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Benitec Biopharma Ltd Announces Share Purchase Plan

Monday, 17 Jun 2013 02:21am EDT 

Benitec Biopharma Ltd announced that it plans to raise up to AUD3,000,000 via a Share Purchase Plan (SPP), as announced on June 6, 2013. Under the SPP shareholders will be entitled to take up to AUD10,000 per holding on the same terms as the June 2013 Private Placement. Offer documents for the SPP are expected to be sent to shareholders about June 24, 2013, and I look forward to inviting you to participate in the Benitec Share Purchase Plan at that time. The record date for determining shareholders who are permitted to participate in the SPP is May 31, 2013. Proceeds from the SPP, together with the private placement, will support important value inflexion points for shareholders, namely funding two Phase I/IIa clinical trials in hepatitis C (HCV) and drug resistant lung cancer patients. Proceeds from the private placement and SPP will support the Company‚Äôs Phase I/IIa hepatitis C clinical trial of TT-034, planned to commence in the US later this year. In addition, the Company will complete preclinical toxicology, biodistribution and dose-finding studies for Tribetarna, drug resistant non small cell lung cancer (NSCLC) program, and conduct a European based Phase I/IIa clinical trial in drug resistant NSCLC patients. The Company will also use the proceeds to manufacture clinical material for a potential second HCV clinical trial (based on outcomes from the first trial), in addition to advancing pre-clinical studies in other pipeline programs. 

Company Quote

-0.01 -1.54%
24 Oct 2014