesday that it wanted to sell assets.

At Mithra, Christophe Maréchal and Xavier Paoli replace David Solomon as co-CEOs as the company looks at selling off parts such as Estetra SRL or possibly even the entire company.

Mithra announced this on Tuesday morning in a press release on her website.

A new bridging loan has now been taken out that should provide financing until April 30. The new loan provides for an amount of up to 13.5 million euros that can be drawn down in multiple tranches, provided certain milestones are met.

In addition, Mithra still has the prospect of an additional amount of five million euros, which can be used once the 13.5 million has been fully withdrawn, but only with the permission of the lender.

In mid-February, Mithra already reported the sale of its stake in Mayne Pharma for approximately 12.8 million euros.

Mithra plummeted by 35 percent on the Brussels stock exchange on Tuesday morning. Between 9:12 a.m. and 10 a.m., trading in the share was halted via an automatic trading inhibitor, a mechanism that comes into effect in the event of chaotic trading.

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