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Provider: Reuters Investment Profile
Provider: Thomson Reuters Stock Report

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Benitec Biopharma Ltd Raises Additional AUD2.84 Million With Share Purchase Plan

Wednesday, 31 Jul 2013 12:25am EDT 

Benitec Biopharma Ltd announced that it has closed a Share Purchase Plan for existing shareholders on July 29, 2013, raising $2.84 million. These funds are additional to the $7.90 million raised in private placements announced in July 2013 and the $0.98 million announced in March 2013. The combined proceeds from the private placements and the Share Purchase Plan total $11.720 million. The allotment to participants in the Share Purchase Plan will be made on August 6, 2013. The completion of this capital raise ensures the company has the funds in place to complete first in-­man trial (Phase I/IIa) for Hepatitis C treatment, planned to commence later this year. In addition, Benitec 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 which is planned to commence in Q4 CY14. Benitec will also use the proceeds to manufacture clinical material for a potential second HCV clinical trial (based on outcomes from the first trial), as well as advance business development activities and pre-­clinical studies in pipeline programs, and for general working capital. 

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0.12 +12.24%
1 Sep 2014