RE: Why are people still buying2 Sep 2020 11:02
From my understanding Avion Pharmaceuticals is funding the p3 trial of Lupuzor so this placing is for other reasons -
rns
The proceeds from the Placing, net of fees and expenses, are expected to be approximately £5.9 million and will be used to progress the Company's therapeutic pipeline including one of its new developments, BioAMP-B, a novel peptide-based drug that offers a potential treatment for many serious and life threatening fungal infections such as aspergillosis (lung infection). Funds will also provide the Company with additional working capital. Taking into account existing cash resources and the expected net proceeds, the Company expects to have sufficient cash resources to fund operations through the end of 2023.
website
BioAMP-B is a novel peptide-based drug that offers a potential improvement on Amphotericin-B (“Amp-B”). Amp-B is one of the few effective treatments for many serious and life threatening fungal infections such as aspergillosis (lung infection). however, the leading AMP-B, ‘Ambisome’ is known to cause serious kidney toxicity in 14-15% of patients. ImmuPharma’s BioAMP-B’s target profile has a superior safety profile to Ambisome. Sales of Ambisome in 2019 were $407 million.
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There you have it company fully funded to 2023 and will use money to develop BioAMP-B. Not a share for the traders but LTH's I think.