Probiodrug has announced a capital raise of €13.5m from a private placement of 0.68m new shares; we estimate net proceeds of €12.9m. These funds should ensure Probiodrug can move swiftly ahead with future development plans for lead product PQ912 once data from the ongoing Phase IIa SAPHIR trial become available around mid-2016. Furthermore, the improved financial position should ensure Probiodrug can negotiate any deal terms, if a partner is sought, from a position of strength. Our
10 Nov 2015
Private placement to extend cash runway
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Private placement to extend cash runway
Probiodrug has announced a capital raise of €13.5m from a private placement of 0.68m new shares; we estimate net proceeds of €12.9m. These funds should ensure Probiodrug can move swiftly ahead with future development plans for lead product PQ912 once data from the ongoing Phase IIa SAPHIR trial become available around mid-2016. Furthermore, the improved financial position should ensure Probiodrug can negotiate any deal terms, if a partner is sought, from a position of strength. Our