Update regarding financial situation
Earlier this week, Redwood Pharma published an update on the Phase II clinical trial of RP101 where the company has now recruited about 80 patients and is approaching the target of about 100 patients. In connection with this, the company wants to update the owners and the market on the financing situation. Through the new rights issue executed during the spring 2018 and the convertible debt facility that was entered into at the same time, sufficient capital was raised by the company to complete the RP101 Phase II trial. Only 5 Mkr of the total 15 Mkr debt facility have been used to date.