Viralytics raises $4.7m to fund melanoma trial
Tuesday, 20 December, 2011
Viralytics has announced it has raised $4.7 million in a share purchase plan, which has raised the company’s cash reserves to over $8 million.
The fund raising was undertaken to coincide with the commencement of patient enrolment in the company’s US-based phase II melanoma trial.
The issue price of the shares was 30.84c and was based on the five day volume weighted price as of 14 December.
Viraltyics’ (ASX:VLA) share price dropped 5.5% to 34c by mid-afternoon, down from 36c at Monday’s close.
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