Synairgen raises £80m after Covid-19 treatment shows progress

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By Aidan Gregory
15 Oct 2020

Synairgen, the UK biopharmaceuticals company, has raised £80m from investors to fund the next stage of clinical trials for a treatment designed to alleviate the respiratory symptoms of Covid-19.

In a regulatory filing on Thursday morning, the company said it had placed 45.7m new shares at an offer price of 175p a share, through an accelerated bookbuild. That is a discount of 4.1% to the volume-weighted average share price of Synairgen over the last ten trading days. ...

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