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IN BRIEF: Redx Pharma Plans USD30 Million Fundraise; Loss Narrows

Tue, 30th Jun 2020 14:47

Redx Pharma PLC - Macclesfield-based cancer treatment firm - Narrows pretax loss to GBP4.0 million in six months to March 31 from GBP4.1 million loss a year ago. Reports revenue of GBP1.2 million, versus none in first six months of prior year. Plans to raise USD30 million through issue of USD29 million convertible loan notes and a GBP812,000 share subscription from investment fund Sofinnova Crossover I SLP.

Current stock price: 22.50 pence

Year-to-date change: up more than double from 8.00p

By Eric Cunha; ericcunha@alliancenews.com

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