21st Dec 2022 11:06
(Alliance News) - SkinBioTherapeutics PLC on Wednesday said it raised GBP2.6 million in total through its share placing and retail offer.
The skin health-focused life sciences company said 15.6 million shares will be issued through the placing and 733,618 shares for the retail offer. In total,16.4 million new shares will be issued, raising GBP2.6 million.
The share offer, first announced on Thursday last week, was priced at 16 pence each.
Shares in SkinBioTherapeutics were down 2.2% to 15.65p each in London on Wednesday morning. It currently has a market capitalisation of GBP24.5 million.
Following admission of the new shares, 173.1 million shares will be in issue.
SkinBioTherapeutics also on Thursday last week reported its results for the financial year that ended June 30. Its pretax loss widened to GBP2.7 million from GBP1.5 million. Revenue remained insubstantial at GBP74,761, versus none the year before.
"SkinBioTherapeutics has a small team which has achieved a significant amount in 12 months," Chief Executive Officer Stuart Ashman said. "Development continues apace in the post year period and another busy, exciting year is anticipated in 2023."
By Sophie Rose, Alliance News reporter
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