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Recce Pharmaceuticals Ltd. ( (AU:RCE) ) has shared an announcement.
Recce Pharmaceuticals Ltd has successfully completed a A$5.0 million placement of new shares to support Phase 3 clinical trials for diabetic foot infection in Indonesia and acute bacterial skin infections in Australia. Additionally, the company is launching a pro-rata entitlement offer to raise up to A$10.8 million, further bolstering its financial resources for ongoing clinical developments. These financial maneuvers are expected to strengthen Recce’s position in the pharmaceutical industry, particularly in addressing unmet medical needs related to antibiotic resistance.
More about Recce Pharmaceuticals Ltd.
Recce Pharmaceuticals Ltd is a developer of a new class of synthetic anti-infectives aimed at addressing antibiotic-resistant superbugs. Their pipeline includes patented, broad-spectrum synthetic polymer anti-infectives such as RECCE® 327, RECCE® 435, and RECCE® 529, targeting bacterial and viral infections. Recognized by the WHO and FDA, Recce is noted for its efforts in combating antimicrobial resistance and holds market exclusivity for its products post-approval.
YTD Price Performance: -39.58%
Average Trading Volume: 210,969
Technical Sentiment Signal: Buy
Current Market Cap: A$68.9M
See more insights into RCE stock on TipRanks’ Stock Analysis page.