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Alligator Bioscience AB ( (SE:ATORX) ) has provided an update.
Alligator Bioscience AB has announced the final terms of its Rights Issue, which involves issuing units of ordinary shares and warrants to existing shareholders. The initiative aims to raise approximately SEK 123 million initially, with potential additional proceeds of SEK 61 million if warrants are fully exercised. The funds will be used to repay loans and support the company’s ongoing efforts to secure a partnership for its cancer treatment, mitazalimab, as well as for general corporate purposes. The Rights Issue is partially covered by subscription undertakings and guarantee commitments, ensuring a significant portion of the funds is secured.
More about Alligator Bioscience AB
Alligator Bioscience AB is a company operating in the biotechnology industry, focusing on developing innovative antibody-based therapies for cancer treatment. The company is known for its work on mitazalimab and aims to secure partnerships to advance its therapeutic developments.
YTD Price Performance: -95.62%
Average Trading Volume: 1,119,468
Technical Sentiment Signal: Sell
Current Market Cap: SEK40.42M
Learn more about ATORX stock on TipRanks’ Stock Analysis page.