Recce Pharmaceuticals Secures A$15.8 Million for Phase III Trials

An update from Recce Pharmaceuticals Ltd. ( (AU:RCE) ) is now available.

Recce Pharmaceuticals Ltd has announced a capital raising initiative totaling approximately A$15.8 million, consisting of a A$5.0 million placement from an Australian-based private investor and a A$10.8 million entitlement offer to shareholders. The funds will support Phase III clinical trials for diabetic foot infections in Indonesia and acute bacterial skin and skin structure infections in Australia, with the potential to generate revenue by 2026. This capital raise is seen as a pivotal step for Recce, potentially enhancing its market position and offering significant value to shareholders as it progresses with its clinical trials.

More about Recce Pharmaceuticals Ltd.

Recce Pharmaceuticals Ltd is a leading developer of a new class of synthetic anti-infectives, focusing on innovative treatments for infections. The company is engaged in advancing clinical trials for its products, aiming to establish new standards of care in the pharmaceutical industry.

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Technical Sentiment Signal: Strong Buy

Current Market Cap: A$76.52M

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