Cantargia raises SEK 31.4 million through exercise of warrants of series TO 1 and TO 3
On 13 April 2016 the exercise period for warrants of series TO 3 that were issued in connection with the initial public offering of Cantargia ended. At the same date the exercise period for warrants of series TO 1, which were issued in connection with a debt-for-equity swap in October 2014, also ended. In total,
4 127 260 warrants of both series were exercised, resulting in a total utilization of approximately 83.5 per cent of the warrants. Through the warrants, Cantargia raises around SEK 31.4 million in total, before issue costs.
Capital injection funds preparations for clinical phase I/IIa study
Through the exercise of the warrants Cantargia will raise around SEK 31.4 million before issue costs. Cantargia is preparing and planning to conduct formal GLP toxicity studies and GMP production in the summer of 2016, before the first clinical study of the product candidate CAN04. The capital injection ensures these activities prior to the clinical study, which is planned to start late 2016.
Number of shares and share capital
In total, 592,098 warrants of series TO 1 and 3 535 162 warrants of series TO 3 were exercised, resulting in the registration of 4 127 260 new shares with the Swedish Companies Registration Office. The number of shares of Cantargia upon registration with the Companies Registration Office will be 17 633 134 and the share capital will be SEK 1 410 650.72.
"Cantargia continues the development of CAN04 against non-small cell lung cancer and pancreatic cancer according to plan”, says Göran Forsberg, CEO. “The investment shows that we have strong support from our investors to study the product candidate in patients."
If you have any questions concerning Cantargia’s warrants, please contact:
Telephone: +46 (0)431-47 17 00
For further information, please contact
Göran Forsberg, CEO
Telephone: +46 (0)46 275 62 60