Idorsia publishes a Financial Status required for an upcoming bondholder meeting

Ad hoc announcement pursuant to Art. 53 LR

• Unaudited Financial Status as of March 31, 2024, required for an upcoming bondholder meeting, now available on the company website
• Bondholder meeting now planned for early May as the company continues to engage with bondholders

Allschwil, Switzerland – April 17, 2024
Idorsia Ltd (SIX: IDIA) today announced that its Unaudited Financial Status as of March 31, 2024, required for an upcoming bondholder meeting is available on the company website at the following link: http://www.idorsia.com/investors/financial-information

Idorsia continues to engage with bondholders on options and terms regarding the repayment of the convertible bond maturing on July 17, 2024 (ISIN: CH0426820350). As a result, the bondholder meeting initially contemplated for April 30, 2024, is expected to take place shortly thereafter.

André C. Muller, Chief Financial Officer, commented:
“We have had many interactions with our bondholders in the past week. We are finalizing our proposed amendment to the terms and conditions of the bond, taking into account the bondholder needs as well as our objective to avoid unnecessary dilution. We expect to publish the invitation to the bondholders meeting in the next few days.”

Notes to the editor

About Idorsia
Idorsia Ltd is reaching out for more – We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.

Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is specialized in the discovery, development and commercialization of small molecules to transform the horizon of therapeutic options. Idorsia has a 25-year heritage of drug discovery, a broad portfolio of innovative drugs in the pipeline, an experienced team of professionals covering all disciplines from bench to bedside, and commercial operations in Europe and North America – the ideal constellation for bringing innovative medicines to patients.

Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 750 highly qualified specialists dedicated to realizing our ambitious targets.

For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com
media.relations@idorsia.com
www.idorsia.com

The above information contains certain “forward-looking statements”, relating to the company’s business, which can be identified by the use of forward-looking terminology such as “estimates”, “believes”, “expects”, “may”, “are expected to”, “will”, “will continue”, “should”, “would be”, “seeks”, “pending” or “anticipates” or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company’s investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company’s existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.

Attachment

• Press Release PDF