LTR Pharma Limited (ASX:LTP) Responds to ASX Queries
ASX Inquiry
LTR Pharma Limited (ASX:LTP) has responded to two inquiries from the ASX regarding its recent cleansing notice and subsequent announcements. The ASX’s letters questioned whether the information disclosed was sufficient for investors to make informed assessments of the company’s financial position and prospects.
Cleansing Notice Details
On 17 December 2024, LTP issued a cleansing notice relating to the allocation of 27,173,914 shares. The ASX queried whether LTP may have possessed “excluded information” at the time of the notice. LTP clarified that the announcement made regarding its access agreement with Men’s Health Downunder was marked incorrectly as price sensitive due to an administrative error. Furthermore, the company stated that this information did not materially impact the valuation of its securities.
Executive Comments
Shelby Coleman, Company Secretary of LTR Pharma, stated, “The Announcement did not have a material effect on the price or value of the Company’s securities. We have undertaken an internal review to ensure that such administrative errors do not recur.”
Future Compliance
LTR Pharma has confirmed compliance with ASX Listing Rules, specifically addressing the concerns regarding information disclosure. It assured that its responses to the ASX were authorized in accordance with its continuous disclosure policies. The company is committed to transparency and adherence to all regulatory requirements going forward.
Conclusion
LTP has emphasized the importance of systematic checks to prevent future discrepancies and maintain investor trust. The company continues to focus on its core mission to improve men’s health through its innovative treatment for erectile dysfunction, SPONTAN®.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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