Neurosearch writes down the value of Huntexil to 0
The Danish biotech company Neurosearch has written down the value of its primary candidate drug Huntexil to 0, and the board cannot guarantee any further development of the drug. It results in a huge operating deficit for the company.
“As Neurosearch still has not found a partner or a buyer for Huntexil, or seen adequate initial interest from investors to carry out a capital expansion, the board cannot guarantee the financing of the continued development of Huntexil and thus the realization of the values associated with the project, so the accounting value has been written down to 0.”
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