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Alligator Bioscience AB ( (SE:ATORX) ) has shared an announcement.
Alligator Bioscience AB announced the successful exercise of its TO 13 warrants, resulting in the issuance of over 9 billion new ordinary shares and generating gross proceeds of approximately SEK 28.1 million. This exercise increases the company’s share capital and results in a 20.6% dilution for existing shareholders, while also providing financial resources to support its ongoing operations and strategic initiatives.
More about Alligator Bioscience AB
Alligator Bioscience is a biotechnology company specializing in the development of clinical-stage tumor-directed antibody drugs targeting the CD40 receptor. This approach aims to enhance T cell priming and counteract the immunosuppressive nature of the tumor microenvironment, offering potential benefits for cancer patients. The company’s lead candidate, mitazalimab, is advancing to Phase 3 development and has shown promising results in metastatic pancreatic cancer trials. Alligator Bioscience is listed on Nasdaq Stockholm and is based in Lund, Sweden.
Average Trading Volume: 500,991
Technical Sentiment Signal: Sell
Current Market Cap: SEK137.5M
Learn more about ATORX stock on TipRanks’ Stock Analysis page.