Pharmaust Limited (AU:PAA) has released an update.
PharmAust Limited has successfully completed a Share Purchase Plan (SPP), raising a significant $7.8 million, far surpassing the initial target of $2 million. This, along with a recent $10 million placement, has provided the company with approximately $17.8 million, bolstering their financial position and reducing future funding needs for upcoming trials. The company is now poised to proceed with the HEALEY ALS Platform Trial, a pivotal study for the treatment of amyotrophic lateral sclerosis (ALS), with strong backing from its shareholders.
For further insights into AU:PAA stock, check out TipRanks’ Stock Analysis page.
