Ascelia Pharma: Finalizes Rights Issue with Runway Extended to Late 2025
The company yesterday announced the final outcome including the conversion of paid subscribed units (BTU) to ordinary shares and warrents series TO1. The new ordinary shares and warrants series TO 1 have now been admitted to trading on Nasdaq Stockholm with ticker code (ACE TO 1).
With the full financing in place, the cash runway of Ascelia Pharma extends until late 2025, well beyond the NDA submission mid-2025. This excludes potential payments from a commercialization partnership as well as financing from exercise of issued warrants series TO 1 of up to SEK 70 million and repayment of the remaining SEK 27.5 million loans to Fenja.
Now all eyes are on execution of the Orviglance NDA submission mid-2025 and secure a secure a commercialization partner.
Listen to our latest interview with CEO Magnus Corfitzen regarding the finalization of the fully subscribed issue here: Ascelia Pharma
Disclaimer: HC Andersen Capital receives payment from Ascelia Pharma for a Digital IR/Corporate Visibility subscription agreement. /Claus Thestrup 08:10 AM 01-10-2024
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Ascelia Pharma
Ascelia Pharma is a Swedish biotech company with a focus on orphan oncology treatments. They develop and commercialize novel drugs that address unmet medical needs and have a clear development and market pathway. Currently, Ascelia pharma has two pipeline products, namely Orviglance and Oncoral. Orviglance is a novel contrast agent for MR-Imaging developed to improve the detecting and visualization of focal liver lesions (Including liver metastases – and primary tumors) in patients with reduced kidney function. Oncoral is a daily tablet with an established potent anti-tumor effect – even in difficult to treat cancers with the potential to offer better patient outcomes with improved safety following a daily tablet treatment compared to intravenous high-dose infusions at the hospital. Ascelia Pharma is listed on Nasdaq Small Cap Stockholm with ticker ACE.
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