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Share Price: 3.30

Bid: 3.20

Ask: 3.40

Change: -0.05 (-1.49%)

Spread: 0.20 (6.25%)

Open: 3.35

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ValiRx Issues Shares In Lieu Of GBP80,000 Milestone Payment (ALLISS)

Tue, 17th Mar 2015 09:27

LONDON (Alliance News) - Biopharmaceutical development company ValiRx PLC on Tuesday said it has issued shares to Cancer Research Technology Ltd in lieu of a milestone payment.

ValiRx has issued 30.8 million shares to the company at 0.26 pence per share in lieu of a GBP80,000 milestone payment ValiRx owes Cancer Research Technology related to the VAL201 compound.

"This milestone payment to CRT in shares is both a vindication of our recent progress and a substantial vote of confidence in ValiRx's future prospects," said ValiRx Chief Executive Satu Vainikka.

Shares in ValiRx were up 2.6% to 0.2 pence on Tuesday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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