Algernon Pharmaceuticals Boosts Private Placement

Algernon Pharmaceuticals (TSE:AGN) has released an update.

Algernon Pharmaceuticals, a Canadian clinical stage drug development company, has announced an increase in its non-brokered private placement from $250,000 to $408,000, with each unit consisting of a common share and a purchase warrant. The offering is set to close on August 1, 2024, and the proceeds will be used for working capital purposes. The warrants have an accelerated expiry clause if the company’s share price exceeds certain thresholds.

For further insights into TSE:AGN stock, check out TipRanks’ Stock Analysis page.