C4X Discovery Holdings PLC - Manchester-based drug company - Raises GBP15.0 million through placing of 99.2 million units - comprising one share and one warrant - and 8.0 million EIS/VCT shares, at a price of 14.0 pence each.
Proceeds will go towards strengthening balance sheet, and provide working capital for the progression of its pipeline portfolio.
Now has 226.3 million shares issued overall.
"The funds raised today will allow C4XD to continue advancing our goal - to use our cutting-edge drug discovery technologies and expertise to efficiently deliver world leading medicines which are developed by our partners for the benefits of patients. We are delighted to welcome our new investors as shareholders and would like to thank our existing shareholders for their continued support," says Chief Executive Officer Clive Dix.
Current stock price: 15.01 pence, giving GBP17.9 million market capitalisation
Year-to-date change: down 7.6%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.