l Repurchasing up to one percent of total issued shares to reinforce shareholder value by June 10
l HanAll is confident in the future growth potential and will continue to enhance the investment in R&D while returning value to the shareholders
HanAll Biopharma (KRX: 009420.KS) today announced its plans to undertake a share buyback of 10 billion Korean won to enhance shareholder value. The program intends to repurchase total 543,479 shares starting from March 11 to June 10.
“The decision to launch share buyback program reflects our confidence in future growth along with the success of leading pipeline candidates” said Sean Jeong, M.D., MBA, CEO of HanAll Biopharma. “We will continue to enhance our R&D investment to make meaningful contributions to patients’ lives, alongside our capital allocation to return benefit to our shareholders” he added.
HanAll Biopharma is confident with the future growth potential based on its leading pipeline assets. Last year, HanAll Biopharma delivered solid operational performance with two-digit growth through increased milestone revenues and sales growth in major products.
HanAll Biopharma also announced its plan to consider dividend worth approximately ten percent of its free cash flow (FCF) after 2025, when the pipeline candidates are commercialized.
outlook and related plans; the therapeutic potential of its product candidates; the intended results of its strategy and the company, and its collaboration partners’, advancement of, and anticipated clinical development, data readouts and regulatory milestones and plans, including the timing of planned clinical trials and expected data readouts; the design of future clinical trials and the timing and outcome of regulatory filings and regulatory approvals. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The company’s actual results may differ materially from those predicted by the forward-looking statements as a result of various important factors our expectations regarding its the inherent uncertainties associated with competitive developments, preclinical and clinical trial and product development activities and regulatory approval requirements; our reliance on collaborations with third parties; estimating the commercial potential of our product candidates; our ability to obtain and maintain protection of intellectual property for its technologies and drugs; our limited operating history; and our ability to obtain additional funding for operations and to complete the development and commercialization of its product candidates. A further list and description of these risks, uncertainties and other risks can be found in Korea Stock Exchange (KRX) filings and reports, including in our most recent annual report as well as subsequent filings and reports filed by the company with the KRX. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. We undertake no obligation to publicly update or revise the information in this press release, including any forward-looking statements, except as may be required by Korean law and regulations.