The Group has secured funding commitments from both new and existing investors.
Companies: Realm Therapeutics
Realm Therapeutics (LON: RLM) has released its H1 17 interims as well as a Trading Update today announcing it has successfully secured funding commitments to raise £19.3m.
The funds will come from both new and existing customers, including a number of healthcare specialist funds based in the U.S. The Placing is conditional of shareholders approval.
Shares in RLM were up 4% with the announcements today.
Revenue for the Group doubled to £0.6m whilst losses grew to £3.9m compared to £2.7m in H1 16 as the Group continues to invest in its conjunctivitis and dermatitis treatments. It was also noted these have been cleared for Phase II studies.
Commenting on the fundraise, Group CEO Alex Martin said:
"The funds being raised, combined with our current resources, will advance our AD and AC programmes, fund a proof-of-concept study in Acne Vulgaris and allow us to further evaluate other pipeline candidates."
Singers released a brief research note on the Group today. saying:
"Realm following the capital raise is exceptionally well placed to execute its commercial strategy: we reiterate our highly positive stance."
Revenues for the Group have fallen significantly in the five years to 2016, with share prices following suit. Today's share price of 30p is well below the all-time high of 566p.
However, revenue is forecast to reach £31m in 2019 after FY 16's £0.9m.
