- Claritas Pharmaceuticals (CLAS) will close the first tranche of a brokered private placement offering with Obsidian Global Partners
- Net proceeds from the first tranche of the offering total US$930,000
- A second tranche of the offering will close in 90 days, providing additional proceeds of US$750,000
- A third tranche will close 120 days following the closing of tranche 2, providing additional proceeds of approximately US$1,250,000
- Net proceeds from the offering will be allocated to the cost of the clinical study of R-107
- Claritas Pharmaceuticals is a clinical-stage biopharmaceutical company
- Claritas Pharmaceuticals Inc. (CLAS) is down 9.86 per cent, trading at C$0.32 per share at 1:20 pm ET
Claritas Pharmaceuticals (CLAS) will close the first tranche of a brokered private placement offering with Obsidian Global Partners, LLC.
Net proceeds from the first tranche of the offering total US$930,000.
A second tranche of the offering will close in 90 days, providing additional proceeds of US$750,000 and a third tranche will close 120 days following the closing of Tranche 2, providing additional proceeds of approximately US$1,250,000.
Net proceeds from the offering will be allocated primarily to the cost of the Phase 1 clinical study of R-107, as well as for general corporate purposes.
“We are delighted to announce this transaction with Obsidian, which has enabled the Company to initiate the Phase 1 clinical study of R-107 with CMAX in Adelaide, Australia,” said Robert Farrell, Claritas’ President and CEO.
“We expect to complete the Phase 1 clinical study by Q1 next year, and to complete a pilot Phase 2a clinical study of R-107 in hospitalized patients with COVID-19 related PAH by Q3 next year.”
Claritas Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for patients with significant unmet medical needs.
Claritas Pharmaceuticals Inc. (CLAS) is down 9.86 per cent, trading at C$0.32 per share at 1:20 pm ET.