Paris Court of Appeal Upholds AB Science CEO's Acquittal, Reduces Company's Fine

Paris, May 2, 2024 – The Paris Court of Appeal has confirmed the acquittal of Alain Moussy, CEO of AB Science, in a case involving allegations of insider trading. The court also decided to reduce the financial penalty initially imposed on AB Science by 200,000 euros.

Background and Appeal

AB Science, a pharmaceutical company listed on Euronext Paris, and the Chairman of the French market regulator (Autorité des Marchés Financiers - AMF) had appealed a decision made by the AMF Sanctions commission on March 24, 2022. While the commission had acquitted Alain Moussy of insider trading, it had sanctioned AB Science for failing to meet certain communication obligations. These obligations were part of the conditions for deferring the publication of privileged information. Following this decision, both AB Science and the AMF decided to appeal to the Paris Court of Appeal.

Court's Decision

On May 2, 2024, the Paris Court of Appeal upheld the acquittal of Alain Moussy, confirming that there was no insider trading. Additionally, the court reduced the financial penalty against AB Science by 200,000 euros. AB Science had already paid the full amount of the initial penalty imposed by the AMF Sanctions commission, so the French Treasury will now reimburse the company for the reduced amount.

AB Science Overview

Founded in 2001, AB Science is a pharmaceutical company focused on the research, development, and commercialization of protein kinase inhibitors (PKIs). These inhibitors are crucial in managing various signaling pathways within cells, making them key components in targeted treatments. The company’s research targets diseases with significant unmet medical needs, often those that are lethal in the short term or resistant to previous treatments.

AB Science has developed a proprietary portfolio of molecules. Its leading compound, masitinib, is registered for veterinary use and is being developed for human medicine applications in fields such as oncology, neurological diseases, inflammatory conditions, and viral infections. Headquartered in Paris, AB Science is listed on Euronext Paris under the ticker symbol "AB."

Company's Commitment

AB Science continues its commitment to innovation and development in the pharmaceutical industry, aiming to address diseases with high unmet needs. The company’s pipeline reflects this focus, and its efforts in research and development are directed towards bringing new and effective treatments to the market.

The confirmation of Alain Moussy’s acquittal and the reduction of the financial penalty are positive developments for AB Science, allowing the company to continue its work without the shadow of legal uncertainties. As AB Science moves forward, it remains dedicated to its mission of improving patients' lives through innovative medical solutions.

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