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Argent Biopharma ( (AU:RGT) ) just unveiled an update.
Argent BioPharma Ltd. has executed a Deed of Variation with Mercer Street Global Opportunity Fund, LLC, to refinance 400,000 convertible notes from a 2020 agreement, reducing the minimum conversion price from A$10.00 to A$0.12. This strategic move aims to optimize the company’s financial structure and potentially enhance its market positioning by making the conversion terms more attractive, which may influence stakeholder interests and future funding agreements.
More about Argent Biopharma
Argent BioPharma Ltd. (ASX: RGT) is a clinical-stage biopharmaceutical company focused on developing nano-engineered medicines to address urgent unmet needs in central nervous system (CNS) and systemic inflammation. Their lead candidates, CannEpil® and CimetrA®, target drug-resistant epilepsy and cytokine-driven inflammatory and autoimmune disorders, respectively. The company utilizes proprietary delivery platforms to enhance drug efficacy and has EU-GMP manufacturing capabilities.
Average Trading Volume: 88,091
Technical Sentiment Signal: Sell
Current Market Cap: A$8.03M
For an in-depth examination of RGT stock, go to TipRanks’ Overview page.