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Island Pharmaceuticals Ltd ( (AU:ILA) ) just unveiled an update.
Island Pharmaceuticals Ltd has successfully raised $2.72 million through the exercise of options, reflecting strong shareholder confidence in the company’s clinical trial pathway. The funds will be used to support ongoing clinical trials for ISLA-101, aimed at combating dengue fever. The completion of subject dosing for the Phase 2b therapeutic arm of the PROTECT clinical trial was achieved in February, with a clinical update expected in April 2025. This development is significant as dengue fever is a fast-growing global threat, and the company’s efforts to address this issue are bolstered by the financial backing of its shareholders.
More about Island Pharmaceuticals Ltd
Island Pharmaceuticals Ltd is an Australian drug repurposing company focused on developing antiviral therapeutics to address infectious diseases. Their lead asset, ISLA-101, is being repurposed for the prevention and treatment of dengue fever and other mosquito-borne diseases.
YTD Price Performance: 2.94%
Average Trading Volume: 143,317
Technical Sentiment Consensus Rating: Sell
Current Market Cap: A$33.61M
Find detailed analytics on ILA stock on TipRanks’ Stock Analysis page.