Pharmaxis Ltd (AU:SNT) has released an update.
Pharmaxis Ltd’s Syntara has secured A$5.0 million in funding through a two-part share placement, bolstering its financial position for ongoing Phase 2 clinical trials in various diseases, despite a dispute with Arna Pharma over a previous business unit sale. The placement will ensure continued research into their lead drug asset and support other operational costs. The company is also pursuing legal action to recover the disputed funds from Arna Pharma.
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