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Arctic Bioscience AS ( (DE:9TD) ) just unveiled an announcement.
Arctic Bioscience has secured a NOK 30 million funding through a combination of loans, bolstering its financial stability and enabling the company to pursue further development and growth. The company reports a robust 30% year-over-year sales revenue growth for 2024, with expectations for continued strong growth. The funding, which includes contributions from Innovation Norway and a consortium of investors, will support the company’s strategic plans and enhance shareholder value, with the development of their psoriasis drug candidate HRO350 expected to be funded through future partnerships.
More about Arctic Bioscience AS
Arctic Bioscience is a biotech company specializing in the development and commercialization of pharmaceutical and nutraceutical products derived from unique bioactive marine compounds. The company is advancing HRO350, an oral drug candidate aimed at treating patients with mild-to-moderate psoriasis, while also offering nutraceuticals under the ROMEGA® brand on a global scale.
YTD Price Performance: 30.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €4.96M
For a thorough assessment of 9TD stock, go to TipRanks’ Stock Analysis page.
