Ascelia Pharma: Outcome of rights issue
Ascelia Pharma’s share price rose by 3,55% yesterday, following the final outcome of the rights issue released before closure. The company has secured approximately SEK 105 million in gross proceeds before issue costs. The issue was completed without guarantors.
This positive outcome reduces the financial uncertainty for Ascelia Pharma and enables the company to continue with the FDA submission process for Orviglance, advance discussions with potential commercial partners ahead of the launch, and amortize SEK 7.5 million of convertible debt to Fenja Capital (Formue Nord), thereby strengthening the balance sheet.
The timetable for NDA submission to FDA for Orviglance:
- Q4-2024: Full Phase-3 - Orviglance study report
- Q1-2025: Conclusions from the FDA pre-submission meeting
- Mid-2025: FDA submission.
Ascelia Pharma will report its Q3 results on November 7, 2024.
Link to full announcement here:Ascelia Pharma announcement
For an update on Ascelia Pharma prior to trading in the rights issue, listen to the interview with Deputy CEO Julie Waras Brogren here: Interview with Deputy CEO Julie Waras Brogren
Disclaimer: HC Andersen Capital receives payment from Ascelia Pharma for a Digital IR/Corporate Visibility subscription agreement. /Claus Thestrup 8:00 AM 06-09-2024.
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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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