Evgen Pharma has raised £5.0m by way of an oversubscribed placing of 33.3m shares at 15p, a 7% discount to the prevailing share price. The funds will be used to strengthen the balance sheet for partnering discussions as well as enabling additional formulation and toxicology work for SFX-01 to be completed. This follows positive Phase II data from an open label study released on 25 March. These funds, together with existing cash, should provide a cash runway to mid-2021, which is beyond
18 Apr 2019
Evgen Pharma - £5m placing
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Evgen Pharma - £5m placing
Evgen Pharma Plc (EVG:LON) | 0.9 0 0.0% | Mkt Cap: 2.41m
- Published:
18 Apr 2019 -
Author:
Mark Brewer -
Pages:
10
Evgen Pharma has raised £5.0m by way of an oversubscribed placing of 33.3m shares at 15p, a 7% discount to the prevailing share price. The funds will be used to strengthen the balance sheet for partnering discussions as well as enabling additional formulation and toxicology work for SFX-01 to be completed. This follows positive Phase II data from an open label study released on 25 March. These funds, together with existing cash, should provide a cash runway to mid-2021, which is beyond