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Percheron Therapeutics ( (AU:PER) ) has shared an announcement.
Percheron Therapeutics has launched a 2-for-5 non-renounceable entitlement offer to raise up to approximately $2.2 million at $0.005 per share, a discount of about 20% to its recent volume-weighted average price, with one free attaching option (exercisable at $0.01 for two years) for every two new shares subscribed. Any shortfall from the entitlement offer will be made available under a separate shortfall offer on the same terms, with proceeds earmarked primarily to fund development of lead oncology candidate HMBD-002, including its modular phase II trial, and to support working capital, potentially extending the company’s cash runway and underpinning its clinical development strategy despite the offers not being underwritten.
The most recent analyst rating on (AU:PER) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Percheron Therapeutics stock, see the AU:PER Stock Forecast page.
More about Percheron Therapeutics
Percheron Therapeutics Limited is an international biotechnology company focused on developing novel therapies for oncology and rare diseases. The company’s lead asset is HMBD-002, which is being advanced through a planned multi-arm, international phase II clinical trial targeting several forms of cancer.
Technical Sentiment Signal: Sell
Current Market Cap: A$6.52M
See more data about PER stock on TipRanks’ Stock Analysis page.