More Cannabis Funding For FDA And Product Expansion: How This Pharma Tech Company Is Doing It
Portfolio Pulse from Jelena Martinovic
Innocan Pharma Corporation has closed the second and final tranche of its private placement offering, issuing 4,005,408 units at $0.30 per unit for aggregate gross proceeds of $1,201,622. The company intends to use the net proceeds to fund pre-investigational new drug meetings with the FDA, investigational new animal drug meetings with the FDA, and for the expansion of the company's derma-cosmetic product distribution.
October 23, 2023 | 5:31 pm
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Innocan Pharma's recent private placement offering could provide the necessary funding for FDA meetings and product expansion, potentially leading to future growth.
The successful closure of the private placement offering provides Innocan Pharma with the necessary funds to pursue regulatory meetings with the FDA and expand its product distribution. This could potentially lead to new product approvals and increased sales, positively impacting the company's stock price.
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