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Marvel Biosciences Corp ( (TSE:MRVL) ) just unveiled an update.
Marvel Biosciences Corp. announced its intention to complete a non-brokered private placement of common shares, aiming to raise between $1,935,000 and $2,500,000. The proceeds are expected to fund phase 1 clinical trials of their lead compound MB-204, as well as cover general administrative expenses and working capital. The offering is subject to regulatory approvals and will be conducted under specific exemptions in Canada, excluding Quebec. The engagement of Abingdon Capital as a finder, with potential compensation and advisory roles, further indicates strategic partnerships for Marvel’s financing endeavors.
More about Marvel Biosciences Corp
Marvel Biosciences Corp. is a Calgary-based pharmaceutical development biotechnology company in the pre-clinical stage. It operates through its wholly owned subsidiary, Marvel Biotechnology Inc., focusing on ‘drug redevelopment’ in the pharmaceutical industry.
YTD Price Performance: 10.0%
Average Trading Volume: 61,484
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: C$7.39M
Find detailed analytics on MRVL stock on TipRanks’ Stock Analysis page.
