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Hightide Therapeutics Inc ( (HK:2511) ) has shared an update.
Hightide Therapeutics Inc. has announced a placement of new shares under a general mandate, aiming to issue up to 60,000,000 shares at a price of HK$2.21 each. This move is expected to raise approximately HK$131.00 million in net proceeds, which the company plans to use for the clinical development and commercialization of its pipeline product, HTD1801. The placement represents about 11.66% of the existing issued share capital and is being offered at a discount to recent trading prices. The completion of this placement is contingent upon certain conditions being met, and the company has applied for the listing of these shares on the Stock Exchange.
More about Hightide Therapeutics Inc
Hightide Therapeutics Inc. is a company incorporated in the Cayman Islands, focusing on the biotechnology industry. The company specializes in developing therapeutic products, with a particular emphasis on its lead compound, berberine ursodeoxycholate (HTD1801), which is a first-in-class, gut-liver anti-inflammatory metabolic modulator.
Average Trading Volume: 2,831,890
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$1.42B
Find detailed analytics on 2511 stock on TipRanks’ Stock Analysis page.