Biodexa Pharmaceuticals Announces Pricing Of $5M Registered Direct Offering To Sell An Aggregate Of 5,050,808 ADSs, And 278,975 Pre-Funded Warrants Exercisable For Depositary Shares, At A Purchase Price Of $0.94 Per Depositary Share; Also Announces Concurrent Private Placement
Portfolio Pulse from Benzinga Newsdesk
Biodexa Pharmaceuticals has announced the pricing of a $5 million registered direct offering and a concurrent private placement. The company will sell 5,050,808 American Depositary Shares and 278,975 pre-funded warrants. The proceeds will be used to fund development programs, including a $17 million CPRIT grant match and a Phase 3 eRapa trial in Familial Adenomatous Polyposis, as well as for working capital and general corporate purposes.
July 19, 2024 | 12:32 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Biodexa Pharmaceuticals has announced a $5 million registered direct offering and concurrent private placement. The proceeds will be used for development programs, including a $17 million CPRIT grant match and a Phase 3 eRapa trial in Familial Adenomatous Polyposis, as well as for working capital and general corporate purposes.
The announcement of a $5 million direct offering and private placement is likely to provide Biodexa Pharmaceuticals with the necessary funds to advance its development programs, including a significant $17 million CPRIT grant match and a Phase 3 trial. This could positively impact the company's stock price in the short term as it demonstrates progress and financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100