Pilot Pharmaceutical Biotechnology (00399) issued an announcement. Since the prerequisites contained in the placement agreement were not fully reached or satisfied before April 18, 2024 (that is, the final deadline of the placement agreement), the placement agreement has expired and the placement matters will not proceed. All rights, obligations and liabilities of the contracting party to the placement agreement will cease and end, and the contracting party will not file any claims against the other party, except for any prior breach of the placement agreement before the termination of the placement agreement.
The announcement stated that the expiration of the placement agreement will not have any significant adverse impact on the company's current operations and financial situation.