SUDA Pharmaceuticals Ltd
SUDA Pharmaceuticals Ltd (ASX:SUD) is a drug delivery company focused on oro-mucosal administration.
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SUDA Pharmaceuticals raising $3.56 million to further develop oro-mucosal drug delivery assets
SUDA Pharmaceuticals Ltd (ASX:SUD) has launched an entitlement offer to raise approximately $3.56 million with funds intended for development of the company's anagrelide and the remaining OroMist assets.
The 1 for 1 non-renounceable entitlement offer is for fully paid ordinary shares at 2.5 cents per share, which represents a 37.5% discount to the last traded price and a discount of 34.3% to the 15 trading day VWAP.
It also includes one option for every three new shares issued with an exercise price of 5 cents and an expiry date of July 31, 2022.
"Exciting time for company"
SUDA's CEO Dr Michael Baker said: "This is an exciting time for the company as we look to secure TGA approval for ZolpiMist in Q4 2020 and we continue to develop anagrelide into a pharmaceutical-grade oral spray formulation for the treatment of solid tumours.
"With a board and senior management group that is well versed in sourcing and evaluating new technologies, we look forward to adding additional products to the SUDA portfolio."
Under the entitlement offer, eligible shareholders will be able to subscribe for one new ordinary share in SUDA for every one existing share held at 7.00pm (AEST) on Wednesday, July 8, 2020.
Other SUDA Pharmaceuticals Ltd news
- SUDA Pharmaceuticals granted TGA approval for short-term insomnia treatment ZolpiMist™
2020-07-29 - SUDA Pharmaceuticals submits additional data to TGA for ZolpiMist oral spray for insomnia
2020-05-12 - SUDA Pharmaceuticals sets sights on development of oral sprays
2020-04-23
