Just a thought/reminder: RNS Sept 202030 Nov 2021 21:17
ImmuPharma raises £6.5m through discounted equity placing
2 September 2020 | 09:14am
StockMarketWire.com - Drug discovery and development company ImmuPharma said it had raised £6.5m through the placing of shares at a discount.
The company reported an oversubscribed placing of 59,090,909 new shares at a price of 11p, representing a 27.6% discount to the 7-day volume weighted average price of its shares on 1 September 2020.
The proceeds from the placing were expected to be approximately £5.9m and would be used to progress the company's therapeutic pipeline including one of its new developments, BioAMP-B, a peptide-based drug that offers a potential treatment for many serious and life threatening fungal infections such as aspergillosis (lung infection).
Taking into account existing cash resources and the expected net proceeds, the company said it expected to have sufficient cash resources to fund operations through the end of 2023.