Island Pharmaceuticals Ltd (AU:ILA) has released an update.
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Island Pharmaceuticals Ltd has successfully raised A$3.5 million through a placement at A$0.07 per share to fund its dengue fever drug trials and to explore the acquisition of the antiviral therapeutic Galidesivir. The placement, backed by significant investors and requiring shareholder approval, will allow the company to reach critical near-term milestones. The company’s CEO highlights the strong financial position that this fundraising provides, enabling progress through key stages of their clinical trials.
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