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An update from Graft Polymer (UK) PLC ( (GB:SVNS) ) is now available.
Solvonis Therapeutics PLC has announced a proposed equity fundraising to raise a minimum of £2 million through the issuance of new Ordinary Shares. This fundraising is part of a strategic move following an arrangement agreement with Awakn Life Sciences Corp. The proceeds will provide sufficient working capital for the enlarged group, satisfying a key condition for the acquisition of Awakn. The acquisition, valued at approximately £4.98 million, includes Awakn’s research and development programs targeting severe alcohol use disorder and PTSD, marking a significant step in Solvonis’s strategy to address mental health and addiction treatment needs.
More about Graft Polymer (UK) PLC
Solvonis Therapeutics PLC is an innovative biotechnology company focused on co-developing therapeutics for mental health disorders. The company is particularly targeting significant unmet needs in the treatment of mental health and addiction, with a market focus on severe alcohol use disorder and post-traumatic stress disorder.
Average Trading Volume: 7,724,666
Technical Sentiment Signal: Sell
Current Market Cap: £3.79M
For detailed information about SVNS stock, go to TipRanks’ Stock Analysis page.