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An announcement from Recce Pharmaceuticals Ltd. ( (AU:RCE) ) is now available.
Recce Pharmaceuticals Ltd announced the issuance of 26,370,567 fully paid ordinary shares, raising A$7.4 million through a pro-rata non-renounceable entitlement offer. The company is also negotiating a secured loan facility with a US-based investment firm for up to USD $20 million to refinance existing debt and provide working capital. This financial maneuvering reflects Recce’s strategic efforts to strengthen its financial position and support its ongoing development of innovative anti-infective solutions, potentially impacting its market positioning and stakeholder interests.
More about Recce Pharmaceuticals Ltd.
Recce Pharmaceuticals Ltd is a company focused on developing a new class of synthetic anti-infectives aimed at combating antibiotic-resistant superbugs. Their pipeline includes patented, broad-spectrum synthetic polymer anti-infectives such as RECCE 327 for bacterial infections, RECCE 435 for oral bacterial infections, and RECCE 529 for viral infections. The company’s efforts have been recognized by the World Health Organization and the FDA, highlighting their commitment to addressing antimicrobial resistance.
Average Trading Volume: 225,640
Technical Sentiment Signal: Sell
Current Market Cap: A$79.91M
See more insights into RCE stock on TipRanks’ Stock Analysis page.