Forward Pharma

Forward Pharma A/S is a biopharmaceutical company, which engages in the research and development of medicinal treatment for inflammatory and neurological indications. It focuses on the immunomodulatory compound dimethyl fumarate and its derivatives. The company was founded by Florian Schönharting on July 2005 and is headquartered in Copenhagen, Denmark.

Forward Pharma is a privately held biotechnology company focused on the immunomodulatory compound dimethyl fumarate and derivatives, for applications as a pharmaceutical drug product to treat immune disorders such as multiple sclerosis and psoriasis. Forward Pharma A/S was founded in 2005 and is headquartered in Copenhagen, Denmark, in the heart of Medicon Valley. Since 2007 we have also operated out of a subsidiary, Forward Pharma GmbH, in Leipzig, Germany, and since August 2014 out of a subsidiary in the United States, Forward Pharma USA, LLC.

COPENHAGEN, Denmark, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (“we” or “Forward”), today announced that that on December 16, 2022 it received written notice from The Nasdaq Stock Market LLC (“Nasdaq”) notifying us that Nasdaq believes that Forward is a "public shell" pursuant to Listing Rule 5101, and that the continued listing of its securities is no longer warranted. We will not appeal this determination. Therefore, we expect the trading of our American Depositary Shares on The Nasdaq Capital Market to be suspended at the opening of business on December 28, 2022, and that Nasdaq will file a Form 25-NSE with the U.S. Securities and Exchange Commission (the “SEC”), which will remove Forward's securities from listing and registration on The Nasdaq Stock Market. Additionally, we intend to file with the SEC a Form 15 requesting the suspension of Forward's reporting obligations.

Forward Pharma Announces Expected Delisting of its American Depositary Shares from the Nasdaq Capital Market

COPENHAGEN, Denmark, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (“Forward” or the “Company”), today announced that the Enlarged Board of Appeal (the “EBA”) of the European Patent Office (the “EPO”) has denied Forward's petition for review (the “Petition”) of the decision of the Technical Board of Appeal of the EPO that confirmed the revocation of the EP2801355 patent by the EPO Opposition Division in the opposition proceeding (“Opposition Proceeding”). The EBA's rejection of the Petition ends the Opposition Proceeding in favor of the opponents and represents an unsuccessful outcome of the Opposition Proceeding, resulting in no royalties being due to the Company from Biogen based on Biogen's future net sales of Tecfidera® or other DMF products for multiple sclerosis outside the United States, as defined in the Settlement and License Agreement by and among Forward, subsidiaries of Biogen Inc. and certain other parties thereto. As previously disclosed, because the Company was also unsuccessful in the U.S. Interference Proceeding after all appeals, the Company will not be entitled to future royalties from the United States.

Forward Pharma Announces the Decision of the Enlarged Board of Appeal of the European Patent Office in the EP2801355 Petition for Review

COPENHAGEN, Denmark, April 08, 2022 (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (“we,” “Forward” or the “Company” and, together with its subsidiaries, the “Group”), today reported consolidated financial results for the year ended December 31, 2021. Our net loss for the year ended December 31, 2021 was $1.9 million, or $0.02 per share, versus a net loss of $6.4 million, or $0.07 per share, for the year ended December 31, 2020. Our research, development, general and administrative costs increased from $3.4 million for the year ended December 31, 2020 to $3.9 million for the year ended December 31, 2021. Our net loss for the year ended December 31, 2021 was favorably impacted by a non-cash foreign exchange gain of $2.2 million that is primarily related to our U.S. Dollar cash holdings and the strengthening of the U.S. Dollar compared to the Danish Kroner.

Forward Pharma Reports Financial and Operating Results for the Year Ended December 31, 2021

The stock price of Forward Pharma A/S (NASDAQ: FWP) fell by almost 20% during the premarket.  Investors are responding negatively to the Technical Board of Appeal (TBA) of the European Patent Office (EPO), dismissing Forward's appeal to revoke the EP2801355 patent (355 patent) following the oral hearing.

Why is Forward Pharma Stock Plunging During Premarket Tuesday?

The stock price of Forward Pharma A/S (NASDAQ:FWP) fell by over 20% pre-market. This is why it happened.

FWP Stock: Over 20% Decrease Pre-Market Explanation

COPENHAGEN, Denmark, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (“we,” “Forward” or the “Company”), today announced that the Technical Board of Appeal (the “TBA”) of the European Patent Office (the “EPO”) has dismissed Forward's appeal of the previous decision of the EPO Opposition Division to revoke the EP2801355 patent (the “'355 patent”) following the oral hearing.

Forward Pharma Announces the Decision of the Technical Board of Appeal of the European Patent Office in the EP2801355 Appeal Hearing

COPENHAGEN, Denmark, April 14, 2021 (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (“We,” “Forward” or the “Company” and, together with its subsidiaries, the “Group”), today reported consolidated financial results for the year ended December 31, 2020. Our net loss for the year ended December 31, 2020 was $6.4 million, or $0.07 per share, versus a net loss of $4.2 million, or $0.04 per share for the year ended December 31, 2019. Our research and development and general and administrative costs decreased from $5.3 million for the year ended December 31, 2019 to $3.4 million for the year ended December 31, 2020. Our net loss for the year ended December 31, 2020 was unfavorably impacted by a significant non-cash foreign exchange loss of $3.0 million that is primarily related to our U.S. Dollar cash holdings and the weakening of the U.S. Dollar compared to the Danish Kroner. “We continue to be well positioned financially as we enter into 2021 with cash holdings of $79.1 million and working capital of $78.6 million. We believe we have the financial strength to fund operations beyond 2021 and focus on the oral proceedings before the Technical Board of Appeals that are scheduled for September 6, 2021 after two postponements caused by the ongoing coronavirus pandemic,” said Dr. Claus Bo Svendsen, Chief Executive Officer of Forward.

Forward Pharma Reports Financial and Operational Results from the Year Ended December 31, 2020

COPENHAGEN, Denmark, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (“we,” “Forward” or the “Company”), today announced that due to ongoing precautionary measures against the spread of the novel coronavirus (“COVID-19”), the Technical Board of Appeal (the “TBA”) of the European Patent Office (the “EPO”) again has rescheduled the oral hearing of the appeal against the decision of the Opposition Division that revoked the EP2801355 patent (the “'355 Patent”). The new hearing date is set for September 6, 2021.

Forward Pharma Announces Rescheduling of the EP2801355 Appeal Hearing to September 6, 2021 due to COVID-19 Restrictions

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Forward Pharma: Heads You Win Big, Tails You Still Win

COPENHAGEN, Denmark, Sept.  05, 2019  (GLOBE NEWSWIRE) -- Forward Pharma A/S (NASDAQ:FWP) (the “Company”) today announced that Chief Executive Officer, Dr. Claus Bo Svendsen, will participate in the Fall Investor Summit investor conference (https://www.microcapconf.com) in New York, NY. Dr. Svendsen will present a corporate update on Tuesday, September 17, 2019 at 8:00 AM ET and will be available for one-on-one meetings. 

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