Edesa Biotech ( (EDSA) ) has provided an update.
Edesa Biotech has announced a $15 million private placement, led by Velan Capital, to fund its CXCL10 antibody program through 2026. The capital will support the Phase 2 clinical study of EB06 for vitiligo and general corporate purposes, while Velan Capital’s David Liu joins Edesa’s Board of Directors.
More about Edesa Biotech
Edesa Biotech, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative treatments for inflammatory and immune-related diseases. The company’s clinical pipeline targets two therapeutic areas: Medical Dermatology and Respiratory. In Medical Dermatology, Edesa is working on EB06, an anti-CXCL10 monoclonal antibody candidate for vitiligo, along with EB01 for Allergic Contact Dermatitis. In Respiratory, the company is advancing EB05, a treatment for Acute Respiratory Distress Syndrome, supported by government funding, and preparing an IND for EB07.
YTD Price Performance: -2.11%
Average Trading Volume: 26,923
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $6.45M
See more insights into EDSA stock on TipRanks’ Stock Analysis page.