(Alliance News) - ImmuPharma PLC on Wednesday confirmed it has no intention of raising funds.
The pharma firm was responding to speculation about a "possible fundraising".
"Following the recently announced licensing and development agreement with Avion, the US speciality pharmaceutical company, in which Avion will fund an international Phase III trial for our lead programme, Lupuzor, we note the volatility in the company's share price and speculation concerning a possible fundraising," ImmuPharma said.
At the end of November, Immupharma shares trebled following the announcement of an exclusive licence & development agreement with Avion.
But the company has denied it is considering a capital raise.
Shares in ImmuPharma were 5.7% higher in London on Wednesday at 18.75 pence each. ImmuPharma was trading at 7.05p prior to the Avion announcement.
By Paul McGowan; paulmcgowan@alliancenews.com
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Immupharma (IMM)