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An announcement from Evgen Pharma ( (GB:TCF) ) is now available.
TheraCryf plc has announced a successful fundraising of £4.25 million through a placing and subscription of new shares, aimed at advancing its drug development projects. The majority of the funds will be allocated to completing the pre-clinical development of their orexin-1 antagonist and preparing for the clinical trial readiness of SFX-01 for glioblastoma treatment. The fundraising extends the company’s cash runway through 2026, enabling the company to reach key inflection points and potentially unlock commercial opportunities. Additionally, Dr. Alastair Smith has been appointed as the new Non-executive Chair, and Turner Pope Investments has been named joint broker for the company.
More about Evgen Pharma
TheraCryf plc is a clinical stage drug development company that focuses on oncology and neuropsychiatry. The company is working on the development of an orexin-1 antagonist and is preparing its SFX-01 asset for glioblastoma treatment.
YTD Price Performance: 92.31%
Average Trading Volume: 946,368
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £4.3M
Learn more about TCF stock on TipRanks’ Stock Analysis page.