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An update from Recce Pharmaceuticals Ltd. ( (AU:RCE) ) is now available.
Recce Pharmaceuticals Ltd. successfully completed an entitlement offer, raising approximately A$3.4 million from existing shareholders, contributing to a total of A$8.4 million raised including a previous placement. This funding will support Phase 3 clinical trials for Diabetic Foot Infection in Indonesia and Acute Bacterial Skin and Skin Structure Infections in Australia, with an aim for commercialization and revenue generation by 2026. The company expressed gratitude towards its shareholders for their support and highlighted the importance of these trials as a catalyst for future revenue.
More about Recce Pharmaceuticals Ltd.
Recce Pharmaceuticals Ltd. is a leading developer in the pharmaceutical industry, focusing on a new class of Synthetic Anti-Infectives. The company is engaged in developing treatments for infections, with a market focus on advancing clinical trials and commercializing their products.
Average Trading Volume: 218,078
Technical Sentiment Signal: Sell
Current Market Cap: A$79.8M
See more data about RCE stock on TipRanks’ Stock Analysis page.