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InhaleRx Limited ( (AU:IRX) ) has provided an announcement.
InhaleRx Limited has issued 17,100,000 ordinary shares at $0.025 each, raising $427,500 as part of a larger capital raise effort of up to $1,000,000. The placement, managed by Peak Asset Management, involves professional and sophisticated investors and includes options for additional shares subject to shareholder approval. This capital raise is expected to support the company’s strategic initiatives in drug development and enhance its market positioning.
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 sectors. The company is working on treatments for Breakthrough Cancer Pain, Panic Disorder, and Treatment-Resistant Depression, aiming for U.S. FDA approval through cost-effective regulatory pathways.
Average Trading Volume: 257,221
Technical Sentiment Signal: Sell
Current Market Cap: A$5.92M
Find detailed analytics on IRX stock on TipRanks’ Stock Analysis page.