IN BRIEF: Malin Corp writes off investee after US FDA drug rejection

Malin Corp PLC - Dublin-based investor in life sciences companies - Malin will write off the entire value of its investment in Viamet Pharmaceuticals Inc, after the US Food & Drug Administration declined to approve a supplemental new drug application to broad the indication for anti-fungal drug Vivjoa. Mycovia Pharmaceuticals Inc, which had bought Vivjoa from Viamet, received a complete response from the FDA, saying the regulator won't approve the sNDA in its present form. Malin and its partners are studying their options, Malin says, but it expects to write off the carrying value of Viamet in its accounts for the second half of 2026, cutting Malin's asset value per share by nearly a third.

Viamet was carried at a value of EUR11.3 million as of August 24, two days before Malin released its first half results. At the time, Malin reported an estimated intrinsic equity value per share of EUR8.28. This will be reduced by nearly 30% to EUR5.84.

Current stock price: EUR6.80, down 1.4% in Dublin on Friday

12-month change: down 18%

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