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Thiogenesis Therapeutics Corp ( (TSE:TTI) ) has issued an announcement.
Thiogenesis Therapeutics Corp has successfully raised over C$4.14 million through a non-brokered private placement of common shares, exceeding expectations with a heavily oversubscribed offering. The funds will be used to support the company’s clinical trial expenses for MELAS, the production of TTI-0102 for future trials, and general working capital. This financial boost is expected to enhance Thiogenesis’ operational capabilities and strengthen its position in the biopharmaceutical industry, potentially accelerating the development of its promising drug candidates.
More about Thiogenesis Therapeutics Corp
Thiogenesis Therapeutics Corp is a clinical-stage biopharmaceutical company based in San Diego, California. It focuses on developing sulfur-containing prodrugs that serve as precursors to thiol-active compounds, targeting serious pediatric diseases with unmet medical needs. The company’s lead product, TTI-0102, is involved in active clinical trials for conditions such as Mitochondrial Encephalopathy Lactic Acidosis and Stroke (MELAS), Leigh syndrome spectrum, and plans for trials in Rett syndrome and pediatric Metabolic Dysfunction-Associated Steatohepatitis.
Average Trading Volume: 40,722
Technical Sentiment Signal: Buy
Current Market Cap: C$37.97M
For detailed information about TTI stock, go to TipRanks’ Stock Analysis page.