Biodexa announces closing of $6.0 million underwritten public offering, including full exercise of overallotment option

Biodexa pharmaceuticals plc (“biodexa” or the “company”) biodexa announces closing of $6.0 million underwritten public offering, including full exercise of overallotment option closes acquisition of exclusive, worldwide license to tolimidone, phase ii ready type i diabetes clinical program cardiff, united kingdom, dec. 21, 2023 (globe newswire) - biodexa pharmaceuticals plc, (nasdaq: bdrx), a clinical stage biopharmaceutical company developing a pipeline of innovative products for the treatment of diseases with unmet medical needs, today announced the closing of an underwritten public offering of units for gross proceeds of approximately $6.0 million, which includes the full exercise of the underwriter's over-allotment option to purchase additional shares and warrants, prior to deducting underwriting discounts and commissions and offering expenses payable by biodexa. biodexa also announced the closing under the assignment and exchange agreement (the “assignment and exchange agreement”) with adhera therapeutics, inc. (“adhera”) and certain secured noteholders (the “secured noteholders”), pursuant to which adhera assigned all of its rights to the compound tolimidone to biodexa, and the related license agreement (the “license agreement”) with melior pharmaceuticals i, inc. (“melior”), pursuant to which biodexa obtained an exclusive, worldwide, sublicensable right to develop, manufacture, commercialize, or otherwise exploit products containing tolimidone for any field.
BDRX Ratings Summary
BDRX Quant Ranking