(Alliance News) - Tiziana Life Sciences PLC on Monday proposed a stock offering on the Nasdaq Global Market to secure development funds for its Foralumab antibody to treat immune diseases.
Tiziana's American Depositary Shares are worth five of its ordinary shares.
The company added: "There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The price for the offering has not yet been determined."
The company's shares were untraded in London on Monday afternoon, last quoted at 39.00 pence each.
"Tiziana intends to use the net proceeds from the proposed offering to advance the clinical development of Foralumab, and its other research and development programs, working capital and other general corporate purposes," Tiziana explained.
By Eric Cunha; ericcunha@alliancenews.com
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