21st Oct 2024 18:21
Sareum Holdings PLC - Cambridge, England-based pharmaceutical company focused on developing next-generation kinase inhibitors for autoimmune disease and cancer - Says it has raised a further GBP1.0 million via a subscription for 4.4 million new shares at 22.5 pence each. Investors included the unnamed institution that took part in its October 11 fundraise. Each subscriber will be issued one five-year warrant, exercisable at the subscription price of 22.5p, representing a 17% discount to the closing market price on October 18.
Chair Stephen Parker says: "We are delighted to secure this additional funding which, together with GBP2.4 million funding announced last week, enables us to progress our lead programme, SDC-1801, towards phase 2 readiness and accelerate the preclinical development of SDC-1802. We believe these two novel TYK2/JAK1 programmes have the potential to offer differentiated therapies in a number of autoimmune and cancer conditions where there is significant unmet medical need. The data generated from this funding is expected to add to the data packages already generated for these two programmes, adding to their value to potential license partners."
Current stock price: 25.50 pence, closed 5.6% lower in London on Monday afternoon
12-month change: down 62%
By Emily Parsons, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.