Molecular Partners Announces all Board Proposals Approved at Annual General Meeting

Rhea-AI Summary

Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN) held its Annual General Meeting where shareholders approved all Board proposals by a wide majority. The company, which develops DARPin therapeutics, reported a significant net loss of CHF 50.6 million for 2024, increasing the total loss carried forward to CHF 199.4 million.

Shareholders approved the annual review, financial statements, and compensation report. All Board members were re-elected for one-year terms, with William Burns re-elected as Chairman and reappointed as chair of the Nomination and Compensation Committee. KPMG AG Zurich was re-elected as statutory auditors for 2025, and Anwaltskanzlei Keller AG was chosen as independent proxy until 2026.

Positive

• All board proposals approved by shareholders with wide majority
• Corporate governance continuity maintained with re-election of all board members

Negative

• Significant net loss of CHF 50.6 million in 2024
• Accumulated losses increased to CHF 199.4 million

ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., April 16, 2025 (GLOBE NEWSWIRE) -- Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin therapeutics (“Molecular Partners” or the “Company”), today announced that all motions proposed by the Board of Directors at the Annual General meeting were approved by the shareholders of the Company by a wide majority.

The Molecular Partners shareholders confirmed the approval of the annual review, the IFRS consolidated financial statements and the annual statements for the financial year 2024. They also approved the consultative vote on the compensation report and the proposal to carry forward, and not to offset, the net loss for 2024 of CHF 50,643,414, thereby bringing the loss carried forward position from CHF 148,796,743 to CHF 199,440,147.

The Board of Directors and the members of the Management Board were granted discharge for the financial year 2024. The shareholders voted to re-elect all members of Molecular Partners’ Board of Directors for a term of office of one year. William “Bill” Burns was re-elected Chairman of the Board and re-appointed as the chairperson of the Board’s Nomination and Compensation Committee. Steven Holtzman and Michael Vasconcelles, M.D., were also re-elected to the Nomination and Compensation Committee.

KPMG AG Zurich was re-elected as the Group’s statutory auditors for the financial year 2025 and Anwaltskanzlei Keller AG, Zurich, was elected as the independent proxy for a term of office until the 2026 Annual General Meeting.

The Annual General Meeting also approved all binding motions regarding compensation for both the Board of Directors and the Management Board.

About Molecular Partners AG 
Molecular Partners AG (SIX: MOLN, NASDAQ: MOLN) is a clinical-stage biotech company pioneering the design and development of DARPin therapeutics for medical challenges other drug modalities cannot readily address. The Company has programs in various stages of pre-clinical and clinical development, with oncology as its main focus. Molecular Partners leverages the advantages of DARPins to provide unique solutions to patients through its proprietary programs as well as through partnerships with leading pharmaceutical companies. Molecular Partners was founded in 2004 and has offices in both Zurich, Switzerland and Concord, MA, USA. For more information, visit www.molecularpartners.com and find us on LinkedIn and Twitter / X @MolecularPrtnrs

For further details, please contact:
Seth Lewis, SVP Investor Relations & Strategy
Concord, Massachusetts, U.S.
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361

Laura Jeanbart, PhD, Head of Portfolio Management & Communications
Zurich-Schlieren, Switzerland
laura.jeanbart@molecularpartners.com
Tel: +41 44 575 19 35

Cautionary Note Regarding Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including without limitation: implied and express statements regarding the clinical development of Molecular Partners’ current or future product candidates; expectations regarding timing for reporting data from ongoing clinical trials or the initiation of future clinical trials; the potential therapeutic and clinical benefits of Molecular Partners’ product candidates and its RDT and Switch-DARPin platforms; the selection and development of future programs; Molecular Partners’ collaboration with Orano Med including the benefits and results that may be achieved through the collaboration; and Molecular Partners’ expected business and financial outlook, including anticipated expenses and cash utilization for 2025 and its expectation of its current cash runway and the expected use of proceeds from the October 2024 offering. These statements may be identified by words such as “aim”, "anticipate”, “expect”, “guidance”, “intend”, “outlook”, “plan”, “potential”, “will” and similar expressions, and are based on Molecular Partners’ current beliefs and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Some of the key factors that could cause actual results to differ from Molecular Partners’ expectations include its plans to develop and potentially commercialize its product candidates; Molecular Partners’ reliance on third party partners and collaborators over which it may not always have full control; Molecular Partners’ ongoing and planned clinical trials and preclinical studies for its product candidates, including the timing of such trials and studies; the risk that the results of preclinical studies and clinical trials may not be predictive of future results in connection with future clinical trials; the timing of and Molecular Partners’ ability to obtain and maintain regulatory approvals for its product candidates; the extent of clinical trials potentially required for Molecular Partners’ product candidates; the clinical utility and ability to achieve market acceptance of Molecular Partners’ product candidates; the potential that Molecular Partners’ product candidates may exhibit serious adverse, undesirable or unacceptable side effects; the impact of any health pandemic, macroeconomic factors and other global events on Molecular Partners’ preclinical studies, clinical trials or operations, or the operations of third parties on which it relies; Molecular Partners’ plans and development of any new indications for its product candidates; Molecular Partners’ commercialization, marketing and manufacturing capabilities and strategy; Molecular Partners’ intellectual property position; Molecular Partners’ ability to identify and in-license additional product candidates; unanticipated factors in addition to the foregoing that may cause Molecular Partners’ actual results to differ from its financial and business projections and guidance; and other risks and uncertainties set forth in Molecular Partners’ Annual Report on Form 20-F for the year ended December 31, 2024 and other filings Molecular Partners makes with the SEC from time to time. These documents are available on the Investors page of Molecular Partners’ website at www.molecularpartners.com. In addition, this press release contains information relating to interim data as of the relevant data cutoff date, results of which may differ from topline results that may be obtained in the future. Any forward-looking statements speak only as of the date of this press release and are based on information available to Molecular Partners as of the date of this release, and Molecular Partners assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.

FAQ

What was Molecular Partners' (MOLN) net loss for 2024?

Molecular Partners reported a net loss of CHF 50.6 million for the financial year 2024.

What is the total accumulated loss carried forward for MOLN as of 2024?

The total loss carried forward position increased to CHF 199.4 million from CHF 148.8 million.

Who was re-elected as Chairman of Molecular Partners' Board in 2024?

William 'Bill' Burns was re-elected as Chairman of the Board and chairperson of the Nomination and Compensation Committee.

Which firm will serve as MOLN's statutory auditors for 2025?

KPMG AG Zurich was re-elected as the Group's statutory auditors for the financial year 2025.