3rd Jun 2021 13:48
Arecor Therapeutics PLC - Saffron Walden, England-based biopharmaceutical - Raises GBP20.0 million gross in initial public offering on AIM in London. Panmure Gordon places 8.8 million Arecor shares at 226 pence, giving the company a GBP62.5 million market capitalisation on admission. Arecor aims to improve patient care by enhancing existing therapeutic products. Its current focus of internal proprietary product development can be divided into two product classes: diabetes and specialty hospital care. "The group's strategy is to develop an internal portfolio of enhanced proprietary products to a defined value inflexion point prior to partnering with major pharmaceutical and biotechnology companies under a revenue-generating licence model with the potential for the group to receive royalties and significant milestone payments," it said last week in announcing its listing plans.
Current stock price: 244p, up 8.0% from IPO price
By Tom Waite; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Arecor Therape