LONDON (Alliance News) - Allergy Therapeutics PLC said Thursday that it will raise up to GBP10.6 million via placing and subscription.
The pharmaceutical company focused on allergy vaccines will issue up to 40 million shares, representing 6.7% of its share capital in the fundraising.
The shares will be issued at 26.5 pence each. Allergy Therapeutics shares were trading down 2.5% at 27.05p each.
The company said it will use the capital raised to fund the expansion of some trials and continue to progress its pipeline.
Panmure Gordon Ltd is acting as financial adviser, nominated adviser and corporate broker in respect of the placing which is conducted as an accelerated bookbuild.
Admission to trading of the new shares is expected on July 25.
Allergy Thera. (AGY)