- Zelira Therapeutics (ZLD) raises $1.77 million to progress its clinical trials
- The funds were raised via a placement to US-based investors at $1 per share, representing a 3 per cent discount to ZLD’s 15-day VWAP on March 10
- Zelira says the money will be used to further progress its ongoing strategies of “multiple shots on goal” for its proprietary formulations through clinical trials
- Settlement of the shares is expected to occur on March 17
- Zelira Therapeutics is up 8 per cent, trading at $1.08 at 2:03 pm AEDT
Zelira Therapeutics (ZLD) has raised $1.77 million to progress its clinical trials.
The funds were raised via a placement of 1,770,039 fully paid ordinary shares from US-based investors at $1 per share.
This price represents a 3 per cent discount to ZLD’s 15-day VWAP on March 10 and is equal to its last closing price of $1.
Zelira said the funds raised would be used to provide additional working capital to further progress its ongoing strategies of “multiple shots on goal” for its proprietary formulations, such as HOPE 1, through formal FDA clinical trials.
“We are very pleased with our successful direct capital raise and thank our existing investors that participated as well as welcome new US-based investors onto the company’s register,” Zelira Therapeutics CEO Oludare Odumosu said.
“This support reflects ongoing confidence by investors in our various strategies and the progression of our efforts to build meaningful long-term value for our investors, shareholders and patients.”
Settlement of the shares is expected to occur on March 17.
Zelira Therapeutics was up 8 per cent and trading at $1.08 at 2:03 pm AEDT.