- NervGen Pharma (NGEN) has closed a non-brokered private placement for gross proceeds of C$2,343,036
- NervGen sold 1,511,636 units at $1.55 per unit
- The company intends to use the proceeds to fund preclinical studies and for general corporate purposes
- NervGen creates solutions to treat nervous system injury due to trauma or disease as a result of inflammation and/or neurodegeneration
- NervGen Pharma (NGEN) is down by 2.75 per cent and is currently trading at $1.77 per share
NervGen Pharma (NGEN) has closed a non-brokered private placement for gross proceeds of C$2,343,036.
The company sold 1,511,636 units at $1.55 per unit.
Each unit consists of one NervGen common share and one-half of one common share purchase warrant.
Each warrant is exercisable into one common share priced at $2.10 until August 4, 2023.
The company intends to use the proceeds to fund preclinical studies and for general corporate purposes.
Bill Radvak, NervGen’s Executive Chairman, commented,
“I want to take this opportunity to thank these investors, including Brian McAlister (200,000 units), one of our co-founders, and Rich Macary (50,000 units), an advisor to our Board of Directors. This financing provides us with further funds that will support our programs, including the ongoing phase 1 clinical trial and preparations for the phase 2 studies to begin next year.”
NervGen creates solutions to treat nervous system injury due to trauma or disease as a result of inflammation and/or neurodegeneration.
NervGen Pharma (NGEN) is down by 2.75 per cent and is currently trading at $1.77 per share as of 2:15 pm ET.
