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SynAct Pharma AB ( (SE:SYNACT) ) just unveiled an update.
SynAct Pharma AB has announced a directed share issue raising SEK 37 million, extending its financial runway to the end of 2026. This move, supported by existing shareholders, aims to strengthen the company’s financial position and support the development of its primary drug candidate, Resomelagon, as a novel treatment for autoimmune and inflammatory diseases. The decision to proceed with a directed issue rather than a rights issue was strategic, allowing SynAct to diversify its shareholder base and secure long-term commitments from key investors.
More about SynAct Pharma AB
SynAct Pharma AB is a Swedish biotechnology company publicly listed since 2016, with shares trading on Nasdaq Stockholm since 2022. The company is in the clinical stage, focusing on treating inflammation through selective activation of the melanocortin system. SynAct’s portfolio includes oral and injectable selective melanocortin agonists aimed at inducing anti-inflammatory effects and resolving inflammation. Their leading drug candidate, Resomelagon, is under evaluation in phase 2 clinical programs for rheumatoid arthritis, idiopathic membranous glomerulonephritis, and virus-induced respiratory insufficiency.
Average Trading Volume: 211,211
Current Market Cap: SEK755.7M
For a thorough assessment of SYNACT stock, go to TipRanks’ Stock Analysis page.