Biodexa Announces $7M Of Gross Proceeds From Warrant Exercises And An Agreement Between The Company And Several Accredited Investors To Exercise Certain Existing Series E Warrants And Series F Warrants To Purchase Up To An Aggregate Of 4,358,322 ADSs
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Biodexa Pharmaceuticals PLC (NASDAQ: BDRX) announced $7 million in gross proceeds from the exercise of existing Series E and Series F warrants. The funds will cover the first year of the eRapa Phase 3 obligations and unlock additional non-dilutive grant funding.
May 22, 2024 | 12:33 pm
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Biodexa Pharmaceuticals secured $7 million from warrant exercises, which will cover the first year of eRapa Phase 3 obligations and unlock additional non-dilutive grant funding.
The $7 million in proceeds will provide financial stability for the company, covering critical Phase 3 obligations and unlocking additional grant funding. This is likely to be viewed positively by investors, potentially driving the stock price up in the short term.
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