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ValiRx Raises GBP1M Through Placing; Shares Fall Toward Placing Price

Fri, 15th Nov 2013 10:28

LONDON (Alliance News) - Pharmaceutical company ValiRx PLC Friday said that it has raised GBP1 million in a placing of 307.7 million shares with institutional and other investors.

The cancer drug developer said that it will use the funds to further advance its development programmes.

The shares were priced at 0.325 pence per share. Following the placing, ValiRx has 2.0 million shares issued.

ValiRx shares were amongst the biggest decliners Friday morning, down 18% at 0.352 pence per share.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty

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