Last trading day for Abliva – the company leaves Nasdaq Stockholm
Today marks the end of an era for Abliva on Nasdaq Stockholm. Based on an application from the company’s board, the stock is being delisted, and today, March 17, 2025, is the final trading day for the company’s shares. This is a natural consequence of the takeover bid presented by Pharming Technologies late last year and the subsequent process that has led to Pharming taking full control over the company.
Abliva has long focused on developing treatments for mitochondrial diseases. Its most advanced candidate, KL1333, is currently in phase II development in the potentially registration-enabling FALCON study. The drug candidate targets patients suffering from severe fatigue and muscle weakness, conditions that profoundly impact their quality of life.
Pharming’s takeover bid
In December 2024, Pharming Technologies, a wholly owned subsidiary of Pharming Group, made a cash offer of 0.45 SEK per share for Abliva’s stock, valuing the company at 725 million SEK. The premium amounted to 227 per cent compared to the stock’s closing price on December 13.
Full control of Abliva’s shares
Over the following months, Pharming’s ownership stake in Abliva steadily increased. By February 10, 2025, the company controlled 87.7 per cent of the shares, and an extended acceptance period gave minority shareholders additional time to decide. Despite the board’s recommendation to accept the offer, some chose to hold off, likely in the hope of a better deal.
Pharming, however, was determined to complete the transaction. After further acquisitions, the company had reached an ownership stake of 92.7 per cent by early March – a level that enabled it to enforce a compulsory buyout of the remaining shares. At the same time, the company applied for delisting from Nasdaq Stockholm, which will happen today, March 17, 2025.
What happens now?
With today’s trading halt, Abliva takes a formal step away from the stock exchange. For those shareholders who have not yet sold their holdings, the compulsory buyout process will be finalised, and they will receive compensation in line with Pharming’s offer.
Beyond the financial transactions, a new horizon awaits Abliva. As part of Pharming Group, the company now gains the opportunity to further develop its drug candidates without the financial and regulatory demands of a publicly listed environment. It becomes part of a larger, financially stronger group, with new possibilities to scale up research and reach the market more quickly by combining its own expertise in mitochondrial diseases with Pharming’s global resources. Regardless of the end of its stock exchange listing, this marks the beginning of a new development journey for Abliva in its pursuit to improve the lives of patients suffering from severe energy metabolic disorders.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
