Faron Pharmaceuticals Oy (GB:FARN) has released an update.
Faron Pharmaceuticals Oy has launched a share offering to raise approximately EUR 30.7 million by offering up to 30.7 million shares at EUR 1.00 each, aiming to secure funding for key company milestones through mid-March 2025, including significant commercial partnerships and the development of its lead program, bexmarilimab. The offering, which includes a public and institutional offering, as well as targeted offers in the UK, is already backed by commitments and guarantees ensuring the minimum goal of EUR 15 million is met. The discounted subscription price represents a significant reduction from the recent market price, with a subscription period starting on June 5, 2024.
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