Marvel Biosciences Corp ( (TSE:MRVL) ) just unveiled an announcement.
Marvel Biosciences Corp. has announced the closing of the first tranche of a non-brokered private placement, raising $1,000,000 through the issuance of 8,000,000 units. Each unit consists of one common share and one warrant, with the proceeds intended for drug formulation, toxicology studies, and general working capital. The offering, which is subject to TSX Venture Exchange approval, is aimed at accredited investors and includes a finder’s fee arrangement. The announcement signifies Marvel’s ongoing efforts to secure funding for its pharmaceutical development initiatives, potentially enhancing its market position in the biotechnology industry.
More about Marvel Biosciences Corp
Marvel Biosciences Corp. is a Calgary-based pre-clinical stage pharmaceutical development biotechnology company. It is focused on developing MB-204, a novel fluorinated derivative of the approved anti-Parkinson’s drug Istradefylline, which is the only clinically approved adenosine A2a antagonist. The company is exploring the potential of MB-204 in treating neurological diseases such as autism, depression, Alzheimer’s Disease, and other neurodevelopmental disorders like Rett Syndrome and Fragile X Syndrome.
YTD Price Performance: -23.33%
Average Trading Volume: 36,833
Technical Sentiment Signal: Buy
Current Market Cap: C$5.15M
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