Herantis Pharma: Directed issue completed - Redeye

Redeye endorses the recent news that Herantis has completed a directed issue of EUR4.5m at a price of EUR1.4 per share, to both existing and new shareholders, including the EIC fund (European Innovation Council). This should extend the company’s runway further (at least into 2025). The issue was close to our estimates (EUR5m at EUR1.35 per share) and we thus make no immediate changes to our valuation. We will soon return with a research update to further discuss the recent progress in the company, most notably the transformative phase I data.

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