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InhaleRx Limited ( (AU:IRX) ) has shared an announcement.
InhaleRx Limited has announced a non-renounceable pro-rata entitlement offer to raise approximately $250,000, offering 1 new share for every 22 shares held at 2.5 cents per share, along with free attaching options. The offer is restricted to shareholders in Australia and New Zealand, excluding those with registered addresses elsewhere due to cost and regulatory considerations. This move is part of the company’s strategy to secure funding for its drug development projects, potentially impacting its market positioning by addressing critical gaps in current treatment options.
More about InhaleRx Limited
InhaleRx Limited is an Australian clinical stage drug development company focused on developing rapid onset inhaled therapies for unmet medical needs in pain management and mental health. The company is working on treatments for Breakthrough Cancer Pain, Panic Disorder, and Treatment-Resistant Depression, aiming for U.S. FDA approval through efficient regulatory pathways.
Average Trading Volume: 260,333
Technical Sentiment Signal: Sell
Current Market Cap: A$6.15M
Learn more about IRX stock on TipRanks’ Stock Analysis page.