(Alliance News) - Pharmaceutical firm Diurnal Group PLC's shareholders on Friday approved its GBP5.9 million fundraise completed earlier in the day.
Diurnal, which focuses on patients with chronic endocrine, or hormonal, diseases, early Friday said it received acceptances for 58% of shares in an open offer.
The open offer was carried out at 26 pence a share, and 2.2 million shares gave acceptances, meaning the offer raised GBP579,690. It had been carried out alongside a placing worth GBP5.5 million.
Shares were down 5.2% on Friday afternoon in London at a price of 27.50 pence each.
The funds raised from the placing and open offer will be used to develop and commercialise Diurnal's products, it said late May, at the time of the original fundraise announcement.