GNW-Adhoc: 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 (mailto:investor.relations@idorsia.com)
media.relations@idorsia.com (mailto:media.relations@idorsia.com)
www.idorsia.com (http://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.
°