LONDON (Alliance News) - Tiziana Life Sciences PLC said Thursday it has raised GBP825,000 from the issue of 1.0 million new shares at a price of 80 pence per share.
The cancer and autoimmune drug developer said it also issued 51,563 new shares and accompanying warrants exercisable at a price of 80p to intermediaries instead of commissions on the funds raised.
Shares in Tiziana were trading at 80p each Thursday, down 2.4%.
The company has undertaken a number of smaller fund raises over past year to, it said, provide it with working capital. Tiziana relies on outside funding as it is not currently making any revenue.
Admission of the new shares is expected to occur on or around April 23. Following the issue of shares the issued share capital of the company will comprise 126.9 million shares.