Neuren Pharmaceuticals announces on-market share buyback
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The news: Neuren Pharmaceuticals has announced an on-market share buyback program of up to 5% of its shares on issue, to be carried out over a 12 month period.
The context: Neuren said in an ASX filing on Wednesday afternoon that the current share price materially undervalues Neuren’s assets,
The company said the buyback will occur at Neuren’s discretion and will not proceed during any designated blackout periods, including its FY results blackout from 1 January until 27 February 2026.
The number of shares purchased under the program and average price will be notified to the ASX on the following business day.
The number of shares purchased under the buyback will be less than the 10/12 limit set out in the Australian Corporations Act and will not require shareholder approval.
What they said: Neuren chair Patrick Davies said: “Neuren has a very strong cash position, supported by growing cash flows from the DAYBUE franchise. Neuren’s NNZ-2591 development programs for Phelan-McDermaid syndrome, Pitt Hopkins syndrome and HIE all are, and will remain, well funded alongside the buyback.”
The source: ASX
