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Recce Pharmaceuticals Ltd. ( (AU:RCE) ) just unveiled an announcement.
Recce Pharmaceuticals has secured a non-dilutive debt facility of up to A$30 million with Avenue Capital Group, providing initial funding of A$11.5 million to support Phase 3 clinical trials and commercialization efforts for its lead candidate R327G. This financial move, alongside a recent equity raise, strengthens Recce’s cash position, ensuring a cash runway sufficient for trial completion and market authorization submissions. The partnership with Avenue Capital Group underscores the commercial potential of Recce’s synthetic anti-infectives and their role in addressing antimicrobial resistance, marking a significant step in the company’s growth and strategic objectives.
More about Recce Pharmaceuticals Ltd.
Recce Pharmaceuticals Ltd is a leading developer in the pharmaceutical industry, focusing on synthetic anti-infectives. The company is engaged in creating innovative therapies to combat antimicrobial resistance, with a strategic focus on high-burden regions. Their primary products include treatments for Diabetic Foot Infections and Acute Bacterial Skin and Skin Structure Infections, with a market focus on the ASEAN region.
Average Trading Volume: 214,547
Technical Sentiment Signal: Sell
Current Market Cap: A$90.84M
For an in-depth examination of RCE stock, go to TipRanks’ Overview page.