Pharmaust Limited (AU:PAA) has released an update.
PharmAust Limited, a biotechnology firm specializing in neurodegenerative diseases, has announced a Share Purchase Plan (SPP) allowing eligible shareholders to buy up to A$30,000 worth of shares at $0.19 each, matching the recent institutional offer price. This initiative aligns with the company’s efforts to repurpose monepantel (MPL) for ALS treatment, with positive Phase 1 study results and plans for a Phase 2/3 trial set to commence in the second half of 2024. The company operates within a robust neurodegenerative disease market forecasted to grow to USD 77.82 billion by 2029.
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