23rd Mar 2021 14:35
Incanthera PLC - oncology firm focused on skin cancer - Raises GBP1.1 million in placing of 9.5 million shares at 12 pence each, a 6.6% discount to Incanthera's closing price on Aquis Stock Exchange in London on Monday of 12.85p. The placing shares represent 13% of the enlarged share capital. Each placing share comes with one warrant to subscribe for a share at 20p for up to two years. Stanford Capital Partners Ltd was lead broker. It was joint placing agent with SI Capital Ltd.
Incanthera, which floated on AQSE in February last year, will use the funds to commercialise its lead asset, Sol, a topical formulation designed to treat solar keratosis and prevent the formation of skin cancers. It says the funds will give it a cash runway into the second half of 2022 while it pursues a commercial deal for Sol.
By Tom Waite; [email protected]
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