Island Pharmaceuticals to Raise AU$9 Million via Placement

MT Newswires Live

02/04

Island Pharmaceuticals (ASX:ILA) received firm commitments to raise AU$9 million via a placement of 25.7 million shares at an issue price of AU$0.35 per share, according to a Wednesday filing with the Australian bourse.

The offer price represents a 17.9% discount to the stock's 15-day volume weighted average price, the filing said.

The new shares are expected to settle on Feb.13, the filing added.

Funds raised will be used to advance the company's antiviral drug Galidesivir to approval under the US Food & Drug Administration's (FDA) Animal Rule.

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Drug Administration's (FDA) Animal Rule.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ILA.AU","symbol_name":"ISLAND PHARMACEUTICALS LTD","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2608389259","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2608389259","pubTimestamp":1770160692,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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