AB Science – Clarification following the February 11, 2022 public hearing of the Enforcement Committee of the French Market Regulator (AMF)
PRESS RELEASE
CLARIFICATION FOLLOWING THE FEBRUARY 11, 2022 PUBLIC HEARING OF THE ENFORCEMENT COMMITTEE OF THE FRENCH MARKET REGULATOR (AMF)
Paris, 12 February, 2022, 8.30pm CET
AB Science SA (Euronext – FR0010557264 – AB) wishes to provide the following clarifications, following press articles published after the public hearing of the Enforcement Committee of the French market regulator (AMF) on Friday, February 11, 2022.
As indicated in the Company’s annual report, the AMF opened in September 2017 an investigation relating to the financial information and the market for AB Science shares. Following this investigation, AB Science and its CEO Alain Moussy received a statement of objections in the first quarter of 2021.
Following this statement of objections, and as required by the procedure, a Rapporteur was then appointed by the Enforcement Committee. The Rapporteur drew up an independent report on the investigation, both incriminating and exculpatory.
The AMF Enforcement Committee met on February 11, 2022 to hear the position of its Rapporteur, the opinion of the AMF’s investigating team, and the parties.
The AMF investigating team upheld the complaints against (i) AB Science for not having communicated to the market in a timely manner what it considered to be privileged information relating to the marketing authorization procedure for masitinib in mastocytosis as of March 7, 2017, and (ii) Alain Moussy for having used such privileged information to sell part of his shares, and requested financial penalties.
AB Science and Alain Moussy have firmly and specifically contested these allegations.
The Rapporteur of the Enforcement Committee, on the basis of her report, considered that such privileged information did not exist at the time of the fundraising carried out by AB Science on March 24 and 27, 2017 and of the sale by Alain Moussy on March 31, 2017.
The decision of the Enforcement Committee is expected in four to six weeks.
AB Science remains confident in the arguments it submitted to the Enforcement Committee and awaits the Committee’s decision.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and commercialization of protein kinase inhibitors (PKIs), a class of targeted proteins whose action are key in signaling pathways within cells. Our programs target only diseases with high unmet medical needs, often lethal with short term survival or rare or refractory to previous line of treatment.
AB Science has developed a proprietary portfolio of molecules and the Company’s lead compound, masitinib, has already been registered for veterinary medicine and is developed in human medicine in oncology, neurological diseases, inflammatory diseases and viral diseases. The company is headquartered in Paris, France, and listed on Euronext Paris (ticker: AB).
Further information is available on AB Science’s website:
www.ab-science.com.
Forward-looking Statements – AB Science
This press release contains forward-looking statements. These statements are not historical facts. These statements include projections and estimates as well as the assumptions on which they are based, statements based on projects, objectives, intentions and expectations regarding financial results, events, operations, future services, product development and their potential or future performance.
These forward-looking statements can often be identified by the words “expect”, “anticipate”, “believe”, “intend”, “estimate” or “plan” as well as other similar terms. While AB Science believes these forward-looking statements are reasonable, investors are cautioned that these forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict and generally beyond the control of AB Science and which may imply that results and actual events significantly differ from those expressed, induced or anticipated in the forward-looking information and statements. These risks and uncertainties include the uncertainties related to product development of the Company which may not be successful or to the marketing authorizations granted by competent authorities or, more generally, any factors that may affect marketing capacity of the products developed by AB Science, as well as those developed or identified in the public documents published by AB Science. AB Science disclaims any obligation or undertaking to update the forward-looking information and statements, subject to the applicable regulations, in particular articles 223-1 et seq. of the AMF General Regulations.
For additional information, please contact:
AB Science
Financial Communication & Media Relations
investors@ab-science.com
Media Relations – USA
RooneyPartners
Kate Barrette
kbarrette@rooneypartners.com
+1 212 223 0561
Media Relations – France
NewCap
Arthur Rouillé
arouille@newcap.fr
+33 (0)1 44 71 00 15
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