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CANbridge Pharmaceuticals Inc. ( (HK:1228) ) has shared an announcement.
CANbridge Pharmaceuticals Inc. has entered into a Subscription Agreement to issue 74,971,468 new shares at a price of HK$1.34 per share, representing a discount to the last trading day’s closing price but a premium to the average closing price over the past five days. The gross proceeds from this subscription are expected to be over HK$100 million, with net proceeds earmarked for research and development, marketing, loan repayment, and daily operations. The subscription is subject to approval from the Stock Exchange, and trading of the company’s shares was temporarily halted pending this announcement.
More about CANbridge Pharmaceuticals Inc.
CANbridge Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for rare diseases and targeted cancers. The company is incorporated in the Cayman Islands and is listed on the Hong Kong Stock Exchange.
Average Trading Volume: 11,921,847
Technical Sentiment Signal: Buy
Current Market Cap: HK$709.5M
For detailed information about 1228 stock, go to TipRanks’ Stock Analysis page.