18th May 2022 19:37
Redx Pharma PLC - Macclesfield, England-based clinical-stage biotechnology company focused on the treatment of cancer and fibrotic disease - Proposes to raise GBP30 million through a placing to institutional investors of shares at a price of 59 pence each.
WG Partners LLP will act as global coordinator, while WG Partners, Panmure Gordon and Stifel Nicolaus Europe act as joint bookrunners.
Proceeds from the placing will go towards funding the progression of its clinical development and research stage programmes to important value inflection points through 2023, including the Porcupine and Porcupine 2 clinical trials, as well as a clinical trial with RXC007.
Current stock price: 59.25 pence
12-month change: down 8.9%
By Dayo Laniyan; [email protected]
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