N4 Pharma PLC - UK-based pharmaceutical company developing Nuvec for cancer treatments and vaccines - Announces it has raised GBP2 million through a placing of 25 million shares of 0.4 pence each, at an issue price of 8 pence per placing share.The "significantly oversubscribed" placing was undertaken by SP Angel Corporate Finance LLP.
N4 Pharma said the net proceeds of the placing will be used for current stability work covering DNA and mRNA formulations, research on an additional asset to add to the company portfolio, business development driven by study results over next six months and ongoing working capital.
Current stock price: 8.80 pence
Year-to-date change: up sharply from 2.75p
By Zoe Wickens; zoewickens@alliancenews.com
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N4 Pharma Plc (N4P)