Nuformix PLC - London-based developer of treatments for fibrosis and oncology via drug repurposing - Announce intention to raise gross proceeds of GBP150,000 through a subscription for 75.0 million new shares at a price of 0.20 pence each. The shares will represent 9.2% of Nuformix's enlarged issued share capital. Company will use the subscription's net proceeds primarily to further advance its NXP002 programme for the inhaled treatment of idiopathic pulmonary fibrosis.
Executive Director Dan Gooding says: "The funds raised through the subscription will support the company as we focus on discussions with potential licensees and the overall progression of the NXP002 programme to improve the treatment of IPF via inhalation. I look forward to providing further updates in due course."
Current stock price: 0.20 pence, down 25% in London on Friday
12-month change: down 43%
By Holly Beveridge, Alliance News reporter
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Nuformix (NFX)