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InhaleRx Limited ( (AU:IRX) ) has provided an update.
InhaleRx has closed its pro-rata non-renounceable entitlement offer, raising $107,730 before costs from applications for 4.3 million new shares and associated options, below the maximum possible amount and leaving a shortfall of approximately $139,938 that the company is now working with lead manager Peak Asset Management to place on the same terms within three months. Together with a two-tranche placement of 30 million new shares and 15 million options expected to raise $750,000 before costs—of which $427,500 has already been received and the balance is committed subject to shareholder approval—the company has secured total funds received or committed of $857,730 to support its ongoing capital needs and development programs, modestly strengthening its balance sheet as it advances its inhaled drug candidates in pain and mental health indications.
More about InhaleRx Limited
InhaleRx Limited (ASX: IRX) is an Australian clinical-stage drug development company focused on rapid-onset, inhaled therapies targeting unmet medical needs in pain management and mental health. Its pipeline includes IRX-211 for breakthrough cancer pain, IRX-616a for panic disorder and SRX-25 for treatment-resistant depression, with a strategy centered on pursuing U.S. FDA approval via accelerated, cost-effective regulatory pathways and addressing current gaps and dependency concerns in existing treatment options.
Average Trading Volume: 288,524
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$5.39M
Find detailed analytics on IRX stock on TipRanks’ Stock Analysis page.